Myanmar

Myanmar: SGX-listed counters exposed to Myanmar may be negatively affected from the disparate way of doing business evident by the several delays faced by WE Holdings. Investors should be wary that the proposed transactions of companies to extend their footprint into the country are not a done deal and are subjected to several conditions and risks, especially in a country undergoing rapid development. Other companies that are currently in the midst of its venture into Myanmar include: i) GRP: On its collaboration agreement with Myanmar Golden Star (MGS) Resort & Entertainment to develop and manage properties in Myanmar. ii) UPP: Entered into a US$25m purchase agreement with Mandalay Myotha Industrial Development Public Company (MMID) for a 16.67% stake in Myotha Industrial Park, which span 10,353 acres, and Semeikhon Port, covering 380 acres. iii) Cosmosteel: Group entered a non-binding MOU with undisclosed partner to seek opportunities in the production, sourcing and distribution of piping system components and other steel products in the energy, marine and other industries in Myanmar. iv) TEE International: Signed MOU with Ayeyarwaddy Cement- a subsidiary of A1 Group, to set up a JV-company to develop and operate a fully integrated cement plant to manufacture portland cement for sale in Myanmar.