Sustainability Goals and Performance

The Group’s businesses provide approximately 5,238 jobs to locals in Myanmar. All of its employees are paid at least the statutory minimum wage. Aside from direct employment, the Group also supports local businesses, job creation and financial inclusion in communities throughout Myanmar. For instance, Wave Money, a mobile based financial services provider that facilitates secure and real-time payment transactions, runs a network of more than 68,000 agents in both urban and rural communities across 299 townships. It caters to approximately 70% unbanked population of Myanmar, many of whom are micro and small businesses as well as migrant workers who have relocated to urban centres in search of employment but periodically remit their salaries to support their families in rural areas. Wave Money has also become a trusted partner for many government departments and non-profit organisations in disbursing COVID-19 relief funds.

Yoma Heavy Equipment is committed to facilitate the mechanisation of Myanmar’s agricultural industry with the aim of helping farmers improve crop profitability and save time, energy and labour. Since 2012, the Group has sold approximately 4,200 tractors via its self-managed locations, over 300 independent business associates and 30 independent parts distributors and continues to support a dedicated maintenance team to better serve rural communities throughout the country. Yoma Heavy Equipment also sponsored Myanmar’s first cassava conference and workshop to educate farmers about the crop’s potential, which was attended by the Ministry of Agriculture, the Department of Agricultural Research (DAR), the Department of Agriculture (DOA), local farmers and other stakeholders.

Various Yoma Group companies are partners of M2030. M2030 is a movement launched by the Asia Pacific Leaders Malaria Alliance (APLMA) to eliminate malaria in Asia by 2030. The existing M2030 partners include Pun Hlaing Siloam Hospitals, Wave Money, Volkswagen, New Holland, JCB, KFC, Auntie Anne’s, YKKO, Little Sheep Hotpot and Yoma Micro Power.

Approximately 41% of the Group’s workforce is female. In addition, Yoma Strategic has a 22% female representation on its Board of Directors as at November 2020. Training programs on building and maintaining a respectful workplace were rolled out in 12M-Mar2019. As at 30 September 2020, more than 80% of the Group’s managers underwent such training which covered topics that included anti-harassment, maternity planning and career development.

As of September 2020, Yoma Micro Power has constructed and commenced operations at 318 off-grid solar micro power plants. Approximately 812 households in 11 villages in off-grid areas now have access to electricity. Yoma Micro Power plans to scale up to 750 solar micro power plants in financial year ending 30 September 2021 and to more than 2,000 by the end of 2023.

The Group fully supports and practices the International Labour Organisation’s Eight l Core Conventions and the IFC’s Labour and Working Conditions Standards. The Group prohibits child labour at all of its business operations and projects, and there were no cases of child labour reported in 18M-Sept2020.

Yoma Land has developed City Loft, a product offering of quality affordable housing that caters to the underserved the middle-income market, in-line with its wider mission to build better communities for the future of Myanmar. The first project City Loft @ StarCity is expected to include commercial, communal and recreational areas and is designed to facilitate modern living standards that allow an inclusive community to thrive. Yoma Central, an integrated mixed-use development currently under construction in downtown Yangon, has adopted IFC EDGE (Excellence in Design for Greater Efficiencies) as a sustainability standard for green design and construction principles. For example, the project plans to install low-emissivity glazing windows to reduce solar heat gain and will utilise natural daylight and ventilation to minimise energy consumption. The Group has generated approximately 0.57TJ of renewable energy from solar panels which were installed at Star City and The Campus. This is equivalent to the monthly electricity consumption of approximately 920 households in Myanmar.

The Group strongly opposes bribery and all other kinds of corruption. To reinforce its Code of Conduct, the Group conducts training for all employees covering its policies on Anti-Bribery and Anti-Corruption, Conflicts of Interest and Whistle Blowing. These policies extend to the Group’s business dealings with third party service providers and vendors.

The Group prohibits any form of discrimination or preference made on the basis of race, colour, sex, religion or political opinion which has the effect of impairing equal opportunity or treatment. As a committed nation builder, the Group believes that it is important to lead by example so as to ensure that internationally recognised best practices are established early on in the rapid development of Myanmar.