Myanmar Institute of Directors (MIoD) with support of Mandalay based representatives of Directorate of Investment and Company Administration (DICA) held its inaugural networking session for Mandalay business community to commemorate the first run of its Director Certification Program. MIoD launched its three-day intensive DCP in April and two runs of the program took place in Yangon in April and June 2019. The program is set within the Asian businesses context and provides a well-rounded board-level view of key strategic areas and issues facing many companies in Myanmar. MIoD networking session was attended by over 80 members of Mandalay business community and over 30 board members and business owners registered for the first batch of training in Mandalay.
The session was opened by Ma Cherry Trivedi, CEO of MIOD, Anar Aliyev, Corporate Governance Officer, IFC and Peter Brimble, Chief Technical Advisor, from Dana Facility. Aung Myat Khaing from MIOD team acted as master of ceremony.
Ma Cherry thanked the business community of Mandalay for their support and attendance along with Mandalay DICA for continued efforts in upskilling the business community in Myanmar. She addressed the attendees with the importance of Corporate Governance in Myanmar and encouraged Myanmar companies to improve transparency, legal compliance and implement better governance practices to improve their access to capital and enhance reputation.
Mr. Aliyev and Mr. Bimble also thanked the Mandalay business community and addressed the importance of Corporate Governance in Myanmar.
Kim Chawsu, MIOD director of Learning spoke about the MIOD’s mission in upskilling Directors in Myanmar and explained the development of relevant courses for Myanmar Directors and C-Suite education that are best in class with Myanmar reference.
“Myanmar needs this kind of association and education for companies to upskill our business community to upgrade our businesses, along with creating investor friendly environment in Myanmar”, shared Zaw Latt, Founder & Group Chairman of ABC-MIB Group of companies.
MIOD will be conducting regular training programs in Yangon and Mandalay and intends to launch across key cities in Myanmar along with DICA’s support.
MIoD was set up in March 2018 to promote corporate governance standards and best practices in Myanmar. It was formed with support from IFC, a sister organization of the World Bank, and the governments of Australia and the United Kingdom.
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About MIoD
The Myanmar Institute of Directors (MIoD) provides the Myanmar market with thought leadership in corporate governance as well as professional corporate governance and director education. MIoD aims to advance board professionalism, promote business ethics and transparency, create networks between corporate leaders and stakeholders, and boost investor confidence in Myanmar’s private sector. www.myhanmariod.com
Like MIoD on Facebook: https://www.facebook.com/MyanmarIoD/
For further information, contact: MIoD on info@myanmariod.com
30 director generals, board directors, senior executives, board secretaries and corporate governance practitioners from 23 companies and government agencies attended MIoD’s 1.5-day Board Secretary Program 1st Batch on July 30th – 31st, 2019. The workshop is part of MIoD Learning Series and the course focuses on four key practical aspects of company secretarial duties: directors’ meetings; members’/shareholders’ meetings; company registers; and DICA company filings via the MyCO online registry system. An expert team from Livingstons Legal and DICA delivered the workshop.
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MIoD Breakfast Talks are a way that members and public can listen and participate in discussions, on a wide range of topics that effect Myanmar’s public and private sectors today.
Inaugural talk will begin with “Boardroom Series – Directors and Officers Liability Insurance” will take place on the 10th July and will be conducted by Wallis Towers Watson.
MIoD was launched in March 2018 to provide dedicated Board Directors and Executives education. MIoD aims to promote good corporate governance practices to Myanmar companies. Though its various activities, MIoD will provide best practice tools and resources, to enable Directors to effectively perform their duties to international standards.
Event Fees : $ 10 or MMK 15,000 for Non-Members
Free for Certified Members of MIoD
??????? ?? ?????: At a time when regulators and investigatory authorities are focusing unprecedented attention on personal accountability for company directors and the business world is constantly changing.
Corporate scandals, increased shareholder awareness and extended rules on corporate governance have made being a company director in the 21st Century an increasingly difficult task. Directors have always been bound by many duties arising under jurisdictional laws. The difference in today’s world is that stakeholders have far greater forms of remedy against directors and there is an increased willingness to pursue claims against them. Whether or not the director is ultimately held liable for such claims, the defense costs associated can be extremely expensive, and the process can take up months or even years of a director’s valuable time. In practice, once a claim is alleged against a director for any wrongdoing, they can seek assistance from D&O policy.
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To register, please register through email rsvp@myanmariod.com;
or
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If you need more information, please contact Myanmar Institute of Directors (MIoD) – Address: Room 408, Prime Hill Business Square No. 60, Shwe Dagon Pagoda Road, Dagon Township, Yangon, Myanmar. Office Phone: +95 1 382710 ext: 40801~3,5,7
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 progra ms . 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 ????????? ?????????? 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 ?????? ???????? context. The discussions are really helpful to understand how to ensure effective implementation of governance practices in their companies.
Day 2
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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.
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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 progra ms . 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 addresse s 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 Myanma r cities alongside Yangon.
