Due to challenging business conditions and high deposit interest rates earlier this year, many companies were quick to increase their deposit amounts to earn interest.
Companies increase deposit amounts to maximise interest earnings indonesiatribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indonesiatribune.com Daily Mail and Mail on Sunday newspapers.
The company, which has dozens of subsidiaries, was sanctioned last month by the U.S.
The city of Yangon in the evening. (Source: Alexander Schimmeck, via Unsplash)
By Samuel Rubenfeld and Helen Koo
Wednesday, April 7, 2021
The U.K. last week sanctioned Myanmar Economic Corporation (MEC), a military-linked conglomerate, over its involvement in human rights abuses following the coup.
MEC, which has dozens of subsidiaries involved in manufacturing, mining and telecommunications, was also sanctioned last month by the U.S., and is listed by Canada. Though the firm is owned in practice by the Myanmar defense ministry, it is associated with the Tatmadaw, the armed forces, according to a sanctions notice issued by the U.K. government.