Myanmar Digest: Karen, IDPM $350K fundraise; Global Tech rolls out new service

Photo: Juliet Shwe Gaung. Myanmar Currency.

Singapore registered Karen Enterprises and Integrative Design & Project Management (IDPM) have raised $350,000 for the survey and master planning work of Mu Aye Pu city project. Meanwhile, in the technology space, Myanmar’s Global Technology Group has introduced its International Gateway Services and Global Innovations Media to serve the entertainment industry.

Karen, IDPM raise $350K for Mu Aye Pu project

Singapore-registered Karen Enterprises and Integrative Design & Project Management (IDPM) have raised $350,000 for the survey and master planning work of Mu Aye Pu city project to be located in Karen State near the Thai border.

The survey work will be an initial take off for transforming the Mu Aye Pu village in the Karen State of Myanmar into a city.

The investment was from “existing professional network in the Free & Startup Cities movement and a couple of sophisticated investors overseas,” said Nigel Grier, development director at the Mu Aye Pu Development Corporation and co-founder of Karen Enterprises.

The survey and master planning is expected to be completed by June 2017. Following the initial planning work, the project scope will cover basic infrastructure including power generation and renewable energy setups.

Other plans for the new city include hospitality and tourism related activities. In the second phase of development, Karen Enterprises and IDPM are looking to raise $100 million via initial coin offering. For its hospitality school, Karen Enterprise is looking to raise up to $650,000 out of which they have already got commitments of up to $130,000.

Global Technology rolls out International Gateway services

Global Technology Group, a leading telecommunications service provider in Myanmar, has introduced International Gateway (IGW) services in December to introduce secured cross-border connectivity for Myanmar enterprises.

Global Technology is also partnering with Cisco Systems Inc. for the development of the infrastructure.

“This is the first time that licences for IGW services have been awarded to the private sector. We are currently waiting for a final check and approval from the regulator, PTD (Posts and Telecommunications Department) to go into commercial launch soon,” said Thein Than Toe, CEO of Global Technology Group.

“The IGW services will be key to the development of Myanmar digital economy and (as a result) internet price in Myanmar will drop dramatically,” said Shane Thu Aung, chairman & co-founder of Global Technology Group.

Also Read:

Myanmar: Karen Enterprises, IDPM aim to raise $100m via ICO for city development

Karen Enterprises raising up to $650k for hospitality school, hotels in Myanmar

Myanmar Technology, Malaysia’s Numix JV to invest $2.5m in broadband services

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.