For Company Release: COO Yap Kwong Weng gave a vibrant new year’s message emphasizing on new systems and policies. He highlighted new inclusions to our policies and restated Parami’s zero tolerance to corruption. He encouraged employees to come up with new ideas and work towards greater change amid exciting times in Myanmar.
Dear Colleagues of Parami Energy Group,

Here’s wishing all a happy and blessed new year ahead.  In this time of celebration and recollection, I like to highlight some achievements and challenges that happened throughout the year.  First of all, I am happy to announce that there are no safety breaches and accidents in our operations for the year.

With CEO Ken Tun’s leadership and your support, we managed to expand our business lines, strengthen our operations and overcame a financial crunch that nearly engulfed us.  We were down but not out.  Amid tough times, we tested our systems, implemented new employee performance evaluation and reiterated our zero tolerance for corruption via educational awareness.  There is no replacement for the rule of law.

We became stronger in this time of change.  We took on new projects, from gaining major operatorship for oil block PSC-I to bidding for Myanmar’s first deep sea port in Kyauk Phyu to delivering critical power generation equipment and expanding our CSR efforts in rural community engagement.

Structurally and financially, we developed a strategic concept to restructure and optimize our business lines, and are in the process of compiling our audited accounts to achieve international standards in our financial reporting.

Among other projects still in the pipeline, the following new initiatives have been implemented:

1. Development of New Human Resource Policy.  As of 3 Feb 2015, a new HR policy was developed to standardize processes in the HR domain.  These policies are aligned to the principles of the UN Global Compact initiative and Global Dignity, and is designed to follow Myanmar law.  With a focus on non-discrimination, the policy reflects employment policies that focus on recruitment, remuneration and redress procedures.  (See Annex A)
2. Awareness & Training Program for Human Rights, Transparency and Anti-Corruption.  Three training sessions on human rights, transparency and anti-corruption were conducted on a quarterly basis since 2014.  In order to ensure full awareness and feedback of the policies, we implemented a policy where all employees regardless of rank to take a policy test concerning the above subjects. Over 90 percent of employees from the group have passed the policy test.  In addition, there are consultation sessions to ensure that no one is left out in the implementation process. See http://parami.com/news/policy-implementation-brief/
3. Inclusion of Addendum to Transparency Policy.  New implementation on HSE policies and procedures has been included.  The purpose of this addendum is to reflect new changes in our reporting standards in HSE. (See Annex B)

This year, we will achieve much more in a more systematic manner without compromising on our values.  On behalf of the management of Parami Energy, I like to thank you for your dedication and hard work. May we steer blue skies with stronger wings.

Yours sincerely,

YAP KWONG WENG

Download New Year Message from COO

Download HR Policy (Myanmar Version)

Download HR Policy (English Version)

Download Addendum to HSE and Human Rights Policies