Society

Kirin scraps Myanmar partnership

Feb 06 (NHK) - Japanese brewer Kirin Holdings is scrapping a joint-venture in Myanmar with a conglomerate linked to the country's army. The move follows the military coup earlier this week.

A statement from Kirin says it had no option but to terminate its partnership with Myanmar Economic Holdings Public Company Limited, which runs a welfare fund for the military.

Kirin acquired a majority stake in Myanmar's largest brewery in 2015. It enjoys an 80 percent share in the country's beer market.

The company says it is deeply concerned by this week's developments - and goes on to describe the military action as against its standards and Human Rights Policy.

Kirin does not plan to withdraw from Myanmar. But it needs to find another joint-venture partner to continue operations.

Source: ANNnewsCH

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