Business sources have confirmed that YHI Aung (Myanmar) Company, which includes major 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. The company is led by Maung Maung Naing, Aung Pyae Sone’s business confidant, who has been monopolizing Myanmar’s tire and lubricant market.
Maung Maung Naing oversees numerous business ventures owned by Aung Pyae Sone, including Sky One Construction Company. Additionally, through YHI Aung (Myanmar) Company, he controls Myanmar’s tire and engine oil market by importing famous brands such as Yokohama, Dunlop tires, and French Total’s ELF engine oils. Business circles report that the company has established a dominant position in Myanmar’s automotive supply sector.
YHI Aung (Myanmar) Company is a joint venture between Aung San Company Limited and YHI Corporation (Singapore). Despite Western sanctions imposed on Aung Pyae Sone and Maung Maung Naing, their company continues to maintain import rights for European and Japanese branded automotive products. Economic experts point out that this arrangement allows them to circumvent international sanctions while maintaining control over significant portions of Myanmar’s automotive supply chain. The company’s ability to continue importing these international brands, despite sanctions against its beneficial owners, has raised concerns among business observers about the effectiveness of international economic restrictions.
