Myat Thin Aung
Birth: 27 February 1938
Source of wealth: AA Medical
Address: 408-410, Mahabandoola St, #07-00, Kyauktada Tsp, YANGON
Business: Pharmaceuticals Production, Motor Distribution, Petrol Chemical Lubricants Distribution
Myat Thin Aung established AA Medical Product in 1996. The company has grown into one of the biggest pharmaceutical companies in Myanmar, with over 700 employees, more than 140 delivery vehicles and a branch office in Singapore. AA Medical is the first company to build a pharmaceutical factory in Myanmar.
“We have to go through the very foundation to reform our country’s economy. To do so, the Union Government and the Regional Governments have the responsibility to raise the business opportunities in rural areas.”
Government-owned pharmaceutical factories can only satisfy the local market requirement to a small percentage, with the remainder (about 90%) fulfilled by imports from foreign markets. To reduce foreign imports and increase local pharmaceutical production and distribution, AA Medical set up the first pharmaceutical factory in Myanmar. After 1997, AA Medical Product set up a branch in Singapore and imported necessary medicine and engine oil into Myanmar. Today AA Medical Product is one of Myanmar’s leading pharmaceutical distribution companies, with headquarters in Yangon and branches in Mandalay, Myitkyina, Mawlamyaing, Taunggyi, Lashio, Magway, Sittwe, Kalay, Meik, Dawei, Pathein and Naypyitaw. The company has over 700 employees and distributes medicines to over 6,300 places including shops, hospitals and clinics. AA Medical Group of companies is also the largest supplier of petrol chemical lubricants in Myanmar. In 2014, America-based General Motors awarded AA Medical Product the status of Chevrolet National Distributor.
Myat Thin Aung is the Chairman of AA group of companies. He also serves as the President of Ye-Me-Thin Association, member of Central Executive Committee of Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI), patron of Hlaing Thayar Industrial City Management Committee and as an executive member of the Myanmar China Friendship Association. Furthermore, he is the Chairman of the Remuneration Committee and a non-executive vice-chairman of First Myanmar Investment (FMI), the first company to be listed on the Yangon Stack Exchange in 2016.
Myat Thin Aung also serves on the Board of Directors of Yoma Bank. Although, Yoma Bank struggled under Myanmar’s military rule, it regained its position to achieve success in more recent years. The bank also ranked in the 2016 list of top tax payers. With over 70 branches in Myanmar, Yoma Bank is aiming to become a leading SME Bank in Myanmar.
Myat Thin Aung served as the President of Myanmar Industries Association (MIA) in 2015-2016. He was responsible for development of industrial zones and manufacturing rates. In 2012, Urban and Housing Development Department assigned Yangon City Development Committee (YCDC) to land and general affair management of Yangon industrial zones. Among nine industrial zones in Hlaing Tharyar, Myat Thin Aung took care of six zones as the President of Hlaing Tharyar Industrial Zone Management Committee until 2016. His responsibilities included development of the zone, electricity supply improvements, handling illegal tenants and improvement of road transportation. He continues to work as a patron after his retirement from serving as Management Committee’s President.
Myat Thin Aung currently serves as a Central Executive Committee member of Union Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) and the President of Ye-Me-Thin Association. He was also an active speaker when the government amended the interim minimum wage to K3,600 in 2015.
Myat Thin Aung is married to Khin Myint Myint and has six children. His wife won Miss Burma prize in 1961 and also participated in Miss Universe 1961 in Florida, Miami. Khin Khin Myint worked in Myanmar’s rice industry, machinery imports from Japan and foodstuff production businesses since 1988 (i.e. long before the market economy system). She was also a member of the Myanmar Women’s Entrepreneurs Association, Women’s Traditional Sports Club, Myanmar Body Beauty and Body Building Federation, Myanmar Disabled Sportsperson Club and other non-government associations. She was honored as “Agga Maha Siri Thudhama Thaingi” for her many volunteer activities and generous donations. She died at the age of 66 with heart disease.
Myat Thin Aung’s AA Medical product has been doing educational and healthcare CSR activities since 1996 and it supported medicine and food to the Nargis effected areas in 2008. Myanmar’s Ministry of Health and Sport and Myat Thin Aung gave scholarship to 30 students to attend Yangon University of Medicine, the Mandalay University of Medicine and the University of Nursing. He sponsored a joint-program with Chongwan University, Korea and gave Ph.D. scholarships and Masters Degree scholarships to the employees of Food and Drug Administration (FDA), a sub-association of the Ministry of Health and Sport.
Myat Thin Aung founded Pacific AA Foundation to promote CSR activities, financial donations and health care for disaster-affected areas. He was assigned as a health care distributor of PSI Myanmar in March, 2018. He is also the President of Happy Friday, a volunteer association.