In addition, the firm has cancelled a sale of such products to Yangon International Airport.
It will also not sell to Myanmar s military, Ong said.
Myanmar activists previously called the company out on social media for supplying the military with anti-drone guns.
A tweet posted by advocacy group Justice for Myanmar, however, was taken down on Feb. 22.
Sold anti-drone products to Myanmar s police
Prior to the coup on Feb. 1, TRD Singapore had sold anti-drone products to Myanmar s police force.
According to
VICE News, the products included devices such as a drone gun which disrupted signals and forced them to land.
The Myanmar military’s political power is tied in part to its web of private enterprises across the energy, mining, banking, telecom and other industries. These military-owned companies have hindered development and are the clearest target for foreign governments and companies as they move to support Myanmar’s growing resistance.
SBI Investing 30 Million in Digital Assets Bank Sygnum
Feb 17 2021 · 11:51 UTC | Updated
Feb 17 2021 · 12:51 by staff writer · 2 min read
Photo: Shutterstock
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SBI is investing a whopping $30 million in the Swiss and Singapore based crypto bank Sygnum.
SBI is set to undertake a key role in developing strategic fundraising for the digital assets bank Sygnum. Built on Swiss and Singapore heritage, Sygnum is rated trustworthy among its customers due to the company’s ability to provide a trusted avenue for clients to invest in the digital asset economy. Sygnum recently declared that the company has been able to acquire a whopping “eight-figure” United States dollar investment from SBI Digital Asset Holding a minor of the Japanese-owned financial service organization SBI Holdings, Inc.
(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.