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March 2, 2021, Myanmar: Justice For Myanmar has added 26 companies to its list of significant business associates of the Myanmar military, including international companies and subsidiaries of major Myanmar crony conglomerates. The update is based on a release of files from the Myanmar Investment Commission by Distributed Denial of Secrets (DDoSecrets), shared with Justice For Myanmar. The release includes entries of the Investments Management System, proposals and permits, many of which are labelled “secret” or “confidential”.
The DDoSecrets release includes the investment permit for Eden Hotels & Resorts Company Limited issued in January 2015 for a hotel on prime real estate at Ngapali beach in Arakan State, built under a build-operate-transfer contract with the office of the quartermaster general of the Myanmar army. It is currently being operated as a Hilton Hotel, under a partnership between Hilton and Eden.
Justice For Myanmar spokesperson Yadanar Maung says: “We are appalled that Hilton is operating a hotel in Arakan state that directly finances the Myanmar army. The hotel is located where the military committed genocide against Rohingya and the hotel pays rent to the same office that buys weapons used in atrocity crimes against the people, in a shocking breach of Hilton’s human rights obligations. We call on Hilton to immediately end their business with the Myanmar military and compensate the people of Myanmar who are victim of the human rights violations associated with Hilton’s bloody and corrupt hotel deal.”
The DDoSecrets release also includes files related to a partnership between crony company KBZ’s Brighter Energy and PTT Oil and Retail (PTTOR) for a LPT terminal on land leased from military conglomerate Myanmar Economic Corporation (MEC) in Thilawa. PTTOR floated on the Thai stock exchange in February 2021 and its biggest shareholders include Merrill Lynch (Singapore) Pte Ltd., Morgan Stanley & Co. International Plc. and Norges Bank Investment Management.
In addition to KBZ’s business with the Myanmar military through Brighter Energy, the conglomerate also leases land for Strand Square, an upmarket real estate development that houses KBZ subsidiaries and major international businesses.
Yadanar Maung continues: “We reiterate our call for international targeted sanctions against all businesses that maintain commercial relationships with the Myanmar military. This information made available by DDoSecrets provides much-needed transparency over the military’s investment deals involving state assets that are stolen by the military to bankroll their brutality against the people of Myanmar and enrich top generals. All businesses connected to the Myanmar military must immediately cut ties. Stand with the people resisting oppression and putting their lives on the line. The military cartel must be dismantled.”
EO Yangon Company Limited was moved from the list of military-owned companies to significant business associates after they informed Justice For Myanmar that military conglomerate Myanma Economic Holdings Limited (MEHL) had divested from their company, which was previously called Myanmar Win-Pacific. EO Yangon continues to operate in Pyinmabin industrial zone, paying rent to MEHL.
Note to editors
See Justice For Myanmar’s updated list of military-owned businesses, directors and significant business associates that require targeted international sanctions here: www.justiceformyanmar.org/stories/myanmar-military-controlled-businesses-associates-that-require-targeted-sanctions
Access the DDoSecrets Myanmar Investments release here: https://ddosecrets.com/wiki/Myanmar_Investments
Justice For Myanmar, a group of covert activists campaigning for justice and accountability for the people of Myanmar, is calling for an end to military business and for federal democracy and a sustainable peace.
ENDS
For more information please contact:
Yadanar Maung
Email: media@justiceformyanmar.org
Website: https://www.justiceformyanmar.org/
Mirror: https://justiceformyanmar.github.io/justiceformyanmar.org/
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