Irrawaddy-Nov 12

Japanese beverage giant Kirin plans to dissolve by next month its joint venture with the Myanmar military, Myanmar Brewery, whose profits plunged by almost 50 percent on-year in the third quarter, its financial results for the period show. The collapse in sales at the brewer follows a boycott by anti-junta protesters of military-linked products, which is part of a campaign to sever the coup leaders’ financial lifelines. Products like Myanmar Brewery’s Myanmar Beer can no longer be found on store shelves due to the boycott. Kirin owns 51 percent of Myanmar Brewery, with military-owned conglomerate Myanma Economic Holdings Public Co. Ltd. (MEHL) holding the rest. In its Q3 2021 financial report, Kirin said Myanmar’s beer market had shrunk, with sales volumes hit by the spread of COVID-19, the “political upheaval” and supply chain disruptions. Compared to the same period last year, Myanmar Brewery’s sales volume was down over 30 percent. Kirin’s Myanmar business recorded operating profit of US$115 million (161.84 billion kyats) in 2019, according to the company. Read more at: https://www.irrawaddy.com/news/burma/japans-kirin-to-end-beer-joint-venture-with-myanmar-military-by-december.html