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2019 Pwint Thit Sa / Transparency in Myanmar Enterprises Report Launched

30 April, 2019

The 2019 Report assesses information disclosure on the corporate websites of 248 large Myanmar companies, including listed, and public ones.

Myanmar Centre for Responsible Business (MCRB) today launched the fifth Pwint Thit Sa/Transparency in Myanmar Enterprises (TiME) report once again completed in partnership with Yever, a Myanmar business consultancy, which contributed pro bono to the report.

2019 Pwint Thit Sa Report (English)

Document PDF, 8371 downloads, 30 April, 2019

The 2019 Report assesses information disclosure on the corporate websites of 248 large Myanmar companies, including listed, and public ones. For the first time, it also includes 28 of the most important state-owned economic enterprises (SEEs). This makes it the most ambitious public report ever published about the state of corporate disclosure (CD) in Myanmar. The report is intended to support the objectives of the 2018 Myanmar Sustainable Development Plan and Myanmar’s achievement of the Sustainable Development Goals, particularly SDG16.

The 2019 Pwint Thit Sa report continues the methodological approach adopted in 2018. It assesses online disclosure of information on Corporate Profile, Corporate Governance, Sustainability Management, and Reporting, using criteria from the ASEAN Corporate Governance Scorecard (ACGS). However, in the 2019 report, MCRB and Yever have increased the weight of ‘performance’ criteria relevant to sustainability. More details about the 2019 report are available here.

The top four companies in 2019 scoring highest for disclosure are City Mart Holdings (CMHL), First Myanmar Investment (FMI) Group, Max Myanmar and Shwe Taung. While these companies have consistently featured in the Top 10 of previous Pwint Thit Sa reports, Pwint Thit Sa 2019 found that all of them continue to improve their disclosure.

Other companies scoring highly are United Amara Bank, Grand Guardian Insurance, Myanmar Thilawa SEZ Holdings, Dagon Group, Myan Shwe Pyi Tractors Ltd and AYA Bank.

The leading SEEs for disclosure are Construction and Housing Development Bank (CHDB) and Yangon Electricity Supply Corporation (YESC), the only two SEEs to score (just) above the overall average mark of 5%.

Many companies amongst those assessed still do not have corporate websites (108 out of 248, or 44% of those surveyed). The 5 companies on the Yangon Stock Exchange, which scored 32% on average.

The report also summarises current regulatory requirements concerning corporate governance and disclosure, including on issues such as corruption, environmental impact assessment (EIA) and beneficial ownership. Pwint Thit Sa 2019 also contains recommendations for companies, government, and other stakeholders.

MCRB and Yever plan to undertake research for the next Pwint Thit Sa report throughout the course of 2020, with the next report to be published at the end of 2020.