Myanmar Institute of Directors (MIoD) joint event with the India-Myanmar Chamber of Commerce (IMCC) and the Myanmar Hong Kong Chamber of Commerce and Industry
Ma Cherry Trivedi, CEO of MIoD presented a corporate briefing on Corporate Governance on February 17th at India in Myanmar (Embassy of India, Yangon). The meeting was attended by over 30 professionals.
Myanmar Institute of Directors (MIoD) took part in the “𝐒𝐭𝐨𝐜𝐤 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 & 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬” training offered to around 290 University Students (3rd and 4th Years) of the Yangon Institute of Economics (YIE) Campus’ Theatre 2.
This five days training program (from 20th – 24th January 2020) for YIE Students was organized by Institute of Business and Investment Management – IBIM Myanmar and contribution by ICAEW, CISI, Yangon Stock Exchange – YSX, Security Exchange Commission (SECM), Myanmar Private Equity & Venture Capital Association (MPE/VCA), GLOBAL Legal Myanmar and MIoD.
These five-day sessions broadened the students’ knowledge of Capital Market, the operation of the Stock Exchange in Myanmar, Legal Process, the importance of Corporate Governance for Myanmar Companies and etc.
The MIOD’s Board Secretary Program (BSP) conducting #Day1 on 16th January 2020 in Myanmar, first-ever formal Company/Board Secretary Training Program with certification. The Program content is developed by Mark Livingston (Livingstons Legal), DENTON Rodyk in Myanmar and Myanmar Institute of Directors.
The Third Batch of MIoD’s “Board/Company Secretary Program” for Company/Board Secretaries and other professionals who are directly involved in board support and board information preparation and presentation to help them provide to their board the best quality board support.
Morning sessions are exciting and getting ideas for enhancing the way of work as a professional Company Secretary as the summary of how-to which skills company secretaries should ideally have to adequately fulfill their role as governance facilitators.
The importance of the company secretary’s role in Myanmar has increased over the years. No longer the person who merely keeps the minutes of the board and handles board correspondence, the company secretary role can now include administering the affairs of the company and managing/supporting the business of the board.
Day 2 of the Third Batch of MIoD’s “Board/Company Secretary Program was successfully conducted for Company/Board Secretaries and other professionals who are directly involved in board support and board information preparation and presentation to help them provide to their board the best quality board support.
Day 2 Program started with recapturing Day 1 sessions and reviewing for program. The feedbacks and review results show in the following photos ↴
As the feedback from Participants, DICA sessions are also very effective to understand for using MyCo and also get a good connection with DICA team and also networking among themselves.
Thanks to all the participants for active participation. We do appreciate Directorate of Investment and Company Administration (DICA), IFC – International Finance Corporation, Denton Myanmar for the partnership to become effective training.
On 13th January 2020, 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.
The program was set within the #Asian #business 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.
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).
✍ ͏͏Th͏e ͏w͏a͏l͏t͏o͏n ͏f͏a͏m͏i͏l͏y ͏o͏f ͏w͏a͏l͏m͏a͏r͏t, ͏r͏o͏c͏h͏e, ͏m͏a͏r͏s ͏f͏a͏m͏i͏l͏y — ͏m͏a͏r͏s, ͏s͏a͏m͏s͏u͏n͏g, ͏c͏a͏r͏g͏i͏l͏l ͏a͏n͏d ͏k͏o͏c͏h ͏f͏a͏m͏i͏l͏y — ͏k͏o͏c͏h ͏i͏n͏d͏u͏s͏t͏r͏i͏e͏s ͏w͏h͏a͏t ͏d͏o ͏t͏h͏e͏y ͏h͏a͏v͏e ͏i͏n ͏c͏o͏m͏m͏o͏n? ͏t͏h͏e͏s͏e ͏a͏r͏e ͏t͏o͏p 10 ͏w͏e͏l͏l ͏k͏n͏o͏w͏n ͏f͏a͏m͏i͏l͏y ͏o͏w͏n͏e͏d ͏c͏o͏m͏p͏a͏n͏i͏e͏s ͏p͏e͏r ͏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:
• Family Governance in the context of succession planning
• Best Practice review of live case studies across Asia
• Ethical Dilemmas, through the reconciliation methodology
Directors on the Board need to work together as a team by navigating turbulent times by
ᗩ (ᗩTTITᑌᗪE), ᗷ (ᗷEᕼᗩᐯIOᑌᖇ) ᗩᑎᗪ ᑕ (ᑕᗩᑎᗪOᑌᖇ) Oᖴ ᗷOᗩᖇᗪ ᗪYᑎᗩᗰIᑕᔕ
Director Certification Program (DCP) Day 3 Afternoon session started with the session of Peter Brimble, Senior Technical Advisor, DaNa Facility. He presented a presentation related to Inclusive economic growth through responsible and sustainable private sector development, the title “𝐓𝐫𝐢𝐩𝐥𝐞 𝐖𝐢𝐧𝐬 𝐢𝐧 𝐌𝐲𝐚𝐧𝐦𝐚𝐫 𝐂𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐚𝐧 𝐈𝐧𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭”
Inclusive Business is an innovative approach to promoting growth in an economy with the private sector contributing to inclusive economic growth by creating and expanding opportunities for the poor. Inclusive Business is a relatively new concept in Myanmar and while there are a growing number of social enterprises and corporate social responsibility activities in the country, the notion of engaging the poor through core business activities is still nascent.
The Head of DFID – UK Department for International Development to Myanmar, Dr Gail Marzetti, speaking about the publication of the report in Yangon today said: “Inclusive businesses engage the poor in a way that offers sustainable solutions to the problems the poor face. This is the triple win of inclusive business: the poor, the company, and society all win. That is why it can have such a profound impact on society and on the economy, promoting inclusive growth and sustainable development. And this is why DFID and the UK Government are so committed to promoting Inclusive Business and why we are so pleased to be involved in the publication of this ground-breaking report.”
A copy of the Inclusive Business in Myanmar report can be found on the DaNa website here.
18 director generals, board directors, senior executives and Corporate Governance practitioners from 10 companies and government agencies attended MIoD’s 2-day Finance for Directors Program on 16th – 17th December 2019.
Day 1 started with an overview of relationship between corporate governance, directors and financial knowledge and the various responsibilities of management, directors, auditors and stakeholders including a review of financial statements, their component parts, and development of ways to analyze business/financial information and use ratios including group presentation and role play exercise.
Day 2 started with understanding diverse sources of company finance and their advantages and disadvantages and the nature and purpose of financial information for internal purposes. The session reviewed the fundamentals of accounting and audit frameworks and standards, statutory financial reports, and other external reporting obligations, nature and purpose of external financial information, fundamentals of accounting, accounting standards and how information flows through a company. The session continued with case study of Myanmar and International companies annual reports. The sessions ended with Questions and Answers.
An expert team from MIoD, World Bank Group, AYA Financial Group (AFG) and ACCA delivered the workshop with expert facilitators.
Myanmar Institute of Directors is promoting corporate governance standards and best practices in Myanmar. MPE&VCA organized a course on “The Basics of Corporate Governance” in early December to help executives improve their understanding of the importance of sound corporate governance processes and structures in a company. We acknowledge and thank Myanmar Private Equity & Venture Capital Association (MPE&VCA) for organizing Awareness Session with MIoD.
