LUMERGO ADVISORY MANDATE WITH MYANMAR’S ELECTRICITY DISTRIBUTION COMPANY

LUMERGO’s CEO Arno Hendriks signs its first advisory mandate in the Myanmar Power Sector. A group of Myanmar electricity distribution companies in Yangon including but not limited (CIC, Xxx)  has appointed LUMERGO as its strategic and financial advisor. The group of companies are supplying electricity to >600,000 clients representing >20% of the total Myanmar electricity market. LUMERGO will be responsible strategizing the group’s activities, financial modelling of the Groups activities, knowledge sharing with Myanmar’s EPGE and MOEE as well as raising the requirement capital to reduce the losses in the Yangon distribution grid and increase the profitability of the group.   Mr. Hendriks has been appointed as non-executive director / Chief Financial Officer of the Group.

According to Mr Hendriks; “Providing reliable and affordable electricity has been my mission since I arrived in South East Asia in 2008! Yangon is Myanmar’s growth engine but is struggling to supply reliable power. The budget limitations of MOEE and YESC has resulted in privatizing of a large number of the current 43 Town ships in Myanmar. I take the challenge to consolidate these townships, and to prepare them for the necessary capital raising activities. The group together has the potential to raise sufficient capital to improve the grid, introduce smart meters etc.  This mandate is a long-term partnership between Myanmar’s electricity supply companies and LUMERGO and a good example how we can make a bridge between these emerging market operations and the corporate world of investors and lenders.  LUMERGO will use its M&A expertise and knowledge of the Myanmar infrastructure market environment to ensure the Group will become the electricity distribution company of Myanmar. “