Sunday, August 20, 2017

Myanmar-made electrics exported to Japan for first time

Asia General Electric Holding has become the first local electric company to export products to Japan, initially sending parts for air conditioning units, according to a company spokesperson.

AGE, which has an agreement with Mitsubishi Electric, exported the products to Japan’s Yabushita Company, becoming the first majority Myanmar-owned business to make such a trade, said commercial manager U Chit Moe.

“Switchgear panels and transformers are in the process of being exported to Japan, as a first step,” he said.

Last year, AGE’s parent company Asia General Holdings signed a technical licence agreement with Mitsubishi for design and supervisory technical support, to produce 230 kilovolt transformers.

U Chit Moe said the company is now preparing to export to the ASEAN market.

“Not many companies produce power transformers locally,” he said. “There are around five big companies, including Soe Electric and Yangon Transformer.”

AGE can now produce 600 distribution transformers per month, up from around 100 a month when the factory opened in 2009.

“The economy is opening up and government power distribution channels are improving, so the market has huge potential,” he said.

Local companies will need to become more competitive both on quality and price, he added, noting that as foreign investors enter the market, customers will increasingly rely on quality products.