covering burma and southeast asia
Friday, October 31, 2014
Magazine

COVER STORY

Tycoon Turf


By Aung Zaw SEPTEMBER, 2005 - VOLUME 13 NO.9


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(Page 10 of 14)

It is also widely believed in Rangoon’s business circles that Maung Weik fought strenuously for the affections of Snr-Gen Than Shwe’s middle daughter, a connection that would have significantly improved his business prospects.

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Htay MyintHtay Myint

 

Chairman of the Yuzana Co, established in 1994, Htay Myint hails from southern Burma. His company is well known for its heavy investment in Rangoon’s residential and commercial property markets, as well as growing interests in agricultural and fishery ventures. Yuzana was recently granted a sizeable loan from the government to subsidize several projects facing financial difficulties.

 

The CVs of Burmese tycoons would not be complete without memberships in numerous civic and professional organizations. Htay Myint’s is certainly no different. He serves as president of the Construction Owners Association, the Fishing Vessel Owners Association, and the Myanmar Projects Association, among others.

 

Among the more notable investments of Yuzana are Rangoon’s Yuzana Supermarket—one of the biggest shopping complexes in Burma—and the three-star 198-room Yuzana Hotel, also in Rangoon. Like many of his colleagues in the tycoon community, Htay Myint has been linked with former prime minister Khin Nyunt, who is believed to own a significant number of shares in Yuzana.

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Khin ShweKhin Shwe

 

One of Burma’s leading real estate moguls, 55-year-old Khin Shwe claims to be a pioneer in almost every field of the country’s economic development. The National Development Company Group, which he heads as chairman, has more than 4,000 shareholders and a declared mandate to modernize the nation. As president of the Myanmar Construction Entrepreneurs Association he has a paramount position in that sector of the economy, and as chairman of the Myanmar Hotelier Association he has a central role to play in promoting tourism and hotel construction.

 

His considerable business holdings include Zaykabar Co (he is president of the company), 3,000 acres of Mingalardon Garden City, the 1,000-acre Yangon Industrial Park, the Royal Mingalardon Golf and Country Club, Zaykabar Engineering & Construction Co, Mya Yeik Nyo Royal Hotel Group (the hotel was a favorite haunt of former prime minister Khin Nyunt and his cronies), Karaweik Palace, Kandawgyi Nature Park and Recreation Zone, and Myanmar Sampeorna Tobacco Co.



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