Established in 1992, Myanmar-based Asia World Company Ltd ("AWC") is a leading diversified group with its core business in the infrastructure sector. Over the last two decades, the Group has built up an established track record in operational excellence and in undertaking and completing numerous iconic and critical infrastructure development projects throughout Myanmar. These include roads and highways, airports, seaports, power plants and telecommunication towers.
Many of AWC's projects have pioneered the standards of safety and advancement of the infrastructure sector in Myanmar and made lasting contributions to the country and its people. AWC currently employs around 6,800 employees across its various businesses, and spearheads training programmes as well as transfer of knowledge within the Group by working with international consultants.
AWC's infrastructure subsidiaries not only build but also manage prominent infrastructures such as Yangon International Airport, Nay Pyi Daw International Airport and Asia World Port Terminal. The airports cater to international airlines and receive millions of passengers annually, while Asia World Port Terminal handles a substantial portion of Myanmar's container export and import. AWC's infrastructures welcome visitors and cargoes from all around the world which supports the economic growth of Myanmar and create new business and employment opportunities.
AWC's hydro power plant project generates much-needed electricity for tens of thousands of households, improving the well-being and development of the people of Myanmar where, according an Asian Development Bank estimate, less than a third of rural households are connected to the national grid.
AWC has recently completed the first phase of the of the Yangon International Airport with the opening of its new Terminal 1 in March 2016, where it continues to build on its strong experience in airport construction of more than a decade. With air traffic in Myanmar surging, the new airport expansion project will support transportation and commerce into the country.
In line with AWC's commitment to be a responsible business and make positive contributions to the community, it has always actively engaged the Myanmar community through disaster relief and educational programs. To establish a consistent approach in its charitable contributions and sustainability initiatives such as educational, health and social programs, Asia World Foundation was set up in 2014 to further foster societal stewardship and improve the quality of life of the Myanmar community.
AWC is committed to a global standard of transparency and corporate governance in the Group's business operations. The Group continues to conduct its business with integrity and accountability, and with consideration towards long-term sustainability. As such, AWC seeks to operate adhering to international codes of conduct and best business practices.
AWC is undergoing an audit of its business activities to assist with its corporate restructuring. This is to ensure that AWC's anti-corruption, transparency and other corporate social responsibility (CSR) programs adopted are properly implemented and administered.
Training, including classroom-based learning, will be conducted by professional independent parties to ensure all AWC employees, from rank and file staff and managers to directors and Board members are compliant with the procedures and policies.
These compliance programs have been distributed to AWC's staff and made publicly available on the Group's website. The website will also provide the public with business updates on the operations of AWC and its subsidiaries as well as a message from the Chairman outlining his thoughts, plans and motivations.