U.S., others weighing sanction options after Monday’s coup Kirin’s stake in MBL valued at $1.4 bln - $1.7 bln - Bernstein Consumers in Myanmar shun army-linked products (Adds details, Myanmar boycott, context)
TOKYO, Feb 5 (Reuters) - Japanese drinks giant Kirin Holdings on Friday scrapped its beer alliance with a conglomerate linked to the Myanmar military after the army staged a coup deposing the democratically elected government earlier this week.
The move effectively scraps the joint venture called Myanmar Brewery, in which Kirin’s controlling stake is valued at up to $1.7 billion, and follows an inconclusive, seven-month probe mandated by Kirin into its Myanmar partner.
Feb 2, 2021
Suzuki Motor Corp. said Tuesday it has halted production at its two auto plants in Myanmar to ensure the safety of its employees following a military coup the previous day, as other Japanese companies from retail giant Aeon Co. to auto-parts maker Denso Corp. were scrambling to assess the situation.
Suzuki said it stopped output on Monday afternoon at its factories in Yangon where 400 employees work.
Suzuki has a 60% share of new car sales in Myanmar, having sold 13,200 units in 2019. The company said it has yet to decide on when to resume production.
The Myanmar military on Monday seized power from the democratically elected government of Aung San Suu Kyi, who was detained along with other leaders of her party in early morning raids.
(M) Bhd is aiming for its new digital shopping platforms to contribute 15% to 20% of its retail revenue over the next five years, according to chief executive officer Shafie Shamsuddin.
The group that runs Aeon Retail Malaysia has tied up with American grocery e-commerce retailer Boxed to build what Shafie calls a new online retail ecosystem, which is targetted to roll out by the end of the second quarter in 2021.
“We have 16 physical locations in Malaysia, where we can build fulfillment centres, together with Boxed technology. Nobody else has this capability currently in Malaysia, ” said Shafie in an online interview.
Shafie said the new online retail ecosystem will deliver options and personalised solutions to Aeon customers who can choose to visit the malls and get their groceries and goods delivered to them while dining in restaurants, or delivered to their homes or offices.
01 Feb 2021 / 18:32 H.
By Ritsuko Ando and Sam Nussey
TOKYO, Feb 1 (Reuters) - Japanese companies from retail giant Aeon Co to auto-parts maker Denso Corp scrambled to assess the turmoil in Myanmar on Monday after a coup in the country once feted as Southeast Asia s last big frontier.
The Myanmar military seized power against the democratically elected government of Aung San Suu Kyi, who was detained along with other leaders of her party in early morning raids.
Major Japanese firms including Kirin Holdings have pushed into Myanmar since Suu Kyi s party won a landslide election in 2015 and established the first civilian government in half a century.