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Interested bidders are invited to conduct a preliminary survey of four new hydropower projects in the Tanintharyi River Basin

The Ministry of Power and Energy has invited companies interested in conducting tenders for four new hydropower projects in the Tanintharyi River Basin to conduct feasibility studies. Hydropower Implementation Department; The tender form and details for the feasibility study for four new hydropower projects in the Tanintharyi River Basin will be available from 14 to 28 January 2022 at Office No. 27; It will be sold at the front gate. Tender bids must be submitted by May 16, 2022. The tender acceptance and scrutiny committee has announced that the tender must be submitted to the meeting hall (Office No. 27, Three Storey Building, New Office, Nay Pyi Taw) and the tender advertisement form can be accessed on the website of the Ministry of Electricity and Energy.

In the 2019-2020 fiscal year, 3,225 megawatts will be generated from hydropower, depending on the energy source. 2773 MW from natural gas; 40 megawatts of solar power; According to the Ministry of Power and Energy, LNG has generated 900 megawatts and coal from 120 megawatts for a total of 7,058 megawatts. Hydropower accounts for 46% of total electricity generation; 39% from natural gas; 13% from LNG; One percent is made from solar and two percent from coal. 3181 MW from hydropower in 2015-2016 fiscal year; 1752 MW from natural gas; Coal generates 120 megawatts for a total of 5,053 megawatts. 63% from hydropower; 35% from natural gas and 2% from coal.

In the 2018-2019 fiscal year, 11,227.82 million kilowatt-hours of hydropower generation will be generated. 9366.56 million kilowatt hours from natural gas; 2,169.70 million kilowatt hours from steam; Diesel generates 104.73 million kilowatt hours. In the fiscal year 2017-2018, 12,265.03 million kilowatt hours from hydropower; 7,459.22 million kilowatt-hours from natural gas; 1,080.60 million kilowatt hours from steam; Diesel generates 77.55 million kilowatt hours. In the 2016-2017 financial year, 12,265.03 million kilowatt hours from hydropower; 7,459.22 million kilowatt-hours from natural gas; 1,080.60 million kilowatt hours from steam; Diesel generates 77.55 million kilowatt hours.

The annual capacity of the Ministry of Electricity and Energy was 15965 million units in the 2015-2016 fiscal year. 17867 million units in the 2016-2017 financial year; In the fiscal year 2017-2018, million units 200555; Production increased to 22,879 million units in the 2018-2018 fiscal year and 27,300 million units in the 2019-2020 fiscal year. If we look at the per capita electricity consumption increase year by year, in the 2015-2016 financial year, 263 kWh; 301 kWh in the 2016-2017 financial year; 335 kilowatt hours in the 2017-2018 fiscal year; In the 2018-2019 fiscal year, it was 379 kilowatt hours and in the 2019-2020 fiscal year, it increased to 432 kilowatt hours, and in five years it increased to 169 kilowatt hours.

Source: Daily Eleven

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Myanmar Central Bank sells nearly $444 mln in Feb-Dec period

The Central Bank of Myanmar (CBM) sold US$443.8 million at its FX auction rate to the authorized dealers in the past 11 months (February-December) 2021, according to the auction results released by the CBM. Consequently, the exchange rate was pegged at around K1,700-1,800 in December-end, according to the CBM. In a bid to strengthen the
local currency and govern the market volatility, the CBM reportedly sold about 6.8 million dollars on 3 February 2021, $12 million in April, $24 million in May, $12 million in June, $39 million in July, $28 million in August, $63 million
in September, $110 million in October, $31 million in November and $118 million in December in the auction market.

The CBM trades the foreign currency with the authorized private banks under the rules and regulations of the FX auction market. The currency intervention is required to steer the own currency value. It is one of the responsibilities of the CBM to control the price. This is why the CBM practised the foreign exchange intervention. Additionally, the use of Yuan or Kyat in the bilateral transaction is officially allowed in the border areas between Myanmar and China in a bid to encourage the trade, according to the notification released by the Central Bank of Myanmar on 14 December, in the exercise of the power conferred by Sections 17 and 22 of the Foreign Exchange Management Law.

This move is aiming to boost the bilateral cross-border trade, facilitate the trading and bilateral transaction and increase the use of domestic currency in line with the objectives of ASEAN Financial Integration. The local forex market’s data showed that the dollar exchange rate touched the maximum of K1,345 and the minimum of K1,327 in January 2021. The rate moved in the range of K1,335-1,465 in February. It reached the lowest of K1,420 and the highest of K1,550 in March. The rate fluctuated between K1,550 and K1,610 in April. The rate fluctuated between K1,585 and K1,730 in May and it moved to the maximum of K1,595-1,620 last month.

The local forex market’s data showed that the dollar exchange rate touched the maximum of K1,345 and the minimum of K1,327 in January 2021. The rate moved in the range of K1,335-1,465 in February. It reached the lowest of K1,420 and the highest of K1,550 in March. The rate fluctuated between K1,550 and K1,610 in April. The rate fluctuated between K1,585 and K1,730 in May and it moved to the maximum of K1,595-1,620 in June. The rate stood at K1,626-1,670 in July. It hit the lowest of K1,660 and the highest of K1,682 in August. The rate edged up to K3,200 and fell to K1,696 in September. In October, it stayed between K2,430 and K1,830. The rate was pegged around K1,700-1,800 in November and December.

Source: The Global New Light of Myanmar

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Telenor to sell 51% stake in Wave Money to Thein Wai’s Yoma, Nikki Asian stated

According to Nikki Asian, Telenor will sell 51% of Wave Money to Thein Wai’s Yoma Company. In Wave Money, Telenor owns 51% and Yoma Strategic Holdings holds 49%. According to Nikki Asian, Telenor has received $ 53 million worth of shares for sale, valued at $ 104 million, which is higher than the $ 105 million it earned when it sold the telecommunications business. “Wave is a good business and Yoma needs to buy it. They (Telenor) have no choice if they do not want the shares to be owned by another business. 

It is in line with Yoma Bank’s efforts to develop the retail sector and the growth of digital financial services, ”a market expert quoted Nikki Asian as saying. If the final acquisition is successful, Yoma will own up to 75 per cent of the money in the future, with the remaining 25 per cent likely to be owned by private investors at the Yoma-led company, according to the report. Following the political upheaval in Myanmar, Telenor plans to sell its telecommunications business in Myanmar to the M1 Group, which is owned by a Lebanese millionaire. 

However, the Burmese government has not yet given permission. As a result, it is planning to sell its stake in Wave Money while waiting for approval, the report said. The transfer is scheduled to take place in the middle of this year, but neither company has been able to confirm the news, according to Nikki Asian. Nikki Asian has announced that Wave Money has been separate from Telenor since it planned to sell its telecommunications business to the M1 Group. Wave Money will provide regular services to millions of customers. Wave Money said in a statement in July 2021 that the business was operating normally and that commitments to Myanmar would remain strong.

Source: Daily Eleven

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About 40 trucks of Myanmar products exported daily to China through Kyinsankyawt trade post

About 40 trucks of Myanmar products are being exported to China through Kyinsankyawt checkpoint at the Muse border trade, said U Min Thein, vicechair of the Muse Rice Wholesale Centre. Earlier, the export truck of Myanmar products to China was roughly about 400 trucks per day. “This Kyinsankyawt is a checkpoint that used to be able to cross about 300 or 400 truckloads of goods. But now, only 30 or 40 trucks are passed through the crossing,” U Min Thein clarified. China shut down all the border crossings with Myanmar in the wake of COVID-19 negative consequences.

Of the land borders, Kyinsankyawt has been reopened on a trial run from 26 November. Thus, it has to be done step by step with many restrictions during the pandemic period. Besides the trucks carrying goods are being stuck in the one checkpoint. Currently, rice and broken rice, rubber, various types of peas, dried plums, watermelon, melons and other foodstuffs are exported to China through land borders. The Muse border, which is the mainstay of Myanmar-China border trade, is connected with Nandawphyu, Hsinphyu, Mang Wein, Kyinsankyawt-Wang Ding and Pansai-Wamting borders.

At present, Myanmar carries out border trade with China mainly through Muse, Lwejel, Chinshwehaw, Kampaiti and Kengtung border checkpoints. Of these, Muse border trade points stood the largest trade zone. Nevertheless, checkpoints from the Muse border trade zone were closed for over four months in 2021 due to COVID-19. As a result of the complete closure of the Myanmar-China border, about 5,000 labourers from Myanmar are now unemployed. Now, about 50 or 60 buses operating between Muse and China are facing losses. Likewise, the merchants in Muse, who are trading with China are facing the loss as well. In the 2019-20FY, the value of border trade through the Muse border zone totalled $4,057.724 million, according to the official statistics of the Trade Department under the Ministry of Commerce.

Source: The Global New Light of Myanmar