KUALA LUMPUR, Feb 15 Malaysia’s real gross domestic product (GDP) growth for 2021 is now forecast to be just 4.9 per cent versus the 10.0 per cent projected earlier, said Fitch Solutions Country Risk & Industry Research. The Fitch Group unit said it was slashing the projection due to the.
(Feb 10): Myanmar’s political upheaval is prompting global companies from Japan to Thailand to dial back operations in the country, spurring concern about a widening business fallout.
From beer maker Kirin Holdings Co to an early backer of gaming firm Razer Inc, companies and investors are weighing the impact of a military coup that’s thrust the once-thriving nation into a state of emergency. The turmoil is prompting multinationals like Thailand’s biggest industrial developer to delay investment plans, a harbinger of things to come should the chaos deepen.
Western nations are applying pressure on the newly installed military government of the Southeast Asian country, once regarded as greenfield territory for everything from oil and gas to leisure resorts. With the US reiterating plans to renew sanctions, it could cause a rippling effect among businesses, threatening US$5.5 billion in foreign investment in a country that just a few years ago was on the path to democracy.
Myanmar’s political upheaval is prompting global companies from Japan to Thailand to dial back operations in the country, spurring concern about a widening business fallout. From beer maker Kirin Holdings Co. to an early backer of gaming firm Razer Inc., companies and investors are weighing the impact of a military coup that’s thrust the once- thriving nation into a state of emergency. The turmoil is prompting multinationals like Thailand’s biggest industrial developer to delay investment plans, a harbinger of things to come should the chaos deepen. Western nations are applying pressure on the newly installed military government of the Southeast Asian country, once regarded as greenfield territory for everything from oil and gas to leisure resorts. With the U. S. reiterating plans to renew sanctions, it could cause a rippling effect among businesses, threatening $5.5 billion in foreign investment in a country that just a few years ago was on the path to democracy.
Myanmar faces wider business fallout after Kirin retreat
Faris Mokhtar, Philip J. Heijmans and Chanyaporn Chanjaroen, Bloomberg
Feb. 10, 2021
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A demonstrator holds up a National League for Democracy (NLD) flag during a protest outside the Embassy of Myanmar in Bangkok, Thailand, on Feb. 1 2021.Bloomberg photo by Andre Malerba.
Myanmar s political upheaval is prompting global companies from Japan to Thailand to dial back operations in the country, spurring concern about a widening business fallout.
From beer maker Kirin Holdings Co. to an early backer of gaming firm Razer Inc., companies and investors are weighing the impact of a military coup that s thrust the once- thriving nation into a state of emergency. The turmoil is prompting multinationals like Thailand s biggest industrial developer to delay investment plans, a harbinger of things to come should the chaos deepen.
Analysts at Fitch Solutions Country Risk and Industry Research give their views.
From an oil and gas context, the coup is ill-timed for Myanmar, with prospects in the sector starting to turn a corner amid growing foreign investor interest and efforts.
That’s according to oil and gas analysts at Fitch Solutions Country Risk and Industry Research (Fitch Solutions), who made the statement in a report sent to Rigzone on Wednesday. The analysts, who noted that the country’s previous military regime proved unconstructive for oil and gas, said that the situation will likely put most ongoing projects in the upstream sector on hold while firms study the situation for more information and clarity.