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 and a half 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, ports, 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 Taw International Airport and Asia World Port Terminal. Both airports receive millions of passengers annually, particularly, with the opening of Yangon International Airport’s (YIA) international terminal, Terminal 1 in March 2016 and its domestic terminal, Terminal 3 in December 2016. With these new terminals, YIA is built to handle up to 20 million passengers. In November 2017, YIA welcomed its 5th million visitor to Myanmar, a whopping 151% jump from 1.99 million visitors just back in 2010.
The Group continues to build on its strong experience in airport construction of more than a decade, and with air traffic in Myanmar the rise, YIA will support transportation and commerce into the country.
Today, 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 creates new business and employment opportunities.
AWC's hydro power plant Thaukyegat (2) Hydropower 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.
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 meaningful community 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.
Commitment to Corporate Governance
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.
In 2015, AWC underwent an audit of its business activities in line with its corporate restructuring. This ensures that AWC's anti-corruption, transparency and other corporate social responsibility (CSR) programs adopted are properly implemented and administered.
Training, including classroom-based learning, aree 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 also provides the public with business updates on the operations of AWC and its subsidiaries as well as an annual message from the Chairman outlining his thoughts, plans and motivations.