Stakeholder Engagement

At the core of First Myanmar Investment Public Company Limited, Sustainability Strategy is one of the vehicles we use to help us achieve our mission, which it to “Build a Better Myanmar for Its People.” We strive to create long-term value through our Vision:

Investor Satisfaction

We create sustainable investment opportunities by leading with integrity and robust business practices.

Customer Satisfaction

We serve our customers by being their trusted partner to deliver the best products and services for their needs.

Employee Satisfaction

We invest in our people to build careers around a shared culture of fairness, diversity, empowerment and recognition.

Our mission and targets are aligned closely to the Myanmar Sustainable Development Plan recently published in August 2018, enabling us to create greater value for our stakeholders. Our focus on the highest standards of governance, ethics, sustainability and responsibility also reflect our commitment as one of Myanmar’s leading companies in the industry.

Within the context of our Sustainability Framework, FMI Head Office provides leadership and capital to support the operating companies in their respective areas of service delivery and operational expertise. We monitor and evaluate the sustainability performance of our operating companies in six key areas –Anti-corruption, Legal Compliance, Environment, Employee Training and Development, Diversity and Local Communities – intended to encompass and incorporate the significant Environmental, Social, Governance (ESG) impacts of their operations.

Each of FMI’s major investees is actively enhancing their capacity to serve the public. Beyond mere compliance with minimum service standards, our management focuses on improving their own governance, service excellence, and social responsibility through innovation. Our investees report ESG performance separately.

Stakeholder Mapping

Customers

Serving millions of customers every year, from unborn babies to the elderly and from city dwellers to rural farmers, as a Group, we are committed to be a local brand that caters to various social strata of Myanmar.

Suppliers

Together with our suppliers, we commit ourselves to offer premium and quality-assured products and services through responsible and ethical practices that serve the needs of our customers.

Shareholders

We ensure that our shareholder’s values are aligned with the entire supply chain – focusing on market opportunities, innovation, sustainability, and corporate responsibility.

Core Competencies

Our core competencies lie in the four business sectors we operate in. While striving to be a diversified blue-chip conglomerate in Myanmar, we are fully committed to running our businesses efficiently and investing in new start-ups to encourage entrepreneurship and good business practices in the market.

Business Partners

We look for long-term sustainability in every partnership we embark on, both with local and multinational partners. In every business we enter, we exercise due diligence to assess whether our prospective partners’ way of doing business is compatible with our philosophy.

Employees

While striving to achieve a diverse and inclusive workforce that broadens our collective skills and perspectives, we invest in our people to build careers around a shared culture of fairness, diversity, empowerment, and recognition.

Sustainability

Our sustainability strategy focuses on the monitoring and evaluation of our businesses in six key areas – Anti-corruption, Legal Compliance, Environment, Employee Training and Development, Diversity, and Local Communities – intended to integrate the significant ESG impacts of their operations.

Society

To be a responsible corporate citizen is in the DNA of our Group. We are committed to building capacity and giving back to the communities in various aspects, both financially and non-financially in which we operate.

ESG Materiality, Targets & Policies

SR.MATERIAL ESG FACTORSTARGETSPOLICY
GOVERNANCE
1.Anti-Corruption
  • To uphold and adhere to the Group’s zero tolerance approach to corruption, bribery and fraud.
  • Anti-Bribery Policy
  • Anti-Corruption Procedure
  • Code of Conduct
  • Conflict of Interest Policy
  • Whistle Blowing Policy
2.Legal Compliance
  • We strive to maintain full compliance with the relevant national environmental policies, laws and regulations as well as IFC performance standards and the Asian Development Bank’s Safeguard policy.
  • Code of Conduct
  • Environmental, Health and Safety Policy
  • Human Rights Policy
ENVIRONMENTAL
3.Environment
  • Do not harm environment
  • Reduce the use of plastics
  • Environment, Health & Safety Policy
SOCIAL
4.Employee skills, training and development
  • 10 % increase hours of training per employee from FY2018
  • Employment Policy
  • Human Rights Policy
5.Diversity
  • 50% of managers to be trained on anti-harassment
  • Diversity Policy
6.Local Communities
  • 2 hours per employee of volunteer time every financial year.
  • CSR and Sustainability Committees