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EDL-Gen Decides No Dividend Payout for First Six Months of 2019

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Laotian Times
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EDL-Gen Decides No Dividend Payout for First Six Months of 2019

The board of directors of EDL Generation Public Company (EDL-Gen) has decided no dividend payout after the firm reported a loss of LAK 147.15 billion (USD 16.7 million) over the first six months of 2019.

Such a decision shall be proposed to the annual general shareholders’ meeting for the year 2019 for further consideration, the company said in public disclosure.

The total net profits of EDL-Gen for the first semi-annual 2019 came from two main sources, according to EDL-Gen.

Profit from the business operation of EDL-Gen faced a loss of LAK 328.473 million (USD 37,425,) while that from the share of associates and joint ventures amounted to LAK 181.328 million, which makes the total net profits of a loss LAK 147.145 million.

Vientiane Times quoted EDL-Gen as saying that the loss was indicated in kip because of the unfavorable exchange rate of the currency against the Thai baht and US dollar.

“Although EDL-Gen made a profit from the sale of electricity in Laos and to other countries and has cash reserves, most of the company’s debts, in the form of loan repayments, are serviced in baht and dollars,” the paper explained.

In the first semi-annual 2019, the total revenue of EDL-Generation mainly came from selling electricity to EDL, and its total revenue was LAK 762.584 million (USD 86,681,) including revenue from electricity sale totally LAK 741.997 million.

Miss Hmong Laos Contest to Be Held in December

By
Laotian Times
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Miss Hmong Laos Contest to Be Held in December

Contestants are flocking to enter the fourth annual Miss Hmong Laos contest, which will be held in December this year.

The Miss Hmong Laos contest includes various performances to demonstrate the identity and culture of the Hmong ethnic group, in order to spotlight their cultural heritage in Laos and on the international stage.

Director of Lao Trading and Mineral Processing Co. Ltd, and president of the Miss Hmong Laos Contest, Mr. Thongvilay Lidthideth, says that the purpose of the Miss Hmong Laos contest is to provide an opportunity for Hmong youth to participate in positive activities.

“Furthermore, it is also a way for talented young Hmong people to demonstrate their abilities,” says Mr. Thongvilay.

The contest has developed over the years, and 2020 will see a much larger event than previous years.

Applications remain open to all Lao Hmong around the country from 24 November 2019, with the final contest to run from 27 December 2019 to 5 January 2020.

Laos to Offer Free Wi-Fi at Landmarks in Vientiane

By
Laotian Times
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Laos to Offer Free Wi-Fi at Landmarks in Vientiane

Laos has launched a project to offer free Wi-Fi at landmarks in its capital Vientiane in a move to cater to not only the general public but also foreign visitors.

The project, supported by the Asia-Pacific Telecommunity (APT,) will enable visitors to use the internet at frequently visited locations such as Wattay International Airport, Namphou Fountain, and Hor Phrakeo, said Deputy Minister of Post and Telecommunications, Bounsaleumxay Khennavong, as quoted by Vientiane Times.

APT was founded in 1979 on the joint initiative of the United Nations Economic and Social Commission for Asia, and the Pacific and the International Telecommunication Union.

APT serves as an organization for information and communications technology (ICT) in the region. Laos became a member in 1989.

The free wi-fi project is a part of Laos’s efforts to be in line with the current digital trend and a desire to promote wider access to information.

In Laos, cell phones account for 94 percent of the entire phone network and the mobile internet network reaches 78 percent of all villages, while Internet users make up nearly 40 percent of the population, Mr Bounsaleumxay said.

In particular, the country sees strong growth in social media use, especially Facebook, YouTube, WhatsApp, and WeChat. Among online social media users, 28-38 percent are young people aged 16-24, he added.

wi-fi sometimes!
Wi-Fi (sometimes) at the 4,000 islands

Laos attracted more than 4.1 million foreign tourists last year, an 8.2 percent increase from the previous year. Tourism generated revenue of more than USD 755 million in 2018.

Meanwhile, it is expected that at least 4.5 million people will visit Laos this year, generating revenue of more than USD 700 million.

Floods Continue to Devastate Southern Laos

By
Laotian Times
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Floods Continue to Devastate Southern Laos

Several southern provinces in Laos have been hit by severe floods after two consecutive tropical storms lashed the region earlier this week.

Lao media is awash with photos, videos, and live streams of affected people, as residents are being evacuated from their homes by boat.

Here are updates from the affected provinces:

Attapeu:
Water levels continue to rise in Attapeu, although rains are weakening. Samakhy District has seen eighteen villages affected by flooding, and Sanamxay District, site of the 2018 dam collapse, has been completely inundated.

A road marker in Sanamxay Disrict, Attapeu
A road marker in Sanamxay District, Attapeu
Villager being evacuated in Attapeu
Villager being evacuated in Attapeu

Champasack:
Champasack Province has been hit by torrential rains and has been heavily flooded. The city of Pakse has been completely inundated, and the river has burst its banks in several parts of the city. 14 villages in Patoumphone District have been severely flooded.

Champasack Hospital Completely Inundated
Champasack provincial hospital completely inundated
Champasack Stadium Filled With Water
Champasack Stadium filled with water
Soldiers assist in the evacuation of villagers
Soldiers assist in the evacuation of villagers
River bursts its banks in Pakse
River bursts its banks in Pakse

Salavanh:

The situation in Salavanh is improving, with floodwaters beginning to recede.

Soldiers assist in the evacuation of villagers in Salavanh
Soldiers assist in the evacuation of villagers in Salavanh

Xekong:

The severity of the situation in Xekong remains unclear, however Dakcheung District has been affected the most, with major road damage and residents unable to access clean drinking water. In accordance with reports by the provincial department of education and sports, all schools have been closed until further notice.

A flooded road way in Sekong Province
A flooded roadway in Sekong Province

Savannakhet:

According to reports by rescuers, Sepon district has been worst affected by floods, with over 100 homes completely inundated. Families have been evacuated as waters rise.

A man carries wife through floodwaters in basket
A man carries wife through floodwaters in a basket

Khammouane:

Official information on the situation in Khammouane has been slow to arrive, however reports stat that many villages in various districts have been affected by the floods.

A temple underwater in Khammouane Province
A temple underwater in Khammouane Province

Photos: Tholakhong

Cambodian FM to Visit Laos, Solve Border Dispute

By
Laotian Times
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Cambodian FM to Visit Laos, Solve Border Dispute

Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn is visiting Laos from 5-6 September in a working visit to resolve the border dispute.

Lao Minister of Foreign Affairs Saleumxay Kommasith will receive his Cambodian counterpart.

His two-day visit is aimed at “strengthening and expanding the scope and depth of bilateral cooperation, including the border issue as well as cooperation within regional and international areas of shared interest,” said a statement from the Ministry of Foreign Affairs.

Laos and Cambodia withdrew troops on August 29 from the countries’ shared northern border as tensions eased,  but where border demarcation has not yet been implemented.

Lao and Cambodian troops at the border
Lao and Cambodian troops at the border

The decision was made at a meeting between the Lao and Cambodian militaries on August 27 at the Donkhamao traditional border in Khong District, Champasack Province.

The tension between the two countries began to simmer on August 11 when Lao and Cambodian troops confronted each other in an area along the border.

The situation was quickly stabilized, however, after leaders from the two nations spoke with each other on August 24.

Laos to Develop Gold Mine in Xaysomboun

By
Laotian Times
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Laos to Develop Gold Mine in Xaysomboun (mining)

Laos, home to one of the largest gold mines in the world, is set to see a new gold mine operation commence in Xaysomboun Province, with a feasibility study and exploration already underway.

The new gold mine project involves the development of infrastructure and other facilities at a 234.6 square kilometer site at Naty Village area in Longchaeng District, Xaysomboun Province, as well as the analysis on technical and economic aspects of the project.

Led by Jo Bounmy Mining Development of Jo Bounmy Group and the Ministry of National Defense, the project will also encourage local people to engage in commercial agriculture to boost their incomes and provide them with job opportunities, Vientiane Times reported.

The two parties have worked together since 2017 to facilitate the project, cooperating in study and research.

As of 2009, reserves of gold in Laos were assessed at about 500 to 600 tons, according to the Institute of Developing Economies.

Laos is home to the Sepon mine, which is considered one of the biggest gold mines in the world.

The mine is located in Savannakhet Province, southern Laos, and commenced its operations in 2005.

It yielded its first gold in December 2002. In early 2005, an expansion of the original gold processing facility was completed, doubling the capacity of the gold processing plant to 2.5 million tons of ore per annum.

However, the operator of the mine, MMG, ceased gold operations in December 2013 due to the depletion of ore reserves and lower margins. The mine currently focuses on copper production.

Severe Floods Hit Southern Laos, Salavanh in Need of Urgent Assistance

By
Laotian Times
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Severe Floods Hit Southern Laos, Salavanh in Need of Urgent Assistance

The southern region of Laos been devastated by severe floods after two consecutive tropical storms hit the region.

Affected areas include Champasack, Salavanh, Sekong, Attapeu, and Savannakhet provinces. Residents of these regions are have been completely devastated and are desperately trying to defend their homes, livestock, and crops.

Severe Floods hit Southern Laos

Flooding in Salavanh Province has inundated 75 of the 124 villages in the province.  41 villages have lost contact with authorities and are completely out of reach.

Severe Floods hit Southern Laos
Severe Floods hit Southern Laos

The province is now in urgent need of assistance from the local, national and international community; especially with regard to food, clean water, clothing, and boats or flotation devices to assist in the evacuation of residents trapped in flooded homes.

Salavanh province is currently seeking donations, which can be made by contacting Teung Jommany, Governor of Salavanh, at 020 55556737 or Dr. Phannavanh, Chief of Cabinet Office, at 020 98726601.

Severe Floods hit Southern Laos
Severe Floods hit Southern Laos
Severe Floods hit Southern Laos

The northern provinces of Laos were hit by floods and landslides in late July, with villages in Nan District, Luang Prabang heavily flooded after the Nan River burst its banks.

Flash floods and landslides swept away at least seven people in Houaphanh Province in the wake of Tropical Storm Wipha.

Meanwhile, South Korean President Moon is due to arrive in Laos tomorrow for a landmark two-day visit, and it is anticipated that he may pledge some assistance.

South Korean President to Visit Laos, Seeks Further Cooperation

By
Laotian Times
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South Korean President to Visit Laos, Seeks Further Cooperation

South Korean President Moon Jae-in is to visit Laos between September 5 and 6 in a move that would further facilitate the country’s new policy designed to deepen ties with Southeast Asia.


President Moon is expected to meet the Lao President Bounnhang Vorachith and Prime Minister Thongloun Sisoulith during his visit.

Among the main issues to be discussed are partnerships in hydroelectric power and Seoul’s efforts to improve the living of Lao people.

Laos will be his last destination after his visit to Thailand and Myanmar, where he spent three days each with country leaders.

South Korea has endeavored hard to push for a new policy dubbed “New Southern Policy,” which is designed to improve its ties with the Association of Southeast Asian Nations (ASEAN) and to broaden Seoul’s diplomatic base.

South Korea’s need to shift its focus toward increasing ties with ASEAN comes has been highlighted more significantly in recent years.

The South has been gradually under pressure to pick a side as the United States pursues the Indo-Pacific strategy, while China pushes for its own One Belt One Road Initiative.

The latest trade war between the US and China also took a toll on South Korea’s export-driven economy. The US and China are Seoul’s two major trading partners, accounting for 39 percent of its exports in 2018.

The South expects to use the new policy as a diplomatic tool to expand its space for diplomatic maneuvering and mitigate the impact on its economy and diplomacy resulted from intensifying conflicts between the US and China.

The ASEAN bloc is South Korea’s second-largest trading partner, with the two-way trade volume totaling USD 149.1 billion in 2017. The South plans to further increase two-way volume to USD 200 billion and the number of visitors to 15 million by 2020.

Seoul has also increased cooperation with ASEAN nations in the military sector. South Korea and ASEAN countries held vice-ministerial talks to discuss defense cooperation on the sidelines of the Seoul Defense Dialogue in September last year, for instance.

By Taejun Kang

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