Wärtsilä claims to have severed its relationship with Myanmar firm MCM and its ex-director, known arms broker Aung Hlaing Oo, dismissing leaked documents suggesting otherwise as a ‘forgery’
The borrowers say they were unable to keep up with payments due to the impact of the Covid-19 pandemic and 2021 coup on their businesses
The Singapore firm’s subsidiary operates a luxury hotel in Yangon, and its corporate officers have business ties to Myanmar construction conglomerate Shwe Taung Group
Following his release from Myanmar prison, former NLD economic advisor Sean Turnell says policy institutions have ‘locked themselves away,’ becoming ‘hermit caves’ under military
Nearly two years after seizing power, the military has pushed the country’s economy to its limits
The economy is expected to rebound by just 1% after shrinking by almost a fifth last year thanks to COVID-19 and the coup