Tycoon Turf
covering burma and southeast asia
Tuesday, September 25, 2018
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COVER STORY

Tycoon Turf


By Aung Zaw SEPTEMBER, 2005 - VOLUME 13 NO.9


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(Page 7 of 14)

He is the president of Kanbawza Bank, established in 2000, and is known to enjoy a close relationship with Deputy Snr-Gen Maung Aye, the vice chairman of Burma’s ruling junta.

 

Aung Ko Win’s connections with Maung Aye, and the accumulation of his considerable wealth, began in the early 1990s as a purchaser for the Shan Yoma Shopping Center in Tachilek (owned by then commander Maung Aye). He also supervised gold and gem mines in Mong Hshu, Shan State.

 

Since his humble beginnings in business, which included forays in agricultural business and imports—he was previously the only person to possess an import license for cement—Aung Ko Win has headed several successful enterprises, including the Myanmar Billion Group, Nilayoma Co, and Kanbawza Hospital in Taunggyi, Shan State. Ever willing to exploit less extravagant business options, Aung Ko Win also serves as the local agent for London Cigarettes in Shan and Karenni states.

 

Aung Ko Win assumed control of Kanbawza Bank with substantial financial backing from businessmen in the cooking oil and gem industries. As with other Burmese tycoons, Aung Ko Win has also used his wealth to support civic and cultural development. Rangoon press has reported that he donated a significant portion of the bank’s annual profits to Burma’s national football team and gave US $2.85 million to various public projects, including the renovation of Shwedagon Pagoda in Rangoon.

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Serge PunSerge Pun

 

Born in Rangoon in 1953, Serge Pun—chairman of the multinational SPA Group and Rangoon’s Yoma Bank—left Burma for Beijing in 1965, three years after the newly minted dictator, Gen Ne Win, seized power and began expelling foreign residents.

 

Serge Pun spent many of his formative years within China’s turbulent Cultural Revolution, during which he was “re-educated” on remote farms throughout the country. He left China in 1973 for Hong Kong, where he began his career in real estate before establishing Serge Pun & Associates—primarily active in property developments across Asia, Europe and North America—in 1983.



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