Myanmar

Myanmar: more updates on Myanmar. The Minister of National Planning and Economic Development says the countrywill welcome foreign investment in such key industries as electric power and communications. Core industries in which state-run firms hold a monopoly are set to be opened up to foreign investors, through such arrangements as JVs with state-run firms and BOT (build, operate, transfer) setups. Myanmar will also revise its overseas investment law for the first time in 24 years to extend corporate tax waivers and ease its ban on obtaining land-use rights from the private sector. Foreign companies are barred in principle from selling their goods in Myanmar. But domestic sales restrictions are likely to be eased as part of the legislative revision. The Minister added that the government's ability to hit its target of 7.7% annualized economic growth by fiscal 2015 might depend on Japan's support. Japan's public and private sectors are teaming up to help develop a special economic zone near Yangon, Myanmar's biggest city. The country has hosted visits by 100-200 Japanese firms so far, but investment hasn't progressed. Spore listed companies with potential exposure to Myanmar include: - Yoma: most direct proxy to Myanmar, being an incumbent property developer in Myanmar with links to SPA, a Myanmar conglomerate owned by local businessman Serge Pun. - Interra Resources: oil and gas exploration and pdtn operations in Myanmar. - Sin Heng: to set up a Myanmar JV for heavy eqpt leasing, rental and distribution. Recent entry of Japanese strategic shareholder, Toyota Tsusho paves the way for Sin Heng to benefit from closer sovereign ties btwn the Japan and Myanmar. - Super Group , Viz Branz: have pdtn facilities and some sales exposure for packaged foods pdts in Myanmar. - UPP: to enter Myanmar to carry out engineering and infrastructure works.