IFC to invest $10m as convertible debt to fuel Myanma Awba’s expansion

Visual from IFC website.

International Finance Corporation, the private lending arm of the World Bank, is proposing to extend a financing facility of $10-million, with a provision of converting the loan into equity, to Myanma Awba Group, an agriculture-based business in Myanmar.

The group is into manufacturing of agri inputs such as fertilisers and seeds and is also engaged in microfinance operations.

The IFC loan will fire the company’s $25-million project that involves setting up a new agro-chemicals formulation plant. The funds will also be used for boosting packaging and warehouse capacity, seed production, working capital and for its microfinance operations, according to a disclosure by IFC.

The new formulation plant as well as investments in equipment, machinery and most of the additional warehouse capacity will be located in Yangon’s industrial zones. New fertilizer distribution stations, other warehouses and microfinance branches will be located across Myanmar.

Myanma Awba, set up in 1995, is headed by Thadoe Hein, managing director, who together with his family own the group.

IFC is also engaged with the group’s MFI operations in a strategic advisory capacity.  As part of the advisory service, IFC will provide  corporate governance assessment and help with drafting and implementing relevant policies and related training.

IFC has been active in pumping funds in Myanmar corporations both through debt and equity investments. Some of its recent proposals include a $200-million financing for Myanmar Industrial Port modernisation, a $25-million funding in retail group City Mart and $40 million finance for a gas turbine project by Sembcorp and MMID.

Also Read: 

Asia-focussed payments firm 2C2P teams up with Myanma Awaba for new service

IFC to extend $200m financing for Myanmar Industrial Port modernisation

IFC to provide $25m funding for Myanmar’s largest retail group City Mart

IFC to provide $40m finance for Myanmar-based gas turbine project by Sembcorp, MMID

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.