Myanmar Brewery Limited, producing Myanmar beer on a joint venture between Myanmar Economic Holdings Limited and Kirin Beer Company of Japan, has filed for abolition at a court.

A notice was put in the November 22 issue of the state-run Myanma Alin Daily. It says the filing was sent to Yangon West District Court on November 19 in accord with Section 298 (f) of the Companies Act, and a hearing will take place on December 10.   

The notice also says that any debtor, creditor or shareholder may object to the court ruling over company abolition.

Kirin Group has announced that the third quarter’s profit for Myanmar Brewery has declined by 49.4% in calculation of Japanese yen or 43.9% in calculation of Myanmar kyats when compared to the same period of last year.

Kirin Holding based in Japan went into partnership with MEHL in 2015 and bought some shares of Myanmar Brewery for US$560 million. Kirin possesses 51% of shares and MEHL 49%.