A new Mon business corporation, known as the “Talamon Company”, has officially formed, aiming to meet key tenets, besides turning a profit, that include a commitment to non-political business and philanthropic community development.

The Talamon Company formed in December 2009 as a corporation to benefit shareholders, specifically businessmen and traders who were able to purchase shares only by invitation. According to a friend of a shareholder, the Talamon Company takes no financial support from cease-fire groups or other political bodies.  

The company specifies that for those who are invited to join, a potential shareholder must buy a minimum of 1 share to participate and possess a portion of the company. The cost for one share is 500,000 kyat and already 400 shares have been sold, said a source who is connected to the new company, but preferred to remain anonymous.

"Talamon Company was formed from the ideas of Mon businessmen who wanted to benefit together as a sort of emporium… A person who buys up more than 10 shares, they will be given a place as a director of the group,” he added. “If a person takes up less than 10 shares, they will be specified as a normal businessman. The company will accept up to 50 people for director positions, [but at a recent] meeting they [share holders] appointed 15 people to be directors to spread business and work for them [the company]."  

On December 20th the Talamon Company hosted an invitation only celebration in Rangoon's Trader Hotel, to officially launch the company’s formation. The event, which was attended by Nai Aung Toe, Nai Chit Phay, who was the master of ceremonies, and 50 shareholders, was held to choose the companies senior leadership. The 50 attending members voted into office 15 directors of the company, based on their qualifications and share ownership. Nai Htun Ong, who was elected Chairman of Talamon Company told IMNA that, "This Company is a first for only Mon businessmen to invest in Burma."

A shareholder who preferred to remain anonymous said that the Talamon Company currently contains several businesses, including an express transportation service of goods and passengers, a company that sells building supplies and a resale machine parts store. He added that Talamon company is working to expand its services to also include the a machine parts import company.  

According to an official letter handed out to share holders, the company, while it doesn’t yet have an office, is opened temporarily at No. 161 Shwe goon Taing streen, Pahan Township, Rangoon.

While Talamon leadership refuses to comment on the total number of company shareholders, the company has already received a total investment of 200 million kyat in share sales.  

While the company is primarily formed to financially benefit its Mon investors, the Talamon Company will, according to a source close to shareholders, provide philanthropic support to members of the Mon community. As profits improve, they will work to fill 'social duties and obligations' and provide financial support for education for Mon people that have face economic hardship.

The director of the Rehmonnya Labor Union (RLU), Nai Kao Tala Rot, met with shareholders of Talamon, and said of Talamon’s policies, “This is a very philanthropic company [Talamon] to be coming out to assist Mon people; but [some of us] are worried because in the past we have seen [other Mon companies] like Hongsawatoi company fell apart because of poor management and administration.”

During the formation of the 1995 ceasefire with the New Mon State Party (NMSP), the largest Mon political group, the party was offered commercial incentives that lead to the formation of Rehmonnya International Company. The company was comprised of NMSP members, businessmen with NMSP connections and members of the Mon National Democratic Front (MNDF). The Hongsawatoi Company was also formed in 1995 under NMSP direction. Ultimately both companies’ economic prospects soured after mismanagement and poor business decisions undercut the companies’ opportunities.  

Nai Kao Tala Rot expressed hope that with the formation of Talamon Company poor Mon families, or those seeking scholarships for school, would benefit.  He explained the new company chairman, Nai Htun Ong, has a strong track record of munificence, making donations to monks during their exams in Moulmein.