Myanmar new airport

Myanmar new airport: Myanmar will begin construction of a new international airport, the Hanthawaddy International Airport (HIA), by July this year, local media said. Estimated to take three years to complete, the airport lies in central Bago region, covering an area of over 3,645 ha. A total of seven prequalified firms in terms of financial strength, experience record, skilled personnel and strong eqpt resources for tendering the HIA project have been selected. After their prequalification bid, these firms are to submit formal tenders for the project which will be implemented through public-private partnership, JV or the build-operate-transfer (BOT) system in accordance with Myanmar's Foreign Investment Law. The airport will be so designed as to handle 10 m passengers a year. The prospective HIA will be the 4th of its kind in Myanmar after that of Yangon, Mandalay and Nay Pyi Taw. Myanmar is also carrying out a plan of privatizing all domestic airport management businesses to promote the civil aviation industry. Yongnam, together with the Changi Airport Group, is among the 7 prequalified firms mentioned above. Positive tender results, expected to be out in Apr ’13, would be a rerating catalyst for the co. The stock trades at 7.6x P/E, 1.1x P/B. Other SGX-listed plays with airports exposure include, SATS, Pteris, Stratech.