ICM, a subsidiary of ReEx Capital Asia, provides infrastructure development capital as well as a range of services including originating, developing and financing highly developmental and commercially viable infrastructure projects in Myanmar. We create de-risked investment opportunities to increase access to infrastructure for the people of Myanmar and to stimulate investment from domestic and international financiers and financial institutions. 

ICM’s development activities in Myanmar are currently funded by InfraCo Asia Development (IAD) – a commercially managed infrastructure development and investment company that funds pre-financial-close, early stage infrastructure development activities by taking an equity stake in sustainable infrastructure projects. IAD is a member of the Private Infrastructure Development Group (PIDG). This Myanmar programme is exclusively funded by UKAid. 



With offices in Yangon and Singapore, our team has extensive expertise in international finance, project management, community engagement, environmental conservation and compliance, health and safety, project engineering, as well as financial and administrative support — all with a strong local network.



Managing & Board Director

Yanis brings 21 years of financial and technical experience in the energy sector in Asia and Europe, including leadership roles in infrastructure project development and project finance in frontier markets, financial advisory and M&A. After a career at EDF, the French utility, with a last role as co-Director for M&A operations, Yanis set up his own advisory firm in Singapore. In 2013, he took the lead of ReEx Capital Asia. In 2015 he set up and led ICM in Myanmar and in Singapore, to finance the development of infrastructure projects. Yanis is a Chartered Engineer in Computer Science and is a CFA Charterholder. He also pursued the Entrepreneurship Programme at IMD.



Board Director

Frédéric has 18 years experience in emerging markets in roles ranging from engineering, business development, strategy, project finance, M&A, private equity to general management. Frederic brings his experience of serial-entrepreneur in low carbon technologies and capital raising. He co-founded ReEx Capital Asia in 2006 and BeeBryte (a SaS to reduce electricity bills) in 2016. Frederic is a Chartered Engineer and hold an MBA from INSEAD.



Vice President

Marcus is in charge of the development of ICM’s portfolio of wind power projects in Myanmar, with 8 years of experience in capital raising, financial structuring and consultancy for solar, wind, biomass, energy efficiency and waste to energy projects within South East Asia. He received an MBA from National University of Singapore in 2015, specialising in corporate finance and operations management. Prior to that, he was a naval combat diving officer within the Singapore Armed forces, where he served for 10 years.



Investment Director

Georges joined ICM in mid-2016 when he became in charge of ICM’s hybrid rice project, which has been successfully divested in November 2018. Georges is responsible for assessing and structuring impactful and commercially viable project opportunities for ICM as well as raising capital for current projects under development. Previously, Georges worked for six years in corporate and private banking roles in the Benelux. He also authored a thesis on sustainable business models for “Bottom of the Pyramid” markets, supported by on-site research in Gabon, Central Africa.



Finance Manager

Briana joined ICM in February 2020, where she manages the accounting and corporate secretarial functions of ICM’s projects.
She is a member of the Myanmar Institute of Certified Public Accountants. She has a Bachelor of Commerce degree from the Yangon Institute of Economics, as well as a CPA from Myanmar Accountancy Council and a Diploma in Taxation from Association of Taxation Technicians Singapore.
Prior to joining ICM, Briana worked at the Auditor General Office and various private companies in Myanmar. Thereafter she worked at the KPMG audit firm and the local audit firm in Singapore where she provided accounting services to the clients and a private investment holding companies. She also has experience working in a global logistics company in New York.


Finance Manager

May joined ICM in November 2018, where she manages the finance and accounting functions of ICM’s Singapore and Myanmar. Prior to joining ICM, May worked in CPA offices providing accounting, tax services and special audits to the clients, and shipping companies in Singapore and subsequently in New York.

She is an ASEAN CPA, chartered accountant and member of the Association of Chartered Certified Accountants (ACCA) and Institute of Singapore Chartered Accountants ( ISCA). She holds a Bachelor of Economics from Yangon Institute of Economics and Diploma in Accounting from Myanmar Accountancy Council.



Lead Project Developer

Tin Min Latt has over 8 years’ experience with financial and technical expertise in the energy sector in Myanmar. He focused on gas fired power plant projects and renewable energy projects such as wind and solar. He received his Master’s from the Indian Institute of Science in 2004 as well as an MBA from the Yangon Institute of Economics of Myanmar in 2018.

He was previously involved in commissioning projects that had capacity of 273 MW, including gas fired and waste to energy power plant. He has been involved in wind resource assessment and wind power project development in Myanmar since 2011.


InfraCo Asia Development and Private Infrastructure Development Group

ICM is the exclusive developer for InfraCo Asia Development (InfraCo Asia) and the Private Infrastructure Development Group in Myanmar.

InfraCo Asia is a commercially managed infrastructure development and investment company of the Private Infrastructure Development Group (PIDG). Headquartered in Singapore, it aims to stimulate greater private sector investment in infrastructure in South and South East Asia. InfraCo Asia funds high-risk infrastructure development activities by taking an equity stake with a focus on socially responsible and commercially viable infrastructure projects that contribute to economic growth, social development and poverty reduction. At the appropriate time, either as close as possible to financial close and/or commercial operation, InfraCo Asia aims to (partially or fully, as appropriate) exit each project. It does this through the sale of its stake to the private sector in order to catalyse private sector investment and participation into the projects and countries it is involved in.

Find out more: https://infracoasia.com/

The Private Infrastructure Development Group (‘PIDG’) is an innovative infrastructure development and finance organisation delivering pioneering infrastructure in the poorest and most fragile countries with the purpose to combat poverty in the poorest and most fragile countries through pioneering infrastructure to help economies grow and change people’s lives.

Find out more: https://www.pidg.org/

ReEx Capital Asia

ReEx Capital Asia (ReEx), the parent company of ICM, is a clean energy investment banking and consulting boutique specialised in the Asia Pacific region with headquarters in Singapore. ReEx is regulated under the Monetary Authority of Singapore (“MAS”) as an exempt corporate finance advisor (#200606139H).

In 2015, ICM was set up as a subsidiary of ReEx Capital Asia to originate, develop and finance sustainable projects in Myanmar on behalf of InfraCo Asia and the Private Infrastructure Development Group. ICM relies on ReEx’s corporate and project finance expertise when conducting due diligence, designing business models and raising capital for its Myanmar portfolio.

More recently ReEx incubated an R&D project which led to the establishment of BeeBryte, a cleantech startup offering a Software-as-a-Service to optimize value of solar-plus-battery systems and minimize utility bills for businesses. 

Find out more: http://www.reexasia.com/


ICM is partners with SolaRiseSys (SRS). Since its establishment in 2010 as a Solar Energy Company in Myanmar and China, SRS has become one of the leading solar companies in Myanmar. SRS offers the complete line of solution, site survey, system design, quality products, installation, maintenance and customer care for varieties of products systems. SRS’s business expands each year to provide manufacturing, advanced installation, swift logistics and on-time commissioning for on-grid and off-grid power systems for small to large scale projects

See more at: https://www.srsmyanmar.com/index.php/en/

Good Neighbors International

ICM is partners with Good Neighbors, an international humanitarian development NGO founded in Republic of Korea in 1991, with its mission to make the world a place without hunger, where people live together in harmony. GN was granted General Consultative Status from the United Nations Economic and Social Council (UNECOSOC), and is currently working in 192 communities in 40 countries with the focus on inclusive community development approach and child protection. GN recently has been empowering people, transforming communities through social economy in 25 countries around the world.

See more at: http://www.goodneighbors.org/

Aller Aqua

After developing the Aquafeed Project, ICM is now advising Aller Aqua on the 60,000 MT aquafeed mill in Myanmar. ICM provides Aller Aqua critical capital raising and structuring services and leads all the permitting and land due diligence processes to ensure the continuity after InfraCo Asia’s exit. The partnership enables Aller Aqua to run several work stream in parallel and focus its own resources on further developing their business in Myanmar.

Find out more: https://www.aller-aqua.com/

Myanmar Private Equity & Venture Capital Association

ICM is a member of MPE&VCA. Founded in 2019, MPE&VCA is a group of institutional investors dedicated to improving the vibrant venture capital and private equity industry in Myanmar. MPE&VCA aims to provide a forum where the importance of venture capital and private equity can be discussed and shared amongst its members, and this can then be used to benefit all of the industries in the exciting market that is Myanmar.

Find out more: https://www.mpevca.org/

Alliance for Rural Electrification

ICM is a member of the Alliance for Rural Electrification (ARE), which is an international business association that promotes a sustainable decentralised renewable energy industry for the 21st century, activating markets for affordable energy services, and creating local jobs and inclusive economies. ARE enables improved energy access through business development support for more than 150 Members along the whole value chain for off-grid technologies.

Find out more: https://www.ruralelec.org/

British Chamber of Commerce

ICM is a member of the British Chamber of Commerce Myanmar, an independent, non-profit membership organisation which aims to promote, support and represent business interests in Myanmar. The organisation launched in July 2014 with the support of high profile British businesses – four Founding Patrons: Shell, Jardines, Prudential and Standard Chartered Bank.

Find out more: https://britishchambermyanmar.com/en



  • Renewable energy
  • Energy efficiency
  • Waste to energy


  • Fisheries
  • Agricultural farming
  • Cold storage


  • Road infrastructure
  • Urban planning
  • Logistics value chain


  • Power infrastructure
  • Rural electrification
  • Water and sanitation
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