Myanmar Second Stock Listing MTSH delay to list YSX

Myanmar Thilawa SEZ Public (MTSH) will not list its shares on the Yangon Stock Exchange until the second week of May at the earliest, according to bourse officials, having initially targeted mid-March.

The firm, which is expected to be the second to move its shares onto Myanmar’s new exchange, has not yet received approval from the YSX to list, said Kensuke Yazu, Myanmar representative for the Japan Exchange Group, which co-owns the stock exchange.

First Myanmar Investment became the first firm to list on the exchange on March 25.

Once the YSX gives a firm approval to list, the bourse then requires – due to logistical necessity rather than regulation – 10 business days to prepare the YSX and securities company systems, and make public the company’s disclosure documents and prospectus, Mr Yazu said.

If MTSH were to receive approval this week then the earliest it would be able to list would be the second week of May, he said. The company said in February that it aimed for a listing date in mid-March.

Rudi Rolles, managing director at KBZ Stirling Coleman, one of the securities firms working with MTSH on its initial public offering (IPO), said he expected MTSH to list in mid-May.

MTSH chair U Win Aung told The Myanmar Times in February that MTSH was working with AYA Trust Securities Company, Myanmar Securities Exchange Centre, CB Bank Securities and KBZ Stirling Coleman Securities on its IPO.

Any firm applying to list on the exchange has to go through an examination process, which requires interviewing the company’s staff, accountants and management, Mr Yazu said.

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During the examination the YSX judges whether a firm is eligible to list based on criteria such as “financial soundness, corporate governance and [the] internal management system”, he added.

The examination typically takes at least 45 days and the YSX began examining MTSH in February, he said. The fact that MTSH had yet to receive approval was due to the long New Year holiday rather than issues with the company, he said.

That MTSH has so many shareholders could also mean the listing takes more time, Mr Yazu said. When FMI listed on March 25 it had 6800 shareholders, whereas MTSH has more than twice that number. In order for these shares to be traded on the YSX each shareholder has to first open an account at a securities firm.

“MTSH has more than 15,000 existing shareholders and all [the] securities companies [are] trying very hard to manage the situation,” Mr Yazu said, adding that he understood the process was going smoothly.

When trading in MTSH does start, the increase in the number of people buying and selling shares on the YSX could also present problems. Even dealing with the rush of demand to trade FMI shares caused issues for securities firms, who struggled to properly explain trading risks to so many eager clients.

FMI chair Serge Pun called a meeting of securities companies at the end of March after his firm’s shares lost and then regained 24 percent of their value in just a few hours.

One factor in these swings may have been that brokers at securities firms had difficulty explaining how different types of bids and offers worked due to the sheer volume of new investors, said U Thet Htun Oo, executive senior manager at the YSX administration department.

FMI’s shares closed at K33,000 yesterday, down K1000 from the previous day. The shares were listed at K26,000 and hit a high of K41,000 in late March.

Mr Rolles declined to comment on whether KBZ SC had hired new brokers in preparation for trading MTSH shares.

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Pizza Hut Aim to open 20 restaurants in Myanmar in the next 5 years

Investors behind Pizza Hut in Myanmar say they plan to open 20 restaurants in Yangon and around the country over the next five years. Hot on the heels of the opening of its first restaurant in Yangon, CM Jardine Restaurant Group opened its second outlet in early 2016, said Vipul Chawla, CEO of Pizza Hut, Yum Brands Asia.

Pizza Hut is a subsidiary of Yum Brands, which also owns KFC and other international brands like Taco Bell.

“Pizza Hut has 25 restaurants for every million people in the United States. In Asia, there are 11 restaurants per million people. Myanmar has huge potential with a population of over 50 million dollars,” said Mr. Chawla the official launch of pizza Hut in Myanmar.

“We will expand from 15 to 20 restaurants over the next five years,” he said, adding that favorable conditions will lead to a faster expansion.

CM Jardine Restaurant Group is a joint venture between Jardine Restaurant Group Myanmar and City Mart Holding, owner of the Pizza Hut franchise in Myanmar.

Jardine Restaurant Group operates more than 680 Pizza Hut and Kentucky Fried Chicken restaurants across Vietnam, Taiwan, Hong Kong and Macao.

Daw Win Win Tint, CEO of City Mart said he is excited to “bring the Pizza Hut experience the people of Myanmar”.

The first restaurant was a mix of local and international staff, but the proportion of local employees will grow over time, said Henry Yip, CEO of Jardine Restaurant Group.

“Ninety-seven percent of our workforce is local and most of our ingredients are locally sourced,” he said. “We also invest heavily in training and professional development to ensure global best practices.”

While the flavor of the food will be recognizable to international guests, Pizza Hut uses a test kitchen to study the preferences of Myanmar, said Simon Arnold, CEO of Pizza Hut Myanmar.

“We studied the favorite flavors local customers and adapt our recipes accordingly,” he said. costs K11,000 a normal pizza and pasta is K4000.

The company declined to provide figures on the value of the investment.

While Jardine Restaurant Group also represents KFC in other parts of Asia, it has failed to obtain the franchise in Myanmar.

KFC in association with Serge Pun-chaired Yoma strategic holdings.

Yum is based in Kentucky and has more than 41,000 restaurants in more than 125 countries and territories. It was formed as a spin-off from PepsiCo in 1997 and a turnover of more than $ 13 billion now.

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Travelers and Night Market Food in Yangon

A night market is to be set up in Mahabandoola Park street in a bid to promote small vendors of food and restaurants in Yangon and attract foreign tourists.

Yangon regional government has agreed to our proposal for a night market in Mahabandoola Park street. It aims to provide hygienic and healthy food to locals and foreigners and also help basic food vendors who sell at night.

“Foreigners can have Myanmar foods, buy souvenirs or sit and read books there. It will contribute to the tourism industry,” he said.

A total of 14 small restaurants, two each from the seven downtown townships, will be selected on the criteria set by Myanmar Restaurants Owners’ Association (MWRA) from the pool of restaurants that benefit from the association’s help.

“Those that have discipline, can meet quality requirements and satisfy the customers will be approved to run stalls at the night market. We have studied the factors contributing to the success of night markets in other countries,” U Kyaw Myat Moe, general secretary of MWRA said.

Currently, MWRA is working on helping small restaurants and will select 14 based on the folowing criteria: how much they understand the goals of the association and are willing to cooperate with it, whether they are doing business in places allowed by the City Development Committee, if they are popular choices of the diners, and if they meet hygiene standards and are willing to undergo inspections.

“Many current food stalls have low hygiene practices and unattractive settings, so a well organised night market can change that. The food doesn’t have to be cheap and as long as the food and the packing are clean and of good quality it will work,” said Daw Ohnmar Oo, sales director of Golden Orbit Travel and Tours company.

“The stalls that don’t follow rules should be penalised and will be shut down,” she added.

“Neighboring countries also have night markets. Thailand in particular boasts a two-mile long night market in Chiang Mai. The market, which is open from 6pm to 2am, does not litter the place leaving it clean after it is closed in the morning,” she said, adding that if such practice is applied here, the night market will be a success.

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Yangon based Food and Restaurants Directory Startups in Myanmar

A group of talented young people in Myanmar starting-up Web and Mobile App called MyLann, Food and Restaurants Directory in Yangon and some of major city in Myanmar. Now, they are focus on maximize only in Yangon. The company located in 50th Street, Pazun-Taung TownShip in Yangon. They are now over 1 year old company and created the very first Web based and Mobile based Search Engine for Food and Restaurants in Yangon, Myanmar.

MyLann’s Team said “we discovered that there aren’t still any Web and Mobile based food and  restaurants directory in Yangon, so finding restaurants reviews, food guide, where to eat in yangon and a new place to eat particularly for foreigners and tourists in Yangon is not easy”.