Chit Khaing
| Chit Khine | |
|---|---|
| Native name | ချစ်ခိုင် |
| Born |
1948 (age 67) Danubyu Township, Irrawaddy Division, Burma |
| Nationality | Burmese |
| Occupation | Founder and CEO of Eden Group |
| Net worth | US$ 2.2 billion |
| Spouse(s) | Khin Soe Wai |
| Children | 5 children |
Chit Khine (Burmese: ချစ်ခိုင်, born 1948 in Danubyu Township, Irrawaddy Division, Burma) is one of Burma's top few richest business tycoon and president of Eden Group, one of Myanmar's largest and most successful conglomerates. He also serves as a director and largest shareholder of Asia General Electric (AGE), founded in 2008 to manufacture transformers and electrical switches.[1]
He is well-known for his close relationship with the former ruling junta, the State Peace and Development Council. He is believed to have funded the wedding of Thandar Shwe, Than Shwe's daughter.[2] Eden Group was one of the only 8 indigenous companies to construct Naypyidaw, the country's new capital.[3] In exchange, the Burmese government granted Eden Group several highly coveted licenses to import high-end automobiles into the country.[3]
Chit Khine is subject to European Union, British and American economic sanctions.[4][5][6]
In the early 1980s, he entered the restaurant business by opening Eden restaurant in Rangoon.[7] In the late 1980s, Chit Khine was jailed briefly for his participation in the 8888 Uprising.[8] He founded a construction company, Eden Group, in the mid-1990s.[8]
Chit Khine formerly owned Delta United FC (now the Ayeyawady United F.C.), a football club in Ayewarwady Region.[9][10]
In 2010, Chit Khine, along with other government proxies, received preferential private banking licenses from the Central Bank of Myanmar.[11] In 2011, he established Myanma Apex Bank (MAB), one of the country's few private banks.[12]
Chit Khine serves as the head of the Myanmar Rowing and Canoeing Federation (MRCF), the Myanmar Agribusiness Public Corporation and the Myanmar Rice Industry Association (MRIA).[13][14][15]
Business portfolio
Chit Khine's portfolio includes a restaurant franchise, a construction company, tourist resorts, coal mines, a private bank, a petroleum company, agriculture, electronics manufacturing company, and a few other businesses based in Singapore and Thailand, [8][16] agri-business and trading. Eden Group signed a joint-venture contract with Virginia based Hilton Hotels & Resorts in June 2014. 4 of his hotels will be operated under the management Hilton.[17] Chit Khine's has invested $50 million in his newest hotel, Hilton Garden Resort Hotel which recently opened in Naypyidaw.[17]
- Eden Group - Kamayut Township, Yangon
- Eden Shipping Ports
- Eden Constructions
- MAPCO & MRF
- Agri-business
- Denko Trading Co.,Ltd & Denko Overseas Co.,Ltd Singapore
- Petroleum and diesel
- Restaurants
- Eden BBB Restaurant, Bagan
- Signature Restaurant, Bahan Township, Yangon
- Fuji Coffee House, Yangon
- Hotel and Tourism
- Aye Tha Ya Golf Resort, Taunggyi
- Thingaha Hotel, Naypyidaw
- Thingaha Garden Resort Hotel, Naypyidaw
- Marina Residence, Mayangon Township, Yangon
- Eden Garden Resort Hotel, Taunggyi
- Thingaha Resort Hotel, Bagan
- Thingaha Resort Hotel, Bagan 2
- Thingaha Resort Hotel, Ngapali
- Thingaha Resort, Inle
- Thingaha Resort, Mandalay
- Thingaha Hotel, Yangon
- Banking
- Myanma Apex Bank, MAB
- Mining
- Eden Energy
- Electronics manufacturing
- Asia General Electric co.,ltd
References
- ↑ Han Oo Khin (21 December 2009). "AGE firm begins making transformers". Myanmar Times. Retrieved 29 October 2012.
- ↑ "Video of Junta Chief’s Bejeweled Daughter Hits Web". The Irrawaddy. 31 October 2006. Retrieved 29 October 2012.
- ↑ 3.0 3.1 Allchin, Joseph (20 September 2011). "Car swap scheme looks to cut pollution". Democratic Voice of Burma. Retrieved 29 October 2012.
- ↑ "Burma Relaxes Banking Regulations". The Irrawaddy. 14 June 2010. Retrieved 29 October 2012.
- ↑ "Commission Regulation (EU) No 411/2010". European Commission. 10 May 2010. Retrieved 29 October 2012.
- ↑ "Burma/Myanmar COMMISSION REGULATION (EC) NO 385/2008" (PDF). Financial Sanctions Notification. HM Treasury. 2 May 2008. Retrieved 29 October 2012.
- ↑ Aung Zaw (September 2005). "Chit Khaing". The Irrawaddy. Retrieved 29 October 2012.
- ↑ 8.0 8.1 8.2 "EDEN GROUP PROSPERING DUE TO REGIME CONNECTIONS". Embassy of the United States Rangoon, Burma. 16 November 2007. Retrieved 29 October 2012.
- ↑ Han Oo Khin (9 March 2009). "New era for football". Myanmar Times. Retrieved 29 October 2012.
- ↑ "Delta United Owner Changed". Soccer Myanmar.com (in Burmese). 2009-04-11. Retrieved 2009-05-14.
- ↑ McCartan, Brian (22 December 2010). "A crony rises in Myanmar". Asia Times. Retrieved 29 October 2012.
- ↑ "Asia Green Development Bank launches e-banking". Myanmar Business Network. 31 July 2011. Retrieved 29 October 2012.
- ↑ Thein Win Nyo (24 December 2007). "Smoke on the water: Myanmar boat racers make waves". Myanmar Times. Retrieved 29 October 2012.
- ↑ "Photo News - July 2012". Mizzima. July 2012. Retrieved 29 October 2012.
- ↑ "MAPCO to pick up agricultural products". New Light of Myanmar. 27 August 2012. Retrieved 29 October 2012.
- ↑ "Chit Khaing's Tourism Expansion". United States Embassy at Rangoon, Burma. 3 March 2008. Retrieved 29 October 2012.
- ↑ 17.0 17.1 "Hilton partners with Eden Group, announces five new hotels". www.mmtimes.com. Zaw Win Than and Tim Mclaughlin (15 June 2014). Retrieved 16 July 2014.