Yachting Federation Superior

The growing criticisms over the acquisition of upcoming SEA Games Sailing events venue Ngwe Saung has been deflected by the Myanmar Yachting Federation Superior U Moe Mint. The Burmese business tycoon is raising strong protest against the residents’ claim that the venue was forcibly acquired from them by military officials in 1977.

As per the reports, Myint has invested around 17 million USD on Ngwe Saung Yacht Club & Marina Development lying along Ngwe Saung Beach (Bu Kway Gyi village). This development is an initiative by the Myint and Associates, one of the major corporations headed by the Yacht Federation President. It would include a premium luxury hotel along with as many as 34 bungalows & 100 rooms plus an edgy yacht club. Myint’s company would be operating the hotel post SEA Games, paying a yearly rent of around 1.5 % of earnings to Myanmar Sports Ministry, with minimum 15K million per year.

While approached about the acquisition of the venue, Myint strongly defended his stand stating that neither the federation nor he were responsible regarding the original acquisition of the land or the compensation received by its original owners. “For any queries on land ownership & the ownership issues, one must address the inquiries to the Sports Ministry. The venue has just been delegated to us by the Sports Ministry”, stated the Burmese business tycoon.

According to the sources, 3 Burmese brothers- U Soe Lwin, U Sein Than & U Kyin Myint- claimed of being the owners of the land till 1977. As per their claims, it was Major Yin Shen. the then Secretary of Dist. Peace & Development Council violently enforced them to sell off the plantation below the usual market price. The 3 brothers received a meager K1200 per tree.

The Sports Ministry too expressed least concern over the 3 brothers’ claim over the Ngwe Saung venue. “It isn’t my concern. It’s finished & the land now belongs to our government”, commented U Thaung Htike, the Deputy Minister of Sports in Myanmar.