Pyi Wa Tun (Ken Tun)
Birth: 3 July 1974
Source of wealth: Parami Energy Group of Companies
Address: 14-02, 15-07 Sakura Tower, Sule Pagoda Rd, YYANGON
Business: Oil & Gas, Power, Construction, Services for Event Management and Travel & Tour
Pyi Wa Tun founded Parami in 2004 and managed its establishment in various industries. His areas of expertise include finance, steel, cement industries, oil and gas exploration and production and development. He has written widely on issues concerning the energy sector and is viewed as an expert in this field.
“Unless we balance on increase in foreign investment and energy production with the development of the domestic market, there is a risk that growth will be unsustainable.”
Pyi Wa Tun is famous as a young CEO and respected for his gentle manners. He was born into the family of government employees and grew up in Yangon. He graduated from the Rangoon Institute of Technology, Electric Engineering major, continuing to complete his MBA study at the National University of Singapore. He worked in Singapore until 2003 and returned to Myanmar to help improve the development of the country.
He established Parami Energy Group of Companies in 2004, starting with machinery engineering service for cement companies, operated under the Myanmar Economic Corporation. In 2009, Parami Energy decided to step into Myanmar energy industry. The main business of the group is electrical power generation and the petroleum exploration and production. Companies in the group include Parami Energy Services, Parami Energy Engineering & Construction, Parami Energy Development, Parami Energy Trading and Green Future Parami Energy.
Today, Pyi Wa Tun serves as the President and CEO of the Parami Energy Group of Companies, with over 200 employees in Myanmar and Singapore, serving the financial, steel and cement industries, petroleum industry related services, petroleum and natural gas drilling, energy sector investments and development projects of Myanmar. The company has also won the Kyauk Phyu – Kunming crude oil pipeline project between Myanmar and China.
The company is operating two oil platforms in Myanmar’s offshore blocks and one oil platform in Hinthada, Ayeyarwady Region. Parami Energy also have 50% authority each in Bago PSC-I and Dawei PSC-J oil platforms. They also won the auction to rent the Thanlyin energy port – Myanmar’s only energy port – to support the government’s energy saving ambition to import LPG (Liquefied Petroleum Gas) for domestic household use. Parami Energy imports 4,000 tons of LPG per month to reduce the use of firewood and charcoal.
Parami Energy Group of Companies has also formed an alliance with India to import diesel. During a recent visit by the Indian Prime Minister to Myanmar, Parami Energy Group of Companies were praised for working together with India Numaligarh Refinery Limited to import diesel across the cross-border road. The group is also working on diesel import to Northern Myanmar and Bangladesh.
Only 30% of Myanmar has access to electricity and rural areas and many small villages are still without reliable electricity supply. To solve this problem, Pyi Wa Tun’s Parami Energy Group is setting up mini grids to supply rural electric power and the group is aiming to provide electricity to one million rural households. Parami Energy Group of Companies and Magwe Regional Government have signed an MoU with French State owned EDF for an ASEAN project, ‘Access to Electricity and Rural Electrification’, which aims to provide electric power for over 8,000 village houses. Pyi Wa Tun is seeking for similar projects for other rural areas through the international companies.
Pyi Wa Tun founded Pillar of Truth Think Tank Group to support the business development of Myanmar, headed by Dr. Myo Thet, a former officer of Asia Development Bank. He received the 2015 ASEAN People Award and his Parami Energy Group also achieved Global Growth Company Award at the 2015 World Economic Forum.
In philanthropy, Pyi Wa Tun devotes his time to education in villages. He founded Pyin Nyar Da Na Foundation to support monastic education – the main education provider for village children in Myanmar – with more than 300,000 children from poor families studying in monasteries. He gathered 1,600 local monastery schools and hosted conferences, discussing about current educational affairs and how to focus on Child Centred Approach. He was awarded “Lawka Lankara” for supporting the establishment of Monastery School Association. He is also active in environmental conservation and has planted over 500,000 trees in Myanmar.
In 2017 Pyi Wa Tun achieved the Young Global Leadership Award at the World Economic Forum and was also the first Myanmar citizen to be named on the 2017 Heroes of Philanthropy List. From 2014, he has led awareness seminars in Myanmar to encourage better understanding of advantages and opportunities in the ASEAN economic community (AEC).
Pyi Wa Tun is among those who seek better transparency in local companies to welcome more foreign investments in Myanmar. Parami Energy Group of Companies is selected as Myanmar’s 2nd most socially responsible and transparent company in MCRB Report 2014 and ranked 1st in Myanmar Energy Sector. The group has been working with foreign companies including AERZEN, AGGREKO, AUMUND Group, CGG Veritas, EDF, ERM Power, Honeywell, Jubilant Energy, Kurita Water Industry, Neway Valve, Ophir Energy, PV Drilling, Petro Eiorentini S.P.A, Punj Lloyd, Qualitech, Sinosteel, Siren, Unozawa, Weatherford International and Hanwa.