According to business sources, 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. As Aung Pyae Sone’s trusted associate, Maung Maung Naing oversees numerous business ventures including Sky One Construction Company, while also monopolizing Myanmar’s tire and engine oil market through YHI Aung (Myanmar) Company.
YHI Aung (Myanmar) Company 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 Western economic sanctions against Aung Pyae Sone and Maung Maung Naing, their company has managed to secure import rights for international branded products. Business experts note that YHI Aung (Myanmar) Company maintains significant control over Myanmar’s tire and engine oil market, with their imported products holding dominant positions in the marketplace.
Business analysts have expressed concern about the company’s ability to continue importing renowned European and Japanese brands despite Western economic sanctions. The company’s operations demonstrate how certain businesses connected to sanctioned individuals maintain access to international supply chains. The situation highlights the challenges in implementing effective economic sanctions while also raising questions about the oversight of international trade relationships with Myanmar’s business entities that have connections to military-linked individuals.
