Chairperson, Novetex Textiles
Yoma Strategic Holdings
By 2012 Melvyn Pun had carved out a career as an investment banker, but a visit to his parents' homeland of Myanmar persuaded him to take a different tack and join the family business.
That business happened to be one of Myanmar’s largest. Pun’s father Serge is the founder of a wide-reaching conglomerate with interests across automotive, real estate, infrastructure, agriculture, and banking. One of its businesses, First Myanmar Investment, was the very first company to list on the Yangon stock exchange in 2016.
Once back in the family fold, Pun took over leadership at the Singapore-listed Yoma Strategic Holdings in 2015. The ex-Goldman Sachs banker is passionate about the increasing investment opportunities in Myanmar, still one of the region’s least developed economies, especially those in emerging business sectors.
In June, Pun upped his interests in the country’s fledgling fintech sector, taking a controlling stake in Wave Money, one of Myanmar’s leading mobile financial services players, buying out Norwegian telco giant Telenor for a reported $75 million.
“Only a quarter of Myanmar’s population have access to formal financial services, but with the rapid adoption of digital products and wide internet penetration, we believe Wave Money can transform the livelihood of the mass population as many start to embrace digital payments in their daily lives,” Pun tells Business Insider.