Kanbawza Group of Companies

The Kanbawza Group of Companies (Burmese: ကမ္ဘောဇကုမ္ပဏီအုပ်စု; abbreviated as KBZ Group) is a major Myanmar-based conglomerate, possessing 11 subsidiaries across industries such as construction, garments, insurance, banking, oil, communications, cement, aviation and mining.[1]

Kanbawza Group of Companies
Native name
ကမ္ဘောဇကုမ္ပဏီအုပ်စု
IndustryConstruction, garments, insurance, banking, oil, communications, cement, aviation and mining
Founded1994 (1994)
Headquarters
Yangon
,
Myanmar
OwnerAung Ko Win
SubsidiariesAir KBZ
Myanmar Airways International
Kanbawza Bank
IKBZ Insurance Company[1]
Websitewww.kbzgroup.com.mm

History

Kanbawza Group was founded in the early 1990s by Aung Ko Win (also known as Saya Kyaung), a former schoolteacher with close connections to General Maung Aye, the former second in command of the former military junta, the State Peace and Development Council (SPDC).[1] He is married to Nan Than Htwe, the niece of Win Myint, a former SPDC official.[1] In January 2000, Kanbawza was awarded a banking license to operate Kanbawza Bank, which was first established in Taunggyi.[2]

Controversy

In 2017, the Burmese military launched a fundraising campaign to fund "clearance operations" in northern Rakhine State, as part of the broader Rohingya conflict.[3] In response, KBZ Group's Brighter Future Foundation donated over 3.469 billion kyats (approximately US$2.48 million) to the armed forces.[3]

Subsidiaries
gollark: For food.
gollark: Pulverised bee slurry is all you need.
gollark: Science cuboids.
gollark: 20th, sorry.
gollark: They did this back in the 19th century with manual calculators even.

References
  1. Aung Min; Toshihiro Kudo (2014). "Business Conglomerates in the Context of Myanmar's Economic Reform" (PDF). Myanmar's Integration with Global Economy: Outlook and Opportunities. Bangkok Research Report. Archived from the original (PDF) on 24 September 2015. Retrieved 11 July 2015.
  2. "Burmese Tycoons Part I". The Irrawaddy. June 2000.
  3. "Economic interests of the Myanmar military". United Nations Human Rights Council. 2019-09-16. Retrieved 2020-06-07.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.