Native name တေဇ Spouse Thida Zaw Ethnicity Bamar Role Business tycoon Siblings Thiha Tay Za | Other names Tayza, Teza Name Tay Za Title Thiri Pyanchi Parents Myint Swe | |
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Born 18 July 1964 (age 59) ( 1964-07-18 ) Rangoon, Burma Children Pye Phyo Tay Za, Htet Tay Za, Rachael Tay Za | ||
Tycoon tay za in burma s lottery business
Tay Za ([tèza̰]; Burmese: တေဇ, [tèza̰]; also spelled Tayza or Teza; born 18 July 1964, is a Myanmar Business Tycoon and the Chairman of Htoo Group of Companies, Myanmar. He is a close associate of the country's former head of state, Than Shwe. He is the first Myanmar entrepreneur to appear on the cover of Forbes Asia.
Contents
- Tycoon tay za in burma s lottery business
- Tycoon tay za in burma s lottery business update
- Early life
- Business holdings
- Sanctions
- Reputation
- Charity work
- References
Tycoon tay za in burma s lottery business update
Early life
He was born on 18 July 1964 in Yangon. His father, Myint Swe (deceased), was a retired lieutenant colonel at the Ministry of Industry. He is the youngest of six siblings. He passed 10th standard at TTC of Yangon in 1982. He attended the Defence Services Academy, as part of the 1982 intake, but dropped out during his third year to marry Thida Zaw (daughter of U Zaw and Daw Htoo of Gyobingauk), against the wishes of both families.
Business holdings
His major business interests include Htoo Group and Air Bagan, the country's first and only fully privately owned airline. In 2006–2007, Htoo Trading, a division of Htoo Holdings involved in teak log exports, was Burma's top private exporter and fifth largest overall, with gross revenues of $65.1 million. He began his career in the 1980s and started Htoo Group in the early 1990s to extract timber from Burma's forests.
Other activities include construction, tourism, infrastructure projects, and mobile phone services. He enters into banking business and sets up Asia Green Development Bank when a license was granted by military junta in 2010 before giving up its power after general election. His bank was sanctioned by US Government soon after it was established. But it was removed from sanction list in 2013.
He was an arms broker for ex-military regime, helping to buy military hardware from Russia.
Tay Za's airline Air Bagan is the main sponsor of Yangon United Football Club, one of the nine professional football clubs in Myanmar competing for the Myanmar National League (MNL) title. His son is chairman of the club.
Sanctions
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.
On 19 May 2010, his son, Pye Phyo Tay Za, lost a legal battle to overturn European Union sanctions against him at the Council of the European Union. In March 2012, the European 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 at all connected to his father's business interests.
On 7 October 2016, the United States Department of the Treasury implemented termination of the Burma Sanctions Program in accordance with the Executive Order issued on the same date by the U.S President Barack Obama, which effectively removed Tay Za, along with other Business Tycoons from OFAC's Specially Designated Nationals list.
Reputation
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."
Charity work
Tay Za established Htoo Foundation on 5 May 2008, right after Cyclone Nargis devastated the Ayeyarwady Region and along with his group of companies provided emergency relief supplies to the survivors in Bogalay Township, spending over US$8.00 million for the reconstruction of schools, hospitals, monasteries and government offices in the area.