Future Creator Group Construction Co., Ltd. (FCGC), one of the subsidiaries of IGE Group of Companies, is recognsied as a Grade-A Construction Company in Myanmar by Myanmar Engineering Council. Myanmar Engineering Council appraises the engineering companies or organisations for their registeration for recogniation based on their working capital, liability, asset, tax clearance, working experiecce, manural certificates of Quality Control, Quality Assurance, Health Safety and Enviroment, CSR activities, appointed engineers experts, using excellent machineries and equipments.
FCGC, mainly focuses on infrastructure development across the country, is currently working on Tayanar-Phayargone Road Project and Hanmyintmo-MyoGyi-Ywarngan Road Project under JICA’s Offical Development Assistance Program titled Regional Development Projects for Poverty Reguction Phase.1.Read More>>
As part of the capacity building programs, IGE group of Companies has been providing training courses to its staff to build middle management competency and capabilities. “Middle Management, especially the Heads of Department, is the most critical level in the organization. They have to not only manage their subordinates, but also to manage their superiors,” said Mr. Wong Sau Yee, Deputy General Manager for Training and Development of IGE Corporate Human Resource Department.
Training modules specially designed for middle management included the role of manager, managing team conflict through personalities, Read More>>
With zeroing in on anti-corruption in doing business, IGE Group of Companies actively takes part in anti-corruption movements, when the government has shown its willingness to address corruption as a matter of national concern. In August, the responsible persons of IGE attended the workshop on building business integrity co-hosted by Myanmar C entre for Responsible Business and UNODC which has been working on corruption related issues, particularly with government and the Anti-Corruption Commission.
“We are following the anti- corruption law since the government launched. We already had Code of Conduct in which anti-corruption points are also included, said U Aung Thurein, Deputy General Manager for the Corporate Human Resource Department of IGE. Read More>>
The Chairman of IGE Group of Companies attended the forum which aims at providing a platform for the government officials and representatives from local and international business groups to explore and discuss about the investment opportunities in Myanmar and met with local and international business groups. Yangon-based IGE Group of Companies is one of the leading business companies in Myanmar and exhibited its goods and services at the Myanmar Investment Forum 2017 which was held at the MICC II, Nay Pyi Taw on 6-7 June, 2017, attended by more than 100 economic organizations, 90 foreign enterprises and nearly 200 Myanmar business people. Hundreds of foreign investors visited IGE Company’s booth at where current projects, successfully implemented Read More>>
Amara Communication Company Limited ( ACS ) will launch a new 4G LTE and fiber-to-the-subscriber (FTTx) network with Alepo’s complete BSS solution, ERP and Managed Services Offering (MSO), in Myanmar. Aiming for a swift rollout of new 4G LTE data and FTTx services with advanced customer experience for high-end residential and enterprise customers throughout Myanmar, ACS has selected Alepo’s BSS solution and managed services which will enable Amara to quickly launch innovative LTE and FTTx services to maximize return on the multi-network investment. “When picking Alepo’s complete BSS solution, we looked at our present as well as future needs and found Alepo’s BSS solution very scalable,” said Aye Mya Mya Kyi, CEO for Amara Communications. “We found Alepo’s convergent BSS solution to be one of the most flexible and robust solutions available on the market, Read More>>
On the occasion of Myanmar New Year Eve, All the staff from IGE land Company visiting Hini Si Kone home for aged in Bahan township and made meritorious deeds with the collection of their earned money and services. They donated Kyat 400,000 aiming for three meals, breakfast, lunch and dinner to 181 elderly person at the Home for Aged. With their benevolently collective donation covered for nourished chicken rice soup for the breakfast and dinner, chicken-curry and rice for lunch and cold drinks. As service charity, the staff spent their time cleaning the hand and food of the old at the home for aged. After they had done their good deed, they made their merit share to others Read More>>
IGE Chairman participated in the discussion of low cost housing project implementation.
MRTV conducted a panal discussion on the issue of low-cost housing project for civil servants by inviting the experienced persons from public and private sector. U Nay Aung, Chairman of IGE Group of Companies, participated in that discussion as an Executive of Myanmar Banks Association (Chairman of United Amara Bank) together with Officials from Ministry of Finance and Planning, Ministry of Construction, Naypyitaw City Development Committee, Myanmar Construction Entrepreneurs Association and Myanmar Economic Bank.
U Nay Aung discussed on project financing for developers and long term mortgage loan program for buyers at low interest rate and the requirement of law to generate for long term. “I thought there are two model for loan program, one is project financing for developers and another is long-term loan for buyers at lower interest rate. I also have a plan for the combination plan for two model,” he expressed in the discussion.
There is important fact to consider in providing loans. Currently, loan period is 8 years or 10 years in the market. We could consider to extend these period to 10 years or 15 years or 20 years so that the buyers would not have any stress for their loan. The next fact is to reduce the interest rates. The current interest rate for loan programs is 13 percent. If we want to reduce the interest rate, I think we have to develop a fund by private banks, foreign banks and Myanmar Economic Bank to be able to borrow the money at lower rate. We would need to reduce the amount of down payment for buyer. Currently, customers have to pay 30 percent down payment of total amount. If possible, we could reduce to 20 or 10 percent,” he said. U Nay Aung also pointed out the Apartment Act to be developed which is essentially needed for bankers, developers and buyers for long term real estate development in Myanmar. Finally, He suggested to implement integrated township models in the outskirt of the cities.
IGE Sharing Hands Foundation, founded by IGE group of companies with the aim of improving the prospects for future generations by supporting education initiatives and vocational training, donated MMK 500,000 to 320 children who participated in the contests: storytelling, poetry reading and singing. Children from 40 Nursery Schools in Yangon under the Department of Social Welfare showed their talents in the contests which were held in commemoration of the 70th Union Day and 102nd anniversary of Bogyoke Aung San’s birthday also known as Children’s Day in Myanmar. The awarding ceremony was held on Myanmar Children’s Day at the No.1 Nursery School, Bahan Township and IGE foundation’s responsible person attended the event. Read More>>
IGE Group of Companies donated MMK 14 million to provide need support and assistance to internally displaced persons (IDP) in Shan state and Kachin state. A donation of MMK 10 million was given to the National League for Democracy office in Sanchaung township, Yangon to support IDPs in Kachin State. An additional donation of MMK 4 million was sent directly to IDP camps in Shan state near the city of Muse. The donations provided by township administrators, members of parliament, and the wider community meant that the displaced persons were given food and clothing. Read More>>
The IGE Team comprising of our chairman, board members and senior management visited the project site of the Pengerang Integrated Petroleum Complex (“PIPC”) in the state of Johor, Malaysia. PIPC is one of the largest pieces of investments in Pengerang district and located on a single plot measuring about 20,000 acres. The project will house oil refineries, naphtha crackers, petrochemical plants as well as a liquefied natural gas (LNG) import terminal and a regasification plant. Two major catalytic projects have been committed within the PIPC area. Read More>>
IGE Group successfully conducted as part of its capability building initiative a financial training course for its senior management team. The “Finance for Senior Executives” program took place in October 2016 at the Sedona Hotel in Yangon and was not only attended by Board of Directors of IGE Group, led by U Ne Aung but also by the leadership team of the various operating subsidiaries and corporate head office staff. The training conducted by Christopher Schweiger, Group Chief Financial Officer covered a broad range of subject areas ranging from the foundations of corporate governance and risk management, Read More>>
YANGON, 19 October 2016: The Ministry of Transport and Communication held auctions for 2600 MHz 4G spectrum at the Hotel Royal ACE on October 17, 18 and 19. Tender bids had been invited for the auction earlier in 2016 to encourage the development of nationwide high-speed internet services as well as to allow the Union to earn more tax revenue. Nine out of 20 companies were shortlisted for the auctions, and the final winners included Amara Communications Co. (ACS), a business unit of IGE. To ensure fair bidding, a Simultaneous Multi-Rounds Auction (SMRA) was exercised with 32 auctions held over the course of the three days. Read More>>