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John Polomny
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John Polomny is an individual investor and speculator seeking unique, overlooked, and well researched opportunities and speculations from all over the world.
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  • Debit Cards Introduced In Myanmar 8 comments
    Sep 23, 2012 8:39 PM

    NYT:

    Myanmar launched its first debit cards on Friday, giving customers the chance to use plastic for shopping, dining and travel for the first time in the latest leap forward for its cash-dominated economy.

    The central bank announced the formation of the Myanmar Payment Union (MPU), in cooperation with 17 banks, which will let customers take out cash from any ATM machine nationwide and make payments in a small number of shops, restaurants and offices.

    "Now we still have a cash society, but we're heading towards a cashless one," Ye Min Oo, secretary of the MPU, said at the launch in the commercial capital, Yangon.

    Debit and credit cards have been available for years in most neighboring countries but the arrival of plastic in Myanmar is a significant step for an economy lumbered with an antiquated banking system after decades of Western sanctions and disastrous fiscal policies under a military regime.

    Just another example of how fast Myanmar is advancing its economy. We have to keep in mind that improvements such as the movement towards a more modern banking system will make the economy more efficient and facilitate even more commerce.

    Themes: Myanmar
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Comments (8)
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  • Schumpeter_1
    , contributor
    Comments (211) | Send Message
     
    Interesting !

     

    John, have you also read the Reuters article about possible foreign candidates for Myanmar mobile phone industry ?

     

    "Among companies that have confirmed an interest in Myanmar are Sweden's TeliaSonera AB, and two specialists in emerging Asian markets, Malaysia's Axiata and Norway's Telenor,. "
    http://reut.rs/SvEAc2
    25 Sep 2012, 12:43 PM Reply Like
  • John Polomny
    , contributor
    Comments (494) | Send Message
     
    Author’s reply » No I had not seen that. Things are moving so quickly in Myanmar it is difficult to keep up with all the news! Thanks for that.
    25 Sep 2012, 01:10 PM Reply Like
  • Schumpeter_1
    , contributor
    Comments (211) | Send Message
     
    An update on Myanmar telcos:

     

    http://bit.ly/ZQPvR1

     

    http://bit.ly/TZAo19

     

    Singapore distributor mDR already has an joint venture agreement:
    http://bit.ly/V8sj9e
    19 Dec 2012, 06:15 PM Reply Like
  • willy me this
    , contributor
    Comments (12) | Send Message
     
    The Weekly Business Roundup of The Irrawaddy usually has a nice summary of new companies eying Myanmar.
    http://bit.ly/PC4V8z
    29 Oct 2012, 07:48 AM Reply Like
  • Jon Springer
    , contributor
    Comments (4152) | Send Message
     
    Thanks for that note. *Might* be going to Myanmar for a month or more next summer to investigate. If not next summer, sooner or later...
    29 Oct 2012, 08:54 AM Reply Like
  • John Polomny
    , contributor
    Comments (494) | Send Message
     
    Author’s reply » Thanks for this, keep em coming please.
    29 Oct 2012, 10:52 AM Reply Like
  • karibou
    , contributor
    Comments (35) | Send Message
     
    Yeah!!!!! Advancing so fast that one might think its a fraud, or at least unsustainable.

     

    We have an emerging markets cheerleading squad right here on SA. John and Jon, you guys get letter sweaters. GO TEAM.
    29 Oct 2012, 01:49 PM Reply Like
  • Jon Springer
    , contributor
    Comments (4152) | Send Message
     
    Note to others. Karibou is an embittered former employee of a hedge fund he left in 2006 whose operator now invests in frontier markets (but did not at the time, much to his chagrin, he says). Karibou has therefore concluded that all people who travel to and invest in frontier markets are jerks (a process of anger transference).

     

    Furthermore, Karibou claims to have been slighted of the opportunity to travel to frontier markets as a junior hedge fund employee, yet has never purchased a plane ticket to travel to frontier markets to investigate investment opportunties in them himself on his own dime despite years of time to do so (and his own claims of personal financial success).

     

    I cannot figure out particularly why Karibou's anger has bubbled over to a boil six years after leaving said hedge fun, nor why he takes his anger out anonymously on the internet at others who are not the real focal point of his anger (that focal point being the former hedge fund manager who, at this point, I have to assume, must have dated a woman that Karibou wanted to date - because I can think of no other reason that a grudge could be this irrational for six or more years).

     

    John, once Karibou responds to this message, I suggest you delete the whole chain of conversation, as it is useless to anyone. I apologize for clogging up your instablog, but I wasted over an hour talking to this guy on the phone, and he's got some emotional distress which, for whatever reason, is now pointed at us instead of his primary target in Mongolia.
    29 Oct 2012, 06:57 PM Reply Like
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