Asia World
| Industry | Construction, Infrastructure, Energy, Manufacturing, Import-Export, Retail |
|---|---|
| Founded | 5 June 1992 |
| Founder | Lo Hsing Han, Steven Law (Htun Myint Naing) |
| Headquarters | Singapore, Yangon, Myanmar (Burma) |
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Key people
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Lo Hsing Han, Steven Law (Tun Myint Naing), Cecilia Ng (Ng Sor Hong) |
| Divisions | Asia World Company |
| Subsidiaries | Asia World Co Ltd., Asia World Port Management, Asia World Industries Ltd., Asia Light, Kokang Singapore Pte Ltd., Golden Aaron Pte Ltd., Pioneer Aerodrome Services Company Ltd., Yangon Aerodrome Company Ltd. |
| Website | www |
Asia World Group (Burmese: အာရှဓန ကုမ္ပဏီ) 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 $1.3 billion USD in 2000) comes from Asia World affiliates.
Asia World is one of a few private companies in Myanmar that are involved in port management. According to the Myanmar Port Authority (MPA), Asia World's subsidiary Asia World Port had the largest share of country’s freight market in the fiscal year 2012–13, handling 45 per cent of goods that passed through Yangon. In addition to freight handling, Asia World Port handles general goods at Myanmar. In August 2011, Asia World was one of four companies to be granted government licences to import and sell fuel in the country.
Asia World's controls includes the following enterprises and businesses:
The company's founder, Lo Hsing Han, is an ethnic Kokang Chinese who controlled one of Southeast Asia's largest heroin trafficking armies. Ten more companies in the group are owned in Singapore, under the name of Cecilia Ng (Ng Sor Hong), Steven Law's wife, who US government officials allege operate an underground banking network that helps transport drug money from Burma to Singapore. The company is associated to the United Wa State Army. Asia World is widely believed to have committed money laundering to fund its activities and business expansions.
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.
Asia World paved and widened the Burma Road that links Myanmar to China in 1998. The company has also operated toll booths on Burma Road since 1998. In 2000, Asia World constructed a major road connecting the port city of Pathein to the beach resort of Ngwesaung.
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Wikipedia