Thein Tun (businessman)
From Wikipedia, the free encyclopedia
Thein Tun | |
|---|---|
| Born | 26 March 1937 |
| Died | 18 April 2022 (aged 85) |
| Known for | Founder of Myanmar Golden Star |
| Children | 3 |
Thein Tun (Burmese: သိန်းထွန်း; 26 March 1937[1] – 18 April 2022)[1] was a Burmese businessman and founder of Myanmar Golden Star.[2] He was best known for introducing Pepsi into the Burmese market through Myanmar Golden Star in 1991.[2] He benefited from close connections with Tun Kyi, a former Burmese general.[2]
Thein Tun was born in Wakema Township, Irrawaddy Division (now Ayeyarwady Region).[3]
Career
In 1990, Thein Tun introduced Pepsi to the Burmese market, after PepsiCo entered into a 10-year joint venture with Thein Tun's Myanmar Golden Star (MGS).[3] In 1997, amid new US sanctions on the Burmese military junta, PepsiCo exited the Burmese market.[3] In 2014, he sold 70% of MGS' shares to Korean-owned Lotte Chilsung.[3]
Thein Tun also founded Tun Foundation Bank. In 2014, he acquired majority stake in Myanmar Consolidated Media, which owns Myanmar Times.[4] The newspaper suspended operations in February 2021, following the 2021 Myanmar coup d'état, after employees resigned en masse.[3]
