By YUJI YAMASHITA/ Staff Writer
December 7, 2021 at 18:55 JST
A Myanmar Brewery Ltd. factory (Provided by Kirin Holdings Co.)
The major Japanese brewing company Kirin Holdings Co. filed for third-party commercial arbitration to end its joint-funding partnership with a firm affiliated with Myanmar’s military.
The two companies share ownership of a local beer company, Myanmar Brewery Ltd.
Kirin filed with the Singapore International Arbitration Center on Dec. 6 and announced the news the same day.
Kirin sought to end the joint venture after the February coup by the national military, but it has been unsuccessful. It is turning to third-party arbitration in hopes of finally resolving the matter.
“We continue to try to contribute to Myanmar’s economy and society through the beer business,” said Yoshinori Isozaki, the company president. “While we smoothly proceed with the arbitration procedures, we will take into the utmost consideration the lives and safety of local employees and their families, clients and customers at the time of ending the partnership."
Myanmar Brewery is jointly funded by Kirin, at 51 percent, while the rest comes from Myanmar Economic Holdings Ltd.
In November, the holdings company asked a local court to approve liquidating the Myanmar Brewery. But Kirin opposed the move because it plans to find a new investor to partner with after ending the joint venture.
The future of the brewery remains unclear, and Kirin could be forced to reconsider the project.
According to Kirin, it asked the arbitration center to resolve the dispute based on their joint venture contracts.
Kirin seeking arbitration to end venture linked to Myanmar military
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Japan’s Kirin to terminate Myanmar beer alliance after coup
February 5, 2021
Businesses start to rethink Myanmar as coup ignites protests
February 10, 2021
Kirin beer executive questions sweeping shutdowns of late-night bars
January 6, 2021
South Korea steel giant POSCO weighs how to exit Myanmar military-backed venture--sources
April 5, 2021
South Korean steelmaker to end partnership with Myanmar military
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