Kirin Holdings, a major beer company, has filed an arbitration petition with a third-party organization in Singapore due to difficulties in negotiations to dissolve a joint venture with a local company related to the military over the Myanmar business. Announced.
Regarding the Myanmar business, Kirin operates a beer company locally as a joint venture with "Myanmar Economic Holdings", a conglomerate that manages pensions for military personnel. Following the coup, we continued to negotiate to dissolve the alliance.
However, negotiations were difficult, as the joint venture partner showed a stance of rejecting the proposal and last month unilaterally filed a liquidation of the joint venture with a local court.
Under these circumstances, Kirin announced on the 6th that it has filed a petition for arbitration with a private third-party organization that arbitrates business disputes in Singapore, saying that the procedure for resolving the joint venture between the two companies should be carried out fairly and properly. Did.
According to Kirin, the Singapore High Court has decided to suspend the procedure for the previous liquidation request by the joint venture partner, so in parallel with this arbitration procedure, the joint venture partner will be dismissed. It is a policy to ask the court.
Kirin has a policy of continuing its business in Myanmar, and it seems that there is an aim to appeal the injustice of the Myanmar side to the international community through a series of procedures, and the conflict between the two companies is deepening.Keywords: