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An allegedly photoshopping image has embarrassed the Myanmar government.
The FMI leads economic research, 37% of enterprises do not yet have a website
First Myanmar Investment, City Mart Holding Co Ltd and Serge Pun & Associates have completed the latest Pwint Thit Sa Visibility Research, which also found that nearly 40 per cent of the 182 rated businesses do not have a website. Pwint Thit Sa's 4th Pwint Thit Sa poll, carried out by the Myanmar Centre for Responsible Bussiness in collaboration with Yever, a consulting firm, was published on March 26.
The current year's reporting is on the ASEAN Governance Scorecard, which is used in Malaysia, Thailand, the Philippines, Indonesia and Singapore. Top corporations for CSD, in order, with their 2016 rankings, if any, in parentheses: These are FMI (1), City Mart Holding (8), SPA (2), AYA Bank (6), Max Myanmar Group (3), Shwe Taung Group (11), Dagon Group (10), Grand Guardian Insurance, Myanmar Thilawa SEZ Holdings (18) et KBZ Group (7).
While the three leading corporations have always been among the top 10 in earlier polls, they have all made additional effort to improve disclosures for the latest survey, MCRB and Yever said in a press announcement. Myanmar Awba (ranked 11 out of 34), Myanmar Citizens Bank (ranked 18 out of 27) and First Private Bank (ranked 21 out of 50) were other firms that significantly enhanced their disclosures of information on CR in comparison to the last year.
Among the firms that declined in the ranking were Parami Energy Group (rank 14, rank 9), Smart Technical Services (rank 15, rank 4), MPRL E&P (rank 16, rank 5) and Asia World (rank 22, rank 12). The MRCB said that 67 of the 182 interviewed enterprises, or 37 per cent, had no company sites and even if they did, many of the sites had little or no information regarding the polls.
He said that of the businesses with sites, 80 out of 116, or 69 per cent, less than seven per cent, which was the overall weighted mean for the poll. "A conspicuous statistical result from this year's study is that the mean value for a firm in which the World Bank's International Finance Corporation is investing is 54 per cent, as against an annual figure of seven per cent," said Ms Vicky Bowman, MRCB's Managing director.
"This is even more transparent than the five Yangon Stock Exchange-listed corporations, which on average accounted for 38 percent," Bowman said. "This shows that good social responsibility is attracting good investor and partner for businesses. This also shows that the IFC investments and related guidelines make a genuine distinction in the way these businesses manage themselves," she said.
Yever's Mr. Nicholas Delange commended the innovations and best practices of some of the world's leaders in the area of sustainable development monitoring and report. In the press communiqué it was said that another conspicuous result was the bad publication and the lack of good company and company records of good company practices at the Directorate of Investment and Company Directors.
Most of them have not yet fulfilled the notification and publication obligations for such entities that were listed in the securities exchange rules of 2015. They scored four per cent on weighted points.