Birth: 19 October 1962
Source of wealth: Green Light
Address: No.2, Junction Square Shop House, Between Pyay Rd & Kyuntaw Rd, Kamaryut Tsp, YANGON
Business: Mining, Gems and Jewelry, Insurance, Industrial
Yone Mu set up family-owned Green Light in 1999. The enterprise has grown into a successful company with approximately 3,000 employees. Green Light mainly focuses on gem exploration (with gem mines located in Hpakant, Kachin State) and distribution of value-added jewellery. Yone Mu also serves as the President of The Republic of The Union of Myanmar Federation of Gems and Jewellery Entrepreneurs Association.
“Myanmar business reformation is now underway. I want to gain profit for my country by treasuring natural resources and using them effectively and efficiently.”
Born in Moe Mauk in the Kachin Region of Northern Myanmar, Yone Mu is from Maingtha ethnic group that was involved in a civil war between the government and the ethnic militias. The conflict disrupted local lives and Yone Mu, like many others, could only finish up to middle school. At 15, he worked as a blacksmith and sold his crafts in Myitkyina, Moe Kaung and Bamaw. Ats 16, he started sales in Hpakant and took interest in jade exploring industry. Hpakant is famous as the Jade Land of Myanmar. Realising that jewellery and mining is a promising industry, he found his career.
In 1989, Yone Mu entered the Yangon-based jade industry and met with lots of well-educated people. He looked up to these acquaintances and worked together with them. However, his early experiences cost him time and money, teaching him that loyalty is difficult to find and self-reliance was the better path. He set up his own company, founded on his belief that honesty and determination are the keys to success. He studied the tools and techniques of the jade industry on his own and he saw that businessmen boost their business by setting up companies.
Yone Mu set up Green Light Company in 1999. Today, Green Light has approximately 3,000 employees, specialising in gem mining and distribution of finished goods. Most of the mines of Green Light are in Hpakant, Kachin Region. Forming a business partnership with Myanmar War-Veteran Organization and Shwe Innwa, Green Light operates Ka-Yin Chaung Mining, Sha Yaung Kha Mining and also Myauk Phyu Mining (a partnership with Myanmar’s Ministry of Mining). The company is also involved in teak planation in Bamaw. Green Light has plans to upgrade the gems and jewellery sector by expanding business operations from raw material export to fine material distribution. In 2000, Yone Mu established Sein Lin Jewellery for distribution, situated in Junction Square (a landmark in Yangon). With the intention to step into the construction industry, he set up Green Light Construction in 2001.
He summited a proposal to the government concerning the development of gems and jewellery industry. It is stated that only qualified companies that have gem refining factories and jewellery showrooms should have a mining permit so that fine jewellery can be made and the standard of Myanmar jewellery industry will raise in the international market. Seeing his reports on development of fine jewellery manufacturing, the government decided to exempt taxation on fine jewellery export and distribution.
Yone Mu has formed business partnership with other tycoons to expand his business into various industries. He acts as a director in Denko Trading which is operated by Eden Chit Khine, and invests in Grand Guardian Insurance operated by the CEO of Shwe Taung Development. He has also invested in Junction City Office Tower, Retail Mall and Pan Pacific 5-Star Hotel. All these businesses are not only successful but also ranked among the top tax payers in 2016-2017 fiscal year. Yone Mu set up Sein Kabar penan bag factory in Shwe Pyi Thar, Yangon and also established Myanmar United Power (MUP) for electric power distribution and transformer installation in Mandalay. Later, he founded Green World Industry and formed business partnerships with local companies to step into the garment and textile industry. Yone Mu principally supports the oversight and office management, delegating the business operations to his partners who are more familiar with garment and textile industry.
Yone Mu enthusiastically served in the Founder Committee of the Republic of The Union of Myanmar Federation of Gems and Jewellery Entrepreneurs Association (UMFGJE). He served as a vice-president when the association was founded in 2006 and currently serves as the President of UMFGJE. The first President of UMFGJE is Tay Za from Htoo Group of Companies. The association is capable of collecting lots of funds for the development of gems and jewellery industry and started the very first fine jewellery manufacturing training center in 2016 in Naypyitaw. The training center provides free lectures and supplies the workforce needed in Myanmar’s gems and jewellery industry.
While serving as the President of UMFGJE, Yone Mu set 8 March the Myanmar Gems and Jewellery Day and held gems and jewellery sector development seminars for local gems entrepreneurs. He hosted the 6th ASEAN Economic Community (AEC) and 8th Gems and Jewellery President Summit in 2017, which is held once every 10 years. At the summit, he was praised for successfully selling local gems through auction. Guests from ASEAN countries and other foreign countries with developed gems sectors attended the summit. UMFGJE also succeeded in eradicating 1% after-sale taxation policy on exhibitions’ gems sale.
Yone Mu was elected as the President of Yunan Association, Yangon, for his honesty and loyalty.