Tuesday, November 12, 2013

Democratic Voice of Burma

Democratic Voice of Burma

Burmese Buddhists protest OIC visit

Posted: 12 Nov 2013 03:34 AM PST

Hundreds of Buddhist monks and civilians staged a demonstration in Rangoon on Tuesday to protest a visit to Burma by representatives of the Organisation of Islamic Cooperation (OIC) scheduled for the following day.

Around 500 protestors marched from the eastern gate of Shwedagon Pagoda to the City Hall at around 1pm.

"We don't want foreign countries meddling with our racial and religious affairs – we don't want OIC representatives discussing our racial and religious affairs," said Buddhist monk Parmouhka of Magwe Pariyatti Monastery in Rangoon's North Dagon township. "If they [OIC] set up an office in our country it will create religious riots. This is our country and we want it to be under our rule."

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Meanwhile, another 300 people held a similar protest in Insein township, on the other side of the city. Organisers of both demonstrations received official permission from local authorities to stage the protests.

"We don't want the OIC in Burma, and we would like the people of our country to be aware of the Citizenship Law," said Naung Taw Lay, a protest organiser. "We are calling for action to be taken against corrupt government officials and the animals who are trying to become citizens of our country by deceitful means."

The OIC delegation – which arrives on Wednesday and is due to visit Arakan state on Thursday – will consist of high-level officials and foreign ministers from Saudi Arabia, Egypt, Turkey, Bangladesh, Indonesia and Malaysia.

Ekmeleddin Ihsanoglu, the general secretary of the OIC, recently told a Saudi news agency that the delegation aimed to show the Islamic world that it was paying serious attention to the plight of the Rohingya Muslims in Burma.

But the Burmese government's Deputy Information Minister Ye Htut said the OIC delegation was only on a routine diplomatic mission.

"This trip has nothing to do with the OIC opening an office in this country," he said. "The government of Burma will never approve anything that will harm the sovereignty of our nation and we want our people to know that."

He added that the Burmese government had only arranged for the OIC delegation to observe the rehabilitation process for Rohingyas and to meet with leaders of both communities as well as representatives of political parties."

The OIC delegation is also scheduled to meet with Burmese government officials and opposition leader Aung San Suu Kyi during their visit.

MSF suspends Pauktaw operations after ‘misunderstandings’

Posted: 12 Nov 2013 01:36 AM PST

Médecins Sans Frontières (MSF), along with other international NGOs, is suspending operations in Arakan state's Pauktaw township following what it has termed "misunderstandings" that led to tensions with local Arakanese Buddhists.

Michele Trainiti, MSF's liaison officer for Arakan state, told DVB via his translator that several NGOs have temporarily suspended some of their operations in Pauktaw township following an altercation with local Arakanese Buddhists earlier this month.

"Some organisations have temporarily cut operations in the Pauktaw region due to a misunderstanding among the local public," said Trainiti. "We can only speak for MSF, but we are working closely with the government and will resume normal operations as soon as the situation gets better. We have currently cut down operations with our [mobile] boat clinic."

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He said that MSF was informed on 2 November that there were four patients with gunshot wounds at a Muslim IDP camp in Pauktaw. The group transported three of them – the ones with serious conditions – to Sittwe hospital. MSF staff were later informed that two Arakanese Buddhists had also been submitted to the hospital with wounds.

"The major misunderstanding is that the Arakanese [Buddhist] public think we were aware of the two Arakanese [Buddhist] patients but decided not to help them," said Trainiti. "This is not true – as an organisation providing medical assistance, we have never discriminated against a patient; we have never made considerations based on one's race and religion, but only on their condition."

Residents of Sittwe later staged a protest in the town accusing MSF of bias against Buddhists. The Arakan state government then summoned several NGOs last week and warned them against the alleged bias.

Burma looks to its lucky stars for SEA Games success

Posted: 12 Nov 2013 01:00 AM PST

With just one month to go till the Southeast Asian (SEA) Games begins in Burma, it has not escaped our attention that the opening ceremony in Naypyidaw will take place on 11.12.13, a catchy and auspicious date.

Everyone remembers that the former military generals of Burma – and none more so than dictator Gen. Ne Win – enjoyed a dark penchant for numerology, and a superstitious inclination toward the number 9.

Still, it's probably no more than a coincidence that the numerals from that date, 1, 1, 1, 2, 1 and 3, add up to nine. Some mystic conspiracy theorists might also point to the fact that these are the 27th SEA Games (2 + 7 = 9) or the fact that it is 44 years since Burma last hosted this event, making a nice sequence: 11, 22, 33, 44 – when one invokes the notion that the games will take place between the 11 and 22 of December, will feature 33 sports events, and is hosted in Burma for the first time in 44 years.

Even those among us who do not regard these numbers as ominous will acknowledge that Southeast Asians, Buddhists in particular, put much weight on selecting auspicious dates and times for important events. Indeed it is highly possible that one of Burma's famous soothsayers played a hand in helping the games committee tackle the challenges they were tasked with when the country was controversially awarded the honour of hosting this sports extravaganza back in 2010.

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The logistical mountain facing the remote Burmese capital appears to have been conquered. The preparations have been all-encompassing. The main Wunna Theikdi stadium has taken three years to build but is ready on time, looking pristine and appropriate for international sporting gladiators with a capacity of 30,000 spectators.

Visas on arrival are being offered to tourists during the games in order to boost attendances. More flights, buses and tours to Naypyidaw are to be laid on. Fearing that the swelling of activity causes an electricity blackout, large generators have been brought in. Speaking to The Irrawaddy recently, an anonymous official said that if a power cut occurred during the opening or closing ceremonies, the loss of face would be so severe that the responsible officials and ministers would be fired.

Some US$6 million is being spent on security training for hotel staff, and CCTV security cameras are to be installed at all major hotels. A Filipino sports official had earlier expressed his concerns about the security situation following a series of bomb blasts in Rangoon and other parts of the country; however SEA Games Operations Committee Chairman Zaw Winn, who is also Burma's deputy minister of sports, told Channel News Asia that the Ministry of Home Affairs has made the necessary security arrangements for the event and that he "is not worried" about their ability to provide security for visitors.

ATMs are suddenly sprouting up in the capital, and to counter the current lack of telecommunications services, the government has announced it will hand out 30,000 free temporary SIM cards to athletes and trainers.

Local authorities are hoping that 1,000 taxis will be on the streets of Naypyidaw during the games to cater for the hundreds of thousands of spectators, tourists, athletes, officials and media who will descend en mass for those 11 days.

In total, the bill the Burmese government will pick up for the SEA Games is estimated to be in the region of 340 billion kyat (US$350 million).

Nonetheless, excitement levels are high and many Burmese are rightly proud to play host to this event. LED screens are to be installed in public areas around Naypyidaw so that non-paying spectators can enjoy the sporting feast, while a proposal to close schools to allow students and children to watch the games is presently being discussed.

The government is clearly determined to make the SEA Games a success and to use the event as a springboard ahead of Burma's assumption of the chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2014.

President Thein Sein has urged all Burmese sportsmen and women to do their best and to win as many of the 1,557 medals as possible. Sports Minister Tint Hsan has set the Burmese team a goal of 100 gold medals. The last time Burma hosted the SEA Games in 1969, they won a record 57 golds.

Winning a gold medal in the men's football would be the highest aspiration of most Burmese sports fans. Burma's "dream team" of the 1960s, known as the White Angels, last won gold at the 1973 SEA Games in Singapore, after dominating the event for a decade with triumphs in 1965, 1967, 1969 and 1971.

"The football gold medal is very important," Deputy Sports Minister Thaung Htike told Singapore Today. "If we have no gold medals in other sports … but the men get gold in football, the whole nation will be happy."

The team finished third in 2011 but has been preparing well for this year's tournament with a tough pair of practice matches against high-ranking South Korea and Japan.

In last week's draw for the men's football, Burma was drawn against East Timor, Cambodia, and two of the competition's favourites, Thailand and Indonesia. All matches will take place at the Zayar Thiri Stadium in Naypyidaw and a feverish partisan atmosphere is eagerly anticipated.

But whether Burma emerges triumphant or not, most Burmese will settle for a well-organised and peaceful 11 days of sport, hoping that the TV exposure of the Golden Land to the rest of the region will bring some much-needed prestige to the country.

Burmese firms look to list on Singapore Exchange

Posted: 11 Nov 2013 07:57 PM PST

At Rangoon International Airport, large blue and white signs in the arrival and departure halls promote Singapore’s stock exchange as the go-to destination for Burmese businesses seeking capital.

The advertisements underscore Singapore’s nascent role as a magnet for Burma's companies eager to grow as their country emerges from decades of isolation but frustrated by its crippled banking system and barely existing financial markets.

Lawyers and financial advisors who work closely with Burmese firms say about six to 10 companies are considering a listing in Singapore over the next couple of years.

“Many Burmese business owners admire the reputation of Singapore Inc and look forward to raising their own prestige that comes with a Singapore listing,” said Kim Huat Chia, head of corporate & capital markets at Singapore law firm Rajah & Tann.

But hurdles to successful offerings are high.

Singapore’s bourse says while it has seen interest from Burmese companies, they will have to meet its corporate governance standards. For many businesses, that’s still quite a distant goal, lawyers and bankers said.

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That’s further complicated by several Burmese tycoons being on a U.S. sanction list, accused of making their fortunes by colluding with the former military junta, which was notorious for corruption and human rights abuses. While the European Union ended sanctions this year, the United States has only suspended them.

The potential for resistance from Burma's government, which is planning its own stock exchange, has also made some local businesses wary about tapping capital markets offshore.

To date, only one Burmese firm has managed to list in Singapore – Yoma Strategic Holdings Ltd, which listed in 2006 through a reverse takeover.

The property and car sales conglomerate led by tycoon Serge Pun now counts Capital Group, Aberdeen Asset Management and Vanguard among its top 10 shareholders and has seen its share price quadruple since early 2012 on investor interest in the hot frontier economy.

It’s only natural that other Burmese firms would want to follow suit.

“To this day in Burma, there’s no stock market, no bond market, no banking market to talk about. There are quite a few companies that are asset-rich but have no source of liquidity,” said Andrew Rickards, chief executive of Yoma.

“If it was smart to do an RTO (reverse takeover) in 2006 for Yoma, it’s absolutely necessary now for companies to have access to international markets.”

But if corporate Burma is drawn by Yoma’s example, it is also wary of what happened to Zaw Zaw, one of Burma's most powerful businessmen.

Singapore Exchange Ltd effectively rejected in April a proposed reverse takeover deal that would have seen Zaw Zaw inject his petrol kiosk business into bed linen retailer Aussino Group Ltd.

It said it was “unable to proceed with the review of the application as major issues have not been adequately resolved.” Among these concerns, it cited Zaw Zaw’s placement on the U.S. sanctions list and the lack of clarity as to why he was on it. Zaw Zaw could not be reached for comment.

Burma’s corporate landscape is dominated by about 20 large conglomerates, with the biggest ones estimated to employ as many as 30,000 people each.

For those and smaller Burmese companies seeking funds, bank loans are often hard to obtain, with urban land usually demanded as collateral and interest rates high, said Aung Thura, CEO of Rangoon-based research and capital markets firm Thura Swiss.

The country does have an over-the-counter bourse, the Myanmar Securities Exchange Centre (MSEC), but it has only two listed firms. When the stocks are traded, which is very rarely, payments are normally made in cash.

A few companies have gone public, but not on the MSEC. Instead they sell shares from their offices or even in public places, letting people know by taking a newspaper advertisement or just through word of mouth, Aung Thura said.

While Burma’s government is working to establish a stock exchange by 2015 with the help of Japan’s Daiwa Securities Group , many in Burmese business circles worry that the deadline may be pushed back. Still, going offshore may risk incurring the displeasure of the government.

A senior executive at a Burmese resources firm said several companies have been informally warned by authorities not to list in other markets such as Singapore. Burmese officials have denied issuing such warnings.

“We haven’t protested against any company concerning this and nor have we received any confirmed information about Burmese companies planning to be listed in Singapore,” said Aung Naing Oo, director general of the Directorate of Investment and Company Administration, part of the Ministry of National Planning and Economic Development.

For now, most Burmese firms are reluctant to be too forthcoming about fund raising plans, preferring to keep their options open, which may also include partnering with a strategic or private equity investor.

City Mart Holding Co Ltd, which runs Burma’s biggest supermarket chain, is considering a Singapore listing, but it is also weighing other alternatives, a company spokeswoman said.

Aung Zaw Naing, managing director of construction and hydropower conglomerate Shwe Taung Group of Companies, says his company’s plan “depends on the situation of the stock market that will emerge here soon.”

For investors keen on Burma's story, some of the first listings are likely to be Burma-focused firms that are part of an international group.

Mongolia-based Silk Road Finance is considering a Singapore listing within three years for Mandalay Capital, a unit that provides corporate and advisory services to Burmese firms and international investors, its chairman Alisher Ali told Reuters.

Singapore-listed engineering firm ISDN Holdings Ltd , which has joined hands with Tun Thwin Mining Co Ltd to build and run a coal-fired power plant in northwest Burma, said last month it may look at separate listings for its coal-related ventures in Burma.
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