Product Code Database
Asia World Group () is a Burmese conglomerate. It is Myanmar's largest and most diversified conglomerate, with interests in industrial development, construction, transportation, import-export, and a local supermarket chain. About half of Singapore's investment in Myanmar (totaling US$1.3 billion in 2000) comes from Asia World affiliates.
Asia World's controls includes the following enterprises and businesses:
Six subsidiary companies of Asia World, including Ahlone Wharves, Asia Light, Asia World Company, Asia World Industries, Asia World Port Management, and Leo Express Bus, are currently sanctioned by the British government as part of investment bans in Burma. Since 2008, Asia World and its subsidiaries, including those run in Singapore, have been part of American targeted sanctions.
Between 2007 and 2008, Asia World was responsible for a major expansion project at Yangon International Airport. The company, with the technical assistance of Singaporean firm CPG Consultants, was also responsible for developing and constructing Nay Pyi Taw International Airport, which opened on 19 December 2011.
In August 2013, Asia World was granted permission by Myanmar's government to distribute electricity to 37 towns in the Eastern Bago region of the country.
Asia World was one of two major contractors (the other being Htoo Group of Companies) to build the country's new capital at Naypyidaw, including the National Landmark Garden. The company, with the technical assistance of Singaporean firm CPG Consultants, was also responsible for developing and constructing Naypyidaw Airport, which opened on 19 December 2011. Asia World was responsible for a major Yangon International Airport expansion project, including the construction of a new international terminal (opened May 2007) and extension of existing runways (completed July 2008).
The company has also partnered with China Power Investment Corporation to build controversial dams (including the Myitsone Dam) along the Irrawaddy River in Kachin State. In Yangon, the company has stakes in supermarkets, office towers, condominiums and road construction. In 2011, it partnered with the Yangon City Development Committee to upgrade Strand Road. The company is also involved in garment industries, beer production (Tiger Beer), paper mills, palm oil and infrastructure development. Asia World has also operated a port in Yangon's Ahlone Township since 2000
In July 2010, the government granted Asia World control of Yangon International Airport's passenger services operations and management, including collections of departure taxes.
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