May 10, 2011

White Tiger party will import goods from Malaysia

The Shan Nationalities Democratic Party (SNDP; aka White Tiger Party) Treasurer Saw Than Myint says that the party plans to set up an import-export business and will import goods from Malaysia in late May.

Leaders of the Shan Nationals Democratic Party met this year in Monghsat Township in Shan State. The party has announced that it will organize an import-export business to finance party activities. 'We will receive the goods in late May’, he said. ‘I think our company will have been officially registered by that time’.

The company’s board of directors comprises the party’s central executive members and businessmen. Members of the board will go to Naypyitaw this week to register the business, according to Saw Than Myint.

In accordance with chapter IV of the Burmese political party registration law, political parties can operate businesses to finance their activities. The company’s board of directors will also make business decisions, according to Saw Than Myint.

Last year in December during a party conference in Taunggyi in Shan State, officials told Mizzima that the company would invest in a wide range of businesses including agriculture, mining and timber.

After registering the company, a total of 1 million shares will be sold at a price of 10,000 kyat (US $ 12) share. A shareholder can own a maximum of 10,000 shares. Seventy-five per cent of the profit will be redistributed annually to shareholders and the remaining 25 per cent will going into a party fund, officials said.

Recently, the Group of Democratic Party Friends, an alliance of 10 political parties including the White Tiger Party, asked the European Union to renew Burma’s Generalized System of Preferences status, which would eliminate or reduce tariffs.

The SNDP focuses on Shan State and claims more than 100,000 members across Burma.

Source: Mizzima