The British financial media firm last month named UAB as Myanmar’s ‘Best Bank’ despite its ties to Myanmar’s military regime and to sanction-hit company IGE.
At least 38 Singapore-based companies are brokering the sale of weapons and military equipment to the junta.
Regime troops who want to defect have been warned not to use SIM cards from Mytel, which is part-owned by the Myanmar military.
Also this week, the regime’s diplomatic spat with the UK escalated and Min Aung Hlaing resorted to old clichés about ‘foreign interference’
Indonesia, the Philippines, Vietnam, Cambodia, Singapore and Thailand continue to do business with junta-ruled Myanmar, JFM said.
The beverage giant said sales at Myanmar Brewery, which is currently the target of an anti-regime boycott, plummeted by nearly 50 percent on-year in Q3.