With the intention of promoting and developing SME businesses in Myanmar, EFD GROUP also providing microfinance services by EXCELLENT FORTUNE MICROFINANCE COMPANY LIMITED ( EFM ) and BRIGHT PEARL MICROFINANCE COMPANY LIMITED ( BPM ).
EXCELLENT FORTUNE FINANCE COMPANY LIMITED ( EFFCL ) is one of the 29 finance companies licensed to operate in Myanmar. EXCELLENT FORTUNE FINANCE COMPANY LIMITED ( EFFCL ) is providing loan services to the public without receiving any cash deposits for purchasing of goods and services.
Farmers Development Bank – Mandalay (FDB Bank) aspires to become a top-tier, digital-first, SME-focused commercial bank in Myanmar. The bank received its provisional approval from the Central Bank of Myanmar (CBM) in early 2020, and commenced operations as a full commercial bank in December 2021.
In order to provide clients with fast and transparent banking services, FDB Bank will deploy cutting-edge banking tools such as digital onboarding, biometrics registrations, and automatic credit analytics. To accomplish this goal, the bank has selected and is deploying one of the latest core-banking technologies available on the market.
As part of the financial services platform under the Excellent Fortune Development Group (EFD GROUP), which includes Life and General Insurance, Finance, and Microfinance licenses, the senior management is positioning the bank to become the distribution engine of various financial products across Myanmar.
In 2013, EFD GROUP was awarded the comprehensive life and general insurance licenses with EXCELLENT FORTUNE INSURANCE COMPANY LIMITED becoming one of the first private enterprises in Myanmar to hold these licenses with a registered capital of MMK 46 Billion.
Following the instruction of Myanmar Government to operate private life insurance and private general insurance separately in order to promote private insurance sector, EXCELLENT FORTUNE LIFE INSURANCE COMPANY LIMITED ( EFIL) and EXCELLENT FORTUNE GENERAL INSURANCE COMPANY LIMITED ( EFIG ) are formed to manage the life and general insurance respectively.
At present, there are 24 private insurance companies in Myanmar, including 16 life insurance companies and 8 general insurance companies. In 2019, Myanmar government issued 5 foreign life insurance licenses to further liberalize insurance market.
EFD CENTER Project is located at the junction of Maha Bandula Road and Thein Phyu Road, Botahtaung Township, Yangon Region, is only 800 meters away from Sule Pagoda, the central area of Yangon.
The project has a total site area of 3 acres, will be developed into modern landmark of Yangon City and 1,200,000 sqft commercial complex with shopping center and residential apartment. The construction will begin in early 2022 and expected to finish in 2024.
EFD ECO BUSINESS PARK project is located at East Dagon Township in outskirt Yangon, junction of Highway No. 2 and Highway No. 7. The project has a total site area of 550 acres, comprises of light industrial park, commercial and residential space and is expected to be completed within 5 years.
Fortune Commercial City is a mixed-use development project located at No. 8, Corner of Bayint Naung Road and Say War Setyon Street, West Gyo Gone, Insein Township, Yangon Region. This project is developed by First Golden Dragon Construction Co., Ltd., a subsidiary of EFD Group.
Fortune Commercial City is strategically located adjacent to the Bayint Naung Auto mobile Parts Wholesale Market and the Bayint Naung Wholesale Market, which serve as the central trade and distribution hubs for Yangon and Myanmar. The project also features a jetty, enabling extensive use of both land and waterways for the efficient transportation of goods.
The project includes 3-storeies shophouse (hall type) buildings, each equipped with bathrooms and restrooms on every floor. Additionally, an international shopping mall will be part of the project, enhancing its suitability for mixed-use purposes.
FORTUNE PLAZA, located at the corner of Min Nandar Road and Thumana Street, Tharkayta Township, Yangon Region, on a site area of approximately 16 acres, is one of the major real estate development project undertaken by EFD GROUP. FORTUNE PLAZA is planned as a business park which includes MYANMAR EXPO, currently the newest and one of the largest exhibition hall in Yangon and commercial center with shop-houses. The project broke ground in 2015 and construction was completed in 2018.