Japan s Kirin cuts ties with Myanmar military-owned firm
Issued on:
05/02/2021 - 03:24 2 min
Tokyo (AFP)
Japanese beer giant Kirin said Friday it is ending its joint venture with a military-owned conglomerate in Myanmar after a coup in the country.
The arrest of democratic leaders including Aung San Suu Kyi has sparked international condemnation and Kirin said it was deeply concerned by the recent actions of the military in Myanmar . Given the current circumstances, we have no option but to terminate our current joint-venture partnership with Myanmar Economic Holdings Public Company Limited (MEHL), which provides the service of welfare fund management for the military, the firm said.
Kirin Scraps Joint Venture With Myanmar Military-Owned Firm After Coup
A Kirin promotional event / Kirin Ichiban Myanmar Facebook
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By The Irrawaddy 5 February 2021
YANGON Japanese beverage giant Kirin has decided to cut ties with a Myanmar military-owned conglomerate following the armed forces’ coup and detention of national civilian leaders State Counselor Daw Aung San Suu Kyi and President U Win Myint.
Kirin Holdings Co. Ltd. on Friday said it will end its joint-venture partnership with Myanma Economic Holdings Public Co. Ltd. (MEHL). Kirin held 51 percent of both Myanmar Brewery and Mandalay Brewery, with MEHL holding the rest.
Five days after the military takeover, Kirin said that “Given the current circumstances, we have no option but to terminate our current joint-venture partnership” with MEHL, “which provides the service of welfare fund management for the military.”