Myanmar Investments Intl Ltd Posting of Annual Report & Accounts/Notice of AGM (1516C)
September 27 2018 - 4:42AM
UK Regulatory
TIDMMIL
RNS Number : 1516C
Myanmar Investments Intl Ltd
27 September 2018
This announcement contains inside 27 September 2018
information
Myanmar Investments International Limited
Publication of the Annual Report & Accounts and the Notice
of AGM
Myanmar Investments International Limited ("MIL" or the
"Company"), the AIM-quoted Myanmar focused investment company, is
pleased to announce that it has posted to its shareholders and
warrantholders its Annual Report and audited financial statements
for the year ended 31 March 2018 together with the Notice of its
AGM and a Form of Proxy.
Copies of the Annual Report and audited financial statements for
the year ended 31 March 2018 and the Notice of AGM have been
published and are available in electronic form on the Company's
website at http://myanmarinvestments.com/financial-reports/
For further information please contact:
Craig Martin Michael Dean
Managing Director Finance Director
Myanmar Investments International Myanmar Investments International
Limited Limited
+95 (0) 1 391 804 +95 (0) 1 391 804
craigmartin@myanmarinvestments.com mikedean@myanmarinvestments.com
Nominated Adviser Broker
Philip Secrett / Jamie Barklem William Marle / Giles Rolls
Grant Thornton UK LLP finnCap Ltd
+44 (0) 20 7383 5100 +44 (0) 20 7220 0500
For more information about MIL, please visit
www.myanmarinvestments.com
Notes to Editors
Myanmar Investments International Limited (AIM: MIL) was the
first Myanmar-focused investment company to be admitted to trading
on the AIM market of the London Stock Exchange. MIL was established
in 2013 with the intention of building long-term shareholder value
by proactively investing in a diversified portfolio of Myanmar
businesses that will benefit from the country's re-emergence and
ongoing economic development. The Company is led by an experienced
and entrepreneurial team who between them have considerable
industrial, corporate and financial management experience.
MIL aims to identify investments with strong growth which if
necessary can be "de-risked" through the introduction of
experienced senior line-management, mentors and/or strategic
partners sourced by MIL's management board. The Company's main
focus is on opportunities that are experiencing acute supply and
demand imbalances.
MIL provides investors with a highly disciplined and
conservative investment process into one of the most promising
growth opportunities of this era.
MIL's largest investment to-date (US$21 million investment for a
9.0 per cent effective shareholding) is in Apollo Towers, Myanmar's
second largest telecommunications towers company with 1,800 towers.
Apollo operates in the high growth telecommunications sector with a
strong management that is growing the number of co-locations (i.e.
multiple tenancies) on its portfolio of towers. In June 2016, OPIC
provided a US$250 million debt facility to Apollo Towers. The
reorganisation with Pan Asia Towers is expected to produce a more
efficient and profitable combined investment.
MIL's first investment in August 2014 was into Myanmar Finance
International Limited ("MFIL") which today is one of the leading
microfinance companies in Myanmar. Since MIL invested, MFIL's
business has expanded rapidly. The business is profitable with a
sustainable expansion plan for long-term growth. In November 2015,
the Norwegian Government's Norwegian Investment Fund for Developing
Countries ("Norfund"), the Norwegian development finance
institution, also became a 25 per cent shareholder in MFIL.
MIL's third investment in May 2017 was into Medicare
International Health and Beauty Pte. Ltd., ("Medicare"). This was a
greenfield pharmacy, healthcare and personal care product retail
franchise joint venture. The joint venture partners are: a) H&B
Management Solutions Pte. Ltd., which owns Medicare Vietnam, one of
the largest pharmacy, health, beauty and personal care retail
groups which runs over 70 outlets in Vietnam; and b) Randy Guttery,
an industry veteran with significant experience leading Asian-based
retail concepts. It is expected that Medicare will fill a vacuum in
the present retail landscape and at the same time tap into the
rapid growth of the middle and affluent classes in Myanmar.
Myanmar, a country of approximately 54 million people and
roughly the size of France, has been isolated for much of the last
50 years. Strategically situated in one of the world's most
economically dynamic regions amid the intersection of India, China
and South East Asia it is a key component of China's 'One Belt One
Road' strategy providing direct access to the Indian Ocean.
Whilst it was once one of the more prosperous countries in
Southeast Asia with an abundance of natural resources (oil, natural
gas, arable land, tourist attractions and a long coastline), it is
now one of the least developed countries in the world. However, it
has a number of competitive advantages: a population of 54 million
people (it is the 26(th) most populous country in the world); a
large workforce with a high literacy rate of 90%; 68% of the
population is of working age (between 15 and 65); and 28% of the
population is under 24 which is expected to provide a strengthening
consumer demand.
Today its economy is picking up and the IMF is projecting GDP
growth for Myanmar to average 7.2% p.a. through to 2023.
Myanmar has undergone an unprecedented transformational reform
process, initiated by the U Thein Sein administration in 2011. The
elections in 2015 were the first democratic elections in 50
years.
This remarkable change has not been without its difficulties and
the situation in Rakhine state, which stems from a complex and
historically charged background, remains un-remedied. The Advisory
Commission on the Rakhine State crisis, led by the late former UN
Secretary-General Kofi Annan, has provided an important framework
which can provide the foundations for addressing the distressing
situation there.
For more information about MIL, please visit
www.myanmarinvestments.com
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END
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