Press Release

ATOM Myanmar Announces Ownership Changes, Reaffirms Compliance and Commitment to Essential Telecom Infrastructure

09 Feb,2024 - Yangon | 2 mins read

• Following Shwe Byain Phyu (SBP) Group’s divestment of shares in Investcom Pte Ltd., the holding company that owns ATOM, and their stepping down from the board of directors, Myancom Holding Ltd. takes over SBP Group’s partial ownership of the network. The divestment process started in December  2023 and was completed in January 2024.
• ATOM confirms that it has no association whatsoever with any sanctioned individuals or entities in any capacity, including as shareholders, ultimate beneficiaries, or members of the executive team.
• The network ensures its strictest compliance with the laws and regulations including sanctions regime.
• Myanmar’s network of choice firmly believes that it should always remain an independent entity, free from sanctions, and in full compliance with all applicable laws and regulations, while advocating for consumer and human rights.

Yangon, Myanmar, 9 February 2024 – Today, ATOM Myanmar Limited (“ATOM”) announced that further to Shwe Byain Phyu (SBP) Group’s divestment of shares in Investcom Pte Ltd., the holding company that owns ATOM, and their stepping down from the board of directors, Myancom Holding Ltd. takes over SBP Group’s partial ownership of the network.

In the same context, ATOM firmly believes that it should always remain an independent entity, free from sanctions, and in full compliance with all applicable laws and regulations, to continue providing essential telecommunications infrastructure and uninterrupted services to the people of Myanmar, while advocating for consumer and human rights.

ATOM Myanmar’s aim is to continue delivering unmatched value and cutting-edge services to its loyal customers and stakeholders, while strictly adhering to legal and regulatory requirements coupled with global best practices. Decisions regarding the network’s operations are rooted in this philosophy, guaranteeing its unwavering commitment to the highest standards of compliance and corporate governance, for it to remain the “people-first”, purpose-led telecommunications provider of choice for millions of people in Myanmar.

ATOM confirms that no sanctioned person or entity is associated with it in any way, manner or capacity at any level either as shareholder, ultimate beneficiary or Management team member.

Thein Win Zaw, Win Paing Kyaw and Tin Latt Min have resigned as board members. In addition, Win Paing Kyaw has resigned as Deputy CEO of ATOM. No new deputy CEO has been appointed yet.

No further changes to ATOM's ownership, board, or executive team are anticipated at present. The network will persist in delivering a broad selection of cost-effective, secure, and world-class digital products and services aimed at enhancing lives, transforming businesses, and supporting communities.

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About ATOM

ATOM is a people-first and purpose-led Myanmar telecommunications service provider. Powered by the nation’s best 4.5G VoLTE network, ATOM offers a wide range of affordable, secure, and world-class digital products and services that improve lives, transform businesses, and strengthen communities. ATOM is dedicated to continuous technological innovation and digital inclusion. Our vision is to propel Myanmar with advanced connectivity for people across the country to experience life beyond better. For more information, visit www.atom.com.mm or connect with us on Facebook and LinkedIn.

For media enquiries, please contact: communications@atom.com.mm