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  • A N N U A L R E P O R T 2 0 1 8 - 2 0 1 9

    investing in Myanmar Y o u r b l u e p r i n t f o r

  • YOUR BLUEPRINT FOR INVESTING IN MYANMAR

    FMI is proud to present its Annual Report for FY2019. During the past 27 years, FMI has given investors unparalleled access to Myanmar’s Financial Services, Real Estate, Healthcare and Tourism industries. This year’s Annual Report celebrates our legacy as Myanmar's leading blue-chip company by offering a blueprint for investment in the country.

  • GOVERNANCE & SUSTAINABILITY Corporate Governance Report 54 Sustainability Report 66

    FINANCIAL REPORT

    Report of the Directors 81 Statement of the Directors 83 Independent Auditor’s Report 84 Notes to Consolidated Financial Statements 92

    PERFORMANCE REVIEW

    FY2019 Group's Financial Highlights 26 Operational & Financial Review 27 FMI’s Key Businesses 30 Financial Services 32 Healthcare 36 Real Estate 40 Tourism 44 Strategic Investments 50

    CORPORATE OVERVIEW

    Corporate Profile 4 Our Vision 4 Our Mission 5 Chairman’s Message 6 FY2019 Key Achievements & Highlights 12 Board of Directors 14 Management Team 20

    CONTENTS

  • BUILD A BETTER MYANMAR FOR ITS PEOPLE

    2 | FIRST MYANMAR INVESTMENT PUBLIC CO., LTD.

  • I always take pride in being a part of the Yoma Group, which contributes towards bringing Myanmar and the financial sector forward, and continuously has its clients’ best interests in mind."

    At Pun Hlaing Siloam Hospitals, I'm privileged and proud to be a part of the Yoma Group which has an ethos to drive incremental steps in patient safety and quality that is consistent with international benchmarks and putting care back into healthcare in our country.

    Being a part of the Yoma Group has been a privilege for me. It is tremendously satisfying to be able to build a career based upon the greater good of transforming Myanmar for the better.

    I am so proud to be a part of Memories Group under the YOMA Group, having the chance not only to march towards its responsible visions and its ethical business model but also to build up a better Myanmar.

    ျမန္မာနိုုင္ငံရဲ႕ဘ႑ာေရးက႑တိုုးတက္မႈမွာ အဓိကထားေဆာင္႐ြက္ေနၿပီး သံုုးစြဲသူျပည္သူမ်ား အေကာင္းဆုံး အက်ဳိးျဖစ္ထြန္းေစဖုိ႔ အၿမဲစိတ္ထဲမွာထည့္ထားတဲ့ ႐ိုုးမအုုပ္စုု၏ အစိတ္အပိုုင္းတစ္ခုုအေနျဖင့္ ပါဝင္ခြင့္ရသည့္အ တြက္ မ်ားစြာဂုုဏ္ယူမိပါတယ္။

    ႐ိုုးမအုုပ္စုုရဲ႕ မ႑ိဳင္တစ္ခုုျဖစ္တဲ့ ပန္းလိႈင္စီလုုံေဆး႐ံုု က်န္းမာေရးေစာင့္ေ႐ွာက္မႈက႑တြင္ ႏုိင္ငံတကာအသိ အမွတ္ျပဳ စံနႈန္းစံထားမ်ား႐ွိတဲ့ လူနာမ်ားေဘးကင္းလုံၿခဳံေစေရး အရည္အေသြးမ်ား တိုုးတက္ျမင့္မားလာေအာင္ တစ္ဆင့္ျခင္းႀကိဳးစားေနမႈမွာ ပါဝင္လုုပ္ကိုုင္ခြင့္ရသည့္အတြက္ ကၽြန္မအေနနဲ႔ ဂုဏ္ယူ၀မ္းေျမာက္မိပါတယ္။

    ႐ုိးမကုုမၸဏီအုုပ္စုုမွာ အလုုပ္လုုပ္ခြင့္ရ႐ွိျခင္းဟာ ကၽြန္မအတြက္ အထူးအခြင့္အေရးတစ္ရပ္ ျဖစ္လာခဲ့ပါတယ္။ ျမန္ မာျပည္သူမ်ားအတြက္ ပုိမုိေကာင္းမြန္ေသာ ေျပာင္းလဲမႈတည္ေဆာက္ရန္ဟူေသာ ရည္မွန္းခ်က္တြင္ အေျခခံ သည့္ ကုုမၸဏီတစ္ခုုမွာ လုုပ္ကုုိင္ခြင့္ရ႐ွိရသည့္အတြက္ စိတ္ေက်နပ္ႏွစ္သိမ့္မႈမ်ားစြာ ျဖစ္ေပၚေစပါတယ္။

    ႐ိုုးမကုမၸဏီအုုပ္စုုဝင္ Memories Group က လူမႈအဖြဲ႕အစည္းအေပၚ တာဝန္ယူမႈ႐ွိတဲ့ ရည္မွန္းခ်က္မ်ားထား႐ွိၿပီး ကိုုယ္က်င့္တရားႏွင့္ကိုုက္ညီမႈ႐ွိတဲ့ စီးပြားေရးအေလ့အထမ်ား႐ွိသည့္အျပင္ ျမန္မာနုုိင္ငံတည္ေဆာက္ေရး ႀကိဳးပမ္းေနတဲ့က႑မွာ ကၽြန္ေတာ္ ပါဝင္လုုပ္ကိုုင္ခြင့္ရ႐ွိတဲ့အတြက္ မ်ားစြာဂုုဏ္ယူမိပါတယ္။

    ZARNI TUN DEPUTY HEAD OF CORPORATE SALES

    YOMA BANK

    ZAW WIN SANDY DIRECTOR OF HOSPITAL OPERATIONS

    PUN HLAING SILOAM HOSPITALS

    MIKI ZAW DEPUTY HEAD OF MARKETING

    YOMA LAND

    TUN THURA GENERAL MANAGER OF BALLOONS OVER BAGAN & INLE

    MEMORIES GROUP

    ANNUAL REPORT 2018-2019 | 3

  • 4 | FIRST MYANMAR INVESTMENT PUBLIC CO., LTD.

    CORPORATE OVERVIEW

    OUR VISION

    INVESTOR SATISFACTION

    We create sustainable investment opportunities by leading with integrity and robust business practices.

    ရင္းႏီွးျမႇဳပ္ႏံွသူမ်ား၏ ေက်နပ္ႏွစ္သက္မႈ

    ကၽြႏု္ပ္တို႔သည္ သမာဓိ႐ိွျခင္း၊ ကိုယ္က်င့္တရားႏွင့္ ျပည့္စံုမွ်တသည့္ စီးပြားေရးလုပ္ငန္းစဥ္မ်ားျဖင့္ ေရ ႐ွည္တည့္တံ့ခိုင္ၿမဲသည့္ ရင္းႏီွးျမႇဳပ္ႏံွမႈအခြင့္အလမ္း မ်ားကို ဖန္တီးေပးလ်က္႐ိွပါသည္။

    CORPORATE PROFILE

    First Myanmar Investment Public Co., Ltd. (“FMI”, the “Company” and collectively with its subsidiaries, the “Group”) is one of Myanmar’s largest public companies with more than 8,600 shareholders and has a track record of profitability over the past 27 years. In March 2016, FMI became the first company to list on the Yangon Stock Exchange (“YSX”). FMI’s strength lies in its strategic diversification, professional management, corporate governance and transparency. FMI’s Board of Directors (the “Board” or the “Directors”) promotes good corporate governance and has a strong independence element to protect the interests of its stakeholders.

    FMI is affiliated with Serge Pun & Associates (Myanmar) Limited (“SPA”), Yoma Strategic Holdings Ltd. (“Yoma Strategic”), a company listed on the Mainboard of the Singapore Exchange Securities Trading Limited (the “SGX-ST”), and Memories Group Limited (“Memories Group”), a company listed on the Catalist board of the SGX-ST. FMI, SPA, Yoma Strategic and Memories Group, together with their respective subsidiaries, are collectively referred to as the “Yoma Group”.

    First Myanmar Investment အမ်ားႏွင့္သက္ဆိုင္သည့္ ကုမၸဏီလီမိတက္ (“FMI”) (“ကုမၸဏီ” နွင့္ ၎၏ လက္ေအာက္ခံကုမၸဏီခဲြမ်ားစုေပါင္း၍ “ကုမၸဏီ အုပ္စု”) သည္ အစု႐ွယ္ယာ႐ွင္ေပါင္း (၈,၆ဝဝ) ေက်ာ္႐ိွၿပီး စတင္တည္ေထာင္ သည့္ အခိ်န္မွစ၍ (၂၇)ႏွစ္တာကာလတစ္ေလွ်ာက္ အျမတ္အစြန္းစဥ္ဆက္မျပတ္ ရ႐ိွခဲ့ျခင္းတို႔ျဖင့္ မွတ္တမ္းေကာင္းတစ္ခု ေရးထိုးထားႏိုင္သည့္ ျမန္မာႏိုင္ငံ၏ အႀကီးဆုံးအမ်ားပိုင္ ကုမၸဏီမ်ားအနက္ တစ္ခုျဖစ္ပါသည္။ FMI သည္ ၂ဝ၁၆ ခုႏွစ္၊ မတ္လတြင္ ရန္ကုန္စေတာ့အိတ္ခ်ိန္း၌ စာရင္းဝင္ေသာ ပထမဆုံးကုမၸဏီ ျဖစ္လာခဲ့ပါသည္။ FMI ၏ အားသာခ်က္မ်ားမွာ မဟာဗ်ဴဟာေျမာက္ေသာရင္းႏီွး ျမႇဳပ္ႏံွမႈမ်ား၊ ကၽြမ္းက်င္ေသာစီမံခန္႔ခဲြမႈ၊ စည္း ကမ္း႐ိွေသာ ကုမၸဏီအုပ္ခ်ဳပ္မႈႏွင့္ ပြင့္လင္းျမင္သာမႈ႐ိွျခင္း တို႔ျဖစ္ပါသည္။ FMI ဒါ႐ိုက္တာအဖဲြ႕ဝင

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