Corporate Governance

Governance Structure

To reflect our corporate structure, we have established a two-tier corporate governance system to govern Myanma Awba effectively:

  • At the Group level, our Board of Directors includes three directors. They benefit from the support of our Advisory Board to ensure an efficient oversight of its responsibilities for the Group. The Advisory Group includes two members.
  • The Group Board is supported by our Executive Committee, which includes representatives of the main Business Units and Functions of Myanma Awba.
Governance Structure

Our distinguished Advisory Board and Executive Committee take the lead in ensuring the Group remains true to its values and beliefs as it serves the farmers of Myanmar.

Board of Directors and Advisory Board Members

Thadoe Hein

Thadoe Hein

Chairman and Group Chief Executive Officer

Soe Mar Lar

Soe Mar Lar

Board Member

Soe Min Thant

Soe Min Thant

Group Treasurer

Raymond Leung

Raymond Leung

Board Member

Rajesh Malhotra

Rajesh Malhotra

CEO of Maha Agriculture Public Co. Ltd.

Board Responsibilities

Theme
Responsibilities
Board
  • Set and review Myanma Awba’s values and mission
  • Oversee compliance with legal and regulatory requirements and all policies approved by the Board
  • Assess the effectiveness of the Board
  • Identify and recommend potential Board members for election by shareholders
  • Recommend the Board remuneration policy for shareholder approval
  • Consider stakeholders’ expectations to secure the sustainability of the Group
Strategy
  • Review, approve and monitor the Group’s strategy
  • Monitor the overall performance of the Group’s progress toward its strategic objectives
  • Decide on critical business matters
Risk & Controls
  • Approve and oversee the risk management framework and associated policies and procedures
  • Establish and foster a sound control environment
  • Set the risk appetite for the Group
  • Advise the shareholders to appoint, reappoint or remove the External Auditors and Chief Internal Auditor
  • Ensure the integrity of financial statements and sustainability disclosure
Stakeholders
  • Ensure Myanma Awba conducts its business in a socially and responsible manner, and engage with its most critical stakeholders
People
  • Review and approve the human resource policies and framework for the Group
  • Develop succession plans
  • Set the remuneration and incentive schemes for the Management team

Board

  • Set and review Myanma Awba’s values and mission
  • Oversee compliance with legal and regulatory requirements and all policies approved by the Board
  • Assess the effectiveness of the Board
  • Identify and recommend potential Board members for election by shareholders
  • Recommend the Board remuneration policy for shareholder approval
  • Consider stakeholders’ expectations to secure the sustainability of the Group

Strategy

  • Review, approve and monitor the Group’s strategy
  • Monitor the overall performance of the Group’s progress toward its strategic objectives
  • Decide on critical business matters

Risk & Controls

  • Approve and oversee the risk management framework and associated policies and procedures
  • Establish and foster a sound control environment
  • Set the risk appetite for the Group
  • Advise the shareholders to appoint, reappoint or remove the External Auditors and Chief Internal Auditor
  • Ensure the integrity of financial statements and sustainability disclosure

Stakeholders

  • Ensure Myanma Awba conducts its business in a socially and responsible manner, and engage with its most critical stakeholders

People

  • Review and approve the human resource policies and framework for the Group
  • Develop succession plans
  • Set the remuneration and incentive schemes for the Management team

The Board benefits from the support of the Advisory Board in fulfilling its duties.

BOD Composition (as of 31 March 2022)

Gender diversity of the Board

Breakdown of directorships by type

Meeting attendance & activities of the Board

Activities of the Board and Advisory Board

In FY 20/21, the Board met 25 times. This high number of meetings reflects the Board’s involvement in the Group’s operation after February 2021. The Board was focused on safeguarding the Group’s sustainability, the security and integrity of its assets, the health and safety of its staff, and the continuity and compliance of its operations. It also reviewed and ensured that Myanma Awba’s mission was still relevant.

In FY 21/22, the Board met six times.

Attendance

The attendance of each Member is summarised in the table below:

Name
Type of Directorship
FY 21/22
FY 20/21
Thadoe Hein
Executive Chairman (Board and Advisory Board)
6/6
25/25
Soe Mar Lar
Non-Executive Director (Board)
6/6
25/25
Soe Min Thant
Executive Director (Board)
6/6
25/25
Raymond Leung
Independent Non-Executive Director (Advisory Board)
6/6
25/25
Rajesh Malhotra
Executive Director (Advisory Board)
6/6
25/25

Executive Committee

Martin Weiss

Martin Weiss

Chief Agronomist and CEO of Ayeyarwaddy Seeds & Irrigation Co. Ltd.

Rajesh Malhotra

Rajesh Malhotra

CEO of Maha Agriculture Private Co. Ltd.

Yeo Joohua

Yeo Joohua

Group Chief Operating Officer

Thaung Htike

Thaung Htike

Managing Director of Maha Agriculture Private
Co. Ltd.

Paye Zone

Pyae Zone

Founder & CEO of Zega Finance Co. Ltd.

Cho Win Hlaing

Cho Win Hlaing

CEO of Myanma Sanpya Crop Nutrition Co. Ltd. & EvoGro Co. Ltd.

Soe Than

Soe Than

Managing Director of Ayeryarwaddy Seeds

Than Tint

Than Tint

CEO of Myanma Awba Industries Co. Ltd.

Ya Min Thandar

Yamin Thandar

CEO of Piti Pyae Zone Co. Ltd.

Nyan Lin

Nyan Lin

Co-CEO of Wisarra International Co. Ltd.

Tin Aung Moe

Tin Aung Moe

Co-CEO of Wisarra International Co. Ltd.

Maung Maung Khaing

Maung Maung Khaing

CEO of Myanma Kaung Thuka Co. Ltd.

Nyi Nyi Kyaw Lwin Oo

Nyi Nyi Kyaw Lwin Oo

Group Chief Sustainability Officer

Nandar Myat Oo

Nandar Myat Oo

Group Chief Accountant

Clive Murray

Clive Murray

Managing Director of Pahtama Seed Co. Ltd.

Rupesh Kumar

Rupesh Kumar Sinha

COO of Maha Agriculture Private Co. Ltd.

Soe Thiha Zaw

Soe Thiha Zaw

CEO of Village Link Co. Ltd.

Milestones

2014
Exclusive collaboration with renowned tractor manufacturer TAFE to distribute tractors and machinery to our farmers with long-term credit payment schemes.
2014
2012
Creation of Maha Agriculture Microfinance to provide farmers with much-needed financial support.
2012
2010
Establishment of Myanmar’s first compound fertiliser plant with steam granulation technology and privately-owned pesticide and fertiliser laboratory with Gas Chromatography (GS) capabilities.
2010
2008
Became the first company in Myanmar to produce Granulated Insecticide after installing our own granulation plant.
2008
2007
Founding of Myanmar Pesticides Industry, the first and only privately-owned pesticides formulation plant in Myanmar. Implementation of PET bottling in-house for pesticide packaging.
2007
2007
Introduction of Nitrophoska, world-renowned brand complex fertilisers from Fertiva, Germany.

Development of Yangon Citrus farm, the first-ever commercial scale lowland citrus farm in Yangon with sophisticated water management system.
2007
2003
Founding of Ayeyarwaddy Seeds to import and distribute quality hybrid seeds.
2003
2000
Setup of new repackaging plant in Yangon Industrial Zone.

Expansion of research team to 50 agronomists.

Growth of distribution network with over 50 dealers nationwide.
2000
1998
Launch of compound fertilisers.

Achieving landmark US$1m sales for crop protection products

Formation of Research and Development team with 5 agronomists.
1998
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