Japan’s Kirin orders probe of Myanmar beer JVs linked to military

Photo: Reuters

Japanese beverage maker Kirin Holding Co on Friday said it had ordered an outside investigation of two Myanmar beer ventures it operates with a company linked to senior figures in the country’s military.

The United Nations earlier identified the owners of Kirin‘s local partner, Myanmar Economic Holdings Public Company (MEHL), as members of the Myanmar military, which has been accused of genocide and other war crimes against the Rohingya Muslim minority.

“We consider this to be a matter of utmost urgency. Respect for human rights is the foundation of all business activities in the Kirin Group,” the company said in a press release.

Deloitte Tohmatsu Financial Advisory will conduct the investigation of Myanmar Brewery Limited and Mandalay Brewery Limited.

Kirin, however, said it was not planning to exit the country and would explore its ownership options.

Kirin said it had decided to seek the independent investigation after MEHL failed to provide information requested by the Japanese company during an internal governance check which began in February.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.