Director Certification Program (DCP) 2nd Batch was held on 11th – 13th June, 2019 in Sule Shangri-la Hotel, developed by the Myanmar Institute of Directors (MIoD) together with IFC , a sister organization of the World Bank, in partnership with the Singapore Management University Executive Development, renowned for its excellence in delivering executive programs . The Director’s Certification Program was organized with the support from the Directorate of Company Administration and the governments of Australia and the United Kingdom.
Day 1
Day 1 DCP is an important day to understand a deep dive into the fundamentals of the 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒆 𝑮𝒐𝒗𝒆𝒓𝒏𝒂𝒏𝒄𝒆 Framework. Morning sessions, Participants discussed more focus on examining the role, structure, and function of the board of directors, how it is set in the 𝐅𝐚𝐦𝐢𝐥𝐲 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 context. The discussions are really helpful to understand how to ensure effective implementation of governance practices in their companies.
Day 2
“𝑨𝒄𝒄𝒐𝒖𝒏𝒕𝒊𝒏𝒈 𝒊𝒔 𝒕𝒉𝒆 𝒍𝒂𝒏𝒈𝒖𝒂𝒈𝒆 𝒐𝒇 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔… 𝑻𝒐 𝒃𝒆 𝒔𝒖𝒄𝒄𝒆𝒔𝒔𝒇𝒖𝒍 𝒂𝒕 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔, 𝒚𝒐𝒖 𝒉𝒂𝒗𝒆 𝒕𝒐 𝒖𝒏𝒅𝒆𝒓𝒔𝒕𝒂𝒏𝒅 𝒕𝒉𝒆 𝒖𝒏𝒅𝒆𝒓𝒍𝒚𝒊𝒏𝒈 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝒗𝒂𝒍𝒖𝒆𝒔 𝒐𝒇 𝒕𝒉𝒆 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔.” – 𝑾𝒂𝒓𝒓𝒆𝒏 𝑩𝒖𝒇𝒇𝒆𝒕𝒕
𝗗𝗮𝘆 𝟮 𝗼𝗳 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫’𝐬 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐠𝐫𝐚𝐦 (#𝗗𝗖𝗣) 𝗶𝘀 𝗮𝗹𝗹 𝗮𝗯𝗼𝘂𝘁 𝗙𝗶𝗻𝗮𝗻𝗰𝗲. 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀 𝗻𝗲𝗲𝗱 𝘁𝗼 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝘁𝗵𝗲 𝘀𝘁𝗼𝗿𝘆 𝗯𝗲𝗵𝗶𝗻𝗱 𝘁𝗵𝗲 𝗻𝘂𝗺𝗯𝗲𝗿𝘀 𝘀𝗼 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲𝘆 𝗰𝗮𝗻 𝗲𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲𝗹𝘆 𝗺𝗼𝗻𝗶𝘁𝗼𝗿 𝘁𝗵𝗲 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗵𝗲𝗮𝗹𝘁𝗵 𝗼𝗳 𝘁𝗵𝗲𝗶𝗿 𝗼𝗿𝗴𝗮𝗻𝗶𝘀𝗮𝘁𝗶𝗼𝗻𝘀 𝗯𝘆 𝗲𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗻𝗴 𝗶𝘁𝘀 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲.
We need to comprehend how to analyze the financial position and performance of a firm by taking a deep dive into financial statement analysis. The participants had a great time by doing case studies on which drivers can impact the operating profit (#EBIT). As Directors we hold great responsibility by providing the duty of care and diligence in carrying out our duties. Internal controls and managing risks are an integral part of the board’s review of its effectiveness. The day closed with studies of well-known accounting frauds which resulted in making wrong decisions which led to companies’ sustainability.
Day 3
The Walton family of Walmart, Roche, Mars family — Mars, Samsung, Cargill and Koch family — Koch Industries what do they have in common? These are top 10 well known family owned companies per Forbes.
𝐌𝐲𝐚𝐧𝐦𝐚𝐫 𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐥𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 𝐢𝐬 𝐦𝐚𝐝𝐞 𝐮𝐩 𝐨𝐟 𝐟𝐚𝐦𝐢𝐥𝐢𝐞𝐬 𝐰𝐡𝐨 𝐨𝐰𝐧𝐬 𝐦𝐚𝐧𝐲 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬. 𝐓𝐡𝐞 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞 𝐨𝐟 𝐟𝐚𝐦𝐢𝐥𝐲 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐢𝐬 𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐢𝐨𝐧 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠, 𝐞𝐧𝐬𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐟𝐚𝐦𝐢𝐥𝐲 𝐥𝐞𝐠𝐚𝐜𝐲 𝐢𝐬 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐭𝐨 𝐭𝐡𝐞 𝐧𝐞𝐱𝐭 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧.
On Day 3, the participants reviewed:
Directors on the Board need to work together as a team by navigating turbulent times by
The Myanmar Times has concluded “Myanmar’s economy towards GE2020 and beyond”, held at Wyndham Grand Yangon Hotel today.
The event gathered investors, executives, managers, policymakers and researchers to look at what lies ahead for Myanmar’s economy. It was made possible by the generous support of M Tower, Eneos, Marga Group, Bata and Tun Commercial Bank.
Special thanks to the five business leaders on our panel. They are Aung Htun, deputy chair, Myanmar Investment Holdings; Serge Pun, executive chair, Yoma Strategic and First Myanmar Investment Co; Than Lwin, senior consultant, KBZ Bank; Peter Beynon, country chair, Jardine Matheson in Myanmar and Cambodia; and Alok Verma, acting chief executive officer, Ooredoo Myanmar.
The Myanmar Times would also like to express our gratitude to the two speakers, Ma Cherry Trivedi from the Myanmar Institute of Directors and Sean Turnell, State Counsellor Daw Aung San Suu Kyi’s economic adviser.
Thirty business professionals, academics and regulators today graduated from Myanmar’s inaugural Directors Certification Program, becoming the country’s first batch of directors to be certified locally.
The three – day intensive program was developed by the Myanmar Institute of Directors (MIoD) together with IFC , a sister organization of the World Bank, in partnership with the Singapore Management University Executive Development, renowned for its excellence in delivering executive programs . The Director’s Certification Program was organized with the support from the Directorate of Company Administration and the governments of Australia and the United Kingdom.
The program was set within the Asian businesses context and provided a well – rounded board – level view of key strategic areas and issues facing many companies in Myanmar.
“The Directors Certification Program will help Myanmar directors become better aware of their responsibilities and ultimately improve the performance of boards and overall corporate governance in the country. This will help attract more foreign direct investment into Myanmar,” said Ma Cherry Trivedi, the CEO of MIoD.
“The Singapore Management University is proud to be the academic partner in Myanmar’s first Directors Certification Program,” said Dr Flocy Joseph, Head Strategic Partnerships, SMU – ExD . “The curriculum that we taught here specifically addresses the needs of Myanmar boards.”
Sandra Min, Managing Partner, Burgundy Hills Company Limited, a participant at the course said, “I have learnt so many things during these three days. I am more aware of what I can do in my capacity as a company director, e specially under the new Myanmar Companies Law. I feel confident that with certified directors on boards, Myanmar companies are set to grow and reach new heights.”
The Directors Certification Program will be offered on a regular basis across major Myanmar cities alongside Yangon.
Businesses in Myanmar can improve their labor productivity by up to 14 percent if they addressed bullying and sexual harassment reveals a report released today by IFC – International Finance Corporation, a member of the World Bank Group, and UK funded the DaNa Facility. The report, Respectful Workplaces: Exploring the Costs of Bullying and Sexual Harassment to Businesses in Myanmar, contains the findings of a study which was conducted to determine the prevalence and cost of bullying and harassment in the agribusiness, finance, retail and tourism sectors.The full report can be download from http://www.danafacility.com/…/IFC_RespectfulWorkplaces_ENG_…
With the aim of raising awareness of gender equality and celebrate International Women’s Day, the IFC – International Finance Corporation, the Securities and Exchange Commission of Myanmar, and the Yangon Stock Exchange – YSX, participated in the “Ring the Bell for Gender Equality” event alongside 70 stock exchanges worldwide.
The event gathered business leaders, investors, civil society members, and other key partners to highlight the business case for gender equality. Ma Cherry Trivedi, CEO of the Myanmar Institute of Directors (MIoD) and one of the panelists, advised women to embrace their careers and stop feeling guilty for not subscribing to society’s expectations of women’s roles. “What I need to do as a woman is to look at what I want from life. I would not let my environment make that choice for me,” she said.” (Credit- The Myanmar Times, 11th March 2019).
18 director generals, board directors, senior executives and Corporate Governance practitioners from 15 companies and government agencies attended MIoD’s 1-day Corporate Governance Action Planning on March 7, 2019. The workshop is part of MIoD Learning series and it provides a deep dive into the fundamentals of the corporate governance framework and helps directors and executives develop a plan for implementing effective governance practices in their companies. An expert team from IFC, AYA Bank, World Bank and SCM Legal delivered the workshop with both local and foreign expert facilitators.
