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.

Board of Directors

Our Shareholders

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We are lead by a team of experienced finance and business professionals, whose sound judgement are important drivers of our business. They are dedicated to nurturing Fullerton Myanmar into an institution that will endure.  

Ms Sita Ramaswami

Ms Sita Ramaswami has more than 20 years of investment experience in emerging markets at the IFC and World Bank, and managing multi-disciplinary investment teams. Through her 23 years with IFC, Ms Sita’s regional coverage include Asia, Africa and Emerging Europe.  She worked with clients from government agencies, central banks, state-owned companies, and privately-owned companies, ranging from MNCs, to local conglomerates, financial institutions and small enterprises.
Ms Sita’s Finance Sector experience include privatization of large banks, restructuring banking groups and pioneering banking projects in IFC.Her Private Equity experience includes setting up a venture capital fund in Africa, setting up and managing funds in Southern and Central Europe, and managing a global fund for SMEs in post-conflict countries.Ms Sita is currently an IFC-Nominated Director on boards, including Insurance, banks and funds.

Mr Teo Meng Poh Philip

Mr. Teo has more than 24 years of experience in both Consumer and Corporate Banking spanning frontline consumer banking, audit and credit/portfolio risk management. Mr. Teo joined FFH in January 2011 as Senior Vice President of Risk Management, responsible for Credit & Operational Risk as well as audit matters of FFH’s entities including Pakistan, India, China, Vietnam, Cambodia and Myanmar.

Prior to joining FFH, Mr. Teo was with Standard Chartered Bank Group where he spent six years as Head of Audit, Wholesale Bank – Origination & Client Coverage & Corporate Finance (responsible for the audit coverage of SCB Group’s global business in Corporate Banking and Corporate Finance) and subsequently as Wholesale Bank Head of Corporate and FIs policy and process.

Mr. Teo started his banking career with Oversea-Chinese Banking Corporation as a Trainee Bank Officer and spent more than 12 years with the Bank in various roles, including Senior Audit Manager, Head of Credit & Marketing, Shanghai and Head of Credit & Marketing, Thailand.

Mr Siva Prakash Shanugam

Mr Prakash is the Group Chief Strategy and Innovation Officer of CDSG, where he joined in 2016 as Group Financial Controller, and later became Group Chief Financial Officer.
Prior to joining CDSG, he spent over six years at a Malaysian company in the structural steel construction industry, where he successfully completed its listing on the Malaysian Stock Exchange in 2011, and went on to handle various other roles, including setting up the Investor Relations and Treasury departments, as well as implementing a new ERP system. He started his career in at Advanced Micro Devices in Penang, and later joined Dell Computer Corporation, where he spent five years taking on various Finance functions, and eventually became Asia Pacific Product Marketing Director.
Mr Prakash graduated from Deakin University in 1991 and completed his certification under the Australian Society of Certified Public Accountants in 1993.

Ms Maxine Chen (Chen Ming Shing)
Managing Director

Maxine has more than 20 years of experience in financial services. She joined FFH in January 2003 and was seconded to PT Bank Danamon Indonesia for 3 years as Senior Vice President, Financial Planning & Control.  She is currently Senior Vice President, SME & Commercial Banking in FFH, responsible for business performance of FFH’s investments in Myanmar, Cambodia, and other ASEAN countries, plus coverage of India.  She has also spent time as Interim CFO in Fullerton Credit Services, China, a microfinance institution based in Chengdu, China.  

Before joining FFH, Ms. Chen was with Temasek Holdings as part of their Strategic Development Group for Financial Institutions. She started her career with Ernst & Young, London, where she worked for 5 years in the International Capital Markets Group, qualifying as an ICAEW Chartered Accountant. She graduated from the University of Oxford with a BA in Physiology, Psychology and Philosophy.​

Fullerton Financial Holdings Pte. Ltd. (FFH) is a Singapore based company that invests in, and operates financial institutions in emerging markets.  FFH creates shareholder value by differentiating through great people, disciplined development and execution of unique business models that focus on the SME and mass market customer segments.  FFH is a wholly owned subsidiary of Temasek Holdings (Private) Limited, an investment company based in Singapore. 
Founded in 1960, Capital Diamond Star Group (“CDSG”) is a leading Myanmar Conglomerate.  CDSG is engaged in a number of different sectors in Myanmar, including: food manufacturing and distribution; agribusiness; retail; real estate development; construction; pharmaceutical; financial services; automotive; cement; and telecom services.   In the Food sector, CDSG activities have developed to cover the entire value chain, including an extensive and multi-channel nation-wide distribution network covering more than 90% of the country as well as the Capital Hypermarket and Grab & Go convenience retail outlets.   With the launch in 2013 of its flagship Capital City mixed-use development in Yangon, CDSG is fast gaining recognition as a major real estate developer as well.  Currently, the company has more than 6,500 people.