TODAY

Jardine Matheson’s Myanmar Country Chairman Mr Peter Beynon had taken on challenges in his 20-year work abroad including the Middle East and Far East, and was the first ever non-family managing director in management of AL Fahim Group. TODAY has interviewed him on his experiences, what to know of on entering Family Business, and Jardines partnerships, as follows.

Work Background

I finished the GCE with Maths, Physics and Economics at A level, and joined Bristol Univer-sity for studies in Economics. While in Bristol I was responsible for Finance work of my grand-father’s business. In 1978 I graduated from Bristol and started my career in Accounting section of Price Waterhouse Coopers (PWC) office in London. In 1981 I was given ICAEW Chartered Accountant Qualification, which led me to seek work abroad. I was into Family Busi-ness in trade sector. Likewise over a period of 20 years in Asia and Middle East _ Hong Kong, Philippines, Singapore, Saudi Arabia _ I was into Senior Finance and Management, working jointly with Jardine Matheson. After I left Jardine, I was Finance Director in several companies; and became in 2005 the first-ever Non-Family Managing Director at Al Fahim Group of Abu Dhabi. In 2008 I went for partnership with HBG, a private equity firm in Dubai, and by 2014 I have joined hands again with Jardine Matheson. Currently I am Myanmar Country Chairman.

Difficulties that face Jardine group in Myanmar …

We aim for long term in Myanmar. Jardines has a 180-year history in Myanmar. We have started the operation of Jardine Cycle & Carriage Auto-mobile Myanmar Co., Ltd since August 2013, in partnership with International Beverages Trading Company Group (IBTC). We are Dis-tributor as well as Service Provider to Mercedes Benz, Mazda and Fuso brand cars and vehicles. The Pizza Hut in partnership with City Mart Holdings should open by November.
More partnerships are in the pipeline. Would-be partners with us must, as Pre Qualify, not appear in SDN List. We are meticulous about businesses, always ready to engage suitable companies. The partnership will come to be when it is most opportune.

Firstly a would-be partner must not be an organization owned by a person who has been formally declared for imposition of economic sanctions. Another factor: Myanmar’s investment laws and regulations remain a deterrent. Myan-mar economy is timely, but still open to weak-nesses. For example, the government do not allow us to set up Dairy Farm business by ourselves; only a joint venture in that line is possible.

The role of Country Chairman . . .

The responsibility of Country Chairman is to have Local Platform connect as Regional Platform. Not in Day to Day operation, he connects up all links.

What book would you suggest as readable?

I would like to suggest all sorts of books to read, apart form the one that appeals to you. Then you know of multi-sided outlook. I like motivational books. I suggest you sample Touching the Voice, based on a mountaineer’s real-life story.

Translated by – Khin Aung (Eng)