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Shareholders

Shareholders' Meeting

ACLEDA MFI Myanmar Co., Ltd. holds its Annual General Meeting of Shareholders in compliance with the law, the Articles of Association and other relevant regulations. The third Annual General Meeting of Shareholders was held on June 11, 2015 at ACLEDA MFI Myanmar Co., Ltd.'s headquarters and an additional two consents were passed by email during the year.

Annual General Meeting

Prior to the Meeting

The Meeting Notice contains a detailed agenda, factual details, rational and Board recommendations for each agenda item as well as accompanying documents and the Report of Financial Statements produced by the external auditor. The Meeting Notice and accompanying documents were prepared in English and were delivered to all Shareholders in advance of the Annual General Meeting.

During the Meeting

The Chairman of the Board chaired the third Annual General Meeting of Shareholders. The Chairman allowed Shareholders full opportunity to ask questions and make recommendations and provided comprehensive clarification when requested. The Management also clarified and answered related issues. The Company Secretary recorded the Minutes and detailed votes for each agenda item.

The Key matters approved in 2015/16 were:

  • The Financial Statements for the year ended March 31, 2015, which had been audited and certified by Win Thin & Associates.
  • The Annual Report 2014-2015 of ACLEDA MFI Myanmar Co., Ltd.
  • The reappointment of Win Thin & Associates as the external auditor at the end of December 31, 2015 and at the end of March 31, 2016.
  • Recognize the resignation of Mr. Prom Visoth as Shareholder Representative of ACLEDA Bank Plc.
  • Amendments to Section 6.1 (o) (iv) & (v) and Section 8.2 of Subscription Shareholders Agreement.
  • The Business Plan Phase III 2016-2017 and Narrative Business Plan 2016-2017, which were already amended.

Following the Meeting

The Minutes of the third Annual General Meeting of Shareholders were circulated to all Shareholders for their perusal prior to confirmation at the next Annual General Meeting.

Shareholders

The Shareholders are the owners of the ACLEDA MFI Myanmar Co., Ltd. However, except for approving certain critical strategic matters the Shareholders have no direct powers to manage the ACLEDA MFI Myanmar Co., Ltd. in any way but delegate this responsibility to the Board of Directors through the Articles of Association.

ACLEDA Bank Plc.

ACLEDA Bank Plc. is a public limited company, formed under the Banking and Financial Institutions Law of the Kingdom of Cambodia. Originally, it was founded in January 1993 as a national NGO for micro and small enterprises' development and credit. It went through two major successful transformations from Microfinance to Specialized Bank and then to a Commercial Bank in 2000 and 2003 respectively, in order to provide full banking services to meet customer demand.

ACLEDA Bank Plc. is the first bank in Cambodia to have been assigned ratings by the top international credit rating agency - Standard & Poor's.

ACLEDA Bank Plc. is 51% owned by Cambodian interests, including its staff while SMBC (SUMITOMO MITSUI BANKING CORPORATION) holds 18.25%, COFIBRED (a subsidiary of BanquePopulaire) and ORIX Corporation respectively hold 12.25% each; 1.5178% by Stichting Triodos Sustainable Finance Foundation; 2.1814% by Triodos Fair Share Fund; and 2.5508% by Triodos Microfinance Fund.

At the end of December 2015, ACLEDA Bank Plc. had 11,926 staff working in 258 offices nationwide. It had total assets of USD 3,846 million, loans outstanding of USD 2,454 million, and deposits of USD 2,616 million. Today ACLEDA Bank Plc. is offering Electronic Banking Services, Deposits, Credits, Funds Transfers, Cash Management, Trade Finance, Bank Consultancy and a comprehensive list of other retail banking services tailored to its customers' growing demands. For more information, visit: www.acledabank.com.kh

COFIBRED — Compagnie Financière de la BRED (BRED's financial company)

COFIBRED is a BRED Banque Populaire's fully owned subsidiary. Given the development of BRED's international activities, it was decided in 2008 to regroup all subsidiaries and participations within a single entity, Cofibred. Cofibred's portfolio is composed of more than 45 subsidiaries and participations with a global value of about EUR1.07 billion, in bank, insurance, e-commerce and/or financial companies (2015 net income: EUR4.8 million). These subsidiaries and participations are worldwide on the five continents.

International Finance Corporation (IFC)

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise and influence, to create opportunity where it's needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit: www.ifc.org

KfW

KfW is one of the world's leading and most experienced promotional banks. As an integral part of the KfW Group, KfW Development Bank carries out Germany's Financial Cooperation with developing and emerging countries on behalf of the Federal Government. The staff at its head office in Germany and in about 80 local offices cooperate with partners all over the world. KfW's goal is to combat poverty, secure the peace, protect the environment and the climate and make globalization fair. The bank has a strong backing as it is wholly owned by the German Government and the federal states, which translates into an AAA-rating. With a balance of EUR 489 billion (2014), it is Germany's third largest bank. Global commitment for Financial Cooperation with developing countries amounted to EUR 6.7 billion (2015). For more information, visit: www.kfw.de/KfW-Group


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