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Food & Beverage

Kirin fails to dispel doubts on military-linked Myanmar partner

Reputational risk casts shadow over beer joint ventures in emerging market

YANGON/TOKYO -- Japanese beverage maker Kirin Holdings on Wednesday announced that its audit of the financial and governance structures of its business partner in Myanmar failed to produce results due to a lack of information from its counterpart.

Kirin commissioned Deloitte Tohmatsu Financial Advisory to conduct an independent assessment of its partner, Myanma Economic Holdings, in June. "Unfortunately, the assessment was inconclusive as a result of Deloitte being unable to access sufficient information required to make a definitive determination," Kirin said in a statement.

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