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Bangkok Post
Bangkok Post
Business

Japan's Kirin against plan by Myanmar partner to end venture

FILE PHOTO: An employee works at a beer production line at Japanese brewer Kirin Holdings' factory in Toride, Ibaraki Prefecture, Japan July 14, 2017. (Reuters)

TOKYO: Japanese drinks company Kirin Holdings said on Wednesday it objected to a plan by its partner in Myanmar to liquidate a brewery joint venture there.

Myanmar Economic Holdings Public Company Ltd (MEHPCL) filed a petition on Nov 19 to liquidate the venture, Kirin said in a statement. Kirin said it will seek to dismiss the petition over doubts the process will be handled fairly and legally.

Kirin said in February it was cutting ties with its military-linked partner in Myanmar after the army ousted the democratically elected government. Even as they negotiated a wind-down of the venture, Kirin executives said they wanted to stay involved in the Myanmar market.

"MEHPCL has been uncooperative in the negotiations, effectively rejecting our proposals," Kirin said in a statement. 

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