Kanbawza Group of Companies explained

Companies bearing the Kanbawza brand
Native Name Lang:my
Industry:Construction, garments, insurance, banking, oil, communications, cement, aviation and mining
Founder:Aung Ko Win
Hq Location City:Yangon
Hq Location Country:Myanmar
Areas Served:-->

The Kanbawza Group of Companies (Burmese: ကမ္ဘောဇကုမ္ပဏီအုပ်စု; abbreviated as KBZ) is a group of Myanmar-based companies across industries such as construction, garments, insurance, banking, oil, communications, cement, aviation and mining that bear the KBZ brand.[1]

Each company operates as a separate independent entity.

History

The first KBZ ventures were founded in 1988 by U Aung Ko Win in textile trading and mining. This subsequently expanded into the finance, agriculture, aviation, manufacturing, and tourism sectors.[2]

Aung Ko Win (also known as Saya Kyaung) is a former schoolteacher with close connections to General Maung Aye, the former second in command of the former military junta, the State Peace and Development Council (SPDC). He is married to Nan Than Htwe, the niece of Win Myint, a former SPDC official. In January 2000, Kanbawza was awarded a banking license to operate Kanbawza Bank, which was first established in Taunggyi as an independent business.[3]

In 2017, daughters Nang Lang Kham and Nang Kham Noung stepped assumed leadership positions in Kanbawza, playing an active management role as Deputy CEOs in KBZ Bank.[4]

Controversy

In 2017, the Burmese military launched a fundraising campaign to fund "clearance operations" in northern Rakhine State, as part of the broader Rohingya conflict.[5] In response, KBZ Group's Brighter Future Foundation donated over 3.469 billion kyats (approximately US$2.48 million) to the armed forces.

See also

Notes and References

  1. Web site: Business Conglomerates in the Context of Myanmar's Economic Reform. Aung Min. Toshihiro Kudo. 2014. Myanmar's Integration with Global Economy: Outlook and Opportunities. Bangkok Research Report. 11 July 2015. dead. https://web.archive.org/web/20150924032745/http://www.ide.go.jp/English/Publish/Download/Brc/pdf/13_07.pdf. 24 September 2015.
  2. Web site: KBZ Group. 2020-11-02. KBZ Group. en.
  3. News: June 2000. Burmese Tycoons Part I. The Irrawaddy.
  4. Web site: Gluckman. Ron. A Family Of Entrepreneurs Has Built KBZ Into a Finance Powerhouse In Myanmar. 2020-11-02. Forbes. en.
  5. Web site: 2019-09-16. Economic interests of the Myanmar military. 2020-06-07. United Nations Human Rights Council.