According to business sources in Yangon, YHI Aung (Myanmar) Company, which includes shares owned by Min Aung Hlaing’s son Aung Pyae Sone, has obtained rights to import and distribute renowned Japanese and European car tires and lubricants under the leadership of businessman Maung Maung Naing. Maung Maung Naing, who serves as a trusted associate of Aung Pyae Sone, oversees Sky One Construction and various other business enterprises. Additionally, through YHI Aung (Myanmar) Company, they have established a monopolistic control over Myanmar’s tire and engine oil market.
YHI Aung (Myanmar) Company, in which Aung Pyae Sone holds major shares, imports and distributes Japanese Yokohama tires, European Dunlop tires, and ELF engine oil owned by French company Total. The company is a joint venture between Aung San Company Limited and YHI Corporation (Singapore). Despite economic sanctions imposed by European and Western countries on Aung Pyae Sone and Maung Maung Naing, their company continues to maintain import rights for European branded engine oils and car tires, a situation that has drawn attention from Yangon’s business community.
The ability of this military-linked business to continue operating within international trade networks, despite Western sanctions, indicates potential loopholes in the international sanctions regime. Business sources in Yangon have expressed concern about this situation, which raises questions about the effectiveness of international economic sanctions. The company’s continued access to premium international brands and its dominant position in Myanmar’s automotive supply market demonstrates how military-affiliated businesses can maintain operations despite international restrictions. This arrangement has effectively created a monopoly in Myanmar’s tire and engine oil market, controlled by Maung Maung Naing and Aung Pyae Sone through YHI Aung (Myanmar), even as their other business interests face international scrutiny and sanctions.
