First Myanmar Investment

What First Myanmar Investment does

First Myanmar Investment Co., Ltd. (FMI) is a Yangon-headquartered diversified holding company founded in 1992 and the first issuer listed on the Yangon Stock Exchange (ticker 00001) in March 2016, currently operating through four pillars: Financial Services via Yoma Bank (including a Core Banking System modernization); Real Estate via Yoma Land (residential developments at StarCity and related projects such as City Villa, City Loft West Phase I, Estella, and ARA); Healthcare via Pun Hlaing Hospitals (with EMR-ERP deployment targeting HIMSS Level 6 and the Heal App telemedicine platform launched in 2021); and Tourism via Memories Group. The group also retains minority positions in adjacent ventures such as Wave Money (digital payments, partly divested in 2018) and previously FMI Air (airline operations suspended in 2018).

The group serves a broad Myanmar customer base across retail banking, residential property buyers, hospital patients, and domestic/inbound tourism, with a head-office staff of 51-100 and a group-level workforce exceeding 7,500 employees serving more than 8,900 shareholders. Underlying technology consists of standard enterprise systems—core banking, EMR-ERP, and consumer mobile apps—rather than proprietary AI/data platforms. Revenue mechanics vary by pillar: net interest income and fees at the bank, unit sales and rental income in real estate, patient service revenue at hospitals, and hospitality revenue in tourism; FY2016 group revenue of MMK 2,594.42 billion remains the disclosed peak.

FMI is the listed entity within the broader Yoma Group (parent: Yoma Strategic Holdings), and has historically attracted international strategic capital, including partnerships with Ayala Corporation (2019), IFC/GIC/Norfund (2019), OUE Lippo Healthcare (2019), and JCDecaux SA (2018). Governance is highlighted by #1 transparency ranking under Pwint Thit Sa (2024), EDGE sustainability certification (2018), and UN Global Compact membership since 2012. In September 2024, founder Serge Pun stepped down as Executive Chairman and was succeeded by U Tun Tun as CEO, formalizing a generational transition after 32 years of founder-led control.

Name

First Myanmar Investment

Legal name

First Myanmar Investment Public Company Limited

Website

https://fmi.com.mm

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

51–100 employees

Short description

First Myanmar Investment (FMI) is a Yangon-based diversified holding company founded in 1992 and the first listing on the Yangon Stock Exchange (2016), operating four business pillars—Yoma Bank (financial services), Yoma Land (real estate), Pun Hlaing Hospitals (healthcare), and Memories Group (tourism)—and serving Myanmar retail banking customers, residential property buyers, hospital patients, and tourism consumers across a 7,500+-employee group.

Ownership category

akta.pro rank

Headquarters

HQ city

Yangon

HQ country

Myanmar (Burma)

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Investment Returns and Dividend Income: FMI operates as an investment holding company generating revenue through returns from its subsidiaries and strategic investments. The company earns dividend income and capital gains from its portfolio companies including Yoma Bank, Pun Hlaing Hospitals, Yoma Land, and Memories Group.
2. Yoma Bank Financial Services: Banking services including lending, deposits, and financial products generating interest income and fees.
3. Real Estate Development and Sales: Revenue from Yoma Land real estate development projects including landed housing (City Villa@StarCity), condominiums (City Loft West), and other property developments.
4. Healthcare Services: Hospital and clinic services at Pun Hlaing Siloam Hospitals and family clinics, including inpatient, outpatient, and telemedicine services.
5. Tourism Operations: Memories Group operates tourism businesses including ballooning services (Balloons Over Bagan) and other tourism experiences.
6. Street Furniture and Advertising: FMIDecaux operates bus shelters and street furniture in Yangon, generating advertising revenue under a 20-year contract with Yangon City Development Committee, financed by advertising proceeds.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

First Myanmar Investment Co., Ltd. (FMI) is a diversified investment holding company founded in 1992 and publicly listed on the Yangon Stock Exchange since 25 March 2016. The company invests in and operates through subsidiaries spanning commercial banking (Yoma Bank), healthcare (Pun Hlaing Hospitals), real estate development (Yoma Land), tourism and hospitality (Memories Group), and advertising/street furniture (FMI Decaux).

Product overview

First Myanmar Investment Public Company Limited is a diversified blue-chip conglomerate and investment holding company listed on the Yangon Stock Exchange (Code: 00001). Rather than offering a unified product platform, FMI operates as a holding company that provides leadership and capital to operating subsidiaries across four core business sectors: Financial Services (Yoma Bank), Healthcare (Pun Hlaing Hospitals with Heal App digital services), Real Estate (Yoma Land with residential projects including City Villa, City Loft, Estella, and ARA), and Tourism (Memories Group). The company also holds strategic investments in companies such as Wave Money and FMI Decaux. FMI's business model involves monitoring and evaluating the sustainability performance of its operating companies rather than directly offering products to end consumers.

Differentiator

Problem solved

Functional benefit

Brands

• Yoma Bank: Banking and financial services subsidiary
• Pun Hlaing Hospitals
• Yoma Land
• Memories Group
• Heal App
• Yoma Connect App
• Wave Money
• Yoma Yangon International Marathon

Products and services

• Yoma Bank Commercial banking subsidiary offering retail and SME banking, corporate banking, digital payments, and financial inclusion via the Wave Money agent network (60,000+ agents) across Myanmar.
• Pun Hlaing Hospitals Integrated private healthcare hospital network serving individual patients and corporate health programs across Yangon, Hlaing Tharyar, and Nay Pyi Taw, supported by a Hospital Information System with EMR-ERP.
• Yoma Land Real estate development subsidiary building residential, commercial, and mixed-use properties including StarCity, Pun Hlaing Golf Club, and Yoma Heritage for individual home buyers and corporate tenants.
• Memories Group Tourism and hospitality subsidiary of FMI operating hospitality properties and tourism experiences in Myanmar.
• FMI Decaux Outdoor advertising and street furniture subsidiary providing advertising infrastructure and media placements.

Quantifiable outcome

• Net profit increased 67.1% with 'Three Pillar' strategy results
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Ayala CorporationcoreStrategic or Co-development Partner · 14 November 2019Landmark partnership with Philippines' leading conglomerate Ayala Corporation. This represents a significant strategic alliance bringing international expertise and capital to FMI's operations in Myanmar across multiple business sectors.
• OUE Lippo Healthcare LimitedcoreStrategic or Co-development Partner · 17 February 2019Partnership with OUE Lippo Healthcare for Pun Hlaing Siloam Hospitals, bringing healthcare expertise and capital for hospital expansion across Myanmar.
• JCDecaux SAminorStrategic or Co-development Partner · 20 January 2018FMIDecaux joint venture for exclusive 20-year street furniture contract with Yangon City Development Committee. Business model financed by advertising proceeds at no cost to Yangon city.
• Manaung Public CompanyminorStrategic or Co-development Partner · 25 October 2016Collaboration with Manaung Public Company to develop Manaung Island, a strategic tourism and real estate development project.
• The Landmark Development PartnersminorStrategic or Co-development Partner · 26 July 2016More than US$600 million to be invested in the local economy through The Landmark Development project.
• Livelihoods and Food Security Trust Fund (LIFT)coreStrategic or Co-development Partner · 18 December 2015Partnership with LIFT (multi-donor fund with UK aid, USAID, Australia Aid) to increase agricultural productivity in Myanmar through Yoma Bank. Programme estimated to reach 181,000 rural families through mechanisation, savings stimulation, and access to finance initiatives.
• Yoma Strategic HoldingscoreOthersYoma Strategic Holdings is the parent/group affiliation company, with shared leadership and Group-level support for infrastructure and executive decisions.
• SPA GroupcoreOthersSPA Group is the group affiliation company related to FMI, jointly undertaking sustainability and community initiatives.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• OUE Limited: Singapore-based diversified group with healthcare (OUE Lippo Healthcare — FMI's hospital partner), hospitality, and real estate; comparable in structure and geographic profile to FMI's healthcare, real estate, and tourism operations.
• Lippo Group: Indonesia's Lippo Group operates across real estate, healthcare (Siloam Hospitals — the partner of Pun Hlaing Siloam Hospital), retail, and financial services, making it directly comparable to FMI's hospital and real estate verticals.
• IHH Healthcare: IHH is a large regional hospital operator (Malaysia, Singapore, Turkey, India) that is comparable to Pun Hlaing Hospitals in its multi-country private hospital delivery model, premium care positioning, and technology-enabled service offerings.
• Ayala Corporation: Ayala is a Philippine diversified conglomerate with real estate, banking, healthcare, and telecom pillars; it is a strategic partner of FMI/Yoma and serves as a model for the diversified, multinational-affiliated emerging-market conglomerate blueprint FMI is pursuing.
• Bangkok Dusit Medical Services: BDMS is a regional private hospital group with a comparable multi-site, technology-enabled, and internationally accredited hospital network, providing a benchmark for Pun Hlaing Hospitals' national expansion ambitions.

Regional players

• City Mart Holdings: City Mart is a Myanmar consumer and retail conglomerate; while its primary vertical differs, it is comparable to FMI as a Myanmar-rooted diversified group serving the mass-market consumer through an integrated multi-business platform.
• Max Myanmar Holding Public Co: Max Myanmar is a Myanmar-based diversified group with exposure to sectors adjacent to FMI's, including energy and infrastructure; comparable as a fellow Myanmar-listed or Myanmar-rooted diversified holding company.

Direct peers

• CB Bank: CB Bank is another major Myanmar private commercial bank competing with Yoma Bank across retail deposits, lending, and emerging digital banking offerings in the same market.
• Yoma Strategic Holdings: Yoma Strategic Holdings is the parent group affiliation of FMI and shares overlapping leadership, infrastructure, and group-level strategic decisions; it is the most direct comparable as a Myanmar-focused diversified holding company with shared business lines.
• Kanbawza Bank (KBZ Bank): KBZ Bank is one of Myanmar's largest private banks and a direct competitor to FMI's Yoma Bank subsidiary in the domestic retail, SME, and corporate banking segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FirstMyanmarInvestment
• LinkedInlinkedin.com/company/first-myanmar-investment-fmi-

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Myanmar Investment