The British Chamber of Commerce 2021 Annual General Meeting was held on Tuesday 14th December, at the Pan Pacific Hotel, Yangon. The format of the AGM was conducted both physical and virtual this year with the technical support of our Gold Partner - BIM Group.
The AGM 2021 meeting covered the
- Report of the Board of Directors’, presented by the Chamber’s Chairman, Peter Beynon;
- Financial Statement Summary 2020 October- September 2021, presented by the Treasurer of the Board, Mike Phone Myint
- Approval for the appointment of the Chamber’ auditors
- Election Results
- CEO Forward Looking Statement
Official Minutes of the Meeting Will be Circulated Separately
Chairman’ Opening Speech
Thank you, Ladies and Gentlemen.
Welcome to the 2021 AGM.
I am sorry that the meeting must be held “virtually” again for many of us. I had certainly hoped to be with you all in person. I have done my best to “move heaven and earth” to be there. However, the “best laid plans of mice and men” have been thwarted on this occasion by the covid Omicron variant and the vagaries of bureaucracy for returnees to the Golden Land be they citizens, business investors or employees. Suffice it to say I am still awaiting my relief flight which I hope will now be on the 21st December which means I will be in hotel quarantine for Christmas!
It is incumbent upon me as Chairman to provide a eulogy for the past year. Wow what as task that will be as everything will need to be politically correct.
I am delighted to report that the Chamber has been able to maintain a relevant programme for its members through the pandemic utilizing the wonders that the digit age has provided us. The adoption of Zoom and Teams has enabled the Chamber to maintain contact with members and provide updates and pertinent material to members. We could always have done more, but I think the Chamber responded and adapted well in the circumstances.
Then came the maelstrom associated with events of the 1st February. At the time I was in quarantine at the Novotel, having arrived there on the 29th January from a break to see the family over Xmas 2020….. therein lies another story. Suffice it to say that events of the 1st February came as a shock. I hindsight I have heard from so many that they “saw it coming”. I remain skeptical that this was the case. However, we are where we are.
It must be said that we have been universally appalled by the turn of events. There was widespread support for the passive resistance that initially opposed the political take over. This has subsequently turned more aggressive and the needless loss of life on both sides is abhorrent to all of us.
Now the British Chamber of Commerce exists to serve the members in the furtherance of their business interests. I am not saying that we can divorce politics from commerce, clearly, we can not. But, it is not for the Chamber to assume and promote one political agenda over another. The Chambers function, was, has, and should be to lobby, network and share best practices for doing business in, what has become a less than satisfactory, business operating environment.
I am clearly making understatements here; I hope it is appreciated that I am doing this for obvious reasons.
Suffice it to say, the Chamber has concentrated on the non-political operating environment post 1st February. Leaving individuals, countries and diplomats to handle this side of the equation. Peter and the Chamber team have worked tirelessly to assist members navigate the ever- changing business mars-scape. I use the term mars-scape advisedly reflecting the increasingly harsh and arid conditions that we businesses face.
The changed circumstances has resulted in an exodus of businesses and expats like. The mars-scape has pushed a good number of business over the edge of existence into oblivion. It gives no one any satisfaction to say this as it means people have lost money, families and lost jobs. The scepter of poverty is encroaching on more people in Myanmar today than at any time in many many decades. This is a tragedy.
It is to the credit of the Chamber Team and those of you here today, that we struggle on for the benefit of the business but most of all for what we can do for the greater good of the people of Myanmar. And struggle we Will!
The purpose of the meeting today is to thank the outgoing Board Members who have served diligently through a very difficult period as Directors. I want to thank, from the bottom of my heart:-
- Sri Srinivadadhavan
- Richard Emerson
- Catherine Smith
- Thiri Thant Mon
- Tom Platts
- Milla Rae
Each Director has served in a functional as well and general capacity as a Board Member. On your behalf I want to thank each and every one of them for their selflessness in the work they have done on your behalf as members. Good luck to those of them who have put themselves forward again as Directors. Indeed good luck to all the candidates for the 2021/2023 Board.
And finally, I want to thank Peter Crowhurst, Anna, Grace, Thinzar, Htet Htet, Thin Thin, Pwint Phyu, Su Nandar, Nyein Su…. I hope I have covered everyone. Your British Chamber team have done fabulously well to have kept the Chamber functioning and make it relevant to the over 200 members we have managed to attract and retain.
Thank you again, now over to Mike for his Treasury Report.
2021 AGM Financial Report - https://www.britishchambermyanmar.com/sites/britishchambermyanmar.com/files/publication_docs/agm_financial_reports_for_website.pdf
Congratulations, welcome and welcome back to our 2021/22 Board of Directors –
Newly Elected Board Member
- Devanandan Batumalai - KBZ Bank
- Martin Appel - Yoma Strategic Holdings
- Patrick Charm - Standard Chartered Bank
Re-Elected Board Members
- Catherine Smith - Pragma Ventures (Myanmar) Ltd
- Khaing Zar Aung - Willis Towers Watson Brokers (Singapore) Pte Ltd
- Thiri Thant Mon - Pegu Partners
- Tom Platts - Stephenson Hardwood LLP
Continuing Board Members
- Peter Beynon - Jardine Matheson
- Mike Phone Myint - BIM Group
- Asit Rath - Prudential Myanmar
- Eddy Herbert - FocusCore
Ex Officio Board Members
- Sarah Deverall - British Council Myanmar
- Warren Pain - Department for International Trade | British Embassy
We would also like to thank Stephen Chick of Yoma Strategic Holdings for putting forward as candidate and hope we have many more members next year eager to be elected onto the Board.
Grateful thanks to Gold Partners Mike Phone Myint and Eddy Herbert for officiating the proceedings and grateful thanks to Peter Beynon – Chairman, Asit Rath Vice Chairman and Warren Pain - Department for International Trade for all of your support for the British Chamber Myanmar.
Grateful thanks to all of Sponsor Partners for the continuous support to the British Chamber.
CEO FORWARD looking Statement | Peter crowhurst
Good afternoon, everyone and thank you for your participation today whether you are online or present. The purpose of today is to present our forward plan as to what the Chamber will be undertaking for the next board year. I will outline our objectives and of course welcome your feedback or thoughts on how we can further support sustainable Myanmar business.
Before I start, I want to express our grateful thanks to our Gold Partner and IT partner BIM Group, headed by Mike Phone Myint, thank you Mike for keeping us connected today and not least Mr. Eddy Herbert of FocusCore for his diligent MC and coordination, very much appreciated Eddy & Mike.
My grateful thanks are also extended to our board of directors, led by Chair Peter Beynon of Jardines & Vice Chair Asit Rath of Prudential, we could not ask for a better more together and committed board who give their time and effort to support the Chamber.
A big thank you also goes to our Ex-Offico Members Warren Pain from the Department of International Trade and Sarah Deverall of the British Council; their wise council and support is an invaluable to the Chamber.
We are incredibly proud to have so many topflight companies as Sponsors of the Chamber and it would be remiss of me not to mention them by name.
- Jardines
- Standard Chartered Bank
- Prudential Myanmar
- Mandalay MMK
- AYA Bank
- Memories Group
- Yoma Strategic Holding
- Unilever
- Willis Towers Watson
- Stephenson Harwood
- BIM Group
- Carlsberg
- FocusCore
- Shwe Taung, our Landlord and host today.
We are incredibly grateful for your support and help towards the Chamber.
also want to pay tribute to the Chamber team who have stuck together, like glue, and performed exceptionally well and with this report I will describe their achievements and together with the forward plan.
The Chamber is an independent business association we are apolitical and our objectives for this and likely future years is to
- Support, Develop and Build Sustainable long term business opportunities in Myanmar providing a sustainable long-term future for its people.
This is a tall order in the Myanmar market, however this is what a Chamber does, make a difference and build
With the strong board, top class ex officio support and not least you our members we are in an excellent position to be “top of the class” and the Chamber of Choice for Myanmar.
As you have heard from our Treasurer, the Chamber has certainly been financially impacted however we liquid which is down your memberships and not least some pragmatic cost adjustments, revenue generating programmes.
Membership
We have certainly lost some members due to either closing business or just a plain and simple budget cut; however, that said just over 100/120 renewed during our main renewal period that takes place in August & September 2021, bringing our total membership roster to around 203 companies.
Despite everything we have welcomed some new members including
- School of Oriental and African Studies |SOAS
- Mitsubishi Corporation
- Hana Microfinance
- Carlsberg Myanmar, upgrading from corporate to Gold Member
- Gov Risk
- Qatar Airways
The team have also developed a student membership category, such a category is not going to move the financial needle that much, however, provides an incubator for the future business leaders to get them involved in the Chamber. So far 11 memberships are in application to this category.
For Mandalay, where we have active members, we will be strengthening our team and programme there, developing further events, membership programmes throughout the year. We are also strengthening our existing MOU with Mandalay Regional Chamber of Commerce & Industry.
That said we regrettably do not accept some applications where sanctioned issues arise. I won’t mention who they are, however, we can say that we have a robust, pragmatic and ever evolving due diligence process.
Our membership is open to all nationalities, on the basis that the applicant has interest to trade or build relationship with UK business. Such a membership should be seen not as an expense but as a small investment that supports your company with some big opportunities to connect. We have challenged ourselves with a target of 60 new memberships for the coming year, this we believe is achievable focusing on local companies.
Member Benefits
We are refining our benefits all the time, clearly sponsor member have considerable opportunities to promote products, as part of their membership package, however we do encourage all members, through the Chamber network to participate.
Qatar Airways have just signed as an airline partner as they intend to be the first one on the tarmac once scheduled flights re-open. Qatar are offering discounted fares ex UK to Asian airports currently and also the same from these airports such as KL, Seoul, Bangkok etc. Air KBZ and MAI are our domestic & regional partners also offer useful membership benefits.
We are seeking more and more member-to-member benefits, so for example:
- Banking members offering preferential terms to British Chamber members
- Insurance members providing useful programmes
- Hotels, providing offers such as event packages, room rates
We would urge Member companies not to be shy but use the Chamber network to strengthen your market reach.
Events
Following the theme of better together our events programme will see the
- Re-launch of physical networking events; late last month we teamed up with the EU and AMCHAM for a joint networking. On the 25th of November we teamed up with the Hong Kong Chamber of Commerce.
- A Christmas lunch at the Pan Pacific on the 15th of December, together with other international Chambers will certainly bring the international community together. There are over 130 participants so far. There are some seats still available so do join the festivities tomorrow.
- The Chamber has commenced partnership events centered around sustainability and tackling climate change. We have partnered with the World Wildlife Fund to help produce a series of events on this theme with a quality range of speakers.
- The theme of health, sustainability and renewable energy will also be very much on the agenda, not just talk but concrete action.
- Speaking of health and general wellness, the Chamber is developing a programmes on well being and supporting employees not only to build mental strength but also to strengthen productivity and general well being.
- We aim to develop some other social events during 2022, look at some golf tournaments, and potentially a larger social gathering.
Training
- We will build on our continued professional development portfolio covering language, professional and management skills at its core. This has represented around 40% of our current activity.
- The courses presented cover in particular Project Management, Finance (covering all levels) and management. We are also relaunching the British Council’ programme early next year with IELTS training to start with.
- These courses are really valuable and well priced, presented by experts in their field, we do urge companies to further support.
Trade & Business
We don’t want to be a Chamber of Chat, but one that is provides progressive and pragmatic trade services to those interested in doing business in the country.
- We are in a sanctioned environment, that unfortunately is a fact of life again. The Chamber is very adept at navigating this changing landscape and identifying the right companies to link up.
- The trade team is led by Anna who manages the Department for International Trade mandate to provide trade and business services for UK exporters into the Myanmar market. A recent notable arrival from the UK is Isle of Wight Gin is now on sale in Yangon!
- We are not actively promoting by undertaking “do business in Myanmar events” these have generally proven to be not so successful; however, we remain in close contact with all our trade partners and contacts; helping them navigate the business landscape.
- We continue to receive trade inquiries and we are actively supporting their objectives with the Chamber’s trade and business services team. Despite everything we have been to introduce potential opportunities covering the education and health sector with discussions currently ongoing.
- Our focus sectors are:
- Renewable Energy - Solar, tidal, in river power generation, wind
- Education - Developing relations with UK educational institutions
- Health
- Equipment, expertise, systems, health education, pharmaceutical in particular
- Anna will be further enhancing the export desk for the Chamber, identifying sustainable companies wishing to export products from Myanmar.
- The Chamber’ core theme for 2022 is sustainability, building awareness, taking concrete steps to tackle climate change, reduce waste, improve the environment and not least build protection for the food supply. We will be asking our member companies to participate in various programmes and activities that promotes best practice on one hand but also promotes awareness as much as possible.
- Our events will also feature these types of events, we recently, as mentioned, worked together with World Wildlife Fund and various banks and financiers to help promote a sustainable future and how to pay for it. We are a strong believer that banks and financing organisation need to change their theme that is less of a money-making exercise but one that it supports the longer term survival of our species!
- We are also pleased that the Chamber has been appointed by SupplyFinder a multi lateral trade platform based in the UK to support trade development which will be in particular useful for Myanmar member companies seeking overseas trade opportunities.
Our Network
- The Chamber’ Links to Associations are also very important to us and have been forged over the since my appointment as CEO. Such agreements include Myanmar Private Equity and Venture Capital Association, Myanmar Institute of Directors, and more locally UMFCCI and Mandalay Regional Chamber of Commerce & Industry.
- The British Chamber is also unique as currently co-chair of BiSEA, Britain in Southeast Asia where all the regional British Chambers of Commerce meet regularly to discuss opportunities, share events and not least promote trade. It also means that we can run and promote events regionally and globally.
- Lastly, being an international affiliate of the British Chambers of Commerce based in London that provides extensive links to all the regional chambers of commerce in the UK, around 54 of them and the international network of British Chambers across the globe, around 70 of them. You as a member have immediate access to all these resources. So, whether from Mandalay to Manchester or Bago to Birmingham, we can connect you
Working Groups
The working groups are the engine of the Chamber; Since February 1st they have been rather quiet, partly because of observing the situation, understanding what could and could not be said. However we are looking to the leads of all the Working Groups to grasp the nettle and look forward to their re-commencement.
- Energy Neil Carmicheal
- Financial Services Azeem Azumuddin – formerly with AYA Bank
- Professional Women’s Network Catherine Smith
- Human Resources Eddy Herbert – FocusCore
- Legal Stanley Kyaw – Ascent Capital
We are looking forward to their reactivation in the New Year, with a renewed energy and not least providing a platform to share ideas and bring about effective business solutions. That said the Professional Women’ Network, as mentioned is already active with an event planned the latter part of this month.
British Embassy & Department for International Trade
I would like to thank the Department for International Trade, headed by Mr Warren Pain at the British Embassy Yangon for their unwavering support to the Chamber. We are looking forward to building on our already very positive working relationship with the British Embassy in 2022. The Embassy Briefings have become a vital link to understand the UK’ approach to Myanmar.
It would also be remiss of me not to mention the former British Ambassadors who have fervently supported the Chamber over the years; Mr. Andrew Patrick, Mr Dan Chugg and extend a belated but warm welcome to the current Ambassador Designate Pete Vowles.
Concluding Remarks
The Chamber remains fully operational, though without your support and help this would not be possible. We are also very much looking forward to working with the newly elected board members in the years ahead, congratulations.
We do not intend to walk away; frankly we have expended too much time and energy to waste the opportunities created now. The Chamber has built a professional cohesive team who can respond well to any request and of course anticipate your needs.
In closing we seek and welcome your feedback and of course your support where we can all create a win-win situation for the people and the sustainable economy in Myanmar and the UK in particular.
Thank you.
