| Valuation method | Value, £ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | n/a | n/a |
| Intrinsic value (DCF) | n/a | |
| Graham-Dodd Method | 0.80 | 2567 |
| Graham Formula | 18331.70 | 61105567 |
Myanmar Investments International Limited (MIL.L) is a venture capital and private equity firm specializing in investments across Myanmar's emerging economy. Focused on start-up, expansion capital, and buyouts, the firm targets sectors such as hard infrastructure (telecoms, power, utilities, transportation), soft infrastructure (financial services, education, healthcare), manufacturing, tourism, agriculture, and consumer goods. With a flexible investment range of $5 million to $25 million, MIL.L takes equity, quasi-equity, or debt positions, often securing board representation to influence management. The firm avoids large-scale real estate, infrastructure development, and natural resource exploration. Headquartered in Yangon with offices in Singapore and the British Virgin Islands, MIL.L seeks exits via local or overseas listings, trade sales, or share swaps within 5–7 years for financial holdings. Despite Myanmar's challenging economic and political climate, the firm remains a key player in fostering growth in underdeveloped sectors.
Myanmar Investments International Limited presents a high-risk, high-reward proposition due to its exclusive focus on Myanmar, a market fraught with political instability and economic sanctions. The firm reported a net loss of $21.9 million in FY 2022, reflecting operational challenges and macroeconomic headwinds. With no revenue and negative operating cash flow, liquidity is a concern, though negligible debt provides some balance sheet flexibility. The firm’s niche focus on Myanmar’s underserved sectors offers first-mover potential, but geopolitical risks and limited exit opportunities (given underdeveloped capital markets) weigh heavily. Investors should closely monitor Myanmar’s political climate and the firm’s ability to monetize core holdings.
Myanmar Investments International Limited operates in a unique niche, targeting Myanmar’s nascent private equity and venture capital space with few direct competitors. Its competitive advantage lies in deep local expertise, diversified sector exposure, and active portfolio management via board participation. However, the firm faces significant challenges: Myanmar’s political turmoil deters foreign capital, while limited domestic institutional investment restricts funding pools. Unlike regional PE firms (e.g., Mekong Capital), MIL.L lacks geographic diversification, heightening risk concentration. Its small market cap ($3 million) and illiquid LSE listing further reduce appeal versus larger emerging-market peers. The firm’s edge stems from its Myanmar-centric network, but this same focus exposes it to regulatory unpredictability and currency volatility. Without scalable exits (e.g., IPOs on the Yangon Stock Exchange remain rare), MIL.L’s long-term viability hinges on Myanmar’s economic stabilization.