Junta Chief’s Son Profits from Rebranded Military Tyre Business

[geovalin]

Irrawaddy

 

The son of Myanmar’s junta leader is reaping financial rewards from a tyre business tied to the military, according to a new investigation — a move seen as part of a wider effort to dodge international sanctions.

 

Aung Pyae Sone, son of Senior General Min Aung Hlaing, has quietly cornered the country’s car tyre and engine oil markets. He does so through a web of companies fronted by longtime associate Maung Maung Naing, a Yangon-based businessman with deep ties to the ruling elite.

 

YHI Aung (Myanmar), where Aung Pyae Sone holds a significant share, imports and distributes well-known brands such as Yokohama and Dunlop. But the money trail doesn’t stop there. A newer firm, Capital Ace Company, established in May 2024, has taken the scheme further — partnering with the military-owned Myanmar Economic Holdings Limited (MEHL), which is under sanctions from the US, EU, and UK.

 

According to leaked documents published by Khit Thit Media this week, Capital Ace struck a secret deal with MEHL to rebrand its military-manufactured tyres. The original “Tristar” brand, which clearly bore military origins, has been replaced by the more commercially palatable “Joker”. Exclusive distribution rights were handed to Capital Ace and CRV, another Aung Pyae Sone-owned firm based in Mandalay.

 

This rebranding, sources suggest, is designed to conceal the tyres’ links to the military, allowing them to enter the market unnoticed. The scheme not only helps the junta sidestep sanctions but also consolidates economic power in the hands of the regime’s inner circle.

 

“The latest revelation highlights the junta’s ongoing exploitation of national resources for personal gain, even under economic duress,” said a Burmese economist familiar with the matter.

 

Beyond tyres, Aung Pyae Sone has been active in sectors including construction, tourism, and most recently, solar energy — an area promoted by his father amidst worsening power cuts.

 

The growing footprint of junta-linked businesses has deepened concerns among observers and international watchdogs, who see the military’s economic entrenchment as a key obstacle to both reform and accountability.

 

As Myanmar’s economic crisis grinds on, stories like this offer a stark reminder of who continues to profit — and at what cost.

 

-2025-04-08