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Jon Springer
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I studied political philosophy in college at the London School of Economics. I have experience in trust banking. I have been published in the UB Post, Forbes Asia, and on Seeking Alpha. Frontier and emerging markets research and writing is my work. Sri Lanka and Mongolia are the primary focus of... More
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  • Myanmar Investing Blog 69 comments
    Dec 11, 2012 1:24 AM

    I am not going to Myanmar yet. However Myanmar is the hot topic in frontier markets and I get plenty of information about it.

    If you want private equity deals, I can direct you toward some.

    If you want publicly traded securities, the only one that is really a pure play is Yoma Strategic Holdings which trades in Singapore under ticker Z59. However, as of December 2012, multiple people have advised selling Yoma at this time to buy back at a lower price. I own some shares of Yoma but it was a bit of a cavalier position and I'm trimming my own position in Yoma by 80% as of December 2012 on the advice of people who actually have been to Myanmar.

    Lots of links below.

    On Seeking Alpha, I recommend following John Polomny who keeps abreast of everything going in Myanmar and has written up a bunch of blogs about the country. Here's a search for all his Myanmar links.

    Capitalist Exploits has written a lot about Myanmar.

    So has Chris Mayer on the Agora Financial pay-site.

    Other links:

    The Irrawaddy (news, Covering Burma/Myanmar & Southeast Asia)

    Myanmar Business Network

    A guide to doing business in Myanmar made by PWC.

    Introduction to Myanmar traded stocks on and off shore.

    Thailand Law Forum has frequent posts on Myanmar that are thorough and interesting.

    Last updated 14 January 2012.

    Themes: Myanmar, Myanmar Investing
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  •  
    For those in Asia, there will be a Myanmar Investment Summit in Hong Kong May 14-15 2013 http://bit.ly/X7MeXR
    11 Dec 2012, 05:57 PM Reply Like
  •  
    I'll be at the Myanmar Investment Summit in Hong Kong. I will be going to Myanmar 1 or 2 times between now and then.
    25 Dec 2012, 03:39 AM Reply Like
  •  
    This event in Yangon sounds similar.
    http://bit.ly/TxNHIM;
    2 Jan, 11:29 PM Reply Like
  •  
    This link might also be very interesting. Both the index itself, as well as the provider.

    http://on.ft.com/XRS04R

    http://bit.ly/12kEPJc

    Besides the companies mentioned in the index it might be very interesting to follow the goings of CPG Consultants. They have designed Naypyidaw International Airport and are listed in Singapore.
    12 Dec 2012, 05:19 AM Reply Like
  •  
    Thanks for the links Schumpeter_1. Good to have you here.
    12 Dec 2012, 07:03 AM Reply Like
  •  
    More on Myanmar index investing:
    http://bloom.bg/11MtUtV
    21 Jan, 04:28 PM Reply Like
  •  
    Interesting Schumpter_1, thanks.
    21 Jan, 04:38 PM Reply Like
  •  
    Solactive® Myanmar-Focused Asia Index both in USD, CHF and EUR:

    http://bit.ly/10N1j8F

    Just check out the certificate's December report and herein the index weighings. Does Super Group fly under the radar ?
    It seems not very known as a Myanmar proxy to retail investors.

    PTT Energy Thailand 15.00%
    PTT Exploration Energy Thailand 15.00%
    Siam Cement Diverse Thailand 15.00%
    UOL Group Finance Singapore 15.00%
    Super Group Consumer Goods, anti-cyclical Singapore 14.29%
    Parkson Retail Asia Consumer Goods, cyclical Singapore 8.44%
    Italian-Thai Development Industry Thailand 5.87%
    Yoma Strategic Finance Singapore 4.80%
    Bawang International Group (Consumer Goods) Hong Kong 2.71%
    UPP Singapore 2.41%
    Interra Resources Energy Singapore 1.50%
    21 Jan, 04:54 PM Reply Like
  •  
    Perhaps a bit off topic, but this company might also be interesting to follow as it plans to expand to Myanmar: Kolao Holdings.
    http://bit.ly/RoFrMU

    Especially since Korean businesses are already quite a time "close" with Myanmar. Also within automotive: http://on.ft.com/W5ixaO.

    (Next to Korean companies, the Thai firms are the obvious winners: http://bit.ly/VvEzXa
    12 Dec 2012, 05:51 AM Reply Like
  •  
    Problems at Dawei (what's supposed to be the big port in Myanmar near Thailand) http://bit.ly/TXAF4B
    18 Dec 2012, 09:11 AM Reply Like
  •  
    It also seems not very supportive to the Dawei project that Siam Cement has chosen for a different factory location.
    http://bit.ly/ZQVrcW
    19 Dec 2012, 06:41 PM Reply Like
  •  
    Small impovements:
    http://bloom.bg/Wn5Fwx
    21 Jan, 04:26 PM Reply Like
  •  
    Posted originally by Schumpeter_1:

    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
    20 Dec 2012, 05:44 PM Reply Like
  •  
    Getting Myanmar exposure:
    http://bit.ly/TmWnE1
    (check the table entirely below)

    Super Group, Yoma and Interra:
    http://bit.ly/12Lh9xT

    Nestle's Myanmar coffee business:
    http://on.ft.com/TmWmjE
    24 Dec 2012, 04:06 PM Reply Like
  •  
    Didn't see a table on the first link. Might need to run the proper link through tinyurl.com?
    25 Dec 2012, 03:38 AM Reply Like
  •  
    Thanks for the comment.

    Does the link below work ?
    http://tinyurl.com/c9n...
    25 Dec 2012, 07:21 AM Reply Like
  •  
    Yes. Thank link works - than you. Other link (earlier) just took me to home page of website. This one takes me to referenced article.
    25 Dec 2012, 12:22 PM Reply Like
  •  
    Myanmar or Burma has some interesting prospects and problems according to this article.
    http://bit.ly/VzvzuF
    26 Dec 2012, 04:17 PM Reply Like
  •  
    Forbes on Myanmar.

    Myanmar, The Last Frontier?
    http://onforb.es/Ym8YnJ

    Visa Touts Plastic, Mobile Payments In Cash-Only Myanmar
    http://onforb.es/TEm7vH

    Can Manufacturing Succeed In Myanmar?
    http://onforb.es/Ym8YDZ

    Myanmar Opens Up, Slowly
    http://onforb.es/TEm4A9

    Myanmar Holds Promise For General Electric As U.S. Eases Trade Sanctions
    http://onforb.es/Ym8VYV

    Exit The Octopus: Myanmar's Tricky Economic Transition
    http://onforb.es/TEm4Af

    Myanmar's Sanctioned Tycoons Jostle For Position
    http://onforb.es/Ym8VYX

    Burma's Showy Crony (Tay Za)
    http://onforb.es/TEm4Aj

    Can Burma Leapfrog Sri Lanka?
    http://onforb.es/Ym8VYZ
    27 Dec 2012, 05:29 PM Reply Like
  •  
    It might be of interest to check for results of the recent Sri Lankan trade mission to Myanmar. Myanmar might boost its exports of food and raw materials to Sri Lanka.
    http://bit.ly/TFm9jN
    1 Jan, 06:45 PM Reply Like
  •  
    Myanmar is in the early stages of improving its agricultural sector. They have a lot of farming potential because they have a lot of arable land extending through the middle of the country within the Irrawaddy River drainage basin.
    http://bit.ly/V9rFNr
    http://preview.tinyurl...
    http://bit.ly/XA2lz0
    http://bit.ly/V9rFx1
    10 Feb, 07:37 PM Reply Like
  •  
    Here is an assessment of Myanmar's recent progress on internal and external political relations.
    http://bit.ly/UCSJE2
    1 Jan, 10:17 PM Reply Like
  •  
    The Mandalay International Airport was considered to be quite an accomplishment at the time of its construction. This up to date facility is centrally located between the large cities of eastern India and southern China. The airport neighborhood may prove to be an attractive business hub in the years to come now that Myanmar is welcoming business.
    http://bit.ly/TxOny3
    2 Jan, 11:37 PM Reply Like
  •  
    Mandalay is becoming more important as the economic destination for the northern interior of Myanmar partly because of its airport. The northern interior region is where most of the mineral wealth and farming occur.
    http://bit.ly/15xjf9H
    http://bit.ly/13LCqrS
    http://bit.ly/15xjgu8
    http://mandalayict.com
    The example of the airport has inspired the national aviation industry.
    http://preview.tinyurl...
    10 May, 08:34 PM Reply Like
  •  
    A couple of upcoming trade shows will highlight Myanmar's wide variety of mineral wealth.
    http://bit.ly/13aKl1u
    http://bit.ly/UNVJxg
    The mineral deposits are conveniently situated between the bustling markets of South Asia, East Asia and Southeast Asia.
    http://bit.ly/13aKj9K
    5 Jan, 06:57 PM Reply Like
  •  
    China's interest in Myanmar is largely due to the fact that Myanmar offers trade routes from China to the Indian Ocean, essentially offering a shortcut for them past Singapore on the way to the Middle East and Africa.
    For example, gas and oil pipelines with a parallel railroad and highway are being built between China and Myanmar's port at Kyaukpyhu on the Indian Ocean.
    http://bit.ly/10dDeYu
    http://bit.ly/13hqe1K
    http://bit.ly/10dDgQ3
    8 Jan, 11:10 PM Reply Like
  •  
    Here's a great primer on Burma's new Foreign Investment Law 2012,
    http://bit.ly/RHNzGY
    10 Jan, 10:20 AM Reply Like
  •  
    Thank you Dr. G! That's a good link and a good site.
    11 Jan, 08:02 AM Reply Like
  •  
    Burma Still an ‘Extreme Risk’ for Investors Despite Reforms
    http://bit.ly/VN71TQ
    17 Jan, 05:46 PM Reply Like
  •  
    Influential people will keep working away on this risky situation as the country becomes better known for its strategic geographical position and economic potential.
    http://preview.tinyurl...
    18 Jan, 07:59 PM Reply Like
  •  
    Jon,

    When are your plans for visiting Myanmar? Buddy of mine just spent a month or so there and LOVED it. He compared it to Thailand 30 years ago.
    22 Jan, 10:07 PM Reply Like
  •  
    Late March/early April I think. Still sorting it out. Need to book tickets ASAP. Good to hear the positive review.
    23 Jan, 03:46 AM Reply Like
  •  
    Jon

    It would be great if you would check out/ interview the UMFCCI in Myanmar: http://on.ft.com/TAXAIm

    Not joining the Leopard Capital South East Asia trip end of May ?
    I know they will visit Cambodia, but I wouldn't be surprised their second country to visit during this mission would be Myanmar.

    By the way, already heard that Wilmar and Cargill are entering Myanmar?
    http://on.ft.com/WsqaHq
    26 Jan, 03:40 AM Reply Like
  •  
    Recommended (!) news source:
    http://bit.ly/Wx1j68

    Provides very valuable insights on company entrance in Myanmar. Mostly Singapore, Thai, Korean and Japanese listed companies entering Myanmar, i.e. news often neglected by non-Asian financial media. Read that Marc Faber's favorite Bangkok Dusit Medical Services was also entering.

    ( it's not to difficult to open up (Asian) broker accounts covering Thai and Singapore markets to benefit from early mover advantage)
    26 Jan, 05:05 AM Reply Like
  •  
    Hi Schumpeter,

    Added Myanmar Business to news sources - thanks

    What Leopard Asia trip? (I seem to need to fix my updates from them)...
    26 Jan, 10:03 AM Reply Like
  •  
    One million tourists went to Myanmar in 2012 http://bit.ly/143Jr8t

    Related... Myanmar to become Thailand's tourism competition (?) http://bit.ly/10HoG2w
    23 Jan, 04:09 AM Reply Like
  •  
    Rental prices already "too high" for corporations? http://bit.ly/V6hQge
    23 Jan, 04:11 AM Reply Like
  •  
    Chinese predict June opening for Burma pipeline
    "The trans-Burma oil and gas pipelines are expected to be completed on May 30, according to Chinese contractor Gao Jianguo, the head of the project under the China National Petroleum Corporation (CNPC), according to a report on Monday by the Chinese national news agency, Xinhua."
    http://bit.ly/143JWPE
    23 Jan, 04:12 AM Reply Like
  •  
    The new oil pipeline crosses potentially wealthy oil fields in the Central Burma Basin on the way to the oil port at Kyaukphyu, located on one of the promising offshore oil fields in Rakhine State. It looks like China will be able to import a lot of gas this way from Myanmar itself, not just from the Middle East. Sectarian violence in Rakhine State might cloud this scenario.
    http://bit.ly/W3DljQ
    http://on.doi.gov/YHjXNR
    http://bit.ly/W3Dofi
    31 Jan, 06:08 PM Reply Like
  •  
    The new oil pipeline might have a competitive impact on the oil tanker business servicing China.
    http://bit.ly/ZZY1fs
    16 Mar, 01:13 PM Reply Like
  •  
    Oliver Belfitt-Nash, formerly of Monet Capital in Mongolia, is relocating to Myanmar. He will be doing an investing news blog service via e-mail on Myanmar. To subscribe, e-mail him at olibn333@yahoo.com
    23 Jan, 04:29 AM Reply Like
  •  
    Anyone any idea on Yoma's 14% jump ?
    23 Jan, 02:58 PM Reply Like
  •  
    I got an idea I sold too soon... but no...
    23 Jan, 09:25 PM Reply Like
  •  
    Jon

    I sold completely 74 cent at before it went to 92,5 cent. So I got the same idea. Any idea what realistic price your resources had in mind ?
    9 Feb, 06:45 AM Reply Like
  •  
    Heading to Myanmar in June for a week or two to visit my friend and his family. Jon, I would love to be able to tap into your network and meet some of the expat business people. I will meet the locals through my friend.
    24 Jan, 01:17 AM Reply Like
  •  
    Myanmar is gaining attention for its gas and oil reserves, thereby raising prospects for future economic growth.
    http://bit.ly/Wis8Nu
    http://www.energy.gov.mm
    http://slidesha.re/WpctZG
    http://bit.ly/Wis7t6
    24 Jan, 01:30 PM Reply Like
  •  
    Myanmar shares plenty of business news in order to acquaint the world with its economic potential.
    http://bit.ly/Wx1j68
    http://bit.ly/Wx1hLG
    http://bit.ly/W2z9BM
    24 Jan, 01:42 PM Reply Like
  •  
    And there are lots of business news to catch up on in this blog.
    http://bit.ly/WApyQU
    25 Jan, 02:15 PM Reply Like
  •  
    Hi VB,

    Leopard Capital's blog site is on my list of frontier market authors - http://bit.ly/ULc4jC - and is planning two different private equity funds for investing in Myanmar (one for real estate, the other for business).
    25 Jan, 05:40 PM Reply Like
  •  
    Thanks, Jon, now I see it down the list.
    I keep thinking that here is a situation, if they work it to their advantage, Myanmar will be a prime destination for Asian capital perhaps more so than faraway Africa.
    25 Jan, 06:11 PM Reply Like
  •  
    A book to read for those interested in Myanmar/Burma investing.

    Burma and the Burmans, or "The best unopened market in the world"
    Archibald Ross Colquhoun
    $10 on Amazon http://tinyurl.com/bzm...

    58 pages... and oh yes, almost forgot, it was published originally in 1885 after spending time in Burma and consulting other writings such as Forbes' "Burma", Fytche's "Burmah", various works by Fraser such as "Among the Burmese", et cetera.
    25 Jan, 06:23 PM Reply Like
  •  
    It's a shame I cannot copy and paste images or word tables right here. Had been checking Myanmar's favorite/ most valued brands 2011:

    1. Laser= toothpaste, soap => privately owned
    http://bit.ly/Votngc

    2. Super = instant coffee => Super Group, Thai listed
    http://bit.ly/XCD05c

    3. Godzilla= Mosquito Coil => privately owned Diesel King Co
    http://bit.ly/Votmca

    4. Yum Yum, instant noodles => Wan Thai Food, (Thai privately ?)
    http://bit.ly/XCD05e
    http://bit.ly/Votmcc

    5. Berman = ?

    6. Family Care = soup or musquito coils ?
    http://bit.ly/XCD05g
    http://bit.ly/Votngg

    7. E-Lan= soap, shampoo, detergent => privately
    http://bit.ly/XCD05k
    http://bit.ly/Votngm

    8. Jumbo= musquito coils and household insecticides=> Malaysian listed Texchem Resources Bhd
    http://bit.ly/XCD1pU
    http://bit.ly/Votmce
    http://bit.ly/XCD1G8
    http://bit.ly/VotnwA

    9. Alpine= purified drinking water=> Myanmar privately owned
    http://bit.ly/XCD1Gc
    http://bit.ly/VotnwB
    http://bit.ly/XCD1Ge

    10. Calsome= cereal mix => Singapore listed Viz Branz
    http://bit.ly/VotnwC
    http://bit.ly/XCD1Gg
    (comparison Nestle, Super and Viz Branz instant coffee)
    http://bit.ly/Votmsw


    Source:
    http://bit.ly/XCD30O
    Page 17, below
    26 Jan, 07:45 AM Reply Like
  •  
    Big mistake:
    Super Group = Singapore listed
    26 Jan, 12:12 PM Reply Like
  •  
    Myanmar's teak industry contributes a lot to the country's economy. The industry does not appear to be easy to invest in by foreigners at this time but it is interesting to read about. Teak has a beauty to it.
    http://bit.ly/SRFhNk
    http://bit.ly/10QeZtY
    http://bit.ly/SRFhNq
    http://yhoo.it/10QeXSZ
    26 Jan, 02:10 PM Reply Like
  •  
    Myanmar has good news coming to it regarding their debt situation.
    http://bit.ly/14oxHfL
    27 Jan, 11:32 PM Reply Like
  •  
    wow
    27 Jan, 11:38 PM Reply Like
  •  
    I think it means that Japan is eager to seriously invest in Myanmar for both economic and strategic reasons. Economic: lots of untapped natural resources and a new population of consumers moving up the economic ladder. Strategic: Myanmar's position on the other side of China on the Indian Ocean rim.
    28 Jan, 12:10 AM Reply Like
  •  
    Very exciting. I'm glad I will be visiting in June.
    28 Jan, 12:44 AM Reply Like
  •  
    It looks like Japan and Myanmar have barely begun their trading possibilities. The two countries are working on a formal investment treaty to facilitate investment and trading.
    http://bit.ly/14ppurL
    Here are some examples of Japanese involvement in the Myanmar business scene.
    http://bit.ly/113kFqa
    http://preview.tinyurl...
    http://bit.ly/14ppurN
    http://preview.tinyurl...
    http://bit.ly/113kCKU
    28 Jan, 04:24 PM Reply Like
  •  
    Myanmar is of paramount importance to India's Look East Policy. India has formal trading relations with the Association of Southeast Asian Nations with Myanmar being the ASEAN country located next to India. India has been working on a closer economic relationship with Myanmar with the ASEAN relationship being a prime factor. Trade between the two countries is now beginning to accelerate.
    http://preview.tinyurl...
    http://bit.ly/115IkGt
    http://bit.ly/XeXi6s
    http://bit.ly/115Ik9v
    http://bit.ly/XeXjqZ
    http://bit.ly/XeXjr1
    29 Jan, 04:36 PM Reply Like
  •  
    India is working on a few public works projects in Myanmar and adjacent Indian borderlands. They are subject to occasional delays. Trading and other economic activities might be easier to get done when the projects get completed so long as they are well thought out.
    http://bit.ly/11a3zBq
    http://preview.tinyurl...
    http://preview.tinyurl...
    http://bit.ly/WdYHNm
    http://bit.ly/11a3zBw
    http://bit.ly/WdYERq
    http://preview.tinyurl...
    29 Jan, 05:13 PM Reply Like
  •  
    It will be interesting to read what the U.S. Chamber of Commerce will report about their mission to Myanmar.
    http://1.usa.gov/VPA1MD
    11 Feb, 12:36 PM Reply Like
  •  
    Most of the American trade with Myanmar so far has been through the auspices of the ASEAN network. The trading relationship between the two countries will probably become more direct as it develops.
    http://bit.ly/Y6LIL1
    http://1.usa.gov/UZ2PCc
    http://bit.ly/Y6LIL3
    http://preview.tinyurl...
    11 Feb, 01:01 PM Reply Like
  •  
    The American delegation is meeting with Myanmar's officials in hopes to improving America's ranking in the country's level of foreign investment. The American investment is only 0.58% of the total calculated the last time it was measured.
    http://bit.ly/127Av3z
    26 Feb, 03:49 AM Reply Like
  •  
    Mitsubishi and Yoma Strategic Holdings Ltd. sign MoU:
    http://bit.ly/Xo86Aw

    There's a lot going at the moment:
    http://bit.ly/Wx1j68
    18 Feb, 02:31 PM Reply Like
  •  
    Interesting:
    MEA's biggest mobile phone operator also eying Myanmar telecom license:
    http://on.ft.com/ZgwncN
    16 Mar, 06:30 PM Reply Like
  •  
    Here's a few recent developments regarding Myanmar's trade outlook for the next few years. The trade outlook continues to brighten for Myanmar.
    http://1.usa.gov/183aCPJ
    http://bit.ly/Ya8Z3P
    http://bit.ly/183aCPT
    http://preview.tinyurl...
    26 Apr, 05:02 PM Reply Like
  •  
    Yangon, Myanmar's largest city, serves as the country's trading hub. The city expects to expand a great deal in coming years.
    http://bit.ly/15xdrx5
    http://preview.tinyurl...
    http://bit.ly/15xdtF3
    http://bit.ly/13LuWoQ
    http://bit.ly/15xdrNl
    Yangon has a busy river port located a bit inland from the Indian Ocean.
    http://bit.ly/13LuWoU
    10 May, 07:36 PM Reply Like
  •  
    Myanmar is expected to set up a stock exchange within a few years.
    http://bit.ly/15G3CwB
    http://bit.ly/13eIE0Q
    13 May, 01:14 PM Reply Like
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