Tay Za is a Burmese business tycoon, and a close associate of the country"s former head of state, Than Shwe.
Background
According to one source, he was born in 1964 in Yangon. His father, Myint Swe, is a retired lieutenant colonel working for the Ministry of Industry. 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.
Career
He is the youngest of six siblings. He passed 10th standard at TTC of Yangon in 1982. 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 $65.1 million.
He began his career in the 1980s and started Htoo Group in the early 1990s to extract timber from Burma"s forests. Other activities include construction, tourism, infrastructure projects, and mobile phone services.
He enters into banking business and sets up Asia Green Development Bank when a license was granted by military junta in 2010 before giving up its power after general election. His bank was sanctioned by United States Government soon after it was established.
But it was removed from sanction list in 2013.
He was an arms broker for ex-military regime, helping to buy military hardware from Russia. Tay Za"s airline Air Bagan is the main sponsor of Yangon United Football Club, one of the nine professional football clubs in Myanmar competing for the Myanmar National League (MNL) title. In 2007, following protests against the junta on the streets of many cities in Burma, the United States government imposed sanctions against Tay Za and the companie he controls, including Htoo Trading and Air Bagan.
In March 2012, the European Court of Justice ruled that Pye Phyo Tay Za be allowed to regain access to his accounts in Europe, as he had testified that he was not at all connected to his father"s business interests.
Forbes noted that " has a reputation as a generous boss who instills loyalty in 40,000 full-time staffers. Hundreds of employees have gone overseas to study, including Burma’s first female pilot, and perks quickly accrue to hardworking managers."
Tay Za and his companies provided emergency relief supplies to the survivors of Cyclone Nargis in Bogalay Township, Ayeyarwady Region.
His company spent over United States$ 8.0 million for the reconstruction of schools, hospitals, monasteries, and government offices in Bogalay Township. He established Htoo Foundation on 5 May 2008.