YANGON/SINGAPORE, 11 January 2021 – Ascent Capital Partners Pte Ltd, a Myanmar-focused private equity firm, today announced the further strengthening of its team with the appointment of Mr Stanley Kyaw Khaing and Mr Yeo Chee Kian as Managing Partners.
“The addition of Stanley and Chee Kian completes Ascent Capital’s team building process, which we began in 2019. With the perspectives and the expertise that they offer, we look forward to stepping up our investment pace in 2021, as well as expanding our focus in the logistics sector,” said Mr Lim Chong Chong, Founder and Managing Partner.
Ascent Capital has identified logistics as a new core sector for 2021-2022, adding to its current five core sectors – consumer, education, financial services, healthcare, and telecommunications, media and technology (TMT).
Stanley is a Myanmar-born legal professional with over 13 years of experience gained in Myanmar and North America. A licensed barrister and solicitor in Canada, he was in private practice as an intellectual property lawyer focusing on technology and software patents, before returning to Myanmar in 2014.
Stanley was previously Director of Corporate Affairs and Planning at a telecommunications infrastructure company, where he oversaw legal, regulatory, government relations and CSR functions. He has also held the role of Group General Counsel at a leading Myanmar conglomerate, where he supported efforts to establish foreign-local joint ventures for the expansion of the Group’s businesses.
“Myanmar continues to be an exciting market in many aspects,” said Stanley. “I am honoured to join Ascent Capital and look forward to investing in and partnering with Myanmar companies and contributing to Myanmar’s development.”
Chee Kian has over two decades of experience in financial services, where he has worked for HSBC, Macquarie, Deutsche Bank and Temasek in the financial centres of London and Singapore. He has extensive experience in investments and portfolio management, with deep knowledge of the transport, logistics and infrastructure sectors. He also brings with him a credit structuring background.
In his previous roles at Temasek which he joined in 2010, his responsibilities included origination for infrastructure investments across Southeast Asia and China as part of an Asia Pacific partnership with a global private equity firm, and helping to manage the global transport and logistics investment portfolio, including driving value creation for companies such as Singapore Airlines and PSA.
Chee Kian said,“I am delighted to be joining Ascent Capital at this exciting juncture of both the firm and Myanmar’s development and look forward to working with Chong Chong and Stanley to grow Ascent Capital to become a leading domestic and regional platform in the years ahead.”
The announcement comes on the back of Ascent Capital’s inaugural Investor Conference in December 2020.
The online event was attended by over 170 senior executives from Myanmar and overseas, including the Guest of Honour, His Excellency U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, who discussed Myanmar’s positive economic outlook.