Myanma Economic Holdings Limited

Myanma Economic Holdings Limited
Native name
မြန်မာ့ စီးပွားရေး ဦးပိုင် လီမိတက်
IndustryConglomerate
FoundedFebruary 1990; 34 years ago (1990-02)
FounderMinistry of Defence (Burma)
Headquarters
Yangon
,
Myanmar
OwnerBurmese military personnel (60%)
Directorate of Defence Procurement (40%)
SubsidiariesMyawaddy Bank
Myawaddy Tours & Travel
Myawaddy Enterprises Group
Pyininbin Industrial Park
Websitewww.mehl.com.mm

Myanma Economic Holdings Public Company Limited (Burmese: မြန်မာ့စီးပွားရေးဦးပိုင်အများနှင့်သက်ဆိုင်သောကုမ္ပဏီလီမိတက်, abbreviated MEHL or ဦးပိုင် in Burmese) is one of two major conglomerates run by the Burmese military (through the Ministry of Defence), the other being the Myanmar Economic Corporation (MEC).[1][2] MEHL business interests include banking, construction, mining, agriculture, tobacco and food.[3]

MEHL is owned by the Burmese military, and current and former Tatmadaw personnel, and is influenced by senior Tatmadaw leaders.[1][4] Rank-and-file soldiers are required to invest a significant portion of their salaries in MEHL shares, and generally receive an annual dividend in September based on the conglomerate's annual profits.[5][6][7] Revenues generated from MEHL have strengthened the Burmese military's autonomy from civilian oversight, and has contributed to the military's financial operations in "a wide array of international human rights and humanitarian law violations."[4]

UMEHL also operates Myawaddy Bank and the Burmese military's pension fund.[1][8] The headquarters are located on Maha Bandula Road in Yangon's Botataung Township.[9]

  1. ^ a b c Cheetham, Joshua: "Myanmar coup: The shadowy business empire funding the Tatmadaw," March 9, 2021, BBC News, retrieved March 29, 2021
  2. ^ McCartan, Brian (28 February 2012). "Myanmar military in the money". Asia Times. Archived from the original on 27 February 2012. Retrieved 30 September 2012.{{cite news}}: CS1 maint: unfit URL (link)
  3. ^ Nunley, Christian: "U.S. sanctions companies that back Myanmar military following coup," March 25, 2021, updated March 26, 2021, CNBC, retrieved March 29, 2021
  4. ^ a b "Economic interests of the Myanmar military". United Nations Human Rights Council. 16 September 2019. Retrieved 7 June 2020.
  5. ^ "No sign of annual payout from Myanmar military conglomerate to soldiers". Myanmar NOW. Retrieved 21 August 2022.
  6. ^ "Why thousands have left Myanmar's military—and why most stay". Myanmar NOW. Retrieved 21 August 2022.
  7. ^ "Junta acknowledges soldiers' payouts from military conglomerate still missing". Myanmar NOW. Retrieved 21 August 2022.
  8. ^ Min Zin (August 2003). "Waiting for an Industrial Revolution". The Irrawaddy. Retrieved 30 September 2012.
  9. ^ "UNION OF MYANMAR ECONOMIC HOLDINGS LIMITED". Excluded Parties List System. U.S. Government. Archived from the original on 20 October 2011. Retrieved 30 September 2012.