According to business sector sources, Capital Ace Company, owned by Aung Pyae Sone, son of military council leader Senior General Min Aung Hlaing, is collaborating with military-controlled Myanmar Economic Holdings Limited (MEHL) in tire manufacturing operations. This partnership began in September 2024, operating under a raw materials supply and finished products arrangement.
Aung Pyae Sone has obtained exclusive distributorship rights for tires manufactured by the military-controlled MEHL. Additionally, he established CRV MOTORCYCLE PARTS Company, based in Mandalay’s Ring Road, which handles tire distribution operations. This company is managed by Maung Maung Naing, Aung Pyae Sone’s business confidant, and operates as a subsidiary of the Capital Ace Group.
The military council-controlled MEHL previously manufactured car and motorcycle tires under the Tristar brand and has now switched to producing under the Joker brand. YHI Aung (Myanmar) Company, in which Aung Pyae Sone holds major shares, imports and distributes Japanese Yokohama tires, European Dunlop tires, and French Total company’s ELF engine oils. Sources indicate that Maung Maung Naing and Aung Pyae Sone’s YHI Aung (Myanmar) maintains a monopolistic control over Myanmar’s tire and engine oil markets.
Aung Pyae Sone operates numerous businesses under various names including Bone Myat Pyae Sone, Sky One, Myanmar Sit Thu Gyi, Min Taya Gyi, Winning Sky, True Golf, Aung Myint Mo Min Insurance Company, MyTel Telecom shareholding, Azura Beach Resort, A & M Mahar Company, and Nyein Chan Pyae Sone Manufacturing & Trading Company. According to sources connected to the military, he is involved in various small, medium, and large-scale business operations throughout Myanmar, including military and civilian ministry construction tenders, road and bridge construction tenders, and the import of electric vehicles and solar panels.
