Japanese beer company Kirin Holdings stated on December 6 that it had applied for commercial arbitration to terminate the joint venture with Myanmar’s business partner and the military government-controlled Myanmar Economic Holding Company, and called for a “fair and just” procedure to end its participation in the beer business. According to Kyodo News, there are business dealings with this entity. A subsidiary of Kirin in Singapore took action with the Singapore International Arbitration Center after unsuccessful future operation negotiations between Myanmar Beer Company, the country’s largest beer company, and one of the two companies operated by Kirin and a Myanmar entity. other…
Japanese beer company Kirin Holdings stated on December 6 that it had applied for commercial arbitration to terminate the joint venture with Myanmar’s business partner and the military government-controlled Myanmar Economic Holding Company, and called for a “fair and just” procedure to end its participation in the beer business. Business with entities, Kyodo News Report.
After the actions taken by the Singapore Kylin subsidiary and the Singapore International Arbitration Centre Failure Negotiations on the future operations of Myanmar’s largest beer company, Myanmar Beer, which is one of two companies operated by Kirin and Myanmar entities, the other is Mandalay Beer, and the two parties are still discussing its fate.
Kirin said in a statement that it has repeatedly tried to negotiate with Myanmar Economic Holdings to terminate the cooperation relationship, but they “did not cooperate in the negotiations and actually rejected our proposal.”
Deteriorating relations with Myanmar military companies
On the contrary, the Myanmar Economic Holding Company unilaterally filed a petition to the Yangon District Court on November 19, requesting the liquidation of the Myanmar Brewery, which is owned by Kirin 51% and the Myanmar entity owns 49%.
The statement said: “Kirin Holdings stated that it will resolutely protest this unreasonable motion that ignores the joint venture agreement and violates Myanmar’s laws and regulations.”
However, despite Kirin’s actions, it is not clear how the Myanmar partner will respond and whether it will comply with the decision issued by the Singapore Arbitration Center.
According to the statement, Kirin accused its Myanmar partners of providing “welfare fund management” [Myanmar] Military”, seized power in a coup on February 1.
