Burma's State Peace and Development Council (SPDC), the military junta that ruled the country since September 1988 under different names, reportedly transferred ownership of over 1,000 acres of rubber plantations, jade mines and gold mines to junta chief Snr-Gen Than Shwe and his family, according to business sources in Rangoon.

The rubber plantations are located in the areas controlled by the Burmese army's Southeast Region Command and Coastal Region Command, and the jade and gold mining sites are in the country's northern Kachin State.

A businessman close to the regime told The Irrawaddy that the transfer had to be completed before the SPDC was dissolved on March 30 and the new government lead by former prime minister Thein Sein was sworn in. He said the rubber plantations were placed in Than Shwe's name and the jade and gold mines, which were under care of the regime's Ministry of Mines, were transferred to his daughters.

A source from the regime's Ministry of Finance and Revenue (MFR) said the ownership of certain premises in Rangoon, Naypyidaw and Maymyo, as well as over 30 vehicles, were put in the names of Than Shwe's children and grandchildren. The transfer of those premises and cars, which were provided to the junta leader by the SPDC, was done without paying any tax to the state, the source said.

The MFR source also said Nay Shwe Thway Aung, Than Shwe's most beloved grandson, has acquired many major properties in Rangoon. One of the properties he has taken over, located on Kabaraye Pagoda Road, used to belong to the Ministry of Industry 1. Others belonged to the Ministry of Science and Technology, the Department of Atomic Energy and the Ministry of Industry 2 located in Yankin Township. He has taken over the land of the duty-free market in Yankin as well, the source said.

Since late 2009, with a pretext of privatization, the SPDC transferred the ownership of state-owned ministry buildings and enterprises in Rangoon and Mandalay to private companies run by leading military figures or regime cronies. Most of the transferred businesses were reportedly acquired by private companies such as Asia World, Max Myanmar, Htoo and IGE.

In addition to the dissolution of the SPDC, Than Shwe handed over his position as the Commander-in-Chief of the Armed Forces to Gen Min Aung Hlaing.

Than Shwe's future role under the new government is not known, but military sources in Naypyidaw said he heads the soon-to-be officially formed State Supreme Council, the highest decision making body in the country that will directly control the armed forces.