Myanmar Companies and Second Generation

Myanmar Companies and Second Generation

December 17
10:57 2015

Throughout the world, there is the ongoing existence of family-owned companies which have endured and flourished for years and years. Also in those well-known companies which have gone public, family members still hold the reins or the same families influence the decision-making of the companies to a certain limit. In the world-famous Ford automobile company, William Clay Ford, the grandson of company founder Henry Ford, assumed the duties of CEO and Chairperson and is currently acting as Executive Chairman. In Asia, among the most successful second generation entrepreneurs who inherited their fathers’ businesses is Lee Kun-hee, Chairman of Samsung Group. According to Businessweek magazine, the income generated by Samsung Group amounts to 17% of South Korea’s GDP.

In Myanmar, the majority of businesses are family-owned. The second generation individuals of some of these family-owned businesses who have taken charge of their respective companies have been approached and interviewed by us and their views on how to maintain and develop their business, how they retain the good legacy handed down by the founder, and how they handle the changes and challenges, are featured in this story.

U Thura Aung
Managing Director, AMPS Construction

Second Gen3

Firstly, I would like to talk about the Founder. Since 1992, my father U Aung Min as Project Director of TOSTA Group Ltd. undertook projects such as Nyaungbinlay Market, Shwe-gondaing Housing near Shwegondaing traffic junction, Thumingalar Housing in Thingangyun township, Innwa Housing in South Dagon ward 66, etc., then in 2002, under the name of AM Construction, contract buildings, government projects such as ditches, earthing and buildings. When in 2010 we put up the application to register AM Construction as Company, there was a similar name so we changed the name to AMPS (Aung Myin Pyae Sone). My father continues working as Executive Chairman of the company. Presently, I am Developer and I am in charge of construction.

In the workplace, what is different between then and now are technology and company organization structure. Previously, laying the concrete needed a lot of manual labour. Starting from carrying the mortar, etc., only human labour was used. Currently, technology is a great help. Tower cranes can be used and there is a lot of time-saving. In the marketing area too, customer pattern has changed. Because of internet accessibility, almost everyone is know-ledgeable and designs have become moderni-zed. There are more choices and customer expectation has become high.

In management too, there are similar changes. Previously, management was under-taken by owners under a centralized system. Today, each section head is given discretion for authority and management. Now our company has attained ISO certification and therefore, we adhere to ISO standards. We have HR section and it organises training courses and also sends employees abroad on excursion trips.

One good practice for me is, since I was a young boy, I have visited the construction sites. For business too, my father is my role model. I learned a lot from him. His principles are: be honest; keep one’s own promises; sustain quality at its best; make clear-cut decisions. You also have to work with perseverance and diligence. And also, treating the staff members like family; after all, most of the employees here have work-ed for the company for some length of time.
Because my father has worked for over 20 years in this field, most people have trust in him. That is why to retain our old customers, we organize respective events and we give them special service. We also try to maintain good social relationships with them.

Second Gen9

In our company, we have old-service staff who have experience and who are qualified. They may not have finished MBA and such like these days but they love the company and they continue rendering service. That is why when there are positions, responsibilities and rights, we give them first priority. We give new staff the same treatment. Another thing is, for the staff to be close with one another, we organize sports and games at least twice a year, going on trips once a year, holding dinners and entertainments. We do not discriminate between old and new staff. Occasionally, experienced old staff even give training to new staff.

We also provide regular and enhanced training to old staff. And we have improved our technology and warranty. We have also assigned structure consultant, legal advisor and business consultant to the company.

Within the next five years, we aim to expand construction and establish OSC Hospi-tals. 100-bedded hospitals will be upgraded to 200-bedded ones. And we will provide one additional treatment specialty in each hospital. Regarding construction, we will be constructing high-rise buildings and in Pathein, apartments. In the management sector, to improve human resources, we will organize more training and also send some trainees abroad to observe and keep track of new technology.

Translated by Mra Hninzi


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