MGS Group deepens push into property and hospitality

MYANMAR Golden Star Group of Companies (MGS Group), which is engaged in beverages, banking and microfinance, has expanded its business portfolio by prioritising hospitality and real estate. Thein Tun, founder of MGS Group and chairman of Tun Commercial Bank, said in a recent interview that real estate is the company’s most profitable line of business, […]

U Thein Tun picks Bagan as first hotel destination

MYANMAR businessman U Thein Tun extended his hospitality business portfolio to Bagan on September 21. The new hotel under the brand Bagan Star already has 81 rooms up and running. (U Thein Tun also owns Myanmar Consolidated Media, which publishes The Myanmar Times.) “Bagan is very attractive, with a great potential for the tourism industry […]

Cronies Disappointed As US Sanctions Extended

RANGOON — In wake of the extension of most of the US sanctions on Burma on Tuesday, several cronies have remained on the Specially Designated Nationals (SDN) list, despite the expectation that they would be removed. Sanctioned businessman Khin Shwe, chairman of the Zay Kabar Group of companies, told The Irrawaddy, “Some people have suggested […]

Myanmar welcomes US move to ease more sanctions

YANGON – A US decision to pare back economic sanctions on Myanmar could unclog investment as the country claws its way out of poverty, Aung San Suu Kyi’s civilian government said Wednesday, welcoming the move. Suu Kyi’s party took power in March after clinching a majority at last year’s election, the freest in generations for […]

Myanmar’s economy opens doors to big brands

From fast food giants to coffee chains, tobacco companies and garment makers, Myanmar’s emerging economy is opening up to the world’s biggest brands It is just after 2pm at the newly built Pizza Hut on Yangon’s Dhammazedi Road. Clusters of staff throng around the entrance and waiters’ station as businessman Sein Min, who also goes […]

Myanmar makes way for foreign beverages

YANGON — The globe’s big beer and beverage makers are rushing into Southeast Asia’s last frontier. Consumers do some comparison shopping in the beer aisle of a Yangon supermarket. That would be Myanmar, where here in the largest city, Netherlands-based Heineken and Myanmar’s Alliance Brewery on July 12 jointly opened a beer factory. The Dutch […]

KFC spreads its wings in Myanmar

Yangon – Kentucky Fried Chicken (KFC) is poised to become the first major US fast food retailer in Myanmar, the company’s local business partner announced on Tuesday, as the long-isolated nation braces for an influx of international food outlets. The fried chicken retailer, one of the world’s largest restaurant chains, plans to open its first […]

Capital Diamond Star Group & Mitsubishi in $200m tie-up

Local conglomerate Capital Diamond Star Group and Japan’s Mitsubishi Corporation will form a joint venture for food manufacturing and distribution, according to a press release. The new joint venture, called Lluvia Limited, aims to invest US$200 million over the next three years in new and existing businesses in Myanmar’s food value chain, and eventually compete […]

Lotte, MGS in $81-m JV to Bottle, Distribute Pepsi Products

</a Korea-based Lotte Chilsung Beverage Co Ltd said it has formed a joint venture with Myanmar Golden Star (MGS) Beverage Co Ltd to bottle and distribute soft drink products including Pepsi. Lotte Chilsung Beverage Co will maintain a 70 percent stake in the business, and MGS will maintain the rest. The capitalisation of the joint […]

American Chamber of Commerce to Launch Myanmar Chapter

The American Chamber of Commerce (AMCHAM) will launch a Burma chapter at the end of the month, another signal that businesses from the United States are showing a greater interest in a country that was off-limits to most American investors until-mid 2012. The launch event will take place at Rangoon’s Chatrium Hotel on Oct. 31 […]