Japan’s Kirin Holdings announced that it is terminating Joint Ventures with a top Myanmar conglomerate whose owners have been identified by the United Nations as members of the military, which overthrew the elected government on 1st week of Feb.
Kirin has been under pressure to reassess the tie-up with Myanma Economic Holdings Public Company (MEHL) due to the local partner’s military connections. Even before the recent coup, groups such as Amnesty International had been calling on Kirin and other companies to cut ties with MEHL.
“Given the current circumstances, we have no option but to terminate our current JV partnership”, Kirin said in a statement. “We will be taking steps as a matter of urgency to put this termination into effect.”
“We decided to invest in Myanmar in 2015, believing that, through our business, we could contribute positively to the people and the economy of the country as it entered an important period of democratization.” “We hope to find a way forward that will allow us to continue serving Myanmar and its people in the years to come.”