Tay Za | |
|---|---|
တေဇ | |
| Born | (1964-07-18)18 July 1964 (age 60) |
| Nationality | Burmese |
| Other names | Tayza, Teza |
| Occupation | Chairman ofHtoo Group of Companies |
| Title | Thiri Pyanchi |
| Spouse | Thida Zaw |
| Children | Pye Phyo Tayza[1] Htoo Htet Tay Za Rachel Tayza |
| Parent(s) | Daw Ohn (mother) Myint Swe (father) |
| Relatives | Thiha (brother) |
Tay Za (Burmese:တေဇ,pronounced[tèza̰]; born 18 July 1964) is a Burmese business tycoon and Chairman ofHtoo Group of Companies. He is a close associate of the country's former head of state,Than Shwe. He is the first Burmese entrepreneur to appear on the cover ofForbes Asia and is the richest man in Myanmar.[1][2]
Tay Za was born on 18 July 1964 inYangon. His father, Myint Swe, was a retired lieutenant colonel at the Ministry of Industry.[2] His father was appointed to the top position at the Tatmadaw Military Research Unit, the equivalent of the Central Intelligence Agency in the United States, after finishing a training course at Fort Benning inGeorgia. Myint Swe was also close with GeneralNe Win, the army general who seized power in the1962 Burmese coup d'état, helped his youngest son Tay Za win the armed forces' trust.[3] He is the youngest of six siblings. He passed the 10th standard at TTC in Yangon in 1982. He attended theDefence Services Academy, as part of the 1982 intake (27th Batch), but dropped out during his third year to marry Thida Zaw (daughter of U Zaw and Daw Htoo ofGyobingauk), against the wishes of both families.[2]
His major business interests includeHtoo Group andAir Bagan, the country's first and only fully privately owned airline.[4] In 2006–2007, Htoo Trading, a division of Htoo Holdings involved inteak log exports, was Burma's top private exporter and fifth largest overall, with gross revenues of $65.1 million.[5] He began his career in the 1980s and started Htoo Group in the early 1990s to extracttimber from Burma's forests.[6]
Other activities include construction,tourism,infrastructure projects, andmobile phone services. He entered the banking industry and set upAsia Green Development Bank when a licence was granted by military junta in 2010 before giving up its power aftergeneral election.[7] His bank was sanctioned by US Government soon after it was established. But it was removed from the list in 2013.[8]
He was an arms broker forex-military regime, helping to buy military hardware fromRussia.[9]
Tay Za's airline Air Bagan is the main sponsor ofYangon United Football Club, one of the nine professional football clubs in Myanmar competing for theMyanmar National League (MNL) title. His son is chairman of the club.
He kept a low profile while theNational League for Democracy was in power, making a comeback after the 2021 coup when he joined a high-ranking military delegation to Moscow in May 2022 for the procurement of arms and military hardware. The military council allows Tay Za's Htoo Group to import over US$5.4 million worth ofpalm oil per month to Myanmar.
In 2007, following protests against the junta on the streets of many cities in Burma, the United States government imposed sanctions against Tay Za and the companies he controls, including Htoo Trading and Air Bagan.[10][11]
On 19 May 2010, his son,Pye Phyo Tayza, lost a legal battle to overturnEuropean Union sanctions against him at theCouncil of the European Union.[12] In March 2012, theEuropean Court of Justice ruled that Pye Phyo Tay Za be allowed to regain access to his accounts in Europe, as he had testified that he was not connected to his father's business interests.[13]
On 7 October 2016, theUnited States Department of the Treasury implemented termination of the Burma Sanctions Program[14] in accordance with the Executive Order issued on the same date by the U.S PresidentBarack Obama,[15] which effectively removed Tay Za, along with other Business Tycoons fromOFAC'sSpecially Designated Nationals list.
On 2 September 2021, Tay Za and his business empire Htoo Group were sanctioned by the UK for providing financial support and arms to Myanmar's military.[16] On 31 January 2022, theU.S. Department of the Treasury added Tay Za and his two sons to itsSpecially Designated Nationals (SDN) list.[17]
Forbes noted that "[Tay Za] has a reputation as a generous boss who instills loyalty in 40,000 full-time staffers. Hundreds of employees have gone overseas to study, including Burma’s first female pilot, and perks quickly accrue to hardworking managers."[2]
Tay Za establishedHtoo Foundation on 5 May 2008, afterCyclone Nargis devastated theAyeyarwady Region and along with his group of companies provided emergency relief supplies to the survivors inBogalay Township, spending over US$8 million for the reconstruction of schools, hospitals, monasteries and government offices in the area.[18][19]
Tay Za married Thida Zaw in 1987, with whom he has three children, Pye Phyo Tay Za (b. 1987), Htoo Htet Tay Za (b. 1993 or 1994), andRachel Tayza.[20][21]
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| National | |
