Tay Za’s Son Ridicules US Sanctions
By Wai Moe October 26, 2007
According to an email obtained by The Irrawaddy on Friday, the son of one of the Burmese junta’s biggest cronies, Tay Za, has ridiculed the actions of Western democracies, particularly the US sanctions targeting Burmese military officials’ bank accounts and assets. The email, however, has not been independently confirmed as authentic.
In the email, Htet Tay Za, 19-year-old son of Air Bagan CEO, Tay Za, wrote: “US bans us? We're still f---ing cool in Singapore. See my photos? We're sitting on the whole Burmese GDP. We've got timber, gems and gas to be sold to other countries like Singapore, China, India and Russia.”
He also added that people took to the streets to protest against “a little fuel price hike”, something he considers trivial because he flies back and forth to Burma once a week.
“My brother is rocking on his red brand new Lamborghini Gallardo with hot sexy western chicks,” he goes on in his email. “Come on with Bagan (Air Bagan). It is cheaper than others, right? one US $ makes a lot differences in Burmese currency. And I need another Ferrari to rock on!” [sic]
Htet Tay Za studies at the United World College of South East Asia, an exclusive and expensive school in Singapore
According to an email obtained by The Irrawaddy on Friday, the son of one of the Burmese junta’s biggest cronies, Tay Za, has ridiculed the actions of Western democracies, particularly the US sanctions targeting Burmese military officials’ bank accounts and assets. The email, however, has not been independently confirmed as authentic.
In the email, Htet Tay Za, 19-year-old son of Air Bagan CEO, Tay Za, wrote: “US bans us? We're still f---ing cool in Singapore. See my photos? We're sitting on the whole Burmese GDP. We've got timber, gems and gas to be sold to other countries like Singapore, China, India and Russia.”
He also added that people took to the streets to protest against “a little fuel price hike”, something he considers trivial because he flies back and forth to Burma once a week.
“My brother is rocking on his red brand new Lamborghini Gallardo with hot sexy western chicks,” he goes on in his email. “Come on with Bagan (Air Bagan). It is cheaper than others, right? one US $ makes a lot differences in Burmese currency. And I need another Ferrari to rock on!” [sic]
Htet Tay Za studies at the United World College of South East Asia, an exclusive and expensive school in Singapore
Tay Za: A Targeted Sanction Hits the Bulls-eye
By Aung Zaw October 26, 2007
The high-flying young Burmese tycoon Tay Za is grounded—at least for now.
Faced with fresh US sanctions imposed by President George W Bush, Tay Za, 43, may be in serious financial trouble, say Rangoon sources.
The new US-imposed sanctions against Burma's military government, put into effect on October 19, froze the bank accounts of an additional 25 military officials and 12 businessmen or business entities closely associated with the regime.
Bush’s executive order has made life difficult for Tay Za's companies, which are either based in Burma or linked to Singapore: Pavo Trading Pte Ltd, Air Bagan Holdings Pte Ltd and Htoo Wood Products Pte Ltd. Pavo Trading is a sister company of the Htoo Group of Companies run by Tay Za.
The targeted sanctions have hit at least one target where it hurts: in his pocketbook.
This week, Air Bagan Ltd suspended flights from Rangoon to Singapore, as of November 4, citing the effects of the economic sanctions against the airline's owner, Tay Za.
“It is no longer profitable… the airline has very few passengers,” a businessman close to Tay Za told The Irrawaddy on Friday.
A letter signed by the airline's sales and marketing manager, released on Wednesday, said "the final blow" came when the company was informed by its Singapore bank that "they will no longer deal with us for the time being."
“Sanctions have been imposed on our airline and also our parent company in Singapore," the letter said. "This has indeed caused us a lot of pain and anguish, as with these sanctions we now have no access to aircraft spare parts. We are now facing some major obstacles that need to be dealt with in the next few months."
Gossip is swirling around Tay Za in Rangoon business circles. Rivals are watching his new difficulties with a mixture of envy and delight.
“He planned to launch an ocean liner, and he had sent a survey team to Singapore,” a journalist in Rangoon told The Irrawaddy“But now, I was told that he is in debt.”
Many businessmen in Burma resent Tay Za and his business empire, especially his close connection to junta leader Snr-Gen Than Shwe and his family, and Gen Thura Shwe Mann, friendships which have brought him exclusive business opportunities and great wealth.
“There is no fairness in our open-market economy,” said a businessman who requested anonymity. “Tay Za is always rewarded with export and import licenses and government projects.”
Earlier, the gossip mill in Rangoon bestowed a derisive nickname on Tay Za: "Thura," as in "Thu=He" and "Ra= Be Given." "He Be Given," because he won all the favorable business deals.
One example: airplanes owned by Tay Za parked at the Rangoon International Airport are not obliged to pay parking fees and last year the government loaned ATR (Fokker) aircraft to Air Bagan. Unconfirmed reports also say that Than Shwe’s family members have business shares in Air Bagan.
Tay Za may be knocked down a notch or two in his bank book, but the tycoon has no shortage of friends in high places, sources say, and he has apparently hedged his bet on the future by befriending Kyaing San Shwe, Than Shwe’s son, as one of his circle of friends.
A few years ago, diplomatic sources say, Tay Za sealed his friendship by buying Kyaing San Shwe an American-made Hummer, the civilian version of the military Humvee, a status symbol in America, which now turns heads on Rangoon streets.
Courting the children of powerful generals and placing them on the boards of his companies appears to be one of Tay Za’s business strategies. An important coup was his friendship with Aung Thet Mann, the son of the junta’s No. 3 leader, Gen Thura Shwe Mann, who is tipped to take over the leadership when Than Shwe goes.
Aung Thet Mann, a young businessman who is also on the US sanction list, is on the board of Htoo Trading Company, and Aung Thet Mann’s company, Ayer Shwe Wah, is now a part of Htoo trading Company.
Tay Za set up his first company after he dropped out of the Defense Services Academy and eloped with his girlfriend, Thida Zaw. With an initial capital investment of US $333,333, the company exported timber and over the years Tay Za gained timber rights over large areas of virgin forests. Tay Za was close to former forestry minister Lt- Gen Chit Swe. A famous story among businessmen in Burma says the young tycoon rushed to the home of Lt-Gen Chit Swe, offering him 200 million kyat when the minister was purged in 1997.
The Htoo Trading Company now deals in timber, transport, tourism, construction, property development, palm oil production and military arms deal.
Tay Za subsequently expanded his dealings with the Rangoon regime by supplying the military with aircraft parts through his company Myanmar Avia Export, Burma’s sole representative for Russia's Export Military Industrial Group, known as MAPO, and of the Russian helicopter company, Rostvertol.
Military analysts say Tay Za was instrumental in the junta’s decision to purchase advanced MIG-29 fighter-bombers and helicopters from Russia. Informed Rangoon sources say many Russian arms dealers who visit Rangoon stay at one of Tay Za’s hotels, especially Espace Avenir, an executive apartment complex.
In spite of having no direct business investments in America, Tay Za appears to be feeling the effects of targeted sanctions, and he is paying a price for being the No. 1 friend of the junta.
The high-flying young Burmese tycoon Tay Za is grounded—at least for now.
Faced with fresh US sanctions imposed by President George W Bush, Tay Za, 43, may be in serious financial trouble, say Rangoon sources.
The new US-imposed sanctions against Burma's military government, put into effect on October 19, froze the bank accounts of an additional 25 military officials and 12 businessmen or business entities closely associated with the regime.
Bush’s executive order has made life difficult for Tay Za's companies, which are either based in Burma or linked to Singapore: Pavo Trading Pte Ltd, Air Bagan Holdings Pte Ltd and Htoo Wood Products Pte Ltd. Pavo Trading is a sister company of the Htoo Group of Companies run by Tay Za.
The targeted sanctions have hit at least one target where it hurts: in his pocketbook.
This week, Air Bagan Ltd suspended flights from Rangoon to Singapore, as of November 4, citing the effects of the economic sanctions against the airline's owner, Tay Za.
“It is no longer profitable… the airline has very few passengers,” a businessman close to Tay Za told The Irrawaddy on Friday.
A letter signed by the airline's sales and marketing manager, released on Wednesday, said "the final blow" came when the company was informed by its Singapore bank that "they will no longer deal with us for the time being."
“Sanctions have been imposed on our airline and also our parent company in Singapore," the letter said. "This has indeed caused us a lot of pain and anguish, as with these sanctions we now have no access to aircraft spare parts. We are now facing some major obstacles that need to be dealt with in the next few months."
Gossip is swirling around Tay Za in Rangoon business circles. Rivals are watching his new difficulties with a mixture of envy and delight.
“He planned to launch an ocean liner, and he had sent a survey team to Singapore,” a journalist in Rangoon told The Irrawaddy“But now, I was told that he is in debt.”
Many businessmen in Burma resent Tay Za and his business empire, especially his close connection to junta leader Snr-Gen Than Shwe and his family, and Gen Thura Shwe Mann, friendships which have brought him exclusive business opportunities and great wealth.
“There is no fairness in our open-market economy,” said a businessman who requested anonymity. “Tay Za is always rewarded with export and import licenses and government projects.”
Earlier, the gossip mill in Rangoon bestowed a derisive nickname on Tay Za: "Thura," as in "Thu=He" and "Ra= Be Given." "He Be Given," because he won all the favorable business deals.
One example: airplanes owned by Tay Za parked at the Rangoon International Airport are not obliged to pay parking fees and last year the government loaned ATR (Fokker) aircraft to Air Bagan. Unconfirmed reports also say that Than Shwe’s family members have business shares in Air Bagan.
Tay Za may be knocked down a notch or two in his bank book, but the tycoon has no shortage of friends in high places, sources say, and he has apparently hedged his bet on the future by befriending Kyaing San Shwe, Than Shwe’s son, as one of his circle of friends.
A few years ago, diplomatic sources say, Tay Za sealed his friendship by buying Kyaing San Shwe an American-made Hummer, the civilian version of the military Humvee, a status symbol in America, which now turns heads on Rangoon streets.
Courting the children of powerful generals and placing them on the boards of his companies appears to be one of Tay Za’s business strategies. An important coup was his friendship with Aung Thet Mann, the son of the junta’s No. 3 leader, Gen Thura Shwe Mann, who is tipped to take over the leadership when Than Shwe goes.
Aung Thet Mann, a young businessman who is also on the US sanction list, is on the board of Htoo Trading Company, and Aung Thet Mann’s company, Ayer Shwe Wah, is now a part of Htoo trading Company.
Tay Za set up his first company after he dropped out of the Defense Services Academy and eloped with his girlfriend, Thida Zaw. With an initial capital investment of US $333,333, the company exported timber and over the years Tay Za gained timber rights over large areas of virgin forests. Tay Za was close to former forestry minister Lt- Gen Chit Swe. A famous story among businessmen in Burma says the young tycoon rushed to the home of Lt-Gen Chit Swe, offering him 200 million kyat when the minister was purged in 1997.
The Htoo Trading Company now deals in timber, transport, tourism, construction, property development, palm oil production and military arms deal.
Tay Za subsequently expanded his dealings with the Rangoon regime by supplying the military with aircraft parts through his company Myanmar Avia Export, Burma’s sole representative for Russia's Export Military Industrial Group, known as MAPO, and of the Russian helicopter company, Rostvertol.
Military analysts say Tay Za was instrumental in the junta’s decision to purchase advanced MIG-29 fighter-bombers and helicopters from Russia. Informed Rangoon sources say many Russian arms dealers who visit Rangoon stay at one of Tay Za’s hotels, especially Espace Avenir, an executive apartment complex.
In spite of having no direct business investments in America, Tay Za appears to be feeling the effects of targeted sanctions, and he is paying a price for being the No. 1 friend of the junta.
