Review of the First MEITI Beneficial Ownership Disclosure

2020-03
Category : MEITI Reports

In the perspective of complying with the EITI standard and specific requirements related to the disclosure of the beneficial owners of extractive companies by 1 January 2020, the MEITI requested all 162 companies included in the 4th MEITI report (FY 2016-2017) to disclose their beneficial owners (163 companies are featured on the DICA website since one company has both mining and jade and gems operations). Entities in scope were directed to the DICA website to fill in an online form. The data collection process was open from 28 October 2019 to 8 November 2019 and was preceded by a number of training workshops for the reporting entities and organized by the MEITI National Coordination Secretariat (NCS) and DICA. NCS and DICA conducted an online form test run in Yangon on 18 October 2019 (40 companies attended) and two sessions in Yangon and Mandalay on 1 and 4 November (60 companies attended). Some more instructions and guidance were provided to declaring entities at the start and along the online form.