KBZ Group of Companies Continues Transformation of Portfolio to Focus on Financial Services and Digital Industries in Myanmar

July 2024 — As digital transformation continues to restructure businesses across the world, KBZ Group of Companies Limited’s shareholders (‘the Shareholders’) have transformed their portfolio by exiting legacy industries such as mining and aviation and instead have invested in the financial and digital services critical to Myanmar’s future.

KBZ Group of Companies Limited comprised of companies owned by the shareholders of KBZ Group. Shareholdings were held by individuals (of the same family) and collectively known as the KBZ Group.

As a new generation of leaders and shareholders emerged the task to exit legacy businesses and shift toward businesses that focus on people’s overall well-being and prosperity through digital inclusion, financial inclusion and healthcare inclusion is now well under way.

The shareholders of KBZ Group have been making progress on exiting various businesses since 2017. Progress on this task has allowed the shareholders to focus on new business development via conception and buildout of new business concepts and through investment in existing digital businesses and, expansion/growth of their core financial services business KBZ Bank and KBZPay.

The focus now for the KBZ Group of companies is to deliver ground-breaking digital technology in the healthcare, financial services and digital economies to make the lives of people in Myanmar and similar developing nations better.

In summary, KBZ Group shareholders have exited; Jing Hpaw Aung Jade & Jewellery Company Limited, Nilar Yoma Gems Company Limited, Myanmar Airways International, Brighter Energy and Air KBZ (as noted on the company’s DICA Pages). On January 6, 2024, the final shares of Air KBZ was transferred to the new owner who subsequently rebranded Air KBZ to Mingalar Aviation Services.

All our stakeholders, including our partners, customers, and the local and international community, are important to us and we are committed to provide comprehensive information about our businesses.

If you have any questions, please do not hesitate to contact corporateaffairs@kbzgroup.com.mm .