UMG and WinfinanceUMG and its diverse business units have been established since Myanmar government started implementing the nationwide special projects to enhance the development of the whole country. UMG Group of Companies was founded in 1998. Sales, Maintenance, Hiring and Remanufacturing are the main pillars of our organization. Sales, Maintenance, Hiring and Remanufacturing are the main pillars of our organization. On the 14th Anniversary of UMG, we were awarded with ISO 9001:2008 certification. We have approximately 3000 strong UMG-ians behind us, spread across the country, operating in our Head Office, 50 branches, and growing. UMG is now standing as a great industry leader who provides the best services and has acquired the satisfaction of the customers. We are taking part significantly in major projects but also participating in other fields such as Education, Health, Religion and Social Humanitarian activities. UMG is and will always be actively working towards the well-being, prosperity and progress of the nation and its people.
Financial ServicesIn response to the various reforms that are now taking place in Myanmar, the internationally-imposed economic sanctions have been lifted in recent years. Since then, Myanmar has been moving forward at significant pace. It is now a country that attracts prominent entrepreneurs and investors, both local and overseas. The financial industry in Myanmar has some way to go to reach the maturity needed to meet international standards. UMG is committed to lead and strengthen the sector by applying operational excellence and integrated service systems. This will ensure customers are provided with straight forward and effective financial solutions. By maintaining customer focus and with a network across Myanmar and overseas, UMG is determined to bring leadership to this sector.
Win FinanceOne of UMG’s diversified business units, Win Finance is the first multi-finance services company to offer comprehensive financial solutions. Win Finance provides financial services that include Hire-Purchase programs for heavy equipment, trucks, buses and agricultural vehicles and equipment. In the near future, Win Finance will expand its services to offer other consumer products such as housing and automotive loans as well as business loans to Small and Medium Enterprises. In addition to the multi-finance and lending areas, Win Finance also provides Foreign Exchange Risk Management Services
Financial SolutionChallenges on financing to local business lie ahead in Myanmar including but not limited to the fact that:
- Distributors provide financing with high lending cost and also high exposure due to customers’ needs of financing. However, this process is more flexible compare to banks and customers’ lack of qualifications to apply banks’ financing. It goes both ways, either customers will take the facility due to no other choice which eventually may impact on their cash flow or, look for lower quality product with affordable price.
- Banks require debtors’ guarantee (some cases second guarantor required due to customers’ default payment), large down payments, and additional collateral.
- Interest is paid upfront for the whole term and accounted upon 100% of equipment value.
- Banks focuses more on branch development and networking compare to such financing.
- Bank’s process lead time starting from application, getting approval to disbursement in most cases take long time causing customers undergo opportunity loss and in some cases causing capital flight to nearby countries with better investment atmosphere.