Kirin stops payments to Tatmadaw beer partner

Asian drinks giant Kirin said it has halted dividend payments from its beer business to its Myanmar military-owned partner Myanmar Economic Holdings Public Company (MEHL) amid an independent probe and concerns from investors. The suspension stops Kirin and MEHL, and their shareholders, from receiving profits from joint ventures Myanmar Brewery and Mandalay Brewery. Kirin’s Myanmar […]

Kirin halts payments to Myanmar beer partner linked to military

TOKYO, Nov 11 (Reuters) – Japanese beverage group Kirin Holdings Co said it was halting payments from its beer ventures in Myanmar to local partner Myanmar Economic Holdings Public Company (MEHL), an entity linked to the country’s military. The United Nations has identified the owners of MEHL as members of the Myanmar military, which has […]

Shipping Giant to Stop Using Myanmar’s Military-Owned Port

YANGON — The world’s largest shipping company, Maersk, will cut ties with the military-owned ports in Myanmar this month over allegations of war crimes against the Rohingya in Rakhine State. The Danish shipping company said it is committed to serving businesses in Myanmar as it has done since the lifting of international sanctions in 2013. […]

Kirin expands market share with Mandalay Brewery JV

Kirin Holdings has officially taken a stake in Mandalay Brewery, the brewer of Mandalay Lager Beer, Mandalay Strong Beer and Mandalay Spirulina Beer. Japanese brewer Kirin Holdings and military-linked Myanmar Economic Holdings Limited (MEHL) signed an agreement on the joint venture in Yangon on Monday. The JV received approval from the Myanmar Investment Commission in […]

Myanmar’s Largest Oil Refinery Project Cancelled

Construction of a multi-billion-dollar oil refinery in the south of Dawei has been cancelled after an investor in the project ran into financial constraints, sources confirmed. If completed, the oil refinery would have been the largest in Myanmar. The project, which is backed by the Chinese, had received approval under the former government led by […]

Mandalay Brewery’s JV with Kirin approved as market heats up

THE Myanmar Investment Commission (MIC) has approved a proposal by Mandalay Brewery, which is a subsidiary of Myanma Economic Holding Limited (MEHL), to operate a joint venture (JV) with Japanese brewer Kirin Holdings. Under the JV, US$9 million will be invested to upgrade the quality of machinery and beer at Mandalay Brewery, said U Hla […]

State gets US$20 Million in Profit in Eight Months From Letpadaung Copper Mine

​​ The Union Ministry of Natural Resources and Environment Conservation Minister Ohn Win said that the profit received by the State within eight months from Letpadaung copper mine which is owned and jointly operated by Myanmar Economic Holdings Ltd (MEHL). and China’s Wanbao Company was about US$ 20 million. “The State’s share of 23,266.504 metric […]

Kirin Plans to Buy Mandalay Beer

​​ Japanese brewer Kirin Holdings is planning to buy Mandalay Beer for an estimated several hundred million yen in its latest effort to boost its presence in the Asia-Oceania region and as a part of enhancing their market position in Myanmar. The ‘Mandalay Beer’ brand is the oldest brand in Myanmar and most iconic in […]

MEHL to Sell Mandalay Brewery to Kirin

​​ Japanese brewer Kirin will buy Mandalay Brewery of Myanmar for an estimated several hundred million yen (several million dollars) in its latest effort to strengthen its presence in the Asia-Oceania region, a newspaper said on February 11. Kirin will create a local subsidiary to take over the country’s oldest brewery, based in the northern […]

Military Conglomerate Hoping for More JVs

U Hla Moe, general manager of the planning department for the military conglomerate Myanma Economic Holdings Limited (MEHL), spoke to The Myanmar Times for an exclusive interview on operating as a public company, the outlook for joint ventures with foreign firms and competing on a level playing field in Myanmar’s new economy. The military established Myanmar Economic […]