Tuesday, July 25, 2017

Capital Diamond Star Group receives honour from World Economic Forum

Domestic conglomerate Capital Diamond Star Group (CDSG) is one of the first Myanmar companies to be chosen as a Global Growth Company by the World Economic Forum (WEF), according to David Aikman, head of new champions at the WEF.

Firms are selected based on their leadership potential in the global economy, with criteria evaluating the firm’s market position, leadership, business model and growth rates, a WEF statement said.

“Capital Diamond Star Group is a dynamic group with clear potential to shape the future in its relevant business sectors,” Mr Aikman said in the statement.

The group operates 13 Myanmar business entities in a variety of sectors, including a number of well-known brands.

It operates two Capital Hypermarts, – in Yangon and in Nay Pyi Taw – Gems Garden Condominium, Capital Life insurance, and is involved in the sale of a variety of products including rice, maize, Premier coffee, Diamond Star flour, and Ford vehicles. The firm also claims more than 5500 employees.

Capital Diamond Star Group chief financial officer Lim Chong Chong said inclusion in the selective group will assist the firm with achieving its long-term vision to be a major regional enterprise.

“It will support our aim to be the preferred business partner of choice among foreign companies seeking opportunities in Myanmar,” he said.

Headed by prominent businessman U Ko Ko Gyi, the firm said it is now part of a select community of companies honoured by the WEF, including 360 members from 70 countries.

Myanmar’s Caterpillar dealer Myan Shwe Pyi Tractors was also selected to join the group.