Leadership Team

Mr. JR Ching has served as the Group’s Chief Financial Officer since May 2015 and is responsible for the Group’s financial functions, listing procedures, investor engagement and strategic business development. He manages the Group’s relationships with key financial partners and certain operating partners, including ADB, FMO, CGIF, IFC, Ayala Corporation, Yum! Brands, and Mitsubishi Corporation, amongst others. Since joining the Group in May 2013, Mr. Ching has overseen over US$1 billion of funding and investments into Myanmar.

Mr. Ching graduated as a Morehead Scholar from the University of North Carolina at Chapel Hill with a Bachelor of Arts Degree in International Studies with the Highest Distinction. He then spent over a decade at Goldman Sachs in the Fixed Income, Currency & Commodities, Capital Markets and Investment Banking Divisions in London and Hong Kong, where he was the Head of Structured Finance for the Asia-Pacific ex-Japan region. Mr. Ching has extensive financial and corporate experience in a wide range of business sectors and has executed investing, financing and risk management transactions across Asia, the Middle East, Europe and North America.

Ms. Joycelyn Siow Li Yuen joined the Group in 2008 and has held the position of Group Financial Controller since May 2013. Her principal duty is overseeing the financial reporting of the Group to ensure compliance with the Singapore Financial Reporting Standards (SFRS) and the SGX listing
requirements. She is also involved in the Group’s corporate actions, including capital raising exercises, acquisitions and the realisation of assets. In addition, Ms. Siow is responsible for the technical development of the finance teams and gives regular training sessions to them on SFRS. Since 2022, she has also acted as the corporate secretary for certain subsidiaries of the Group.

Ms. Siow graduated with a Diploma in Banking and Financial Services from Singapore Polytechinc and went on to pursue her ACCA (Association of Chartered Certified Accountants). Prior to joining the Group, she spent 10 years at international audit firms where she led the audit of publicly listed companies and multinational corporations. Besides audit engagements, she was also assigned to other assignments such as internal audit, preparing financial statements for initial public offerings and reverse takeover transactions, and financial due diligence reviews.

Mr. Kenneth See Chin Yeh rejoined the Group in July 2022 and was appointed as Group General Counsel to lead the Group’s legal and compliance functions. Mr. See has overseen the legal aspects of several notable projects at the Group, such as the implementation of the Yoma Central project and the acquisition of the controlling interest in Wave Money from Telenor, amongst others.

Prior to his rejoining the Group, Mr. See was the resident partner for global law firm Baker McKenzie’s
Myanmar practice, where he advised on mergers and acquisitions (M&A), corporate law and Myanmar regulatory and compliance matters. Mr. See also spent time in Baker McKenzie’s Singapore office where he worked on various cross-border transactions across
Southeast Asia.

Mr. See graduated from the University of Manchester with a Bachelor of Laws and completed an Executive Master of Laws (Financial Law & Regulation) with Distinction from the London School of Economics and Political Science. He has a barrister-at-law qualification from Lincoln’s Inn, UK and was admitted to practice as an advocate and solicitor in West Malaysia and Singapore. Mr. See is currently serving as the chair of the British Chamber of Commerce Myanmar’s Legal Working Group.

Ms. Jane Chia has served as Group Treasurer since 2019 and has direct oversight over the Group’s cashflow management and funding operations. She manages the Group’s relationships with its key local and international financial institutions and executes fundraising activities in relation to the banks and international debt capital markets. Ms. Chia joined the Group in October 2015 and served as the Head of Finance of KFC Myanmar for more than 2 years.

Prior to joining the Group, Ms. Chia held several management roles overseeing the financial reporting, treasury and internal audit functions at various SGX listed and private companies. She holds
a Bachelor of Accountancy Degree from Nanyang Technological University.

Ms. Thinn Thandar Shwe was appointed Head of Culture and Corporate Affairs in April 2026. Prior to this role, she served as Head of Group Human Resources from October 2021. She has been with the Yoma group for the past 19 years serving in multiple roles. Ms. Shwe spent 7 years with Yoma Bank and 6 years with the Group’s finance team in Singapore before relocating to Yangon in June 2017 to join Group Human Resources. She was previously the HR Director of Compensation and Benefits.

Ms. Shwe also serves on the leadership team of Yoma Land for Pun Hlaing Estate and StarCity. Ms. Shwe graduated with a Bachelor of Arts Degree from the University of Yangon and has further studied at ACCA (Association of Chartered Certified Accountants) Singapore.

Mr. Michael Toh was appointed as Head of Corporate Finance in September 2023. He has served as the Head of Risk Management and Assurance since 2021 and is responsible for the Group’s risk management, compliance and segmental performance management. He has designed and executed a transformation strategy to align the budgeting and reporting processes across the Group and has implemented a range of preventive, detective and corrective control measures to safeguard assets and prevent fraud. He joined the Group in 2019.

Mr. Toh graduated with a Bachelor of Commerce Degree from the University of Adelaide and has been a qualified Certified Practicing Accountant (Australia) since 1998. He spent over a decade at Schlumberger where he was responsible for overseeing various regional finance functions, including controllership, taxation, treasury and internal audit in multiple jurisdictions such as Indonesia, Australia, Vietnam, Thailand and the USA. Prior to joining the Group, Mr. Toh was an independent consultant for Interplex Precision Technology and served as Head of Finance at Puma Energy (Myanmar).

Ms. Aye Myat Maw was appointed Group Head of Business Strategy in October 2025. She leads the Group’s strategic planning, AI integration initiatives and cross-entity collaboration programmes, driving long-term value creation across the Group.

Ms. Maw began her career with Yoma Strategic in 2012 as an Analyst before serving as Executive Assistant to the Executive Chairman. In 2015, she joined YKKO as a director and also held executive responsibility for business development, marketing, digital transformation and technology. During her tenure, she played a key role in expanding YKKO’s franchise business, as well as modernising its customer loyalty platform and operating systems.

In addition to her role at Yoma Strategic, Ms. Maw serves as managing director of Pocket, Myanmar’s first coalition loyalty programme, and currently sits on the board of YKKO and Pun Hlaing Hospitals.

Ms. Maw holds a Master of Engineering (MEng) in Chemical Engineering from the University of Cambridge.

Myitzu was appointed as Head of Risk Management and Assurance in February 2025. She joined Wave Money in 2022 as Head of Internal Audit and was promoted to Director of Risk & Compliance in 2024.

Prior to joining Wave Money, she spent nine years with KPMG, PwC, and Deloitte across Thailand, Singapore, and Myanmar, specialising in audit, risk advisory, and assurance. Her experience spans a wide range of industries, including financial services, telecommunications, oil and gas, retail, international organizations, etc.

Myitzu is a member of the Association of Chartered Certified Accountants (ACCA, UK) since completing all required subjects in 2019. She holds a Certified Accounting Technician (CAT UK) qualification and has a Bachelor of Arts in English from Myanmar.

Mr. Ben Koo was appointed as the Head of Yoma Fleet in August 2019 and has been with the Group since October 2018.

Mr. Koo has 20 years of experience in working at top-tier financial institutions, including Goldman Sachs, Macquarie, Deloitte and Arthur Andersen.

Prior to joining the Group, Mr. Koo was based in Singapore and was responsible for overseeing investment coverage in Asia as the Co-Head of Pan Asia Financial Institutions Investment Research and the Co-Head of ASEAN Investment Research at Goldman Sachs. Prior to that role, he was the Head of Australia and New Zealand Financial Institutions Investment Research for Goldman Sachs based in Sydney.

Mr. Koo also served as a Non-Executive Director of the Anglican Church Endowment Fund in Sydney where he helped to oversee risk management, asset allocation and corporate governance changes following the 1997 Asian Financial Crisis. Mr. Koo graduated from the Australian National University with a Bachelor of Commerce and Economics Degree in 1994. He was also a member of the Chartered Accountants Australia and New Zealand from 2001 to 2017.

Mr. Arvinder Singh Grewal rejoined Wave Money in July 2026 as the Chief Executive Officer Designate. He previously served as its Chief Commercial Officer, where he helped scale the Wave Money platform to nationwide adoption.

Mr. Grewal is a fintech executive and digital financial services leader with over 25 years of experience building and scaling mobile money and digital payment ecosystems across emerging markets, including the Middle East, Africa, ASEAN and South Asia.

Prior to joining the Group, he was Managing Director and Chief Executive Officer of OneCash, the digital financial services arm of the HSA Group, based in Dubai, where he led the company’s digital financial services strategy across Yemen and Iraq. Under his leadership, the platform expanded to serve millions of users and processed over US$2 billion in annual transaction volume. He also led the company’s US$19 million capital raise, established strategic partnerships across the financial services ecosystem and spearheaded the launch of First Digital Bank in Iraq.

Earlier in his career, Mr. Grewal served as the Chief Digital Officer at blink (Emtel Mauritius) and held leadership roles with Bharti Airtel, Idea Cellular and Telenor, building large-scale distribution ecosystems that supported the growth of mobile financial services.

Mr. Grewal holds an MBA from the University of Pune and has completed executive education in strategy execution at INSEAD.

Mr. Minn Htet Khine was appointed the Head of Yoma F&B in January 2024. Prior to this role, he served as General Manager of KFC Myanmar from February 2022, where he was responsible for leading the KFC business into its next phase of sustainable and profitable growth. He currently oversees the Yoma F&B platform, driving alignment and growth across KFC and YKKO.

Mr. Khine holds a Bachelor of Science Degree in Economics from Duke University where he graduated with High Distinction. In 2015, he joined Delta Capital Myanmar, a Myanmar focused private equity fund where he looked at investment opportunities and managed portfolio companies across various sectors including consumer, manufacturing and information technology. After supporting the Group in its acquisition of a 65% stake in YKKO in 2019, Mr. Khine transferred to the Yoma F&B business unit to facilitate the integration of YKKO into Yoma F&B and to oversee the Auntie Anne’s and Little Sheep franchise businesses.

Mr. Michael Rudenmark was appointed as the Head of Passenger Vehicles in March 2013 and is responsible for growing the Group’s Passenger Vehicles division. He played a pivotal role in securing the Volkswagen and Ducati brands for the Group and worked extensively with the Group’s joint venture partners for the Mitsubishi Motors, Bridgestone Tyres and Hino Trucks businesses.

Mr. Rudenmark has a Bachelor of Arts in Economics from Rollins College. He has lived in Yangon for more than 25 years and has extensive experience in the Myanmar automotive market as the Founder and Managing Director of German Car Industries, a sales and aftersales company started in April 1996.

Ms. Su Myat Wai was appointed Corporate Division Head of Yoma Heavy Equipment in April 2025 and is responsible for overseeing operations and business performance across the Group’s Heavy Equipment division. She joined the company in 2019 as Head of Finance for Yoma Heavy Equipment, where she strengthened financial governance, enhanced strategic planning processes, and improved operational efficiency.

She holds a Bachelor of Commerce from the Yangon Institute of Economics and is a Certified Public Accountant (CPA). With more than 16 years of leadership experience in finance, strategic planning, and corporate operations, Ms. Su has worked across Myanmar’s food and beverage manufacturing, trading, agriculture, and food services sectors.

Mr. Min Min Khaing was appointed Operations Division Head of Yoma Heavy Equipment in April 2025 and is responsible for driving the growth of the Heavy Equipment business and overseeing its strategic planning.

Mr. Min joined Yoma Group in 1999 as a Service Technician and has accumulated more than 26 years of experience in sales, service, and manufacturing processes within the automotive, agricultural, and heavy equipment industries in Myanmar.

Mr. Min holds a Bachelor of Science from Yangon University and an Engineering Diploma (Mechanical Power) from the Government Technical Institute. He is a registered Senior Engineer and member of the Myanmar Engineering Council.