Serge Pun
Serge Pun (U Theim Wai): Myanmar’s Business Tycoon
Early Life and Background
Serge Pun, also known by his Burmese name U Theim Wai, was born in 1953 in Rangoon (now Yangon), Myanmar. His early years were marked by upheaval; following the 1962 military coup, his family relocated to Beijing. During the Cultural Revolution, Pun was separated from his family and sent to a re-education camp in Yunnan province, where he spent four years working on infrastructure projects under harsh conditions .
Career Beginnings
At 21, Pun moved to Hong Kong, starting his career in real estate sales. He founded Serge Pun & Associates (SPA) in 1983, initially focusing on property ventures. In 1991, he returned to Myanmar, establishing SPA Myanmar and later founding First Myanmar Investment (FMI) in 1992, one of the country’s first publicly traded companies .
Business Ventures and Achievements
Under Pun’s leadership, SPA expanded into various sectors, including banking, real estate, healthcare, and agriculture. Notably, he founded Yoma Bank in 1993, one of Myanmar’s first private banks. In 2006, he led Yoma Strategic Holdings to a successful listing on the Singapore Stock Exchange .
Recent Developments
In June 2024, Pun was detained along with other executives from Yoma Group for alleged violations of financial regulations. Subsequently, he stepped down from leadership roles in over 100 companies, including Yoma Strategic Holdings and Memories Group, appointing his eldest son, Melvyn Pun, as his successor .
Personal Life
Pun is married to a Hong Kong native and has four sons: Melvyn, Cyrus, Ivan, and Sebastian. He has been involved in various social initiatives in Myanmar, including the Myanmar Business Coalition Against AIDS and the Yangon Heritage Trust .
Legacy
Serge Pun’s journey from a challenging childhood to becoming a prominent business figure in Myanmar underscores his resilience and entrepreneurial spirit. Despite recent legal challenges, his contributions to Myanmar’s economic landscape remain significant
