Governance

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Claude FALGON

Chairman

Claude Falgon is the founder of the Advans Group and currently a Director on the Board of Advans SA SICAR.
He has served as chairman of the Board of Directors since February 2005 and as a director since August 2001, and is a member of the Audit Committee and the Nomination and Remuneration Committee.
He holds a Ph.D. in Agricultural Economics from Michigan State University, USA, a post-doctorate in management science from ICG Paris, France, and a master's degree in agricultural economics from INA Paris, France.

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CHEA Phalarin

Board Member

Phalarin was appointed to the board in January 2019. Phalarin has served as CEO of Amret for more than 20 years.
He joined Amret in 1995 as a credit officer and was the first officer to test individual credit. His leadership extends to board roles including the board director of Amret MFI for more than 15 years and of the Cambodia Microfinance Association (CMA).
He is also involved in various institutions including the Rural Development Bank and Credit Bureau Cambodia. Prior to moving to the finance sector, he worked at the Ministry of Agriculture, Forestry and Fisheries.
He holds an MBA from the National University of Management and Utara University of Malaysia and a BBA in agricultural economics from the Economic Science Institute, Cambodia.

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Estelle DARIE ROUSSEAUX

Board Member

Estelle was appointed to the Board in August 2017, and joined Amret as Executive Director in January 2018. She was previously the Deputy Chief Operations Officer for the Advans Group where she headed Financial Services and Rural Outreach.

Estelle started her career in rural development and microfinance in 2003 as field officer for a downscaling program in Romania, before joining Advans International, formerly Horus Development Finance, as a senior consultant in 2004.

Between various assignments for Advans, she was Chief Operations Office for Advans Ghana Savings and Loans, and then in 2013 took up the role of Deputy Chief Executive Officer for Advans Bank Tanzania (now Letshego Bank [T]).

Estelle holds a Master in Agricultural Engineering, specializing inagricultural economics, from the Institut National Agronomique Paris-Grignon, France.

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Steven DUCHATELLE

Board Member

Steven was appointed to the Board of Directors in August 2017, and is the Chairman of the Risk Oversight Committee.

He is an experienced international seniorfinance and operations executive, and currently holds the position of Chief Executive Officer of the Advans Group. His career in financial services spans 20 years, including 16 years in microfinance.

Through various positions in prestigious global financial institutions and consulting firms, Steven has gained solid practical knowledge of both retail banking and microfinance operations from different perspectives: strategy, governance, operations, business development, organization, internal control, and risk management.

He is Chairman of the Board of several Advans affiliates. He holds a Master in General Management, majoring in finance, from HEC School of Management, the leading graduate school of management in France.

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John McGINLEY

Independent Board Member

John was appointed to the Board as an independent member in September 2015. He is a Managing Partner at Mekong Strategic Partners, a locally based Investment and Advisory Firm.

He has worked in Phnom Penh for more than 10 years, first as an independent economic consultant in 2004-07, and then as Head of Strategy for the Greater Mekong Region at ANZ Royal until 2014. On top of his Board membership, John is a member of the Risk Oversight Committee and the Nomination and Remuneration Committee.

He has an MSc in International Development from RMIT University, Melbourne, Australia.

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SRENG Samork

Independent Board Member

Samork was appointed to the Board as an independent member in September 2015. Currently, he is a Business Advisor to Axis Investment Consulting, and in the last 10 years held senior positions at the Foreign Trade Bank of Cambodia and ANZ Royal.

Sreng has held senior management positions in numerous companies and accrued more than 20 years of experience in a broad range of sectors, from fast-moving consumer goods, development and retail banking to airport management.

His strong background and diverse experience have been valued assets for the companies he worked for. On top of his Board membership, Sreng is the Chairman of the Audit Committee and a member of the Risk Oversight Committee.

He has a Master of International Business Administration from West Coast University, USA, and a BSc in Electrical Engineering from California State University, USA.

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Paphon MANGKHALATHANAKUN

Board Member

Paphon was appointed to the Board in September 2015, and is a member of the Risk Oversight Committee.
His more than 18 years’ experience in the banking and finance industry span a broad range of disciplines: corporate finance, investment banking, mergers and acquisitions, debt restructuring, SME banking and finance marketing. Notably, he has 13 years’ experience in SME banking, specializing in business strategy and product design and development.
Paphon has held senior positions in various banks in Thailand including as First Vice President at Kasikorn Bank Plc. and as Chief of SME and Supply Chain at TMB Bank Plc. At Kasikorn Bank he led the team to achieve the prestigious Best SME Bank in Asia award from Asian Banker magazine for two consecutive years.
He has a Master of Business Administration (Finance) from Oregon State University, USA, and a BSc in Industrial Engineering from Chulalongkorn University, Bangkok.

Audit Committee

The Audit Committee is established and chaired by an independent non-executive board member. Its mission is to ensure the effectiveness and efficiency of internal audit tasks and the internal control system, and the adequacy of reporting and decision tools.

The Audit Committee comprises two non-executive board members:

SRENG Samork

Chairperson

Claude FALGON

Member


​​​​​​​The committee meets at least four times a year, and otherwise as required. The duties of the committee are to review internal and external audit functions, monitor the integrity of financial statements, ensure compliance with internal policies, laws and regulations, and review risk management and internal controls in order to provide recommendations for improvement.

Internal Audit Department

The IAD is independent of all Amret’s operations and reports directly to the Audit Committee. Its vision is to be recognized as a professional internal audit body that provides value-added recommendations to management and trusted consultation to the Board. Its mission is to provide professional and independent appraisals of Amret’s activities in order to add value by improving operational efficiency and effectiveness, monitoring internal control systems, and ensuring compliance with policies, laws and regulations.

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DOS Dinn

Chief Executive Officer

Dinn was appointed as the chief executive officer in January 2019. His career at Amret started in 1996 as supervisor of provincial office. He transferred to the Product Development Unit two years later and progressed through the company to become operations manager in 1999 and then chief operations officer from 2008 to 2011. Dinn was appointed as deputy chief executive officer in February 2011 before being appointed as CEO. Dinn holds an MBA from the Utara University of Malaysia, and a bachelor’s degree from the Royal University of Agriculture, Cambodia.

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TAN Youhay

Chief Sales Officer

Youhay transferred to his current post in June 2015.He has been at Amret for 17 years, working his way up through the company from his first job as assistant Supervisor, Kandal Provincial Office, to Supervisor, Kampot Provincial Office in 2001, and then to Head of Operations in 2010.Youhay holds an MA in Economic Science from Donetsk State University, Ukraine.

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Estelle DARIE ROUSSEAUX

Executive Director

Estelle was appointed to the Board in August 2017, and joined Amret as Executive Director in January 2018. She was previously the Deputy Chief Operations Officer for the Advans Group where she headed Financial Services and Rural Outreach.Estelle started her career in rural development and microfinance in 2003 as field officer for a downscaling program in Romania, before joining Advans International, formerly Horus Development Finance, as a senior consultant in 2004.Between various assignments for Advans, she was Chief Operations Office for Advans Ghana Savings and Loans, and then in 2013 took up the role of Deputy Chief Executive Officer for Advans Bank Tanzania (now Letshego Bank [T]).Estelle holds a Master in Agricultural Engineering, specializing inagricultural economics, from the Institut National Agronomique Paris-Grignon, France.

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LIM Sopha

Chief Human Resources Officer

Sopha was appointed Chief Human Resources Officer in September 2016. During her service of 21 years, she advanced from Provincial Supervisor to Chief Accountant and then to Head of Finance, before changing career direction in 2012 to head the Human Resources Department.Sopha is passionate about empowering people to realize their potential and achieve their goals, and has been actively involved in developing and implementing Amret’s Learning and Development Strategy.She holds an MBA from Charles Sturt University, Australia, and a BA in Entrepreneurship from the Faculty of Economics and Science, Phnom Penh.

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​​​​​​​Sajjad KHAN

Chief Information Officer

Sajjad joined Amret in 2019. He has over 20 years of experience in digital and business transformations and global shared services with focus on innovation, growth, productivity and governance. He has extensive international experience - leading diverse organizations in the UK,USA, China, India, Mexico and Europe.Sajjad spent 17 years with GE Capital in various digital leadership roles delivering digital transformation programs, regulatory and audit solutions, ERP & BI solutions, managing global shared services organizations and delivering quality(Lean Six Sigma) programs.More recently, as an Digital Executive Consultant, he delivered multiple digital transformation and business growth programs at numerous UK based organizations. He also served as a Non-Executive Director for a number of public and private organizations. He is passionate about innovation,digital transformation and business growth. He holds a BSc in Business and Management, MSc in Computer Science, Executive MBA and is in the process of completing a doctorate in IT Governance, Risk and Compliance.

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Wee Mun Seng(Alan)

Chief Commercial Officer

Alan joined Amret in 2020,bringing with him 25 years of retail banking experience.He began his banking career with Citibank Malaysia, where he worked for 11 years before embarking on a journey with various financial institutions in both Malaysia and China. Alan has extensive marketing and product experience with credit cards, mortgages, personal loans, wealth management, deposits, customer loyalty programs and structured investments, as well as sales management.Alan worked for UOB China as their Consumer Banking Head and was a member of the pioneering team that proved instrumental in procuring the bank’s remembi operating license in China.He is also well versed in Islamic retail banking, having worked extensively with Al Rajhi Bank Malaysia where he served as their Retail Banking Director.Prior to Amret, he was involved in fintech and unsecured micro financing projects in Malaysia as a project consultant.Alan holds a BSc in Finance and Marketing from Southeast Missouri State University and a MSc in Business Administration from Washington University St. Louis.

Chairman’s Message


Amret was able to respond very quickly when the pandemic hit in early 2020 thanks to close cooperation between the Board and management. Board members were kept directly informed of the events during the height of the pandemic and Board and Management were able to quickly agree on some clear priorities during this time. First and foremost, the safety of our staff and clients was essential, so specific measures were implemented to restrict contact between staff and clients, raise awareness on protective measures, and where possible enable staff to work from home. With disruptions in value chains and movements and the overall slowdown of the economy, many of our clients were plunged into financial difficulties because of the crisis. Amret looked to offer them more flexible repayment conditions, with an active policy to offer grace periods to the most vulnerable clients. We also implemented cautious policies on loan disbursements and reduced growth objectives on the loan portfolio to diminish risk for our clients and for the company. Amret focused on maintaining a responsible stance in the market, concentrating on supporting its current clients and responding to their needs during the crisis.

The institution also worked on maintaining strong liquidity buffers. Amret informed its financial partners of its situation at a very early stage, before they were aware of the magnitude of the crisis, and received full support from its financial partners, lenders, and shareholders. This has put Amret in a strong financial position.

These decisions resulted in a relatively successful year for the institution, despite the difficult circumstances. Amret was able to protect its staff and clients from the crisis, offering clients additional support where necessary. Thanks to a cautious approach, credit risk remained stable and Amret continued to maintain its stance as a leading responsible player in the industry. We were also able to control our expenses without cutting investment in digitalization for the future. Although Amret’s financial performance was certainly not what would be expected in a normal year, performance remained strong thanks to judicious management of the situation, ensuring capitalization ratios and providing comfort to lenders.

We made the important decision to maintain the momentum on our strategic Amret + project which was confirmed as necessary to reinforce Amret’s position on the market in the long term. The project became even more relevant considering the importance of digitalisation during the crisis and is essential for the company’s future growth. Amret continued to invest each of the four strategic pillars of the programme client, product, people, process and technology over the year. The institution will now look to further enhance its strategic digital priorities to take it to another new level to support business growth, client centricity, efficiency, data quality and better risk management.

Amret can look back on this exceptional year as one of extraordinary achievements. The good performance of the institution during the worst economic crisis since its creation can be credited to the fact that the management, Board and shareholders are aligned and focused on the same priorities. These include providing tailored services to MSMEs and low and middle-income populations, to enable them to grow, while ensuring that Amret maintains responsible lending practices as well as promoting an inspiring model of management to guarantee staff commitment to Amret’s mission and vision and using technology to improve efficiency and the customer experience.

To conclude, I would like to thank and congratulate all staff and management for their commitment and performance during the year. I would also like to thank to my fellow board members and Advans group staff for their time invested in supporting the management during the crisis. Finally, I would like to express my gratitude to shareholders for their understanding and financial support.

​​​​​​​Looking forward to its 30th anniversary in 2021, Amret can be proud of its journey and status today as a strong and stable institution devoted to serving its clients responsibly.

Claude FALGON
Chairman, Amret