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Trouble in Yangon: Tracking the business impact of the military coup

Ng Ren Jye

Published Fri, Feb 26, 2021 · 09:00 AM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

Ever since Myanmar's army seized power in a Feb 1 coup, many countries and organisations around the world have pushed for a resolution to the crisis and condemned the military's violence.

Myanmar's Asean neighbours Indonesia and Thailand had sought urgent meetings with Myanmar this week while organisations including the United Nations and G-7 have condemned the violence used against anti-coup protesters. Five people have been killed so far.

The Business Times has been tracking recent developments in the troubled country and the impact on Singapore and foreign businesses. These are some of our reports:

Singapore firms hang on as Myanmar unrest escalates

Singapore companies are doing their best to continue operating as usual, even as anti-coup protests escalated into a general strike.

Myanmar military's business interests extend far and wide

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The military wields enormous influence thanks to its numerous business interests.

Myanmar unrest a risk to capital flow from Singapore to young startups there

The coup has fanned fears that the country's nascent startup ecosystem could see its recent progress undone.

Myanmar now a much riskier destination for foreign firms after military coup

The country has become a much-riskier destination following the coup, with some multinationals pulling out or suspending their operations there.

Sembcorp to stay invested in Myanmar despite rising political tensions

Despite the ongoing crisis, Sembcorp Industries will continue to be invested in Myanmar as it regards its power business there as a "very important infrastructure asset".

Grab suspends commissions in Myanmar, rolls out perk for bikers

Singapore-based tech firm Grab suspended collecting commissions from its drivers and restaurant partners in Myanmar on Feb 16, and will hold off on doing so until the end of this month.

Myanmar coup may see investors exit; currency may weaken: analysts

Political unrest in Myanmar could spell trouble for Singapore-listed companies with a presence there, as the country's business environment takes a turn for the worse.

Myanmar people's wishes must be respected: Indonesian foreign minister

Indonesian Foreign Minister Retno Marsudi said on Tuesday that Myanmar's transition to democracy after this month's coup should follow the wishes of its people.

Emerging Towns & Cities suspends trading; to conduct review of Myanmar contract

Emerging Towns & Cities Singapore has voluntarily converted its trading halt into a trading suspension, and will engage an independent professional to review some of its dealings in Myanmar.

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