Strong corporate governance enables us to achieve our goal of growing sustainable businesses with greater confidence and efficiency.
The statement of corporate governance has been established by the Board of Directors (the “Board”) of International Group of Entrepreneur Company Limited (IGE). This is intended in conjunction with other corporate governance documents and applicable law, to be a flexible framework within which the Board may conduct its business.
IGE aspires to conduct its business in line with the leading international corporate governance practices, as we believe that good governance supports long-term value creation and is essential to the sustainability of our business and performance. We strive to adopt the leading practices in local context to determine our business processes, control and standard operating procedures.
Governance Framework comprises mechanisms of disclosure, transparency, responsibilities of the Board of Directors and Management, and the rights and equitable treatment of shareholders. For these structures and processes to be diligently implemented, we see to it that they are supported by in built mechanisms that enable employees at all levels to keep alive governance practices that ensure appropriate ethical standards and strict regulatory compliance. We see governance as a key enabler to help us become a trusted provider of our customers’ requirements, an attractive investment proposition for our investors, a valuable business partner for the local and regional business community; a judicious supporter of Myanmar’s governments’ development goals and a significant contributor to improving people’s lives.
At IGE Group, we are committed to good corporate governance. We have put in place a sound board charter and continue to invest in upholding accountability in the areas of board management, risk governance and sustainability matters.
In 2016, IGE Group engaged PwC Myanmar to kickstart its corporate governance journey and strengthen our corporate governance processes & structure.
In the same year, IGE Group also engaged Roland Berger, a German global strategy consulting firm, to restructure its businesses and organisation design with the aim of reviving its business strategies. This process bolstered IGE’s corporate governance through the establishment of different board of directors for each business entity for stronger governance and greater accountability.
PwC Myanmar subsequently updated IGE Group's overall governance structure and established new compositions of IGE Group’s boards of directors as the second phase the project in 2018. This included the establishment of clear roles, responsibility and performance indicators for management accountability.
VDB Loi, a leading law firm in Myanmar, was also appointed to establish sound legal frameworks for IGE Group’s new compositions and corporate structure in accordance with the requirements of new Myanmar Companies Law.