Transparency International and Myanmar: An Exercise in Futility Reply

rangoonReposted from Network Myanmar

Corruption is a serious issue in many countries in South East Asia, not least in Myanmar. This has been recognised by President Thein Sein’s reformist government and highlighted in his major speeches. In late November the Ministry of Home Affairs issued a statement on the matter, adding that they were drafting new anti-corruption legislation to replace the current law which dates from 1948.

Although this is all still very much work in hand, I was nonetheless at first surprised to find that Myanmar is again relegated to a very lowly position in the latest Corruption Perceptions Index (CPI) released on 5 December 2012 by Transparency International (TI). Myanmar occupies the 172nd place out of 176 countries reviewed. The reason for this, I soon discovered, is no mystery. Samantha Grant, TI Regional Coordinator for Asia Pacific, acknowledged to the Chiang Mai-based “The Irrawaddy” that Myanmar’s reform process has not yet had any impact on their latest corruption ranking and that some of the information for the survey is two years (and I suspect maybe more) out of date. More…

Myanmar: Gold Mine or Sink Hole? 1

Chairman of Leopard Capital (Marc Faber) is seeking to raise $150 million for two Myanmar-focused funds.

Chairman of Leopard Capital (Marc Faber) is seeking to raise $150 million for two Myanmar – focused funds.

Reposted from The Wall Street Journal
By PATRICK BARTA

YANGON, Myanmar—Private-equity firms are divided over whether Myanmar will be a source of huge profits, or just another place to endure losses. More…

Asia private equity funds line up dollars for Myanmar 1

Yangon, Myanmar

Yangon, Myanmar

Reposted from The Economic Times

SINGAPORE/HONG KONG, May 25 (Reuters) – Hong Kong’s Cube Capital and Marc Faber-backed Leopard Capital are among Asian private equity firms lining up nearly $500 million aimed at Myanmar, hoping to tap into its rich natural resources and fill its infrastructure void, as sanctions on the former pariah state are lifted.

After 50 years of military rule, Myanmar is one of Asia’s poorest countries, but with abundant resources like oil and gemstones, it’s one of the last untapped frontier markets. Dramatic political reforms have opened the path to foreign financial investments, though putting money to work there is expected to take time. More…

Buyout giant TPG to Myanmar as sanctions slacken, reports Altassets Reply

(To view the original article from Altassets, please click here).

Altassets reports in an article entitled “Buyout giant TPG could chase Leopard to Myanmar as sanctions slacken”, TPG Capital co-founder David Bonderman is looking at investment opportunities in Myanmar. Bonderman traveled to the Southeast Asian nation last week to view investment prospects amidst the suspension of economic sanctions from several western nations following political reforms within the ex-military dictatorship. More…

TPG’s Bonderman visits Myanmar Reply

A man rides his trishaw in Yangon, Myanmar

A man rides his trishaw in Yangon, Myanmar

Reposted from The Financial Times
By Gwen Robinson and Henny Sender

David Bonderman, co-founder of US private equity group TPG, visited Myanmar last week to meet political and business figures in the latest sign of growing investor interest in the country amid the easing of western sanctions.

In the first visit by a top US private equity investor since the reformist government of President Thein Sein came to power in early 2011, Mr Bonderman met U Soe Thein, Myanmar’s minister for industry; government officials; opposition leader Aung San Suu Kyi; and local business leaders. His aim, according to a person involved in the discussions, was to “get a sense of new investment opportunities and the emerging regulatory framework”. More…

Investors see Myanmar as a gold mine with frontier risks Reply

Reposted from The China Post
By Kyoko Hasegawa

TOKYO — As Myanmar prepares for an economic resurgence following the end of decades of military rule, wide-eyed firms from all over Asia are competing for a piece of the potentially lucrative pie.

With largely untapped natural resources, including minerals, metals and fossil fuels, and a tourism sector left in ruins by sanctions, Myanmar sparkles with opportunity. More…