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. Maung Maung Naing, who serves as Aung Pyae Sone’s trusted associate, oversees various business operations including Sky One Construction Company. Additionally, through YHI Aung (Myanmar) Company, they have established a monopoly in Myanmar’s tire and engine oil market by importing famous car tires and lubricants.
YHI Aung (Myanmar) Company, in which Aung Pyae Sone holds major shares, imports and distributes Japanese Yokohama tires, Europe’s renowned 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 the European Union and Western countries on Aung Pyae Sone and Maung Maung Naing, their company continues to maintain import rights for European engine oils and car tires.
The Yangon business community has expressed concerns about this situation and questions the effectiveness of international economic sanctions. The company’s operations have a significant influence on Myanmar’s automotive parts market, limiting business opportunities for other domestic entrepreneurs. The ability of sanctioned individuals to continue operating major import businesses through various corporate structures has raised questions about the enforcement of international sanctions designed to pressure the military regime. The company’s dominance in both the tire and engine oil markets has effectively created a monopolistic control over these essential automotive supply chains in Myanmar.
