Myanma Economic Holdings Limited
State-owned conglomerate in Myanmar / From Wikipedia, the free encyclopedia
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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]
Native name | မြန်မာ့ စီးပွားရေး ဦးပိုင် လီမိတက် |
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Industry | Conglomerate |
Founded | February 1990; 34 years ago (1990-02) |
Founder | Ministry of Defence (Burma) |
Headquarters | , |
Owner | Burmese military personnel (60%) Directorate of Defence Procurement (40%) |
Subsidiaries | Myawaddy Bank Myawaddy Tours & Travel Myawaddy Enterprises Group Pyininbin Industrial Park |
Website | www |
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]