Japan's Kirin ends Myanmar beer tie-up with army-owned partner after coup

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 ancaution for other Japanese companies

But Kirin's 2015 deal stood out because it tied the Tokyo-based beer maker directly to Myanmar Economic Holdings Public Company , which at the time was still sanctioned by the United States for its army ties. The Myanmar business accounted for less than 5% of Kirin's global beer sales, but stood out as one of its few growth markets.

In 2019, United Nations investigators warned global firms doing business with MEHL aided the army and were at"high risk" of contributing to human rights abuses. A September 2020 report by Amnesty International cited documents it said it had obtained showing MEHL funneled some $16 billion to military units between 1990 and 2011. It showed that army units, including combat divisions, owned about one-third of MEHL's shares.

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

World's biggest wealth fund puts Japan's Kirin Holdings on watch list over Myanmar link
Source: ABSCBNNews - 🏆 5. / 83 Read more »

World's biggest wealth fund puts Japan's Kirin Holdings on watch list over Myanmar link
Source: ABSCBNNews - 🏆 5. / 83 Read more »

Thousands march in Tokyo to protest Myanmar coupSeveral demonstrations have been held in Japan since the February 1 coup, mainly by Myanmar residents of Japan For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her lisaMakT Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Myanmar anti-coup protests grow as army broadens internet crackdownMyanmar saw its largest anti-coup protests yet on Saturday with young demonstrators spilling on to the streets to denounce the country's new military regime, despite a nationwide internet blackout aimed at stifling a growing chorus of popular dissent.
Source: manilabulletin - 🏆 25. / 51 Read more »