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Business strategy

Our Strategy team can help you meet your growth ambitions in Myanmar. This includes helping you in (a) evaluating your strategic direction, identifying growth opportunities and prioritsing strategic initiatives and (b) developing a business plan to execute your growth strategy.

Credentials
  • Growth strategy for a leading consumer goods company in Myanmar, in support of its partnerships with a leading Japanese multinational
  • Growth strategy and business planning for the Myanmar subsidiary of a leading Asian conglomerate in the construction materials industry

How PwC can help

Growth Strategy

  • Assess the market and competitive environment to identify growth opportunities for your business (products/geographies/customers)
  • Formulate a roadmap to achieve your ambitions

Business Planning

  • Facilitate your preparation of a Business Plan to deliver on your strategy
  • Help identify the key initiatives needed (e.g. aligning organisation, supply chain, cost base, channel mix, distribution, marketing)
  • Depending on your needs, this can help:
    • Support capital raising
    • Find and negotiate with strategic partners
    • Develop an IPO roadmap

Case study

Background

Our client, a Yangon-based automotive company, was looking to grow in the new market of car servicing

Outcome

  • Studied the existing demand and supply of automotive servicing in Myanmar
  • Produced a Business Plan, including outline of the organisation structure and profit potential of this growth venture
  • Produced a document to communicate this, which was subsequently used in meetings with potential partners
  • As an outcome, the client entered into a JV with a leading global auto supplier

To find out more, you can speak to

Oliver Wilkinson

Director

+65 9232 3478

Mergers and Acquisitions - Financial advisor

We can deliver the knowledge you need to buy, sell or restructure your business. This include (a) helping foreign investors identify potential investment targets for acquisition, (b) assisting local businesses identify potential partners or buyers for its business.

Credentials
  • Induction of strategic partner through sale of a 50% stake in a leading alcoholic beverage company in Myanmar)
  • Partnership search for a global F&B player looking for a distributor in Myanmar
  • Target search for a leading regional engineering consultancy
  • Numerous deals in Southeast Asia on both buy and sell side

How PwC can help

Lead Financial Advisor to buy or sell side: advising investors/sellers on the transaction from initial approach to completion :

  • Discuss acquisition /divestment criteria
  • Develop universe of buyers/acquisition targets. Identify relevant players based on agreed criteria (e.g. size, segment of the value chain, etc.) . Prioritise and evaluate targets/buyers . Recommend and profile in detail a shortlist of potential targets / buyers to approach
  • Establish deal intent with the target(s) / buyer(s)
  • Advise on deal pricing
  • Advise on negotiations with the target(s) / buyer(s) on transaction terms
  • Advise on potential deal structures
  • Project manage the overall transaction process

Case study

Background

PwC Corporate Finance acted as the exclusive sell-side advisor to the Singapore-based shareholder of a Myanmar F&B company.

A U.S. headquartered global Private Equity firm acquired 100% of the Singapore company, which holds a 50% stake in the Myanmar company.

Outcome

  • Identified a strategic partner to take the Myanmar company to the next level
    • regional distribution and extension of existing brands
    • expansion of product category offerings in Myanmar

To find out more, you can speak to

Vishal V Thapliyal

Partner

+65 9007 7041

Capital raising

We advise businesses on your capital requirements, structure solutions to address your capital needs, and raise debt or structured capital from various capital providers (including, banks and private funds). For clients looking to raise capital from an overseas stock markets (eg Singapore), we can also advice on initial public offering (IPO) or a Reverse Takeover (RTO).

Credentials
  • Raised capital for several companies across Southeast Asia for different purposes: growth, expansion into new markets, strategic investors, and acquisition of new businesses

How PwC can help

Lead Financial Advisor in capital raising (growth, expansion and IPO/RTO)

  • Assess your company’s current capital structure and future capital needs
  • Identify and evaluate capital options available including private equity placements, bank debt , hybrid/structured finance products and pre IPO funding
  • Identify the appropriate financiers / investors to address specific corporate objectives (growth, new market entry, regional expansion) and/or shareholder requirements (dividends, foreign investment, and strategic partnerships)
  • Advise on negotiations with financiers/investors
  • Project manage the overall transaction process

Case study

Background

A Myanmar based company wanted to raise debt financing in order to fund its growth locally

Outcome

  • Introduced the company’s management to banks and international financiers
  • Negotiated financing terms for the company

To find out more, you can speak to

Vishal V Thapliyal

Partner

+65 9007 7041

Buy-side due diligence

We can provide you with a full range of due diligence services to assist you in your investment evaluation and successful completion of the transaction.

Credentials
  • Buy-side commercial, financial, tax, IT and operational due diligence for a international F&B group on its acquisition of a FMCG target in Myanmar
  • Buy-side financial, tax and HR due diligence for a consortium investors in the TMT sector, followed by Completion procedures

How PwC can help

Due Diligence - pre-deal buy-side

  • Financial and Tax Due Diligence
  • Commercial Due Diligence
  • Operational Due Diligence
  • IT Due Diligence
  • Human Resources Due Diligence

Sale and Purchase Agreement - advice on financial matters, warranties and completion procedures

Completion Review – review of completion accounts and due diligence on completion adjustments

Valuation and Negotiation Support – advise buyers on the value of the targets in the absence of a financial advisor, support buyers in negotiating pricing and other transaction terms


Case study

Background of a buy side mandate

We supported an international beverage company to break into the Carbonated Soft Drinks (“CSD”) market in Myanmar.

Outcome

  • Performed commercial due diligence and provided insights to the investor on the competitive landscape as well as an analysis of the Target’s distribution network
  • Performed financial, tax and IT due diligence on the Myanmar Target and assisted the investor on its evaluation of the transaction, leading to a successfully completed transaction.

To find out more, you can speak to

Jovi Seet

Senior Executive Director, PwC Myanmar

+95 1378661
+959 450044355

Post-deal integration

During the post deal stage we help our clients maximise the value of their transactions by assisting with the Day 1 preparation, taking control and post deal integration planning and execution.

Credentials
  • Enhance operation efficiency of a partnership in Myanmar for an international conglomerate.

How PwC can help

Develop and implement Day One readiness plan

  • PMO establishment
  • “Day 1 non-negotiables” identification; development & implementation of solutions to fill the “Day 1 non-negotiable” gaps
  • TSA services scope, terms & conditions validation/review
  • 100 Days Plan development
  • Communication plan development

Execute 100 Day plan

  • Deliver tactical integration projects and quick-wins
  • Financial control and reporting structures establishment
  • Treasury function enhancement to ensure cash flow visibility
  • Projects implementation to improve IT, HR and supply chain effectiveness

Case study

Background

Our client, an international conglomerate was entering into a contractual partnership with a leading Myanmar state-owned corporate. We advised the client on how to:

  • Establish control on the cash management process
  • Address key Day 1 accrual accounting issues
  • Enable partners to perform accrual accounting for key revenue & expenses

Outcome

  • New “to-be” process for cash in-flows, cash out-flows
  • New processes/information required to address the key Day 1 accrual adjustments
  • Set of management reports for reporting as well as tracking the relevant KPI’s

To find out more, you can speak to

Tze Wee, Wee

Partner

+65 6236 7628

Joint venture & strategic alliance

We can help you assess the feasibility of your proposed partnership structure and provide overall establishment support.

Credentials
  • Local partner identification, background checks and project management support on a joint venture (“JV”) investment in the automotive sector in Myanmar
  • Structuring advice and negotiation support on a JV investment in the oil and gas services sector in Myanmar.
  • JV establishment support on the set up of a business in the building materials sector in Myanmar.

How PwC can help

Partnership establishment support

  • Project management support: Manage overall process, timeline and communication with stakeholders
  • Negotiation support: Highlight considerations on the partnership structure, evaluate options and facilitate negotiations with business partners
  • Partner identification and background checks: Identify local partner based on investors’ criteria, perform background checks on local business partners and carry out site visits of their operations
  • Tax advisory, MIC application and set up: Advise on tax structuring matters, provide MIC application support, set up and implementation of the agreed partnership structure

Case study

Background

Provided joint venture establishment support on the set up of a beverage manufacturing and distribution business in Myanmar.

Outcome

  • Performed market study which found potential in this segment
  • Foreign corporate investor decided to enter the market with its local business partner subsequent to a due diligence exercise
  • Advised on the JV arrangements and structuring considerations
  • Provided implementation support for the Joint Venture

To find out more, you can speak to

Jovi Seet

Senior Executive Director, PwC Myanmar

+95 1378661
+959 450044355

Market entry advisory & market studies

We help investors understand market conditions and opportunities in Myanmar, advising you on the most viable form of entry into the market.

Credentials
  • Market research for a Chinese Oil & Gas corporation on the Oil & gas downstream operations in Myanmar
  • Feasibility studies on social infrastructure for a Japanese insurance company with its potential investment in Myanmar

How PwC can help

Market research and analysis

  • Identify key market segments and understand market dynamics
  • Estimate market size and growth
  • Assess general attractiveness and competitiveness of market
  • Understand key success factors of main market players

Market entry strategy

  • This market research generates insights to support your market entry strategy. For example, we can help identify the best opportunity for organic entry, acquisitions, JVs or other partnerships
  • Advise on foreign ownership restrictions

Case study

Background

Our client, a Japanese corporation, was looking to enter the steel distribution and processing market in Myanmar.

Outcome

  • Deep understanding the existing steel market in Myanmar via insights obtained in our interview programme of >50 experts
  • Discovered that demand for steel is strong and will continue to grow, and identified the most attractive parts of the value chain for our client
  • Proposed business plan for client to execute, with robust milestones to help achieve this

To find out more, you can speak to

Oliver Wilkinson

Director

+65 9232 3478

Direct and indirect taxation services

We are able to advise and assist you on tax matters that may arise throughout your journey in Myanmar

Credentials
  • Advised clients on tax structuring and market entry decision making framework, investment climate, and efficient structure for investment into Myanmar.
  • On going tax advisory and support (including lobbying initiatives for clients and industry groups) for numerous client across various industries, including telecommunication, oil and gas, power, real estates and financial services
  • Supported the clients on corresponding with the Myanmar tax authorities in relation to tax disputes

How PwC can help

  • Local and International Tax Structuring - for both inbound and outbound investments
  • Tax compliance - covering direct (corporate and personal income tax, capital gains tax, withholding tax) and indirect taxes (commercial tax, special goods tax , stamp duty etc.)
  • Direct tax and indirect tax advice - including commercial tax, customs duty, stamp duty, special goods tax and specialist topics such as transfer pricing and the taxation of oil and gas projects
  • Application for tax incentives, tax treaty benefits & exemptions
  • Assistance in tax dispute resolutions

Case study

Background

Lobbying the Myanmar tax authorities on withholding tax, commercial tax and stamp duty issues affecting key sectors in Myanmar

Outcome

  • Meetings and liaison with the Myanmar tax authorities including the Director General and several key departments within the Myanmar Government to discuss and debate the issue s
  • The work included technical discussions including presenting case studies on the tax treatment in other countries to support the intended outcome

To find out more, you can speak to

Paul Cornelius

Partner

+65 91730082

Financial reporting

In today's global business environment, investors expect greater reliability and more oversight over financial reporting.

We can help you develop and supplement your company’s finance function and address your International Financial Reporting Standards (IFRS) needs.

Credentials
  • IFRS reporting for Myanmar branch offices and subsidiaries of regional and global MNCs
  • Conducted comprehensive accounting workshops for more than 40 staff of a Myanmar organisation over a 3-month period to facilitate their learning

How PwC can help

Financial reporting related services

  • Assurance services for IFRS financial reports for purpose of Group reporting or overseas investors
  • IFRS implementation and accounting advice
  • Carve-out / spin-off financial statement prepared in accordance with IFRS
  • IFRS workshops and training

Case study

Background

A local major transport and logistic player was seeking external funding from potential foreign investors and had to fulfill several preconditions to obtain the funding.

Outcome

  • Supported management closely through its first IFRS accounts preparation process - a "hands-on" approach
  • Acted as trusted business adviser and helped client to bridge the knowledge gap in IFRS reporting
  • Enhanced financial reporting policies and procedures with best practice recommendations and identification of gaps

To find out more, you can speak to

Belinda Neo

Associate Director

+95 9963 575535

Valuations advisory

We help you understand and maximise the value of your business, shares or assets in the context of your M&A transactions, disputes, strategic decision making, tax planning or group restructure.

Credentials
  • We helped a major supermarket retail chain in Myanmar successfully obtain funding for the expansion of the business
  • We assisted a leading healthcare diagnostic business to understand the value of their business to pursue strategic and divestment opportunities

How PwC can help

Business Valuation - valuing of business as a going concern for the purposes of

  • merger , acquisition or sale of a business
  • restructuring of your business
  • joint venture
  • evaluating the pricing offered by underwriters in an Initial Public Offering

Valuation Advice in Dispute Resolution - advise you and/or act as expert witness in court or arbitration process in a dispute


Case study

Background

Our client, a leading Myanmar retail conglomerate, approached PwC to help understand the value of their business to raise debt and equity from an international finance organization.

Outcome

  • Understood the key value drivers of the business and incorporated that into the valuation exercise.
  • The client successfully raised funds at favourable terms in order to expand the business.

To find out more, you can speak to

Janeshwar Pachigolla

Associate Director

+95 9254002564
+95 9979882778

Project assurance

IT and Infrastructure Projects are often difficult to project manage successfully. The risk is that the benefits from investments in new infrastructure and systems will not be fully realized. Through proactive independent project assurance we help ensure projects stay on track and achieve the intended results.

Credentials
  • Full scale ERP and other systems implementation support for MNC’s and local companies in Myanmar
  • Project Support for capital expenditure and infrastructure projects in Myanmar

How PwC can help

Our Project Assurance Solutions

We help you to address your most pressing challenges arising during the entire lifecycle of the project.

  • Feasibility studies
  • Procurement assurance and RFP development
  • Vendor evaluation criteria development
  • Project governance support
  • Review of business blueprints including master data
  • Review of test strategy, cut-over and data migration plan
  • Organization change readiness support including trainings to end users
  • Post implementation support

Case study

Background

A large MNC requested PwC to support a highly complex end to end ERP rollout across all the states and regions of Myanmar.

Outcome

  • Client achieved a successful ERP launch by meeting all the critical milestones in a timely manner from RFP to go-live.
  • Client achieved the objective of automating their key processes with reliable accounting & taxation; and optimum controls in place
  • Robust master data catering to future business, statutory, tax & regulatory requirements
  • Multiple trainings conducted in Myanmar & English luggage for 500 plus users

To find out more, you can speak to

Rashmi Thakur

Director

+95 92 6169 3011

Governance and controls

We provide comprehensive Governance and Control related services to help manage your risks while meeting your strategic objectives

Credentials
  • Established Comprehensive Governance Frameworks and risk registers for a leading Myanmar Conglomerate
  • Reviewed and enhanced Internal Controls for a leading Myanmar Construction Company
  • Internal audit
  • Establishment of policy process and control implementation for MNC’s and local conglomerates

How PwC can help

Corporate Governance Advisory

  • “Healthcheck” reviews and gap analysis
  • Corporate Governance framework development and enhancement

Controls and Performance Improvement

  • Design and implement processes and controls for accounting, treasury and procurement functions
  • Review accounting and other business processes and provide recommendations
  • Risk assessment, develop risk assessment framework and registers
  • Establish your Internal Audit function, develop Internal Audit plans and programs

Case study

Background

Our client, a leading Myanmar Conglomerate requested PwC to help establish a comprehensive Corporate Governance framework including the Enterprise Risk Function.

Outcome

  • Conducted a diagnostic study within three weeks and presented a gap analysis for the Board
  • Helped the client to develop an implementation roadmap based on their priorities
  • Developed the Board Committee Charters, Code of Ethics and enhanced existing policies
  • Assisted to develop the risk registers and risk framework
  • Ongoing training and support to the Board and Management

To find out more, you can speak to

Greg Unsworth

Risk Assurance Leader & Partner

+65 98486025
+95 99610 49664

IT Risk and security

Technology-led innovation has enabled business models to evolve. Organisations are operating in a digitally interconnected and integrated environment and more and more companies in Myanmar are introducing financial systems for the first time.

In adopting technology solutions, organisations make themselves vulnerable to IT risks and cybersecurity threats.

PwC helps organisations:

  • Understand dynamic IT challenges
  • Adapt and respond to risks inherent to the business ecosystem
  • Prioritise and protect the most valuable assets fundamental to the business strategy
Credentials
  • PwC is a ‘leader’ ranking by Forrester Research.
  • PwC has strong local delivery capabilities supported by regional and global teams

How PwC can help

Our IT Risk and Security Solutions

Our services include

  • IT readiness assessments
  • Vendor selection
  • Security Strategy, Governance and Architecture
  • Security in New Technology Adoption – Mobile and Cloud
  • Vulnerability Management and Threat Intelligence
  • Identity & Access Management
  • Risk & Compliance Management
  • IT Governance Frameworks

Case study

Background

A client requested PwC to provide advice on IT security for their systems to assess the compliance to international standards and IT-related regulations and, to review the  IT security governance, strategy and architecture.

Outcome

  • The results helped the client to establish its IT security strategy with a robust framework
  • Created visibility for management on the current state of IT against regulations and recognised IT standards.
  • Assisted management to implement policies to improve the IT Security Governance.
  • Shaped the company's future IT architecture along with suggested solutions and vendors.

To find out more, you can speak to

Hugo Fournier

IT Risk and Security, Services

+65 9145 4896

Incorporation and corporate secretarial services

We provide a one stop solution for all corporate services and compliance needs that will help you to achieve your business goals in Myanmar.

Credentials
  • Assisted our clients in the entities set up and the applications in investment permits.
  • Assisted the largest foreign investors on the personal income tax compliance, payroll set up and monthly processing, monthly tax reporting assistance as well as immigration matters.

How PwC can help

  • Company set up, covering arranging and facilitating meetings with relevant government bodies, application for permits and licenses from relevant authorities including DICA, MIC and SEZ Committee
  • Record keeping and reporting of financial data
  • Payroll set-up, monthly payroll administration, monthly payroll filing to Ministry of Manpower Office, monthly and year end employer tax and social security reporting
  • HR advisory services and recruitment Services* for Finance Professionals
  • Company secretarial compliance, including providing a registered office and set-up of bank accounts
  • Stay permits and business visa processing
  • On boarding services

*To be undertaken in Singapore


To find out more, you can speak to

Jasmine Thazin Aung

Director

+ 959 450023688

Business strategy

Our Strategy team can help you meet your growth ambitions in Myanmar. This includes helping you in (a) evaluating your strategic direction, identifying growth opportunities and prioritsing strategic initiatives and (b) developing a business plan to execute your growth strategy.

Credentials
  • Growth strategy for a leading consumer goods company in Myanmar, in support of its partnerships with a leading Japanese multinational
  • Growth strategy and business planning for the Myanmar subsidiary of a leading Asian conglomerate in the construction materials industry

How PwC can help

Growth Strategy

  • Assess the market and competitive environment to identify growth opportunities for your business (products/geographies/customers)
  • Formulate a roadmap to achieve your ambitions

Business Planning

  • Facilitate your preparation of a Business Plan to deliver on your strategy
  • Help identify the key initiatives needed (e.g. aligning organisation, supply chain, cost base, channel mix, distribution, marketing)
  • Depending on your needs, this can help:
    • Support capital raising
    • Find and negotiate with strategic partners
    • Develop an IPO roadmap

Case study

Background

Our client, a Yangon-based automotive company, was looking to grow in the new market of car servicing

Outcome

  • Studied the existing demand and supply of automotive servicing in Myanmar
  • Produced a Business Plan, including outline of the organisation structure and profit potential of this growth venture
  • Produced a document to communicate this, which was subsequently used in meetings with potential partners
  • As an outcome, the client entered into a JV with a leading global auto supplier

To find out more, you can speak to

Oliver Wilkinson

Director

+65 9232 3478

Mergers and Acquisitions - Financial advisor

We can deliver the knowledge you need to buy, sell or restructure your business. This include (a) helping foreign investors identify potential investment targets for acquisition, (b) assisting local businesses identify potential partners or buyers for its business.

Credentials
  • Induction of strategic partner through sale of a 50% stake in a leading alcoholic beverage company in Myanmar)
  • Partnership search for a global F&B player looking for a distributor in Myanmar
  • Target search for a leading regional engineering consultancy
  • Numerous deals in Southeast Asia on both buy and sell side

How PwC can help

Lead Financial Advisor to buy or sell side: advising investors/sellers on the transaction from initial approach to completion :

  • Discuss acquisition /divestment criteria
  • Develop universe of buyers/acquisition targets. Identify relevant players based on agreed criteria (e.g. size, segment of the value chain, etc.) . Prioritise and evaluate targets/buyers . Recommend and profile in detail a shortlist of potential targets / buyers to approach
  • Establish deal intent with the target(s) / buyer(s)
  • Advise on deal pricing
  • Advise on negotiations with the target(s) / buyer(s) on transaction terms
  • Advise on potential deal structures
  • Project manage the overall transaction process

Case study

Background

PwC Corporate Finance acted as the exclusive sell-side advisor to the Singapore-based shareholder of a Myanmar F&B company.

A U.S. headquartered global Private Equity firm acquired 100% of the Singapore company, which holds a 50% stake in the Myanmar company.

Outcome

  • Identified a strategic partner to take the Myanmar company to the next level
    • regional distribution and extension of existing brands
    • expansion of product category offerings in Myanmar

To find out more, you can speak to

Vishal V Thapliyal

Partner

+65 9007 7041

Capital raising

We advise businesses on your capital requirements, structure solutions to address your capital needs, and raise debt or structured capital from various capital providers (including, banks and private funds). For clients looking to raise capital from an overseas stock markets (eg Singapore), we can also advice on initial public offering (IPO) or a Reverse Takeover (RTO).

Credentials
  • Raised capital for several companies across Southeast Asia for different purposes: growth, expansion into new markets, strategic investors, and acquisition of new businesses

How PwC can help

Lead Financial Advisor in capital raising (growth, expansion and IPO/RTO)

  • Assess your company’s current capital structure and future capital needs
  • Identify and evaluate capital options available including private equity placements, bank debt , hybrid/structured finance products and pre IPO funding
  • Identify the appropriate financiers / investors to address specific corporate objectives (growth, new market entry, regional expansion) and/or shareholder requirements (dividends, foreign investment, and strategic partnerships)
  • Advise on negotiations with financiers/investors
  • Project manage the overall transaction process

Case study

Background

A Myanmar based company wanted to raise debt financing in order to fund its growth locally

Outcome

  • Introduced the company’s management to banks and international financiers
  • Negotiated financing terms for the company

To find out more, you can speak to

Vishal V Thapliyal

Partner

+65 9007 7041

Stock Market listing preparation

Clients looking to raise capital from an overseas stock markets (eg Singapore) through an initial public offering (IPO) or a Reverse Takeover (RTO) we can advise you on the process and assist you in your preparation in order to maximise value.

Credentials
  • One of the leading firms assisting clients prepare for cross-border IPOs (HK, Singapore, UK or US stock exchanges)

How PwC can help

Listing Preparation

  • Assess your company’s readiness for capital raising, including an overseas IPO or RTO
  • Advise on restructuring and re-organising, as required for purposes of capital raising
  • With respect to preparing your company for an IPO/RTO :
    • Assess and assist in restructuring the finance function to meet the post listing Continuing Listing reporting requirements
    • Assess and advice on internal control and corporate governance, and suggest changes to meet listing requirements
    • Advise on historical financials and assist in developing forecasts
    • Facilitate strategic business planning

Case study

Background

A Myanmar based company, preparing for an overseas listing, wanted a structured approach to implement control policies for its finance and other key operations

Outcome

  • Performed a gap analysis on key finance and operational controls, and then recommended controls to implement
  • Assisted in forming control policies to provide a structured approach to implementation

To find out more, you can speak to

Vishal V Thapliyal

Partner

+65 9007 7041

Mergers and Acquisition – Sellside transaction support

We assist sellers prepare for the buyer’s due diligence and completion review to ensure that your value is not compromised by the quality of your financials. For sellers who do not wish to engage a Financial Advisor, we can also advise on valuation and provide general negotiation support.

Credentials
  • Vendor assistance, valuation and negotiation support for a Myanmar healthcare company
  • Vendor due diligence and structuring advice for a Myanmar beverage company
  • M&A valuation support and IFRS special purpose audit on a retail & consumer Myanmar target arising from a transaction

How PwC can help

Vendor Assistance - help sellers prepare and manage the due diligence and completion process including preparation of Information Memorandum, preparation of information for due diligence, dataroom set up and management, completion accounts preparation

Valuation and Negotiation Support – advise sellers on the value of their businesses and their value drivers, support sellers in negotiating pricing and other transaction terms

Sell-side Due Diligence - Due Diligence to help seller understand issues from a buyer’s perspective. The report will not be shared with the buyers

Vendor Due Diligence - Due Diligence commissioned by seller to be shared with buyers. This could cover financial, tax, commercial, operational, IT and HR. VDD is helps speed up the due diligence process and allow seller better control of commercially sensitive or confidential information.


Case study

Background of a sell-side mandate

We were engaged to work on a vendor due diligence engagement for a shareholder of the leading beverage business in Myanmar to facilitate a bidding process where multiple potential investors are keen to invest into this business.

Outcome

  • Carried out vendor financial and tax due diligence work and came up with a VDD report within a tight timeframe to facilitate the bidding process
  • Provided insightful analysis to potential investors, facilitate the investment evaluation process, leading to a successfully completed transaction of more than USD200mil

To find out more, you can speak to

Jovi Seet

Senior Executive Director, PwC Myanmar

+95 1378661
+959 450044355

Buy-side due diligence

We can provide you with a full range of due diligence services to assist you in your investment evaluation and successful completion of the transaction.

Credentials
  • Buy-side commercial, financial, tax, IT and operational due diligence for a international F&B group on its acquisition of a FMCG target in Myanmar
  • Buy-side financial, tax and HR due diligence for a consortium investors in the TMT sector, followed by Completion procedures

How PwC can help

Due Diligence - pre-deal buy-side

  • Financial and Tax Due Diligence
  • Commercial Due Diligence
  • Operational Due Diligence
  • IT Due Diligence
  • Human Resources Due Diligence

Sale and Purchase Agreement - advice on financial matters, warranties and completion procedures

Completion Review – review of completion accounts and due diligence on completion adjustments

Valuation and Negotiation Support – advise buyers on the value of the targets in the absence of a financial advisor, support buyers in negotiating pricing and other transaction terms


Case study

Background of a buy side mandate

We supported an international beverage company to break into the Carbonated Soft Drinks (“CSD”) market in Myanmar.

Outcome

  • Performed commercial due diligence and provided insights to the investor on the competitive landscape as well as an analysis of the Target’s distribution network
  • Performed financial, tax and IT due diligence on the Myanmar Target and assisted the investor on its evaluation of the transaction, leading to a successfully completed transaction.

To find out more, you can speak to

Jovi Seet

Senior Executive Director, PwC Myanmar

+95 1378661
+959 450044355

Pre-deal re-organisation

Prior to commencement of an M&A , we help our clients re-organise their businesses to achieve greater operational efficiency and market focus to improve their inherent value, and also streamline internal processes and management information to facilitate introduction of a new investor.

Credentials
  • Organisational structure efficiency and control review for Myanmar industrial goods company
  • New management reporting framework for the group level and 2 business units for the major Myanmar conglomerate.

How PwC can help

Operational structure and legal entity review

  • Propose operational efficiency improvements to the organisation structure
  • Review the operational implications of the proposed deal structure

Financial & management reporting review

  • Tailor a practical management reporting framework to meet your business requirements.
  • Design an efficient cash management/planning function to better manage cash flow and working capital requirements
  • Review the key areas of your IT / reporting system to be redesigned

Case study

Background

Our client, a Myanmar conglomerate wanted to identify opportunities to increase organisational effectiveness and control as well as to implement a new reporting framework for the group and 2 key businesses.

Outcome

  • New functional organisation structure design to assist the board with functions oversight
  • “To-be” management reporting framework in support of producing new management reports
  • “To-be” management reporting process and structure

To find out more, you can speak to

Tze Wee, Wee

Partner

+65 6236 7628

Post-deal integration

During the post deal stage we help our clients maximise the value of their transactions by assisting with the Day 1 preparation, taking control and post deal integration planning and execution.

Credentials
  • Enhance operation efficiency of a partnership in Myanmar for an international conglomerate.

How PwC can help

Develop and implement Day One readiness plan

  • PMO establishment
  • “Day 1 non-negotiables” identification; development & implementation of solutions to fill the “Day 1 non-negotiable” gaps
  • TSA services scope, terms & conditions validation/review
  • 100 Days Plan development
  • Communication plan development

Execute 100 Day plan

  • Deliver tactical integration projects and quick-wins
  • Financial control and reporting structures establishment
  • Treasury function enhancement to ensure cash flow visibility
  • Projects implementation to improve IT, HR and supply chain effectiveness

Case study

Background

Our client, an international conglomerate was entering into a contractual partnership with a leading Myanmar state-owned corporate. We advised the client on how to:

  • Establish control on the cash management process
  • Address key Day 1 accrual accounting issues
  • Enable partners to perform accrual accounting for key revenue & expenses

Outcome

  • New “to-be” process for cash in-flows, cash out-flows
  • New processes/information required to address the key Day 1 accrual adjustments
  • Set of management reports for reporting as well as tracking the relevant KPI’s

To find out more, you can speak to

Tze Wee, Wee

Partner

+65 6236 7628

Joint venture & strategic alliance

We can help you assess the feasibility of your proposed partnership structure and provide overall establishment support.

Credentials
  • Local partner identification, background checks and project management support on a joint venture (“JV”) investment in the automotive sector in Myanmar
  • Structuring advice and negotiation support on a JV investment in the oil and gas services sector in Myanmar.
  • JV establishment support on the set up of a business in the building materials sector in Myanmar.

How PwC can help

Partnership establishment support

  • Project management support: Manage overall process, timeline and communication with stakeholders
  • Negotiation support: Highlight considerations on the partnership structure, evaluate options and facilitate negotiations with business partners
  • Partner identification and background checks: Identify local partner based on investors’ criteria, perform background checks on local business partners and carry out site visits of their operations
  • Tax advisory, MIC application and set up: Advise on tax structuring matters, provide MIC application support, set up and implementation of the agreed partnership structure

Case study

Background

Provided joint venture establishment support on the set up of a beverage manufacturing and distribution business in Myanmar.

Outcome

  • Performed market study which found potential in this segment
  • Foreign corporate investor decided to enter the market with its local business partner subsequent to a due diligence exercise
  • Advised on the JV arrangements and structuring considerations
  • Provided implementation support for the Joint Venture

To find out more, you can speak to

Jovi Seet

Senior Executive Director, PwC Myanmar

+95 1378661
+959 450044355

Market entry advisory & market studies

We help investors understand market conditions and opportunities in Myanmar, advising you on the most viable form of entry into the market.

Credentials
  • Market research for a Chinese Oil & Gas corporation on the Oil & gas downstream operations in Myanmar
  • Feasibility studies on social infrastructure for a Japanese insurance company with its potential investment in Myanmar

How PwC can help

Market research and analysis

  • Identify key market segments and understand market dynamics
  • Estimate market size and growth
  • Assess general attractiveness and competitiveness of market
  • Understand key success factors of main market players

Market entry strategy

  • This market research generates insights to support your market entry strategy. For example, we can help identify the best opportunity for organic entry, acquisitions, JVs or other partnerships
  • Advise on foreign ownership restrictions

Case study

Background

Our client, a Japanese corporation, was looking to enter the steel distribution and processing market in Myanmar.

Outcome

  • Deep understanding the existing steel market in Myanmar via insights obtained in our interview programme of >50 experts
  • Discovered that demand for steel is strong and will continue to grow, and identified the most attractive parts of the value chain for our client
  • Proposed business plan for client to execute, with robust milestones to help achieve this

To find out more, you can speak to

Oliver Wilkinson

Director

+65 9232 3478

Direct and indirect taxation services

We are able to advise and assist you on tax matters that may arise throughout your journey in Myanmar

Credentials
  • Advised clients on tax structuring and market entry decision making framework, investment climate, and efficient structure for investment into Myanmar.
  • On going tax advisory and support (including lobbying initiatives for clients and industry groups) for numerous client across various industries, including telecommunication, oil and gas, power, real estates and financial services
  • Supported the clients on corresponding with the Myanmar tax authorities in relation to tax disputes

How PwC can help

  • Local and International Tax Structuring - for both inbound and outbound investments
  • Tax compliance - covering direct (corporate and personal income tax, capital gains tax, withholding tax) and indirect taxes (commercial tax, special goods tax , stamp duty etc.)
  • Direct tax and indirect tax advice - including commercial tax, customs duty, stamp duty, special goods tax and specialist topics such as transfer pricing and the taxation of oil and gas projects
  • Application for tax incentives, tax treaty benefits & exemptions
  • Assistance in tax dispute resolutions

Case study

Background

Lobbying the Myanmar tax authorities on withholding tax, commercial tax and stamp duty issues affecting key sectors in Myanmar

Outcome

  • Meetings and liaison with the Myanmar tax authorities including the Director General and several key departments within the Myanmar Government to discuss and debate the issue s
  • The work included technical discussions including presenting case studies on the tax treatment in other countries to support the intended outcome

To find out more, you can speak to

Paul Cornelius

Partner

+65 91730082

Financial reporting

In today's global business environment, investors expect greater reliability and more oversight over financial reporting.

We can help you develop and supplement your company’s finance function and address your International Financial Reporting Standards (IFRS) needs.

Credentials
  • IFRS reporting for Myanmar branch offices and subsidiaries of regional and global MNCs
  • Conducted comprehensive accounting workshops for more than 40 staff of a Myanmar organisation over a 3-month period to facilitate their learning

How PwC can help

Financial reporting related services

  • Assurance services for IFRS financial reports for purpose of Group reporting or overseas investors
  • IFRS implementation and accounting advice
  • Carve-out / spin-off financial statement prepared in accordance with IFRS
  • IFRS workshops and training

Case study

Background

A local major transport and logistic player was seeking external funding from potential foreign investors and had to fulfill several preconditions to obtain the funding.

Outcome

  • Supported management closely through its first IFRS accounts preparation process - a "hands-on" approach
  • Acted as trusted business adviser and helped client to bridge the knowledge gap in IFRS reporting
  • Enhanced financial reporting policies and procedures with best practice recommendations and identification of gaps

To find out more, you can speak to

Belinda Neo

Associate Director

+95 9963 575535

Valuations advisory

We help you understand and maximise the value of your business, shares or assets in the context of your M&A transactions, disputes, strategic decision making, tax planning or group restructure.

Credentials
  • We helped a major supermarket retail chain in Myanmar successfully obtain funding for the expansion of the business
  • We assisted a leading healthcare diagnostic business to understand the value of their business to pursue strategic and divestment opportunities

How PwC can help

Business Valuation - valuing of business as a going concern for the purposes of

  • merger , acquisition or sale of a business
  • restructuring of your business
  • joint venture
  • evaluating the pricing offered by underwriters in an Initial Public Offering

Valuation Advice in Dispute Resolution - advise you and/or act as expert witness in court or arbitration process in a dispute


Case study

Background

Our client, a leading Myanmar retail conglomerate, approached PwC to help understand the value of their business to raise debt and equity from an international finance organization.

Outcome

  • Understood the key value drivers of the business and incorporated that into the valuation exercise.
  • The client successfully raised funds at favourable terms in order to expand the business.

To find out more, you can speak to

Janeshwar Pachigolla

Associate Director

+95 9254002564
+95 9979882778

Project assurance

IT and Infrastructure Projects are often difficult to project manage successfully. The risk is that the benefits from investments in new infrastructure and systems will not be fully realized. Through proactive independent project assurance we help ensure projects stay on track and achieve the intended results.

Credentials
  • Full scale ERP and other systems implementation support for MNC’s and local companies in Myanmar
  • Project Support for capital expenditure and infrastructure projects in Myanmar

How PwC can help

Our Project Assurance Solutions

We help you to address your most pressing challenges arising during the entire lifecycle of the project.

  • Feasibility studies
  • Procurement assurance and RFP development
  • Vendor evaluation criteria development
  • Project governance support
  • Review of business blueprints including master data
  • Review of test strategy, cut-over and data migration plan
  • Organization change readiness support including trainings to end users
  • Post implementation support

Case study

Background

A large MNC requested PwC to support a highly complex end to end ERP rollout across all the states and regions of Myanmar.

Outcome

  • Client achieved a successful ERP launch by meeting all the critical milestones in a timely manner from RFP to go-live.
  • Client achieved the objective of automating their key processes with reliable accounting & taxation; and optimum controls in place
  • Robust master data catering to future business, statutory, tax & regulatory requirements
  • Multiple trainings conducted in Myanmar & English luggage for 500 plus users

To find out more, you can speak to

Rashmi Thakur

Director

+95 92 6169 3011

Governance and controls

We provide comprehensive Governance and Control related services to help manage your risks while meeting your strategic objectives

Credentials
  • Established Comprehensive Governance Frameworks and risk registers for a leading Myanmar Conglomerate
  • Reviewed and enhanced Internal Controls for a leading Myanmar Construction Company
  • Internal audit
  • Establishment of policy process and control implementation for MNC’s and local conglomerates

How PwC can help

Corporate Governance Advisory

  • “Healthcheck” reviews and gap analysis
  • Corporate Governance framework development and enhancement

Controls and Performance Improvement

  • Design and implement processes and controls for accounting, treasury and procurement functions
  • Review accounting and other business processes and provide recommendations
  • Risk assessment, develop risk assessment framework and registers
  • Establish your Internal Audit function, develop Internal Audit plans and programs

Case study

Background

Our client, a leading Myanmar Conglomerate requested PwC to help establish a comprehensive Corporate Governance framework including the Enterprise Risk Function.

Outcome

  • Conducted a diagnostic study within three weeks and presented a gap analysis for the Board
  • Helped the client to develop an implementation roadmap based on their priorities
  • Developed the Board Committee Charters, Code of Ethics and enhanced existing policies
  • Assisted to develop the risk registers and risk framework
  • Ongoing training and support to the Board and Management

To find out more, you can speak to

Greg Unsworth

Risk Assurance Leader & Partner

+65 98486025
+95 99610 49664

IT Risk and security

Technology-led innovation has enabled business models to evolve. Organisations are operating in a digitally interconnected and integrated environment and more and more companies in Myanmar are introducing financial systems for the first time.

In adopting technology solutions, organisations make themselves vulnerable to IT risks and cybersecurity threats.

PwC helps organisations:

  • Understand dynamic IT challenges
  • Adapt and respond to risks inherent to the business ecosystem
  • Prioritise and protect the most valuable assets fundamental to the business strategy
Credentials
  • PwC is a ‘leader’ ranking by Forrester Research.
  • PwC has strong local delivery capabilities supported by regional and global teams

How PwC can help

Our IT Risk and Security Solutions

Our services include

  • IT readiness assessments
  • Vendor selection
  • Security Strategy, Governance and Architecture
  • Security in New Technology Adoption – Mobile and Cloud
  • Vulnerability Management and Threat Intelligence
  • Identity & Access Management
  • Risk & Compliance Management
  • IT Governance Frameworks

Case study

Background

A client requested PwC to provide advice on IT security for their systems to assess the compliance to international standards and IT-related regulations and, to review the  IT security governance, strategy and architecture.

Outcome

  • The results helped the client to establish its IT security strategy with a robust framework
  • Created visibility for management on the current state of IT against regulations and recognised IT standards.
  • Assisted management to implement policies to improve the IT Security Governance.
  • Shaped the company's future IT architecture along with suggested solutions and vendors.

To find out more, you can speak to

Hugo Fournier

IT Risk and Security, Services

+65 9145 4896

Business strategy

Our Strategy team can help you meet your growth ambitions in Myanmar. This includes helping you in (a) evaluating your strategic direction, identifying growth opportunities and prioritsing strategic initiatives and (b) developing a business plan to execute your growth strategy.

Credentials
  • Growth strategy for a leading consumer goods company in Myanmar, in support of its partnerships with a leading Japanese multinational
  • Growth strategy and business planning for the Myanmar subsidiary of a leading Asian conglomerate in the construction materials industry

How PwC can help

Growth Strategy

  • Assess the market and competitive environment to identify growth opportunities for your business (products/geographies/customers)
  • Formulate a roadmap to achieve your ambitions

Business Planning

  • Facilitate your preparation of a Business Plan to deliver on your strategy
  • Help identify the key initiatives needed (e.g. aligning organisation, supply chain, cost base, channel mix, distribution, marketing)
  • Depending on your needs, this can help:
    • Support capital raising
    • Find and negotiate with strategic partners
    • Develop an IPO roadmap

Case study

Background

Our client, a Yangon-based automotive company, was looking to grow in the new market of car servicing

Outcome

  • Studied the existing demand and supply of automotive servicing in Myanmar
  • Produced a Business Plan, including outline of the organisation structure and profit potential of this growth venture
  • Produced a document to communicate this, which was subsequently used in meetings with potential partners
  • As an outcome, the client entered into a JV with a leading global auto supplier

To find out more, you can speak to

Oliver Wilkinson

Director

+65 9232 3478

Mergers and Acquisitions - Financial advisor

We can deliver the knowledge you need to buy, sell or restructure your business. This include (a) helping foreign investors identify potential investment targets for acquisition, (b) assisting local businesses identify potential partners or buyers for its business.

Credentials
  • Induction of strategic partner through sale of a 50% stake in a leading alcoholic beverage company in Myanmar)
  • Partnership search for a global F&B player looking for a distributor in Myanmar
  • Target search for a leading regional engineering consultancy
  • Numerous deals in Southeast Asia on both buy and sell side

How PwC can help

Lead Financial Advisor to buy or sell side: advising investors/sellers on the transaction from initial approach to completion :

  • Discuss acquisition /divestment criteria
  • Develop universe of buyers/acquisition targets. Identify relevant players based on agreed criteria (e.g. size, segment of the value chain, etc.) . Prioritise and evaluate targets/buyers . Recommend and profile in detail a shortlist of potential targets / buyers to approach
  • Establish deal intent with the target(s) / buyer(s)
  • Advise on deal pricing
  • Advise on negotiations with the target(s) / buyer(s) on transaction terms
  • Advise on potential deal structures
  • Project manage the overall transaction process

Case study

Background

PwC Corporate Finance acted as the exclusive sell-side advisor to the Singapore-based shareholder of a Myanmar F&B company.

A U.S. headquartered global Private Equity firm acquired 100% of the Singapore company, which holds a 50% stake in the Myanmar company.

Outcome

  • Identified a strategic partner to take the Myanmar company to the next level
    • regional distribution and extension of existing brands
    • expansion of product category offerings in Myanmar

To find out more, you can speak to

Vishal V Thapliyal

Partner

+65 9007 7041

Capital raising

We advise businesses on your capital requirements, structure solutions to address your capital needs, and raise debt or structured capital from various capital providers (including, banks and private funds). For clients looking to raise capital from an overseas stock markets (eg Singapore), we can also advice on initial public offering (IPO) or a Reverse Takeover (RTO).

Credentials
  • Raised capital for several companies across Southeast Asia for different purposes: growth, expansion into new markets, strategic investors, and acquisition of new businesses

How PwC can help

Lead Financial Advisor in capital raising (growth, expansion and IPO/RTO)

  • Assess your company’s current capital structure and future capital needs
  • Identify and evaluate capital options available including private equity placements, bank debt , hybrid/structured finance products and pre IPO funding
  • Identify the appropriate financiers / investors to address specific corporate objectives (growth, new market entry, regional expansion) and/or shareholder requirements (dividends, foreign investment, and strategic partnerships)
  • Advise on negotiations with financiers/investors
  • Project manage the overall transaction process

Case study

Background

A Myanmar based company wanted to raise debt financing in order to fund its growth locally

Outcome

  • Introduced the company’s management to banks and international financiers
  • Negotiated financing terms for the company

To find out more, you can speak to

Vishal V Thapliyal

Partner

+65 9007 7041

Mergers and Acquisition – Sellside transaction support

We assist sellers prepare for the buyer’s due diligence and completion review to ensure that your value is not compromised by the quality of your financials. For sellers who do not wish to engage a Financial Advisor, we can also advise on valuation and provide general negotiation support.

Credentials
  • Vendor assistance, valuation and negotiation support for a Myanmar healthcare company
  • Vendor due diligence and structuring advice for a Myanmar beverage company
  • M&A valuation support and IFRS special purpose audit on a retail & consumer Myanmar target arising from a transaction

How PwC can help

Vendor Assistance - help sellers prepare and manage the due diligence and completion process including preparation of Information Memorandum, preparation of information for due diligence, dataroom set up and management, completion accounts preparation

Valuation and Negotiation Support – advise sellers on the value of their businesses and their value drivers, support sellers in negotiating pricing and other transaction terms

Sell-side Due Diligence - Due Diligence to help seller understand issues from a buyer’s perspective. The report will not be shared with the buyers

Vendor Due Diligence - Due Diligence commissioned by seller to be shared with buyers. This could cover financial, tax, commercial, operational, IT and HR. VDD is helps speed up the due diligence process and allow seller better control of commercially sensitive or confidential information.


Case study

Background of a sell-side mandate

We were engaged to work on a vendor due diligence engagement for a shareholder of the leading beverage business in Myanmar to facilitate a bidding process where multiple potential investors are keen to invest into this business.

Outcome

  • Carried out vendor financial and tax due diligence work and came up with a VDD report within a tight timeframe to facilitate the bidding process
  • Provided insightful analysis to potential investors, facilitate the investment evaluation process, leading to a successfully completed transaction of more than USD200mil

To find out more, you can speak to

Jovi Seet

Senior Executive Director, PwC Myanmar

+95 1378661
+959 450044355

Buy-side due diligence

We can provide you with a full range of due diligence services to assist you in your investment evaluation and successful completion of the transaction.

Credentials
  • Buy-side commercial, financial, tax, IT and operational due diligence for a international F&B group on its acquisition of a FMCG target in Myanmar
  • Buy-side financial, tax and HR due diligence for a consortium investors in the TMT sector, followed by Completion procedures

How PwC can help

Due Diligence - pre-deal buy-side

  • Financial and Tax Due Diligence
  • Commercial Due Diligence
  • Operational Due Diligence
  • IT Due Diligence
  • Human Resources Due Diligence

Sale and Purchase Agreement - advice on financial matters, warranties and completion procedures

Completion Review – review of completion accounts and due diligence on completion adjustments

Valuation and Negotiation Support – advise buyers on the value of the targets in the absence of a financial advisor, support buyers in negotiating pricing and other transaction terms


Case study

Background of a buy side mandate

We supported an international beverage company to break into the Carbonated Soft Drinks (“CSD”) market in Myanmar.

Outcome

  • Performed commercial due diligence and provided insights to the investor on the competitive landscape as well as an analysis of the Target’s distribution network
  • Performed financial, tax and IT due diligence on the Myanmar Target and assisted the investor on its evaluation of the transaction, leading to a successfully completed transaction.

To find out more, you can speak to

Jovi Seet

Senior Executive Director, PwC Myanmar

+95 1378661
+959 450044355

Post-deal integration

During the post deal stage we help our clients maximise the value of their transactions by assisting with the Day 1 preparation, taking control and post deal integration planning and execution.

Credentials
  • Enhance operation efficiency of a partnership in Myanmar for an international conglomerate.

How PwC can help

Develop and implement Day One readiness plan

  • PMO establishment
  • “Day 1 non-negotiables” identification; development & implementation of solutions to fill the “Day 1 non-negotiable” gaps
  • TSA services scope, terms & conditions validation/review
  • 100 Days Plan development
  • Communication plan development

Execute 100 Day plan

  • Deliver tactical integration projects and quick-wins
  • Financial control and reporting structures establishment
  • Treasury function enhancement to ensure cash flow visibility
  • Projects implementation to improve IT, HR and supply chain effectiveness

Case study

Background

Our client, an international conglomerate was entering into a contractual partnership with a leading Myanmar state-owned corporate. We advised the client on how to:

  • Establish control on the cash management process
  • Address key Day 1 accrual accounting issues
  • Enable partners to perform accrual accounting for key revenue & expenses

Outcome

  • New “to-be” process for cash in-flows, cash out-flows
  • New processes/information required to address the key Day 1 accrual adjustments
  • Set of management reports for reporting as well as tracking the relevant KPI’s

To find out more, you can speak to

Tze Wee, Wee

Partner

+65 6236 7628

Joint venture & strategic alliance

We can help you assess the feasibility of your proposed partnership structure and provide overall establishment support.

Credentials
  • Local partner identification, background checks and project management support on a joint venture (“JV”) investment in the automotive sector in Myanmar
  • Structuring advice and negotiation support on a JV investment in the oil and gas services sector in Myanmar.
  • JV establishment support on the set up of a business in the building materials sector in Myanmar.

How PwC can help

Partnership establishment support

  • Project management support: Manage overall process, timeline and communication with stakeholders
  • Negotiation support: Highlight considerations on the partnership structure, evaluate options and facilitate negotiations with business partners
  • Partner identification and background checks: Identify local partner based on investors’ criteria, perform background checks on local business partners and carry out site visits of their operations
  • Tax advisory, MIC application and set up: Advise on tax structuring matters, provide MIC application support, set up and implementation of the agreed partnership structure

Case study

Background

Provided joint venture establishment support on the set up of a beverage manufacturing and distribution business in Myanmar.

Outcome

  • Performed market study which found potential in this segment
  • Foreign corporate investor decided to enter the market with its local business partner subsequent to a due diligence exercise
  • Advised on the JV arrangements and structuring considerations
  • Provided implementation support for the Joint Venture

To find out more, you can speak to

Jovi Seet

Senior Executive Director, PwC Myanmar

+95 1378661
+959 450044355

Market entry advisory & market studies

We help investors understand market conditions and opportunities in Myanmar, advising you on the most viable form of entry into the market.

Credentials
  • Market research for a Chinese Oil & Gas corporation on the Oil & gas downstream operations in Myanmar
  • Feasibility studies on social infrastructure for a Japanese insurance company with its potential investment in Myanmar

How PwC can help

Market research and analysis

  • Identify key market segments and understand market dynamics
  • Estimate market size and growth
  • Assess general attractiveness and competitiveness of market
  • Understand key success factors of main market players

Market entry strategy

  • This market research generates insights to support your market entry strategy. For example, we can help identify the best opportunity for organic entry, acquisitions, JVs or other partnerships
  • Advise on foreign ownership restrictions

Case study

Background

Our client, a Japanese corporation, was looking to enter the steel distribution and processing market in Myanmar.

Outcome

  • Deep understanding the existing steel market in Myanmar via insights obtained in our interview programme of >50 experts
  • Discovered that demand for steel is strong and will continue to grow, and identified the most attractive parts of the value chain for our client
  • Proposed business plan for client to execute, with robust milestones to help achieve this

To find out more, you can speak to

Oliver Wilkinson

Director

+65 9232 3478

Direct and indirect taxation services

We are able to advise and assist you on tax matters that may arise throughout your journey in Myanmar

Credentials
  • Advised clients on tax structuring and market entry decision making framework, investment climate, and efficient structure for investment into Myanmar.
  • On going tax advisory and support (including lobbying initiatives for clients and industry groups) for numerous client across various industries, including telecommunication, oil and gas, power, real estates and financial services
  • Supported the clients on corresponding with the Myanmar tax authorities in relation to tax disputes

How PwC can help

  • Local and International Tax Structuring - for both inbound and outbound investments
  • Tax compliance - covering direct (corporate and personal income tax, capital gains tax, withholding tax) and indirect taxes (commercial tax, special goods tax , stamp duty etc.)
  • Direct tax and indirect tax advice - including commercial tax, customs duty, stamp duty, special goods tax and specialist topics such as transfer pricing and the taxation of oil and gas projects
  • Application for tax incentives, tax treaty benefits & exemptions
  • Assistance in tax dispute resolutions

Case study

Background

Lobbying the Myanmar tax authorities on withholding tax, commercial tax and stamp duty issues affecting key sectors in Myanmar

Outcome

  • Meetings and liaison with the Myanmar tax authorities including the Director General and several key departments within the Myanmar Government to discuss and debate the issue s
  • The work included technical discussions including presenting case studies on the tax treatment in other countries to support the intended outcome

To find out more, you can speak to

Paul Cornelius

Partner

+65 91730082

Financial reporting

In today's global business environment, investors expect greater reliability and more oversight over financial reporting.

We can help you develop and supplement your company’s finance function and address your International Financial Reporting Standards (IFRS) needs.

Credentials
  • IFRS reporting for Myanmar branch offices and subsidiaries of regional and global MNCs
  • Conducted comprehensive accounting workshops for more than 40 staff of a Myanmar organisation over a 3-month period to facilitate their learning

How PwC can help

Financial reporting related services

  • Assurance services for IFRS financial reports for purpose of Group reporting or overseas investors
  • IFRS implementation and accounting advice
  • Carve-out / spin-off financial statement prepared in accordance with IFRS
  • IFRS workshops and training

Case study

Background

A local major transport and logistic player was seeking external funding from potential foreign investors and had to fulfill several preconditions to obtain the funding.

Outcome

  • Supported management closely through its first IFRS accounts preparation process - a "hands-on" approach
  • Acted as trusted business adviser and helped client to bridge the knowledge gap in IFRS reporting
  • Enhanced financial reporting policies and procedures with best practice recommendations and identification of gaps

To find out more, you can speak to

Belinda Neo

Associate Director

+95 9963 575535

Capital Projects & infrastructure advisory

Our Capital Projects & Infrastructure (CP&I) practice is composed of more than 600 professionals throughout the PwC global network. Working on more than 800 infrastructure projects across the globe, we are focused on helping our infrastructure clients make a difference for tomorrow.

Credentials
  • Investment environment study by JICA for Myanmar
  • Bid advisory for deep sea port and industrial park in SEZ Myanmar
  • Commercial and financial advisory to Myanmar SOE for the development of prime property real estate.
  • Market study for container port operation in Myanmar for a MNC.
  • PPP and urbanization planning capacity building program with Myanmar Ministry of Construction

How PwC can help

Bid management and tender support

PPP project advisory

Feasibility Study

Financial modelling

Project financing

Project management

M&A strategy

Procurement strategy

Assets management advisory

Strategic investors partnership


Case study

Background

PwC was appointed by our Client to support the bid advisory for an Deep Sea Port and Industrial Park in the Special Economic Zone in Myanmar. Further, PwC delivered a workshop to Government Officials relating to the development of PPP projects in Myanmar.

Outcome

  • Advised in formulating a winning strategy “vision and objectives” with a solid business case.
  • Conducted macro economic study for SEZ opportunities and positioning.
  • Built robust financial models to assess viability of the busiesses
  • Supported the bid submission, presentation and negotiation to the Financial Close.

To find out more, you can speak to

Brandon Lye

Director

+959 9678 23446

Corporatization & Privatization

The Deals advisory team is well experienced to support the transformations of government agencies and the state owned entities across Myanmar

Credentials
  • Advisory on Transformation and Corporatization of a major state owned entity in Myanmar
  • Commercial and Financial Advisory for an international client on the privatization of a large state owned enterprise

How PwC can help

Corporatization and Privatization

  • Formulating strategy and restructuring options
  • Business and assets valuation
  • Finance transformation advisory
  • Human resource advisory
  • Procurement management
  • Bid management and advisory

Case study

Background

PwC was appointed by our Client to support the transformation of a major state owned entity in Myanmar. PwC provided assistance for formulating a strategic plan for restructuring options and future objectives and advised on valuation methodologies and the financial statements. Moreover, PwC currently is providing assistance in accounting, finance and human resources advisory to be ready as a new corporate.

Outcome

  • Advised in formulating structuring options and future objectives
  • Advised on the relevant valuation methodologies and opening balance sheet
  • Commercial and regulatory trainings

To find out more, you can speak to

Brandon Lye

Director

+959 9678 23446

Project assurance

IT and Infrastructure Projects are often difficult to project manage successfully. The risk is that the benefits from investments in new infrastructure and systems will not be fully realized. Through proactive independent project assurance we help ensure projects stay on track and achieve the intended results.

Credentials
  • Full scale ERP and other systems implementation support for MNC’s and local companies in Myanmar
  • Project Support for capital expenditure and infrastructure projects in Myanmar

How PwC can help

Our Project Assurance Solutions

We help you to address your most pressing challenges arising during the entire lifecycle of the project.

  • Feasibility studies
  • Procurement assurance and RFP development
  • Vendor evaluation criteria development
  • Project governance support
  • Review of business blueprints including master data
  • Review of test strategy, cut-over and data migration plan
  • Organization change readiness support including trainings to end users
  • Post implementation support

Case study

Background

A large MNC requested PwC to support a highly complex end to end ERP rollout across all the states and regions of Myanmar.

Outcome

  • Client achieved a successful ERP launch by meeting all the critical milestones in a timely manner from RFP to go-live.
  • Client achieved the objective of automating their key processes with reliable accounting & taxation; and optimum controls in place
  • Robust master data catering to future business, statutory, tax & regulatory requirements
  • Multiple trainings conducted in Myanmar & English luggage for 500 plus users

To find out more, you can speak to

Rashmi Thakur

Director

+95 92 6169 3011

Governance and controls

We provide comprehensive Governance and Control related services to help manage your risks while meeting your strategic objectives

Credentials
  • Established Comprehensive Governance Frameworks and risk registers for a leading Myanmar Conglomerate
  • Reviewed and enhanced Internal Controls for a leading Myanmar Construction Company
  • Internal audit
  • Establishment of policy process and control implementation for MNC’s and local conglomerates

How PwC can help

Corporate Governance Advisory

  • “Healthcheck” reviews and gap analysis
  • Corporate Governance framework development and enhancement

Controls and Performance Improvement

  • Design and implement processes and controls for accounting, treasury and procurement functions
  • Review accounting and other business processes and provide recommendations
  • Risk assessment, develop risk assessment framework and registers
  • Establish your Internal Audit function, develop Internal Audit plans and programs

Case study

Background

Our client, a leading Myanmar Conglomerate requested PwC to help establish a comprehensive Corporate Governance framework including the Enterprise Risk Function.

Outcome

  • Conducted a diagnostic study within three weeks and presented a gap analysis for the Board
  • Helped the client to develop an implementation roadmap based on their priorities
  • Developed the Board Committee Charters, Code of Ethics and enhanced existing policies
  • Assisted to develop the risk registers and risk framework
  • Ongoing training and support to the Board and Management

To find out more, you can speak to

Greg Unsworth

Risk Assurance Leader & Partner

+65 98486025
+95 99610 49664

IT Risk and security

Technology-led innovation has enabled business models to evolve. Organisations are operating in a digitally interconnected and integrated environment and more and more companies in Myanmar are introducing financial systems for the first time.

In adopting technology solutions, organisations make themselves vulnerable to IT risks and cybersecurity threats.

PwC helps organisations:

  • Understand dynamic IT challenges
  • Adapt and respond to risks inherent to the business ecosystem
  • Prioritise and protect the most valuable assets fundamental to the business strategy
Credentials
  • PwC is a ‘leader’ ranking by Forrester Research.
  • PwC has strong local delivery capabilities supported by regional and global teams

How PwC can help

Our IT Risk and Security Solutions

Our services include

  • IT readiness assessments
  • Vendor selection
  • Security Strategy, Governance and Architecture
  • Security in New Technology Adoption – Mobile and Cloud
  • Vulnerability Management and Threat Intelligence
  • Identity & Access Management
  • Risk & Compliance Management
  • IT Governance Frameworks

Case study

Background

A client requested PwC to provide advice on IT security for their systems to assess the compliance to international standards and IT-related regulations and, to review the  IT security governance, strategy and architecture.

Outcome

  • The results helped the client to establish its IT security strategy with a robust framework
  • Created visibility for management on the current state of IT against regulations and recognised IT standards.
  • Assisted management to implement policies to improve the IT Security Governance.
  • Shaped the company's future IT architecture along with suggested solutions and vendors.

To find out more, you can speak to

Hugo Fournier

IT Risk and Security, Services

+65 9145 4896

Incorporation and corporate secretarial services

We provide a one stop solution for all corporate services and compliance needs that will help you to achieve your business goals in Myanmar.

Credentials
  • Assisted our clients in the entities set up and the applications in investment permits.
  • Assisted the largest foreign investors on the personal income tax compliance, payroll set up and monthly processing, monthly tax reporting assistance as well as immigration matters.

How PwC can help

  • Company set up, covering arranging and facilitating meetings with relevant government bodies, application for permits and licenses from relevant authorities including DICA, MIC and SEZ Committee
  • Record keeping and reporting of financial data
  • Payroll set-up, monthly payroll administration, monthly payroll filing to Ministry of Manpower Office, monthly and year end employer tax and social security reporting
  • HR advisory services and recruitment Services* for Finance Professionals
  • Company secretarial compliance, including providing a registered office and set-up of bank accounts
  • Stay permits and business visa processing
  • On boarding services

*To be undertaken in Singapore


To find out more, you can speak to

Jasmine Thazin Aung

Director

+ 959 450023688