This story is written by Jerome LEK Guan Hong, 2016 Intake, SMU School of Information Systems
As part of the SIS ACE programme, eleven of us from SIS embarked on an enriching learning journey to Yangon, Myanmar from 11 to 16 December 2017 to discover its unique business environment and experience the rich Burmese culture. It was our first time visiting Myanmar and we had no idea what to expect!
During our trip, we first visited nexlabs, an Internet start-up with a vision of transforming Myanmar’s businesses digitally. We were shocked at first when the bus brought us to an apartment building, but as we later found out, many start-ups in Myanmar operate huge offices in such condominiums! nexlabs started us off with an informative session about the booming mobile landscape in Myanmar, sharing with us how a mobile SIM card in Myanmar used to cost up to US$3,000, as compared to only US$2 today. They believe that this evolution of the cellular landscape has been the catalyst for numerous start-up opportunities in Myanmar.
Group photo taken with a traditional trishaw at the entrance of nexlab’s office
Next, we visited City Mart Holdings, the market leader in retail and groceries in Myanmar. We had a peculiar incident at the supermarket just the day before, when the cashier did not have 50 kyats (S$0.05) change, and instead gave us a packet of gum. This incident raised many questions for us, but we were told that this practice is commonplace in supermarkets, and is one of the problems that the company is looking to solve. It was interesting to learn about how consumers in Myanmar prefer to pay with cash to avoid card processing fees, and the issues companies face as a result. We had an impromptu brainstorming session, and shared ideas such as the use of e-wallets to improve the situation. It was an engaging visit which allowed us to learn much about consumer behaviour in Myanmar.
We also visited start-ups founded by SMU alumni, such as CarsDB and Vanguard Solutions. The alumni shared their entrepreneurship journeys with us, and how they came to form their companies. It was interesting to hear their thoughts and views on starting a business in Myanmar, as well as tips for how to start our own business. As CarsDB’s team shared, the biggest problem starting out as an online platform was getting the initial classified listings. They had to ask friends and family members to sell their cars on the platform to get the ball rolling. Only after a few months did they start gaining traction, as more buyers and sellers were attracted to their user-friendly platform. Even when deep-pocketed competitors entered the market, they were still able to grow. They believe that their understanding of the local market is what gives them their competitive advantage - a useful tip for those looking to start their own company.
A highlight of this trip for me was when we had dinner with our seniors from the SMU Myanmar Alumni Chapter as we chatted about school life, the changes and happenings in SMU, as well as life after graduation. It was heart-warming to see that they returned to Myanmar with innovative business ideas to improve the well-being of those around them. They also shared many childhood memories of growing up in Myanmar with us, translated our names into the Burmese alphabet, as well as found out our Burmese zodiac signs according to the day we were born. I am glad to see the strong alumni presence in Myanmar, and how our seniors remain close friends several years after graduation, enjoying their next phase in life together.
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On the final day, we were hosted by a group of friendly Computer Science students at Yangon University. We shared our learning experiences in SIS, and discovered the similarities and differences in our respective schools. We toured their campus and learnt their beliefs and practices, such as how they would not paint the school hall building as they believe painting it would lead to a revolution. They also taught us how to make and apply thanaka, a cosmetic paste commonly used by the locals. We were also dressed for the occasion as we put on traditional longyis for the day!
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Aside from the company visits, we were also able to do some sightseeing as we visited landmarks such as the Bogyoke Market for some shopping, and the Shwedagon Pagoda. At the latter, we performed the Bathing of the Buddha ritual, which is believed to purify the mind and body.
It was a very fulfilling trip as we learnt a lot about the culture in Yangon, tried various exotic foods like crickets and goat testicles, as well as discovered the numerous business opportunities in Myanmar as the smartphone population grows. Having gained deeper knowledge about the country and its business practices during this trip, I’m sure that all of us returned home having learned a lot from this beyond-the-classroom experience!
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