Chit Khine is one of Burma's richest business tycoons with an estimated net worth of US$3.2 billion, which includes his assets in Myanmar. He is also considered to be among the Burma's elite. He is the president of Eden Group, one of Myanmar's largest and most successful conglomerates. He also serves as a director and largest shareholder of Asia General Electric, founded in 2008 to manufacture transformers and electrical switches. Alongside his success, Chit Khine has done many various types of charity work and also donated several millions into the community of Myanmar. He is known for his close relationship with the former ruling junta, the State Peace and Development Council. He is believed to have funded the wedding of Thandar Shwe, Than Shwe's daughter. Eden Group was one of the only 8 indigenous companies to construct Naypyidaw, the country's new capital. In exchange, the Burmese government granted Eden Group several highly coveted licenses to import high-end automobiles into the country and it can also be seen that Chit Khine has also amassed great wealth from his role in the construction of Naypyidaw. Chit Khine is also known for his close links to the government, having undertaken a huge range of construction projects in Nay Pyi Taw for the previous military regime. These include the President’s Palace, the Defence Services Museum, which honours the Myanmar armed forces, or Tatmadaw and many more. Chit Khine is subject to American economic sanctions. He was previously subject to EU sanctions but this has since been removed. In the early 1980s, he entered the restaurant business by opening Eden restaurant in Rangoon. He established a construction company, Eden Group, in the mid-1990s. A few years after Eden Group was founded, Chit Khine started to open five-star hotels and resorts all over Myanmar. Chit Khine owns Delta United FC, a football club in Ayewarwady Region. In 2010, Chit Khine, along with other government proxies, received preferential private banking licenses from the Central Bank of Myanmar. In 2011, he established Myanma Apex Bank, one of the country's few private banks with $411,387,430 worth of total assets as of 2013 as quoted by the GIZ report. Chit Khine serves as the head of the Myanmar Rowing and Canoeing Federation, the Myanmar Agribusiness Public Corporation and the Myanmar Rice Industry Association.
Business portfolio
Chit Khine's business portfolio includes a restaurants, a construction company, tourist resorts, coal mines, a private bank, a petroleum company, agriculture, electronics manufacturing company, trading and a few other businesses based in Singapore and Thailand,. Eden Group signed a joint-venture contract with Virginia-based Hilton Hotels & Resorts in June 2014. 5 of his resorts will be operated under the management Hilton. Chit Khine's has invested $50 million in his newest hotel, Hilton Garden Resort Hotel which recently opened in Naypyidaw.
