Business news from Myannmar (26 Nov

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Subject: Business news from Myannmar (26 November 1999)

MyaBuzz
Business news from Myannmar (26 November 1999)

C O N T E N T S
1126-01 Thailand Exhibit In Yangon
1126-02 Sapphires Sale In Mogok
1126-03 Service Agreement on Telecommunication
1126-04 Singapore Company Discuss Palm Oil Production
1126-05 Myanmar Finance Minister Off To Manila
1126-06 Coop Bank Shares Available
1126-07 Myanmar Statistics
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1126-01 Thailand Exhibit In Yangon
**Thailand's Export Promotion Dept. is arranging to stage the "Thailand
Exhibition" in Yangon next week.

The exhibition will display Thai products ranging from vehicles, electronic
goods to household products and cosmetics in its four days exhibition
starting 1st December.

1126-02 Sapphires Sale In Mogok
**Myanmar Economic Holding Corporation is to auction uncut sapphires in
Mogok town, about 680-km southwest of Yangon.

The auction will be held in a motel in Mogok town on 14th December. Myanmar
merchants as well as the foreign tourists are expected to attend the sale
event.

1126-03 Service Agreement on Telecommunication
**Myanmar's Telecommunications Ministry and I.I (W.S) Company of West Samoa
signed an agreement for the International Transit Traffic from the
Philippines and India on 24th November in Yangon.

Under the agreement, the Western Samoa Company will hire a transponder to
alleviate international telephone link from Myanmar.

Last September, Myanmar Telecommunications Ministry entered into agreement
with the Telephone Organizations of Thailand, and Shinawatra Satellite
Public Company Limited to open 30 new channels for Myanmar-Thai direct
communication via VSAT satellite. The construction of the satellite ground
station is already underway in Yangon.

Myanmar's Telecommunications department is also undertaking linkage work to
Asia-Europe under water cable communication and digital microwave link
project between Yangon and Myanmar's second capital Mandalay.

1126-04 Singapore Company Discuss Palm Oil Production
**Head of Myanma Investment Commission met on 24th November with the
visiting Managing Director of Singapore's Asia-Pacific Bulk Terminal
(Holding) Ltd in Yangon.

The Singaporean company is likely to invest in palm oil plantation and
construction of palm oil factory in Myanmar.

According to the latest account of Myanma Investment Commission Singapore's
current investment in Myanmar is around US$ 1,500 million.

1126-05 Myanmar Finance Minister Off To Manila
**Myanmar Finance Minister left Yangon on 24th November to attend the ASEAN
special meetings to be held in Philippines capital Manila this week.

ASEAN is holding its informal summit and scheduled meeting with the
high-ranking government officials from China, Japan and Korea in coming
week in Manila.

1126-06 Coop Bank Shares Available
**Cooperative Bank (CB), a Cooperative Ministry owned bank is opening its
new branch in Maungtaw town, close to Myanmar-Bangladesh border soon.

The bank will give particular emphasis on money remittance for merchants
engaged in border trade with Bangladesh.

The bank also announced its new plan for distributing bank shares.  The
bank is planning to sell Kyats 20 million (US$62,500) worth of shares, each
share worth Kyats 50,000(US$156.25), to the public.

1126-07 Myanmar Statistics
**Every Friday Myabuzz will feature figures related to investment & trade.
 >From time to time, Myabuzz will also include general Myanmar statistics
that will aid the investor in his decision-making duties.

1. Myanmar's southwestern Ayeyawady province is all on efforts to expand
its agricultural acreage. The cultivatable acre in the province is expected
to grow by 500,000 acres over the next few years.

2. Drilling work is underway to prove the iron ore reserves at Kathaing
mountain area near Myanmar's northern Kachin provincial capital city,
Myitkyina. The iron ore reserve in this region is assumed to have iron ore
of 200 million ton. Myanmar northern Kachin province is also the jade and
coal rich region.

3. Myanmar is exporting over 30,000 tons of pulses and beans monthly, 40%
of the exports are the beans. Myanmar's pulses and beans carry around
US$300 per ton in the international market. Myanmar is earning US$ 180
million from pulses and beans exports annually.
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