Capital Diamond Star Group

Name

Capital Diamond Star Group

Legal name

Capital Diamond Star Group Limited

Website

http://www.cdsg.com.mm

Company type

Private

Founded year

1960

Operating status

Operating

Ownership category

akta.pro rank

Product category

Diversified Conglomerate

NAICS

Starch and Vegetable Fats and Oils Manufacturing (31122), Depository Credit Intermediation (5221), Management of Companies and Enterprises (551), Warehouse Clubs, Supercenters, and Other General Merchandise Retailers (4552)

SIC

Commercial Banks, Nec (6029)

akta.pro primary industry

Native Starches & Flours (Corn, Potato, Tapioca, Wheat, Rice) (AFAJABAB)

Keywords

• Diversified conglomerate operations
• Consumer food manufacturing
• Multi-format retail
• Commercial and microfinance banking
• Automotive vehicle distribution

Headquarters

HQ city

Yangon

HQ country

Myanmar (Burma)

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Food Manufacturing & Distribution: Wheat flour production (1,160 tons/day capacity), branded consumer foods including Premier instant coffee (market leader with 50%+ market share), baking ingredients, and instant noodles. Operating under Lluvia Limited joint venture with Mitsubishi Corporation.
2. Retail Operations: Capital Hypermarket (hypermarket and supermarket chain), G&G Convenience Stores (largest convenience store chain in Myanmar with 230+ stores), Wellington Pharmacy
3. Banking & Financial Services: Myanmar Citizens Bank (commercial and SME banking, corporate and retail banking), Capital Taiyo Life Insurance (life insurance products), Citizens Pay (digital payment services), Fortune Fund Myanmar (microfinance)
4. Automotive Distribution: Capital Automotive (sole authorized distributor for Ford, Jaguar, Land Rover, John Deere; assembly of Ford Ranger Double Cab and Ford Everest SUV). Premier Automotive (exclusive GEELY distributor since 2020, FAW dealer). 46% market share in premium segment.
5. Real Estate Development: Capital Development Limited - commercial and residential property development including GEMS Garden Condominiums, Capital Mall, Mandalay Financial Center, CDSG Head Office
6. Healthcare Distribution: JDS Co., Ltd. - pharmaceutical and medical products distribution with 700+ SKUs from 35 business partners, 95%+ distribution coverage across Myanmar
7. Agribusiness: Aventine Limited - fertilizer, plant protection products, seeds distribution under ARMO, Eagle, Diamond brands. Agricultural commodity export.
8. Bulk Terminal & Logistics: International Bulk Terminal Thilawa (IBTT) - port facilities for bulk carriers and handling of crop and bulk cargoes

Go-to-market motion3 records

Distribution channels7 records

Marketing channels5 records

Core offering

Capital Diamond Star Group is a Myanmar conglomerate that manufactures and distributes consumer food products, operates multi-format retail outlets, develops real estate, runs hospitals and pharmacies, delivers banking, microfinance, life insurance and digital payment services, and distributes passenger and commercial vehicles through authorized dealerships. Its operations span six business clusters — Food, Retail, Real Estate, Health Care, Financial Services, and Automotive — and incorporate joint ventures with Mitsubishi Corporation, RMA Group, and Taiyo Life Insurance.

Product overview

Capital Diamond Star Group (CDSG) is a diversified conglomerate operating a multi-segment portfolio across six business clusters: Food, Retail, Real Estate, Health Care, Financial Services, and Automotive. The food cluster includes market-leading wheat flour operations (Diamond Star/Rocket brands with 50%+ market share), branded consumer foods (Premier instant coffee, instant noodles), agribusiness (fertilizers, seeds), and bulk terminal operations—mostly consolidated under Lluvia Limited, a joint venture with Mitsubishi Corporation. The retail cluster encompasses Myanmar's largest convenience store chain (g&g with 230+ stores), hypermarket operations, and pharmacy retail. Financial services include Myanmar Citizens Bank (nearly 50 branches), Capital Taiyo Life Insurance, Citizens Pay digital payment platform (50,000+ merchant acceptance), and Fortune Fund Myanmar microfinance (740,000+ clients). The automotive cluster comprises Capital Automotive (Ford/Jaguar/Land Rover/John Deere distributor, 46% premium market share, ISO 9001-2015 certified) and Premier Automotive (Geely/FAW exclusive distributor). Real estate operations through Capital Development Limited include residential towers, shopping malls, and commercial complexes totaling over 2.2 million sq ft. Healthcare distribution through JDS covers pharmaceuticals with cold chain capabilities and ISO-certified warehousing.

Differentiator

Problem solved

Functional benefit

Brands

• Diamond Star (Wheat Flour): Market-leading wheat flour brand with over 50% market share in Myanmar, operated under Lluvia Limited
• Rocket (Wheat Flour)
• Premier (Coffee)
• ARMO
• Wah-Lah (Instant Noodles)
• G&G Convenience Store
• Capital Hypermarket
• Aventine Limited

Products and services

• Consumer Food Products Manufactured consumer food staples (including wheat flour, noodles, and related grain-based products) sold under group-owned brands to Myanmar households and wholesale customers.
• Hypermarket and Specialty Retail Multi-format retail operation comprising Capital Super hypermarkets and Capital Mobile stores that sell groceries, household goods, and consumer electronics to Myanmar consumers.
• Real Estate Development Property development projects covering residential and commercial real estate offerings to Myanmar buyers and tenants.
• Hospital and Pharmacy Services Hospital care services and pharmacy operations providing medical treatment and pharmaceutical products to patients and walk-in pharmacy customers.
• CB Bank Commercial Banking Commercial banking services including deposit, lending, and transaction banking products for retail, SME, and corporate customers in Myanmar.
• Capital Micro Finance Microfinance lending to individual borrowers and micro/small enterprises that lack access to mainstream commercial bank credit.
• Citizens Pay Digital Payments Digital payment platform that enables electronic payments, fund transfers, and merchant transactions for consumers and businesses.
• Capital Taiyo Life Insurance Life insurance products offered through a joint venture with Taiyo Life Insurance, distributed to Myanmar consumers via agency and bank channels.
• Capital Automotive Vehicle Distribution and Dealerships Authorized distribution and dealership of passenger and commercial vehicles (including Toyota, Suzuki, and Hino brands) through a joint venture with RMA Group, serving retail buyers and fleet/commercial customers.
• Lluvia Limited (Mitsubishi Corporation Joint Venture) Joint venture entity with Mitsubishi Corporation that operates commercial activities and provides access to Mitsubishi's international business network.

Quantifiable outcome

• 50%+ wheat flour market share in Myanmar
• +4 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Taiyo Life InsurancecoreStrategic or Co-development Partner · 1 November 2019Joint venture with Taiyo Life Insurance (100+ year history in Japan) to form Capital Taiyo Life Insurance in November 2019. One of the fastest growing life insurance companies in Myanmar with 12 branches covering 6 regions.
• Mitsubishi CorporationcoreStrategic or Co-development Partner · 19 May 2015Joint venture agreement to form Lluvia Limited for food manufacturing and distribution. CDSG accepted MC investment up to 30% in Lluvia. Lluvia plans to invest over US$200 million in new businesses throughout the food value chain in Myanmar. Jointly leveraging experiences and skills to expand existing Food and FMCG related businesses.
• RMA Group (Thailand)coreStrategic or Co-development Partner · 1 April 2013Joint venture between CDSG and RMA Group for Capital Automotive - sole authorized distributor for Ford, Jaguar, Land Rover vehicles, and John Deere tractors since 2013. Partnership modernizes and brings innovative vehicle solutions to Myanmar's automotive industry.
• KamigumiminorStrategic or Co-development PartnerJoint venture partner for International Bulk Terminal Thilawa (IBTT) - Japanese logistics company established in 1947, head office in Kobe, Hyogo, Japan.
• JOIN (Japan Overseas Infrastructure Investment Corporation)minorStrategic or Co-development PartnerJoint venture partner for IBTT - Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development, established 2014, head office in Tokyo.
• Ford Motor CompanycoreChannel Partner/ Reseller/ DistributorCapital Automotive is sole authorized distributor and dealer for Ford vehicles since 2013. Also assembling Ford Ranger Double Cab and Ford Everest SUV in Myanmar.
• GEELY (吉利汽车集团)coreChannel Partner/ Reseller/ DistributorPremier Automotive awarded exclusive sole distributorship for GEELY car brand in Myanmar since 2020. Also dealer for FAW (中国第一汽车集团有限公司).
• JJ ExpressminorGTM or Marketing PartnerG&G Convenience Store partnership to sell JJ Express bus e-tickets at G&G stores. 230 G&G stores in Yangon sell JJ Expressway bus e-tickets since May 2018.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Shwe Taung Group: Myanmar conglomerate with deep exposure to construction, real estate development, infrastructure and consumer businesses. Closely comparable to CDSG's real estate and consumer retail clusters.
• Htoo Group of Companies: One of Myanmar's largest privately held conglomerates with operations spanning timber, banking (Ayeyarwady Bank), aviation, hotels, retail and trading. Comparable to CDSG as a Myanmar-domestic diversified conglomerate with similar breadth and JV-driven growth.
• AYA Financial Group: Myanmar financial conglomerate built around AYA Bank plus insurance and microfinance. Overlaps CDSG's Myanmar Citizens Bank, Capital Taiyo Life Insurance and Fortune Fund Myanmar microfinance cluster on a smaller geographic footprint.
• KBZ Group: Myanmar conglomerate anchored by Kanbawza Bank (the country's largest private bank), with aviation, beverages, real estate and mining arms. Directly comparable to CDSG's combination of commercial banking plus diversified consumer/industrial businesses in Myanmar.
• Serge Pun & Associates (SPA Group): Myanmar-listed conglomerate with interests in real estate (Myanmar Plaza), banking (Myanmar International Bank), hospitality and industrials. Comparable to CDSG's Capital Development + MCB + multi-vertical structure inside the same Myanmar market.
• Dagon Group of Companies: Diversified Myanmar group with interests in construction, trading, agriculture and consumer goods. Comparable to CDSG's broad Myanmar consumer-and-industrial footprint.

Broad incumbents

• Sime Darby Berhad: Malaysia-listed diversified group with automotive distribution (BMW, Ford), plantation/agri and logistics. Comparable to CDSG's Capital Automotive/Premier Automotive distribution franchise and agricultural value chain under Lluvia.
• CP Group (Charoen Pokphand): Thailand-based regional conglomerate with parallel food/agri, retail (7-Eleven, Makro), telecom and automotive exposure. Comparable as a regional incumbent that has scaled a multi-vertical consumer-and-financial services model across emerging ASEAN.
• San Miguel Corporation: Philippines-listed conglomerate spanning food and beverages, fuel and oil, infrastructure and banking. Comparable to CDSG as a multi-decade, multi-sector conglomerate in an emerging Asian market with category-leading consumer brands.

Regional players

• Royal Group: Cambodia's largest conglomerate, spanning banking, telecommunications, real estate, F&B and automotive distribution. Comparable as a Southeast Asian conglomerate of similar vintage and scope, operating primarily in a single frontier market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookweb.facebook.com/GeelyAutoMyanmar

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capital Diamond Star Group