Chair of Co-operative Bank U Khin Maung Aye also chairs the Kaung Myanmar Aung (KMA) Group of Companies which has interests from hotels and real estate to mining, forestry, agriculture and automobiles.
Another of his businesses, Kaytumadi Development Company (Public), recently bought over 1000 acres of land in Bago Region where it plans to open an industrial zone this December or in early 2016, he told The Myanmar Times. The land is near to the 150 mile point along the highway from Yangon to Nay Pyi Taw, in Taungoo, he said.
“We have permission to build an industrial zone, and now need to present our plans to the Myanmar Investment Commission and other government departments.”
He has already invited investors from China, Japan, South Korea, Singapore and Taiwan to consider opening businesses in the new zone, he said.
The project will cost between K20 billion and K50 billion to build, he said, and the company plans to issue shares to the public worth K10,000 each, to raise the necessary funds. A number of investors from Taungoo will also put up capital. (Courtesy of MMTimes)
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