Japan's Kirin closes Business in Myanmar

Kirin Holdings, a Japanese multinational beverage company, has announced it will close its business in Myanmar. The company said in a statement on Monday that it would not conduct joint ventures with any of Myanmar's controlled partners. News Reuters.

Kirin Holdings has been trying to stop its activities in Myanmar since a military coup overthrew the democratic government last year. They are in dispute with local partner Myanmar Economic Holdings Limited (MEHL). Kirin and MEHL have jointly set up a company called Myanmar Brewery Limited and Mandalay Brewery Limited.

At one point in the dispute, Kirin's officials said they wanted to reach a compromise and stay in the Myanmar market. But after a year of negotiations, the two sides failed to reach an agreement and decided to close business this month and leave Myanmar. However, Kirin said the company would lose 400 million this year.

A spokesman for Kirin, Myanmar's top liquor company, said they now wanted to sell two of their business units, Myanmar Brewery Limited and Mandalay Brewery Limited. They hope to complete the sale of the company by next June. However, Kirin has not yet revealed the names of potential buyers.

However, even if the company is sold, the livelihood and safety of about one and a half thousand local employees working there will be given importance. Kirin's spokesman said local staff would be assisted.

Meanwhile, human rights activists have long called on Kirin to stop paying the Myanmar military. Besides, there is a movement to boycott alcohol in Myanmar under the auspices of the junta government and the military regime. It has done a lot of work. In the last one year, the sales of Myanmar breweries in the country have decreased by 39 percent.

Justice for Myanmar, an active anti-military group in the country, has welcomed Kirin's decision not to do business in the country. In a statement, they said that millions of people had joined the protest against the junta government and called for a boycott of alcohol. Now Kirin's move is expected to put more pressure on the military government.


Category and Tags
More stories by
First Bangladeshi Goldman Sachs partner Ryad Yousuf

Many of the expatriate Bangladeshis are making their mark in the Western world. The latest addition to that trend is Ryad Yousuf, a Bangladeshi living in London. He is the first Bangladeshi to be promoted as a partne...

Twitter's 'Blue Tick' service launched for $8 a month

Finally, Elon Musk, the world's richest man, launched Twitter's 'Blue Tick' service for $8 a month ($7.99) for customers. Elon Musk recently bought the ownership of the social networking site Twitter and took the lea...

Windows 11 and Android are lifting this cool component from macOS and iPhones

There will soon be a new Windows 11 preview build with an intriguing new feature. Through your mobile hotspot, you'll be able to connect directly to your Android phone from your computer.According to Windows Central,...

Google is bringing new app icons for smartphones

Google constantly brings updates to their stock apps through various updates. But till now the tech giant hasn't made any changes to its app icon. A few months ago, Google made several changes to the Play Store app icon. This time, the company owned

Japanese journalist sentenced to three more years in Myanmar

Japanese journalist Toru Kubot Photo: Reuters file photoJapanese journalist Toru Kubota, who was arrested while filming anti-coup protests in Myanma...

Follow Business Habit on Facebook, Twitter