Details 22 April 2021
Activist group Justice for Myanmar has called out Shangri-La Asia for continued business with the Myanmar military through the Sule Square development. It urged consumers to boycott Shangri-La hotels and asked investors to divest. Sule Square is a mall and office development in Yangon by Shangri-La and according to the activist group, it is on land leased from the quartermaster general’s office of the Myanmar army, which is responsible for the purchase of arms.
Justice for Myanmar also alleged in a statement that Shangri-La Asia, founded by Malaysian tycoon Robert Kuok and owned by Kuok Group, has failed to respond to the recommendations of the UN International Fact-Finding Mission to cut ties with the military . Its spokesperson Yadanar Maung also called for tenants of Sule Square, including the World Bank, Coca Cola, the American Chamber of Commerce in Myanmar and Yara to end all leases and cut all ties with the Mya
China s metal imports from Myanmar show trade contortions amid post-coup protest Toggle share menu
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China s metal imports from Myanmar show trade contortions amid post-coup protest
Muse, on the border between China and Myanmar, is an important gateway for trade. (File photo: AFP/Ye Aung THU)
20 Apr 2021 05:17PM (Updated:
20 Apr 2021 05:20PM) Share this content
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YANGON: Chinese trade data gave a mixed snapshot of neighbour Myanmar s ability to keep up metal shipments in March amid unrest after February s coup, with flows of nickel pig iron (NPI) dwindling to almost nothing but those of copper doubling month-on-month.
With Chinese firms directly involved in Myanmar metals mining, imports of stainless steel raw material NPI from the Southeast Asian country were just 298 tonnes last month, data from China s customs showed on Tuesday (Apr 20).
Tuesday, 20 Apr 2021 04:23 PM MYT
File picture shows workers directing a crane lifting newly-made steel bars at a factory of Dongbei Special Steel Group Co Ltd, in Dalian, Liaoning province, China, October 13, 2015. Reuters/China Daily pic
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BEIJING, April 20 Chinese trade data gave a mixed snapshot of neighbour Myanmar’s ability to keep up metal shipments in March amid unrest after February’s coup, with flows of nickel pig iron (NPI) dwindling to almost nothing but those of copper doubling month-on-month.
With Chinese firms directly involved in Myanmar metals mining, imports of stainless steel raw material NPI from the Southeast Asian country were just 298 tonnes last month, data from China’s customs showed on Tuesday. That was a 90 per cent slump from February and down 94 per cent year-on-year, marking the lowest monthly total since April 2019.
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By Tjibbe Hoekstra2021-04-16T15:09:00+01:00
Korean steel producer Posco C&C has terminated its joint venture with Myanmar Economic Holdings, a company controlled by Myanmar’s military – a step taken after APG’s engagement with Seoul-listed Posco on the matter.
“We are happy and proud of this engagement success,” APG – the asset manager for the Dutch pension fund for government and education ABP – said in a statement. Posco will, however, continue to produce steel in Myanmar.
“We are pleased to see that Posco’s top management and board finally addressed investors’ concerns pertaining to its joint venture with military-linked businesses,” said Yoo-Kyung Park, sustainability specialist at the Dutch pension asset manager, who conducted the engagement with the firm.