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Wednesday, April 23, 2014
Business

Tay Za's Air Bagan Gets a Rival


By WAI MOE Tuesday, June 1, 2010


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Burmese businessman Aung Ko Win, owner of the Kanbawza Bank, has formed a domestic airline that is expected to compete directly with Tay Za's Air Bagan, according to the Rangoon weekly Myanmar Post.

Quoting Rangoon travel agency sources, the journal said the new airline would be named Air Inlay.

“Come fly with me.” Young women will soon also be lining up to work for a new domestic Burmese airline that will compete for business with tycoon Tay Za's Air Bagan. (Photo: AFP)
Aung Ko Win, also known as Saya Kyaung, is a longtime associate of the junta's No 2,  Vice Snr-Gen Maung Aye. When Maung Aye was  the commander of the Eastern Regional Military Command in Taunggyi, southern Shan State, Aung Ko Win was a main supplier of goods for the regional command headquarters. He also owns a soccer club, Kanbawza FC.

Business sources in Rangoon say the family of Minister of Industry-1 Aung Thaung is also involved in the new airline.

Aung Thaung's son Pyi Aung is married to Maung Aye's daughter Nandar Aye. Pyi Aung and his brother Nay Aung are directors of IGE Co Ltd and are said to be even wealthier than Burma's reputedly richest tycoon, Tay Za.

IGE Co Ltd is a supplier of substation and transmission line materials, oil and gas, as well as running CNG filling stations for government projects and the recently licensed Amara Bank. 

“Since early May, IGE has been looking for new staff who have graduated in business administration for the new airline, offering good pay,” said a Rangoon businessman who spoke on condition of anonymity.

According to The Myanmar Post, Air Inlay will use aircraft from Myanmar Airways International (MAI). Earlier this year, Kanbawza Bank bought an 80 percent stake in MAI.

Air Inlay will have to compete with Tay Za's Air Bagan. Tay Za is close to the junta chief Snr-Gen Than Shwe and his family, who have invested heavily in the tycoon's group of Htoo companies, which include Air Bagan.

While Than Shwe’s family is closely involved in Tay Za’s business interests, Maung Aye’s family members are associated with IGE, Kanbawza Bank and their sister companies.

But not only the families of the two top generals are involved in big business. The sons of the junta's No. 3, Gen Shwe Mann—Aung Thet Mann and Toe Naing Mann—are also active within Tay Za’s group of Htoo companies.

Another tycoon, Zaw Zaw of Max Myanmar Co Ltd, is close to the junta secretary 1 Gen Tin Aung Myint Oo, who is also Quartermaster-General of the armed forces, according to businessmen in Rangoon. Tin Aung Myint Oo’s son, Nay Lin Oo, is also a successful businessman.

The junta’s budget holder, Lt-Gen Tin Aye, the chief of Military Ordnance and head of the military-run Union of Myanmar Economic Holding Ltd also has a businessman son, Zaw Min Aye, who is involved in media and export-import businesses. He was controversially granted an executive copyright for publicizing and televising the 2010 World Cup.

COMMENTS (7)
 
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Aung Moung Wrote:
03/06/2010
Air Inlay and Air Bagan are supposing to carry illegal things such as gemstones, drugs and US dollars and etc from their routes.

We will get ONE DAY and we can recollect the state owned or public properties.

Their famous names in business are according to power or SPDC's umbrella. Most of the soldiers and families are still poor, just like the people.

KKK Wrote:
02/06/2010
Ko Wai Moe: "Tin Aung Myint Oo’s son, Nay Lin Oo, is also a successful businessman."
These junta cronies are not successful businessmen, They are just thieves and robbers


Maung Maung Wrote:
02/06/2010
What is new in this so-called news? The SPDC is spreading the news as though they are opening up for private ownership and businesses.
Instead they are showing us without shame their strategy of changing the state monopoly of the BSPP to the SPDC families' monopoly. The country is made poorer and the people at large become beggars.

Tide Wrote:
02/06/2010
Is it a good thing or a bag thing, Wai Moe?

M.Haji Wrote:
01/06/2010
Ruling generals and family members together with their cronies are leeching the country, like a Burmese saying " Khwe thay kaung lada swae" (dragging the dead dog by vultures ) while the rest of the ordinary citizens are struggling for two square meals a day.

chunkawgg Wrote:
01/06/2010
Don't admire them. Do not upset them.
They will be capitalized sooner or later after the 2010 election.
They have nowhere to run...just into the jail.

(see examples of Chinese tycoon and former Prime Minister Thaksin, Thailand)

timothy Wrote:
01/06/2010
They all are cronies and they get an unfair share of favouritism from the junta`s leaders. The game has nothing to do with economic and social benefits for people of Burma.
One thing sure is rivalry between two guys can spark the war of monopoly of businesses in airlines. The rivalry between the grandson of Ex-General Ne Win and his new generation general on the streets of Rangoon finally saw the downfall of Gen Ne Win.
This is now time for the downfall of Than Shwe. The gangs are ready to grab the lion's share of business. Personal greed, cruel competition, lack of law, lack of trust and favouritism—all of them are recipe for the fall of another dictator and the emergence of new generals. We are just the unwilling spectators.

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