Htay Myint

Htay Myint

Htay Myint

Birth:  6 February 1955
Source of wealth:  Yuzana Group

Type:   Private
Founded:   1994
Address:  No.15, Dhamma Zedi Rd, Bahan Tsp, YANGON
Business: Construction, Real Estate Developer, Shopping Centers, Hotels, Shrimp Culture & Fish Farming, Agribusiness, Oil Milling, Exploration of Gem, Cement

Businessman Htay Myint has built Yuzana Company Limited into an influential conglomerate, with a diverse portfolio of business interests across an array of industries including transportation, agriculture and fisheries, real estate, tourism, hotels and shopping centres. His group is a pioneer in development projects and affordable housing projects.

“We have already transformed. It is not time to change. We have already changed.”

Millionaire Htay Myint is regarded as one of the few of Myanmar’s elite that are not only wealthy but also well-connected to junta-linked enterprises. He is also well-known as a close ally of retired junta strongman Senior General Than Shwe and has close ties with General Khin Nyunt, the junta’s prime minister and Military Intelligence chief who was ousted in 2014. Today, Htay Myint is chairman of Yuzana Company Limited and Yuzana’s business companies and concessions.

Htay Myint first started a fisheries venture business in Myeik (Mergui), Taninssrim Division. He set up his first Yuzana Company in 1994. His group presides over a business empire across a diverse portfolio of business sectors, ranging from real estate, hospitality, plantations, rubber, supermarkets, marine shrimp and fisheries. His group leads in implementing affordable housing and largescale mixed-use development projects.

The Yuzana group comprises of more than 20 subsidiaries and affiliates that include: Yuzana Cement Industries; Annawar International Fisheries Holdings; Yuzana Agriculture Group; Yuzana Highway; Annawat Tun Ayeyarwaddy Fisheries; Yuzana Edible Oil Group; Yuzana Aqua & Agriculture; LEDO Highway; Yunadi Shwe Than Zin; Yuzana Topica Power Industry; and Yuzana Transporation & General Trading and Seasoning Powder Factory.

Similarly placed to Tay Za’s Htoo Trading, Win Aung’s Dagon Company, Steven Law’s Asia World, and Zaw Zaw’s Max Myanmar, his Yuzana Company is among Myanmar’s well-connected companies. His company is particularly known for excellence in housing projects and other businesses with high profile in the local community, such as department stores, supermarkets, fisheries and marine shrimp. In the 1990s, Htay Myint opened Yuzana Super Market, one of the biggest shopping centers and Yuzana Garden City, a suburban housing development. Later on, his group opened more supermarkets, hotels and resorts. In 2007, his group was contracted to redevelop the Stilwell Road (also known as Ledo-Burma Road) that links India and China. The group was also contracted to collect toll and tax fees on this road for 30 years. Yuzana has also been granted plantation concessions and received large oil palm concessions in Kachin State and Tenasserim Division. Htay Myint established a massive mono-crop plantation in northern Myanmar, specifically Hukawng Valley in Kachin State.

In 2011, Yuzana was selected as one of the subcontractors for a special economic zone in Dawei of Tennasserim Division. Since 1998, his group has co-managed a plant that produces seasonings, in Bago Region’s Deik Oo. Yuzana is also among the major producers of pickled tea leaves (“lahpet”).

Htay Myint was a lawmaker elected to the Pyithu Hluttaw (Lower House) from the Union Solidarity and Development Party which the junta backed in Myanmar’s 2010 election. Htay Myint was elected to the Lower House for Tennasserim Division’s Myeik (Mergui) constituency in 2010, but was defeated by a candidate from the NLD in the 2015 election.

Htay Myint has been involved in numerous scandals, including farmland grabbing in Hukawng Valley, Kachin State, where since 2006, his group has seized over 400,000 acres of land for sugar cane and cassava plantations. In 2010, his group opened a tapioca powder factory within Kachin State, which later became the largest in Southeast Asia. In 2012, farmers went to court to sue Yuzana Company for the uncompensated farmland confiscation that had taken place in 2010.He was on the US and EU’s targeted sanctions lists because of his close ties with the military regime. The United States lifted its sanctions on October 2016.

Htay Myint serves as the president of the Myanmar Fisheries Federation (MFF) that was formed in 1989. MFF is one of the highest national level for fishery industry. He also heads the Myanmar Projects’ Association, the Fishing Vessel Owners’ Association and the Construction Owners’ Association.

His subsidiary companies and firms Yuzana Company, Yuzana Fisheries Limited and Yuzana Construction are included among Myanmar’s top 100 tax payers, from 2012 to 2014. Like other prominent business tycoons, Htay Myint is recognized for his effort after Cyclone Nargis in 2008. He was chosen to facilitate aid and was awarded contracts by the government for several reconstruction projects in the Ayeyarwaddy Delta. Htay Myint was awarded the title ‘Wunna Kyaw Htin’ by the Government of Myanmar for his outstanding achievements in business management and social activities.