Max Myanmar Group

What Max Myanmar Group does

Max Myanmar Group is a privately held Myanmar conglomerate founded in 1993 and headquartered in Yangon, operating through a 2017-established holding company (Max Myanmar Holding Co., Ltd.) and 8+ operating subsidiaries across energy, construction, manufacturing, hospitality, trading, transportation, and agriculture. Its business mix spans Max Energy (over 40 fuel filling stations and the Thilawa Oil Depot Terminal at 38,765 MT storage capacity in the Thilawa Economic Zone), Max Myanmar Construction (civil projects including dams, ports, high-rises, BOT highways, and SEA Games sports centres), Max Myanmar Manufacturing (Max Cement produced at a 2,100 TPD dry-process plant in Taung Philar, Mandalay Division), Max Myanmar Hotels Group (Hotel Max in Nay Pyi Taw plus Novotel Yangon Max and MGallery by Sofitel under ACCOR management agreements since 2002), Max Well Trading (authorized distributor of Hokuetsu Industries' Airman Generators with AVA Bank hire-purchase financing), Max Highway (BOT toll roads on Yangon-Bago and Yangon-Pyay-Magway), Shwe Yaung Pya Agro (rubber plantation of approximately 5,000 acres in Belin), and Max Logistics (freight, warehousing, supply chain).

The group serves primarily Myanmar government ministries and public-sector clients on infrastructure projects, alongside commercial and industrial enterprises (fuel distribution, cement, equipment), SME customers (generators on hire-purchase), and individual consumers via retail fuel and hotel stays. Revenue mechanics are transactional across nearly every business line — fuel sales at the pump, cement sales to contractors and government projects, hotel accommodation/F&B revenue, generator distribution margins, toll fees collected under BOT concessions, and logistics service fees. The group also operates a CSR vehicle, the Ayeyarwady Foundation (established 2010), focused on youth development/sports, health, education, and disaster response.

Max Myanmar Group is privately controlled by founder U Zaw Zaw, employs 4,591+ people across all subsidiaries, and reported $341.7M annual revenue for FY2018-19 on its corporate website. It holds multiple ISO 9001 certifications, has been a United Nations Global Compact participant since 2012, and has been consistently ranked among Myanmar's top transparent companies in the MCRB Pwint Thit Sa reports (ranked 2nd in 2015 and 3rd in 2019). Geographic footprint is exclusively domestic Myanmar plus a Singapore regional investment vehicle (Max Singapore Holdings Pte., Ltd., established 2012).

Name

Max Myanmar Group

Legal name

Max Myanmar Holding Co., Ltd.

Website

https://maxmyanmargroup.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Max Myanmar Group is a privately held Yangon-based conglomerate founded in 1993, operating 8+ subsidiaries across fuel distribution, cement manufacturing, construction, hospitality, trading, rubber plantations, and logistics for Myanmar government, commercial, and consumer customers.

Ownership category

akta.pro rank

Product category

Diversified Conglomerate Services

NAICS

Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers (42381), General Warehousing and Storage (49311), Lumber and Other Construction Materials Merchant Wholesalers (4233), Other Warehousing and Storage (493190)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), General Bldg Contractors - Nonresidential Bldgs (1540), Public Warehousing & Storage (4220), Wholesale-Construction & Mining (No Petro) Machinery & Equip (5082)

akta.pro primary industry

Chemical Tank Farms & Bulk Liquid Chemical Storage (TLALAHAH)

akta.pro secondary industries

Bulk Terminal Services & Operations (Stevedoring, Sampling, Weighing, Blending) (TLAHABAO), Hazardous Materials & Regulated Goods Storage (Non-Refrigerated) (TLALAAAG)

Keywords

• Fuel distribution services
• Civil construction services
• Cement manufacturing
• Hospitality services
• Highway toll operations

Headquarters

HQ city

Yangon

HQ country

Myanmar (Burma)

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Fuel and Petroleum Products Distribution: Max Energy distributes diesel and petroleum products through over 40 filling stations nationwide, with storage and logistics capabilities through the Thilawa Oil Depot Terminal. Revenue from fuel sales at retail stations.
2. Civil Construction and Engineering: Max Myanmar Construction generates revenue from construction projects including port extensions, dams, reservoirs, high-rise buildings, infrastructure, factories, hotels, and residential developments. Projects include SEA Games sports centers, BOT roads, and Thilawa Oil Depot Terminal.
3. Hotel and Tourism: Max Myanmar Hotels operates Hotel Max (Nay Pyi Taw) under its own management and Novotel Yangon Max and MGallery by Sofitel under ACCOR management agreements. Revenue from accommodation, food and beverage, conferences, and events.
4. Cement Manufacturing: Max Myanmar Manufacturing produces and distributes Max Cement commercially available in Yangon, Mandalay, and Nay Pyi Taw. Revenue from cement sales to government infrastructure projects and private construction.
5. Trading and Distribution: Max Well Trading provides import and export services for heavy equipment, generators, construction materials, and machinery. Also acts as authorized distributor of Hokuetsu Industries' Airman Generators. Revenue from equipment sales and distribution margins.
6. Highway Toll Operations: Max Highway builds and operates roads under BOT system and collects toll gate fees from the Ministry of Construction. Revenue from toll collection on managed road networks including Yangon-Bago and Yangon-Pyay-Magway.
7. Rubber Plantation and Agriculture: Shwe Yaung Pya Agro operates rubber plantations on approximately 5,000 acres (two-thirds cultivated) in Belin, Myanmar, with over 600 employees. Revenue from rubber production and related downstream business.
8. Logistics and Transportation: Max Logistics provides freight transportation, warehousing, distribution, and supply chain management solutions. Revenue from logistics service fees.

Go-to-market motion5 records

Distribution channels7 records

Marketing channels5 records

Core offering

Max Myanmar Group is a diversified conglomerate operating eight core businesses including Max Energy (fuel distribution across 40+ filling stations and the Thilawa Oil Depot Terminal), Max Myanmar Construction (civil and infrastructure projects), Max Cement manufacturing (2,100 TPD dry-process plant), Max Myanmar Hotels Group (Hotel Max, Novotel Yangon Max, MGallery by Sofitel), Max Highway (BOT toll road operations), Max Well Trading (heavy equipment and Airman generator distribution), Max Logistics (freight, warehousing and supply chain services), and Shwe Yaung Pya Agro (rubber plantation across 5,000 acres).

Product overview

Max Myanmar Group is a diversified conglomerate operating across multiple business segments including energy (Max Energy with petroleum distribution and Thilawa Oil Depot Terminal), hospitality (Max Hotels Group managing Hotel Max, Novotel Yangon Max, and MGallery by Sofitel), manufacturing (Max Cement cement production), construction (Max Myanmar Construction), trading (Max Well Trading with generator distribution), transportation (Max Highway road operations under BOT system), agriculture (Shwe Yaung Pya Agro rubber plantations), and logistics (Max Logistics freight and supply chain services). The group also includes support entities like Max Myanmar Holding, Max Service, and Max Singapore Holdings, along with the Ayeyarwady Foundation for CSR activities. The portfolio spans from 1993 and includes over 40 Max Energy filling stations, cement manufacturing with 2100 TPD capacity, multiple hotel properties, and road infrastructure management.

Differentiator

Problem solved

Functional benefit

Brands

• Hotel Max: Hotel operated by Max Hotels Group in Nay Pyi Taw, capital city of Myanmar
• Novotel Yangon Max
• MGallery by Sofitel
• Max Energy
• Max Cement

Products and services

• Max Energy Fuel Distribution Retail and wholesale distribution of petroleum products (92 RON, 95 RON, Premium Diesel, High Speed Diesel) through 40+ filling stations nationwide and the Thilawa Oil Depot Terminal serving individual motorists and commercial fleets.
• Max Cement Commercial cement products manufactured at the 262.5-acre Taung Philar plant, distributed in Yangon, Mandalay and Nay Pyi Taw for government infrastructure projects and private construction.
• Max Myanmar Construction Services Large-scale civil construction and engineering services for government ministries and commercial clients including port extensions, dams, reservoirs, high-rise buildings, infrastructure, factories, hotels and residential developments.
• Max Myanmar Hotels Group Hotel accommodation, dining, conferences and events at Hotel Max (Nay Pyi Taw, 90 rooms), Novotel Yangon Max and MGallery by Sofitel (Nay Pyi Taw), the latter two managed under ACCOR agreements; targets business and leisure travellers.
• Max Highway Toll Operations Build-Operate-Transfer highway construction, maintenance and toll collection on the Yangon-Bago and Yangon-Pyay-Magway road networks under Ministry of Construction authorization.
• Max Well Trading Equipment Distribution Import, export and distribution of heavy equipment (excavators, bulldozers, road rollers), construction materials and authorized distribution of Hokuetsu Industries' Airman mid-range generators, with hire purchase financing via AVA Bank partnership for SME customers.
• Max Logistics Services Freight transportation, warehousing, distribution and supply chain management services across Myanmar.
• Shwe Yaung Pya Agro Rubber Plantation Rubber cultivation and production across approximately 5,000 acres (two-thirds cultivated) in Belin, Myanmar, employing over 600 staff, with the remaining land reserved for community use.
• Thilawa Oil Depot Terminal Oil storage terminal located on 24.71 acres in Thilawa Economic Zone with current 38,765 MT storage capacity handling 92 RON, 95 RON, Premium Diesel and High Speed Diesel, plus a planned 47,820 MT expansion; features 18 loading arms at 40m3/H with API 650 tanks.

Quantifiable outcome

• Over 40 filling stations operated across Myanmar serving the growing inland transportation sector
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Myanmar Highway Freight Transportation Services Association (MHFTSA)coreStrategic or Co-development Partner · 12 May 2026Max Energy Co., Ltd. signed a MoU with MHFTSA for cooperation in highway freight transportation services. This partnership strengthens Max Energy's positioning in the commercial and industrial fuel segment, aligning with Myanmar's transportation and logistics development.
• Hokuetsu Industries (Airman Generators)coreChannel Partner/ Reseller/ Distributor · 1 January 2014Max Well Trading became the authorized distributor of Hokuetsu Industries' Airman Generators in 2014. With an experienced technical team, Max Well Trading has become one of the key distributors in the high-end generator market in Myanmar.
• United Nations Global Compact (UNGC)coreStrategic or Co-development Partner · 1 January 2012Max Myanmar Group business units participate in the United Nations Global Compact since 2012 and actively contribute in UNGC's Myanmar network. The group commits to UNGC principles on human rights, labor, environment, and anti-corruption.
• ACCOR (International Hotel Group)coreChannel Partner/ Reseller/ Distributor · 1 January 2002ACCOR manages Novotel Yangon Max (five-star hotel) and MGallery by Sofitel (Nay Pyi Taw, five-star luxury hotel) under international hotel management agreements. ACCOR provides global brand standards, distribution systems, loyalty programs (ALL), and operational expertise while Max Myanmar provides the real estate and investment.
• Myanmar Centre for Responsible Business (MCRB)minorStrategic or Co-development PartnerMax Myanmar Group participates in MCRB's Pwint Thit Sa (Transparency in Myanmar Enterprises) reporting initiative, which assesses corporate transparency across anti-corruption, human rights, and environmental dimensions. The group has been ranked among top transparent companies.
• Deloitte-MVGminorOthersMax Myanmar Group works with Deloitte-MVG (an affiliate of Deloitte & Touche Financial Advisory Services Pte Ltd) to conduct financial performance review in accordance with international financial reporting standards (IFRS).
• PwC MyanmarminorOthersMax Myanmar Group engages with PwC Myanmar for advisory services in non-auditable context, supporting corporate governance and reporting improvements.
• BCGE (Business Coalition for Gender Equality)minorStrategic or Co-development PartnerMax Myanmar Group is a leader member of BCGE, working to integrate gender equality initiatives throughout the organization. The group has obtained EDGE certification for workplace gender equality.
• Myanmar Football Federation (MFF)coreStrategic or Co-development PartnerAyeyarwady Foundation works through Myanmar Football Federation (MFF) with the Ministry of Education and Ministry of Health & Sports to organize basic football training in Basic Education Schools, Youth Football Competitions and Grass Roots Programmes. Chairman U Zaw Zaw serves as Chairman of MFF.
• AYA Financial GroupminorStrategic or Co-development PartnerAYA Financial Group partnered with Max Myanmar Group on the AYA Forestation Campaign, a joint environmental initiative to raise awareness about forest preservation and plant trees across Myanmar.
• AIA MyanmarminorStrategic or Co-development PartnerAIA and AYA Financial Group, Max Myanmar Group partnered on a landmark initiative aimed at positively impacting lives of Myanmar people through joint health and community development programmes.
• International Red CrossminorOthersAyeyarwady Foundation works with the International Red Cross and local hospitals and dispensaries to provide healthcare services and medical assistance to the underprivileged.

Scale indicators7 records

Recent moves16 records

Expansion highlights6 records

Broad incumbents

• Sime Darby Berhad: Malaysia-listed diversified multinational spanning plantation, industrial equipment, logistics, and motors. Comparable as a broad incumbent with parallel plantation (rubber/oil palm) and heavy-equipment distribution operations, though at much larger scale and globally diversified.
• Sunway Group: Malaysian diversified conglomerate with construction, hospitality, healthcare, real estate, and trading arms. Broadly comparable portfolio mix (especially construction + hotels + trading), though operating primarily in Malaysia and at larger scale.
• Puma Energy: Global downstream fuel and lubricants company with bulk storage and retail filling-station operations across emerging markets. Directly comparable to Max Energy's petroleum distribution and Thilawa terminal operations, though at vastly larger global scale.

Direct peers

• Yoma Strategic Holdings: Myanmar-focused conglomerate with real estate, automotive (Dulwich/Suzuki), energy, hospitality, and fintech operations. Comparable diversified business mix and similar reliance on Myanmar's consumer and infrastructure growth, with overlapping hospitality and energy segments.
• Serge Pun & Associates (SPA Group): Myanmar diversified group with construction, real estate, banking (Myanmar Citizens Bank), healthcare, and trading. Comparable diversification across construction, hospitality, and financial-adjacent services to Max Myanmar Group.
• First Myanmar Investment Co. (FMI): Myanmar diversified group spanning real estate, hospitality, trading, financial services, and agriculture. Closely comparable portfolio breadth and Myanmar-only operating footprint to Max Myanmar Group.
• AYA Financial Group: Myanmar conglomerate active in financial services, healthcare, and tourism, and a documented partner of Max Myanmar Group on CSR initiatives (AYA Forestation Campaign). Operates in overlapping Myanmar markets with comparable diversified footprint.
• Capital Development Myanmar: Myanmar-focused group with construction, real estate, and infrastructure interests. Comparable to Max Myanmar's construction SBU in addressing Myanmar's large-scale civil and building project pipeline.
• KBZ Group (Kanbawza Group): Myanmar's largest privately held diversified conglomerate with banking (KBZ Bank), airlines, gems, telecommunications, and energy exposure. Highly comparable to Max Myanmar Group in scale, Myanmar-only geographic focus, multi-sector diversification, and government-relationship-driven revenue model.

Others

• ACCOR: Global hotel operator that manages Max Myanmar's Novotel Yangon Max and MGallery by Sofitel under partnership. Adjacent rather than directly competitive; included because it shapes Max Hotels' brand standards, distribution reach, and the guest experience across the hospitality SBU.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/maxmyanmar
• Facebookfacebook.com/MaxMyanmarGroupofCompanies
• LinkedInlinkedin.com/company/maxmyanmarholdingco.ltd.

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries12 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 Max Myanmar Group