First Myanmar Investment Company (FMI) has announced plans for expansion in four sectors of Myanmar’s economy before the end of the current fiscal year, on the back of the conglomerate’s highest ever profit results.

Chairman Serge Pun told investors at FMI’s 22nd annual general meeting that the company would be expanding its operations in four of its existing business areas, including real estate, healthcare,
aviation and banking.

FMI’s net profit doubled in the last fiscal year to K3.02 billion (US$2.81 million), the best result ever recorded by the company. The company’s total capital rose to K27 billion (US$25.12 million) over the same period, with the FMI’s total assets currently valued at K73.4 billion (US$68.28 million).