Assessing Myanmar Firms’ Corporate Governance Practices

January & March 2018

The Securities and Exchange Commission of Myanmar (SECM) and IFC have been assessing the corporate governance practices of around 30 Myanmar companies against international standards to help them improve performance and risk management.

In January and March 2018, IFC, SECM, the Yangon Stock Exchange, and the Directorate of Investment and Company Administration organized two workshops for Myanmar companies. IFC experts led participants in evaluating the corporate governance practices of listed Myanmar companies using the Association of Southeast Asian Nations (ASEAN) Corporate Governance Scorecard, a regional benchmark that rates performance on areas such as equitable treatment of shareholders, responsibilities of the board, and disclosure and transparency. The organizers held a follow-up training in March for companies participating in the scorecard.

“Corporate governance assessments can help Myanmar companies analyze their performance, identify areas for improvement, and bring their practices in line with international standards,” said U Htay Chun, a Commission Member of SECM. “This will help companies set realistic goals for reform, improve their performance, and attract more investment.”