Max Myanmar Group of Companies () is a major Burmese holding company with former interests in gems and active interests in construction, mechanical engineering, transportation, hotel and tourism, rubber plantations, energy retail and banking industries. Max Myanmar is owned by

Zaw Zaw Zaw Zaw () is a Burmese business magnate, banker, investor, and philanthropist. He is the chairman of Max Myanmar Group of Companies, a major conglomerate. Zaw Zaw has served as the president of the Myanmar Football Federation since 2005, and vi ...

History

The Max Myanmar Group of Companies was originally established as Max Myanmar Co., Ltd. in 1993. It started operation by importing buses from Japan, simultaneously followed by import of generators and earth-moving equipment and machinery. The company has since diversified its portfolio, to include not only import-export, but also construction, hospitality and tourism, manufacturing, banking services and gems mining. Through an aggressive growth strategy, the company steadily expanded and diversified into the fields of civil construction, mechanical engineering, transportation, hotel, rubber plantations and banking industry.

Portfolio

The company was involved in the construction of

Naypyidaw Naypyidaw (), officially Romanization of Burmese, romanized as Nay Pyi Taw (NPT), is the capital city, capital and third-largest city of Myanmar. The city is located at the centre of the Naypyidaw Union Territory. It is unusual among Myanmar's ...

, Burma's new capital. It built and operates Royal Kumudra Hotel. Max Myanmar also constructed Zabudipa Stadium for the

2013 Southeast Asian Games The 2013 Southeast Asian Games (, ), officially known as the 27th Southeast Asian Games, or the 27th SEA Games, and commonly known as Naypyitaw 2013, were a Southeast Asian multi-sport event took place in Naypyidaw, Nay Pyi Taw, Myanmar from 11 ...

, to be held in

. Max Myanmar is also involved in a $120 million USD infrastructure project, the Kaladan Multi-Modal Transit Transport Project, with

Essar Group Essar Group is an Indian Multinational company, multinational Conglomerate (company), conglomerate company, founded by Shashi and Ravi Ruia, Shashi Ruia and Ravi Ruia in 1969. The company, known as Essar Global Fund Limited (EGFL), owns a vari ...

, an Indian firm. The project will link the landlocked Indian state of

Mizoram Mizoram is a states and union territories of India, state in northeastern India, with Aizawl as its Capital city, capital and largest city. It shares 722-kilometres (449 miles) of international borders with Bangladesh to the west, and Myanmar t ...

Sittwe Sittwe (, ), formerly Akyab (), is the capital of Rakhine State, Myanmar (Burma). Sittwe is located on an estuarial island created at the confluence of the Kaladan, Mayu, and Lay Mro rivers emptying into the Bay of Bengal. As of 2019 the cit ...

in Burma's

Rakhine State Rakhine State ( ; , ; ), formerly known as Arakan State, is a Administrative divisions of Myanmar, state in Myanmar (Burma). Situated on the western coast, it is bordered by Chin State to the north, Magway Region, Bago Region and Ayeyarwady Re ...

and allow cargo vessels to travel along the

Kaladan River The Kaladan (, ) or Kissapanadi River (, ), also known as the Beino, Bawinu and Kolodyne, is a river in the eastern Mizoram, Mizoram State of India, and in Chin State and Rakhine State of western Myanmar. The Kaladan River is called the Chhimtuip ...

. On 23 March 2008, Max Myanmar launched Nay Pyi Taw Taxi and Car Rental Service, a metered taxi service, to Naypyidaw. In 2010, Max Myanmar acquired a 60% share (worth K 5 billion) in the development of Pyay Towers (a high-rise complex that will include a shopping center, offices and apartments). In August 2010, Max Myanmar opened its private bank, Ayeyarwady Bank, with nationwide branches, after receiving a banking operation license from the

Central Bank of Myanmar The Central Bank of Myanmar (; ; abbreviated CBM) is the central bank of Myanmar (formerly Burma). Organisation Its headquarter is located in Nay Pyi Taw, and has branches in Yangon and Mandalay. History The Central Bank of Myanmar was ...

. On 13 March 2011, 550 bedded Yankin Children's Hospital, which Max Myanmar redeveloped, equipped and furnished a former Ministry of Mining building at a cost of K9 billion (US$10 million), opened to help ease the strain on the city’s other paediatric facility. In April 2011, Max Myanmar won a government auction bid to buy the Department of Population office in

Yangon Yangon, formerly romanized as Rangoon, is the capital of the Yangon Region and the largest city of Myanmar. Yangon was the List of capitals of Myanmar, capital of Myanmar until 2005 and served as such until 2006, when the State Peace and Dev ...

Kyauktada Township Kyauktada Township ( ) is the center of downtown Yangon, Myanmar. The township consists of nine wards, and shares borders with Botataung Township in the east, Seikkan Township and Yangon River in the south, Pabedan Township in the west and Mi ...

, at the cost of K15 billion. On 4 January 2012, the company opened Ayeyarwady Hotel, the first hotel at Naypyidaw's National Landmark Garden. The complex was built at a cost of $35 million USD. On 22 January 2011, Max Myanmar signed a production-sharing contract with the Burmese Ministry of Mines to produce coal at a plot in

Sagaing Region Sagaing Region (, ; formerly Sagaing Division) is an administrative divisions of Myanmar, administrative region of Myanmar, located in the north-western part of the country between latitude 21° 30' north and longitude 94° 97' east. It is border ...

Kalewa Township Kalewa Township is a township of Kale District in Sagaing Division of western Burma (Myanmar). The principal town and administrative seat is Kalewa. The Paluzawa coalmines are located in Kalewa township.reverse takeover A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compa ...

by Max Myanmar. In this deal, Aussino would issue shares to buy a new firm called Max Strategic Investments (MSI), to provide capital of Max Myanmar to operate petrol stations in Burma and give Max Myanmar majority control of the Singaporean firm. Max Myanmar currently operates 21 petrol stations in Burma. In the 2011-2012 fiscal year, MSI had a reported consolidated revenue of $75 million USD. They also involved in cement industry this year. In July 2012,

announced that Max Myanmar would be withdrawing from its involvement (and $2 million USD of shares) in a massive $50 billion USD project to construct a special economic zone (with a

port A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers. Although usually situated on a sea coast or estuary, ports can also be found far inland, such as Hamburg, Manch ...

and industrial complex) in

Dawei Dawei (, ; , ; , RTGS: ''Thawai'', ; formerly known as Tavoy) is a city in south-eastern Myanmar and is the capital of the Tanintharyi Region, formerly known as the Tenasserim Division, on the eastern bank of the Dawei River. The city is about ...

. In December 2012, Max Myanmar Company has paid 13 local land owners more than 700 million kyats (US$806,000) in compensation for the acquirement of farmlands in Ngwehsaung Sub-township, Ayeyawady Region. The company paid a total of 728.5 million kyats (US$838,400) for 106 acres of land and it was the first time such compensation has been paid to landowners and it is the largest amount paid ever, according to locals, and the farmers were pleased. In 2013, acquired a majority 60-per cent stake in the Pyay Towers project for US$5.8 million, one of

's most prominent property developments. Max Myanmar responded to the land-grab problems happening in the country in 2013 as

pledged to return unused land that had been acquired through the government.

CSR

Ever since the establishment of Max Myanmar in 1993, the company has been actively taking part in its CSR. Ayeyarwady Foundation was set up in 2010 as a Non-Profit Organization (NPO) to focus on 5 pillars of philanthropy such as Youth Development and Sports Programme, Health, Education, Disaster Management, Responsible Business Practices Program. During the Covid-19 crisis, Ayeyarwady Foundation contributed nearly US$2 million to Myanmar fight against the coronavirus outbreak since March. Max Energy, one of the subsidiaries of Max Myanmar Group contributed 1 billion MMK by offering discounted fuel price for selling 7.7 million of petrol litres for healthcare workers, ambulances, CSOs and taxi drivers during COVID-19 crisis.

Controversies

In 2004, Max Myanmar was involved in the illegal confiscation of of land in

Mon Mon, MON or Mon. may refer to: Places * Mon State, a subdivision of Myanmar * Mon, India, a town in Nagaland * Mon district, Nagaland * Mon, Raebareli, a village in Uttar Pradesh, India * Mon, Switzerland, a village in the Canton of Grisons * A ...

and

Kayin State Kayin State (, ; ; , ), formerly known as Karen State, is a Administrative divisions of Myanmar, state of Myanmar. The capital city is Hpa-An, also spelled Pa-An. The terrain of the state is mountainous; with the Dawna Range running along the ...

s to plant

rubber plantation Plantations are farms specializing in cash crops, usually mainly planting a single crop, with perhaps ancillary areas for vegetables for eating and so on. Plantations, centered on a plantation house, grow crops including cotton, cannabis, tobacco ...

s. The rubber plantation, located in

Bilin Township Bilin Township () is a township of Kyaikto District in the Mon State of Myanmar Myanmar, officially the Republic of the Union of Myanmar; and also referred to as Burma (the official English name until 1989), is a country in northwest So ...

, is joint venture between Max Myanmar and a military-owned company. On 23 September 2009, Delta United FC (now Ayeyawady United F.C.), owned by Max Cement (a subsidiary of Max Myanmar), was involved in a controversial win against Yadanabon F.C., whose fans accused

of unfairly influencing the referee during the match. On 28 September, Zaw Zaw transferred ownership of the football club to Premier Coffee, citing a conflict of interest, as he also serves as the chairman of the

Myanmar Football Federation The Myanmar Football Federation ( MFF; ) is the governing body of football in Myanmar. The MFF oversees the Burmese men's national team, the women's national team, and youth national teams as well as national football championships and profes ...

. In April 2010, Max Myanmar Construction constructed a -long

Thingyan Thingyan (/sɛŋkəmɑ/ ; , Old Mon language, Old Mon: သင်ကြာန် ), also known as the Myanmar New Year, is a festival that usually occurs in middle of April. Thingyan marks the transition from the old year to the new one, based on ...

pandal A pandal is a fabricated structure, either temporary or permanent, that is used at many places such as either outside a building or in an open area such as along a public road or in front of a house in India and other neighbouring countries. This c ...

(water pavilion) for

Nay Shwe Thway Aung Nay Shwe Thway Aung (; ; born 22 May 1991), also known as Phoe La Pyae (; ; ), is a Burmese public figure and business tycoon. He is the grandson of Senior General Than Shwe, a retired senior army general and former Prime Minister of Myanmar. He ...

, the grandson of

Than Shwe Than Shwe (; ; born 2 February 1933) is a retired Burmese army general who held influential positions within Myanmar's government. Serving as the chairman of the State Peace and Development Council (SPDC) from 1992 to 2011, he played a signifi ...

by the shores of Yangon's

Inya Lake Inya Lake (, ''ʔīnyā kǎn'' ; formerly, Lake Victoria) is the largest lake in Yangon, Burma (Myanmar), a popular recreational area for Yangonites, and a famous location for romance in popular culture. Located 6 miles (10 km) north of ...

, despite city regulations that limit the length of pavilions to less than . Max Myanmar has been known to dump earth from its jade mines into the Uru and Nanmayang streams in

Kachin State Kachin State (; Jingpho language, Kachin: ) is the northernmost administrative divisions of Myanmar, state of Myanmar. It is bordered by China to the north and east (Tibet Autonomous Region, Tibet and Yunnan, respectively), Shan State to the sou ...

. As of 2012, Max Myanmar has also been involved in land seizures in

Dagon Seikkan Township Dagon Seikkan Township ( ) is an urban Townships of Myanmar, township of Yangon, Myanmar. Geography Dagon Seikkan Township is located in the east-central part of the city of Yangon. Dagon Seikkan Township shares borders with Hlegu Township to the ...

, forcing it to implement a mutual profit-sharing system with farmers. In 2017, the

Burmese military The Tatmadaw, also known as the Sit-Tat, is the armed forces of Myanmar (formerly Burma). It is administered by the Ministry of Defence (Myanmar), Ministry of Defence and composed of the Myanmar Army, the Myanmar Navy and the Myanmar Air For ...

launched a fundraising campaign to fund "clearance operations" in northern Rakhine State, as part of the broader

Rohingya conflict The Rohingya conflict is an List of ongoing armed conflicts, ongoing conflict in the northern part of Rakhine State, Myanmar (formerly known as Arakan, Burma), characterised by Sectarianism, sectarian violence between the Rohingya people, Ro ...

. In response, Max Myanmar's Ayeyarwady Foundation donated over 1.368 billion kyats (approximately US$976,857) to the armed forces.

References

{{reflist, 25em Conglomerate companies of Myanmar Holding companies established in 1993 1993 establishments in Myanmar