With whom not to deal in Myanmar
Despite its economic opening, Myanmar remains on the radar of US authorities which, even though broad restrictions on investment and trade with Myanmar have been suspended, still forbids imports of ruby and jade from Myanmar and doing business with military-owned companies.
But the restriction with the greatest impact for investors is against dealings with individuals and companies on the US Treasury Department’s Specially Designated Nationals list, which identifies those linked to sanctioned governments, terrorists and drug traffickers.
The latest additions regarding Myanmar were front companies in- and outside the country owned or controlled by the two Myanmar tycoons Myanmar Steven Law and Tay Za, wealthy businessmen with close ties to the former military regime.
The newly sanctioned companies are:
ASIA PIONEER IMPEX PTE. LTD., Singapore
TERRESTRIAL PTE. LTD., Singapore
ASIA GREEN DEVELOPMENT BANK, Yangon
GOLD ENERGY CO. LTD., Yangon, Shan State
GOLD OCEAN PTE LTD., Singapore
GREAT SUCCESS PTE. LTD., Singapore
GREEN LUCK TRADING COMPANY, Yangon
GOLDEN AARON PTE. LTD. a.k.a. CHINA FOCUS DEVELOPMENT, Singapore
The existing list comprises the following companies and individuals:
AIR BAGAN Singapore, Yangon, Bangkok
AKIRAPHOKIN, Thit, Thai national
APHICHART, Cheewinprapasi Thai national
ASIA LIGHT CO., Yangon
ASIA WORLD CO., Yangon
ASIA WORLD INDUSTRIES, Yangon
ASIA WORLD PORT MANAGEMENT, Yangon
AUNG, U Win, Myanmar national
AUREUM PALACE HOTEL AND RESORT GROUP, Yangon, Bagan, Rakhine, Ngwe Saung
AYEYA SHWE WAR COMPANY, Yangon
AYEYARWADDY BANK, Yangon
BOONTHAWEE, Sae Jang, Thai national
CO-OPERATIVE EXPORT-IMPORT ENTERPRISE, Yangon
CHA, Ta Fa, Thai national
CHANG, Chin Sung, Thai national
CHATURONG, Taiyai, Thai national
CHUNG, Lo Ping, Myanmar national
DAGON INTERNATIONAL CONSTRUCTION COMPANY, Yangon
DAGON TIMBER, Yangon
DIRECTORATE OF DEFENCE INDUSTRIES, Yangon
ESPACE AVENIR EXECUTIVE SERVICED APARTMENT, Yangon
GOLD ENERGY CO., Yangon
GOLD MOUNT INDUSTRIAL COMPANY LIMITED, Yangon
HONG PANG ELECTRONIC INDUSTRIES, Yangon
GREEN LUCK TRADING COMPANY, Yangon
HAI HSING, Sae Wei, Thai national
HATSADIN, Phonsakunphaisan, Thai national
HAW, Aik, Myanmar national
GEMS & JEWELLERY COMPANY LIMITED, Mandalay
HONG PANG LIVESTOCK DEVELOPMENT COMPANY, Yangon
HONG PANG TEXTILE COMPANY LIMITED, Yangon
TET KHAM PTE. LTD., Singapore
TET KHAM CONSTRUCTION COMPANY LIMITED, Mandalay
HEIN, Aung, Myanmar national
HKIM, Aik Hsam, Thai national
YANGON AIRWAYS COMPANY LIMITED, Yangon
HONG PANG GEMS & JEWELLERY CO., LTD., Hong Kong
HONG PANG GENERAL TRADING COMPANY, Yangon
HONG PANG IMPORT EXPORT GENERAL TRADING COMPANY, Yangon
HONG PANG MINING COMPANY LIMITED, Yangon
HOTEL CHAUNG THA BEACH RESORT, Yangon
HOTEL MAX/HOTEL CHAUNG THA BEACH RESORT, Yangon
HSING, Su, Yangon
HTOO FURNITURE, Yangon, Burma
HTOO GROUP OF COMPANIES, Yangon
HTOO TRADING COMPANY LIMITED, Yangon
HTOO WOOD PRODUCTS, Yangon
HTUN MYINT NAING, Myanmar national
INNWA BANK, Yangon
IRRAWADDY BANK, Yangon
KHINE, Oo Oo, Myanmar national
KLUAI YUAI, Thai national
KRIANGKRAI, Tuangwitthayakun, Thai national
KUAI NUENG, Myanmar national
KYA, La Bo, Myanmar national
LAO, Ssu, Thai national
LAW, Hsit-han , Myanmar national
LAW, Stephen, Myanmar national
LI, Cheng Yu, Thai national
LI, Kai Shou, Myanmar national
LIN, Aung Thein, Brigadier General, Mayor and Chairman of Yangon City City Development Committee
LO, Hsin Han, Myanmar national
LO, Ping Han, Myanmar national
LO, Ping Zhong, Myanmar national
LO, Steven, Myanmar national
LU, Chin Shun, Thia national
LWIN, Saw, Major General, Minister of Industry 2
MAX MYANMAR CONSTRUCTION CO., Yangon
MAX MYANMAR GROUP, Yangon
MAX MYANMAR CO., Yangon
MAX MYANMAR GEMS AND JEWELLERY CO., Yangon
MAX MYANMAR MANUFACTURING CO., Yangon
MAX MYANMAR SERVICES CO., Yangon
MAX MYANMAR TRADING CO., Yangon
MYANMAR ECONOMIC CORPORATION, Yangon
MYANMAR GEM ENTERPRISE, Yangon
MYANMAR INVESTMENT AND COMMERCIAL BANK, Yangon
MYANMAR IVANHOE COPPER CO., Yangon
MIN, Zaw, Colonel, Minister of Electric Power 1
MYANMAR PEARL ENTERPRISE, Yangon
MYANMAR TIMBER ENTERPRISE, Yangon
MYANMAR ECONOMIC BANK, Yangon
MYANMAR FOREIGN TRADE BANK, Yangon
MYANMAR ECONOMIC CORPORATION, Yangon
UNION OF MYANMAR ECONOMIC HOLDINGS LIMITED, Yangon
MYANMAR IMPERIAL JADE CO., Yangon
MYANMAR RUBY ENTERPRISE, Yangon
MYANMAR TREASURE BEACH RESORT, Bagan, Yangon
MYAWADDY BANK, Yangon
MYAWADDY TRADING CO., Yangon
MYINT, Htay, Chairman, Yuzana Company Limited
MYINT, Kyaw, Minister of Health
MYINT, Li, Myanmar national
NO. 1 MINING ENTERPRISE, Yangon
NO. 2 MINING ENTERPRISE, Yangon
NO. 3 MINING ENTERPRISE, Yangon
NYEIN, Chan, Minister of Education
PAO, Hua Chiang, Myanmar national
PAO, Yu Hsiang, Myanmar national
PHAIROJ, Samoechainuek, Thai national
PHAIROT, Mopokoo, Thai national
PHITAK, Samoechainuek, Thai national
ROYAL KUMUDRA HOTEL, Yangon
RUNGRIT, Thianphichet, Thai national
SAO KUAY, Sae Tung Thai national
SHIH, Kuo Neng, Myanmar national
SHWE, Khin, President, Zay Gabar Company
SOONTHRON, Cheewinprapasri, Thai national
SUTHIT, Samsaeng, Thai national
TAY ZA, Managing Director, Htoo Trading Company Limited; Chairman, Air Bagan Holdings; Managing Director, Pavo Trading Pte. Ltd.
TE, Ho Chun, Myanmar national
TET KHAM CONSTRUCTION COMPANY LIMITED, Mandanay, Yangon
TET KHAM GEMS CO., Yangon
THAUNG, U, Minister of Labour; Minister of Science & Technology
THEIN, Tin Naing, Brigadier General, Minister of Commerce
TET KHAM CONSTRUCTION COMPANY, Mandalay
THIT, Akiraphokin, Thai national
TIEN, Ho Chun, Myanmar national
TUAN, Ming Cheng, Thai national
TUAN, Shao Kuei, Thai national
TUN, Hla, Major General, Minister of Finance and Revenue
TUN, Saw, Minister of Construction
WANG, Ssu, Thai national
WANG, Wen Chou, Thai national
WEI, Hsueh Lung, Myanmar national
WEI, Hsueh Ying, Myanmar national
WEI, Hsueh Yun, Thai national
WEI, Ta Han, Thai national
WIN, Aung, Myanmar national
WITTHAYA, Ngamthiralert, Thai national
YANGON AIRWAYS, Yangon
YUN, Cheng, Myanmar national
YUZANA COMPANY LIMITED, Yangon
YUZANA CONSTRUCTION, Yangon
ZAW, Daw Thidar, Myanmar national
ZAW, Thein, Brigadier General, Minister of Telecommunications
ZAW, Thida, Myanmar national
ZAW, Zaw, Managing Director Max Myanmar Group of Companies, Yangon
ZAY GABAR COMPANY, Yangon
Despite its economic opening, Myanmar remains on the radar of US authorities which, even though broad restrictions on investment and trade with Myanmar have been suspended, still forbids imports of ruby and jade from Myanmar and doing business with military-owned companies. But the restriction with the greatest impact for investors is against dealings with individuals and companies on the US Treasury Department's Specially Designated Nationals list, which identifies those linked to sanctioned governments, terrorists and drug traffickers. The latest additions regarding Myanmar were front companies in- and outside the country owned or controlled by the two Myanmar tycoons Myanmar Steven...
Despite its economic opening, Myanmar remains on the radar of US authorities which, even though broad restrictions on investment and trade with Myanmar have been suspended, still forbids imports of ruby and jade from Myanmar and doing business with military-owned companies.
But the restriction with the greatest impact for investors is against dealings with individuals and companies on the US Treasury Department’s Specially Designated Nationals list, which identifies those linked to sanctioned governments, terrorists and drug traffickers.
The latest additions regarding Myanmar were front companies in- and outside the country owned or controlled by the two Myanmar tycoons Myanmar Steven Law and Tay Za, wealthy businessmen with close ties to the former military regime.
The newly sanctioned companies are:
ASIA PIONEER IMPEX PTE. LTD., Singapore
TERRESTRIAL PTE. LTD., Singapore
ASIA GREEN DEVELOPMENT BANK, Yangon
GOLD ENERGY CO. LTD., Yangon, Shan State
GOLD OCEAN PTE LTD., Singapore
GREAT SUCCESS PTE. LTD., Singapore
GREEN LUCK TRADING COMPANY, Yangon
GOLDEN AARON PTE. LTD. a.k.a. CHINA FOCUS DEVELOPMENT, Singapore
The existing list comprises the following companies and individuals:
AIR BAGAN Singapore, Yangon, Bangkok
AKIRAPHOKIN, Thit, Thai national
APHICHART, Cheewinprapasi Thai national
ASIA LIGHT CO., Yangon
ASIA WORLD CO., Yangon
ASIA WORLD INDUSTRIES, Yangon
ASIA WORLD PORT MANAGEMENT, Yangon
AUNG, U Win, Myanmar national
AUREUM PALACE HOTEL AND RESORT GROUP, Yangon, Bagan, Rakhine, Ngwe Saung
AYEYA SHWE WAR COMPANY, Yangon
AYEYARWADDY BANK, Yangon
BOONTHAWEE, Sae Jang, Thai national
CO-OPERATIVE EXPORT-IMPORT ENTERPRISE, Yangon
CHA, Ta Fa, Thai national
CHANG, Chin Sung, Thai national
CHATURONG, Taiyai, Thai national
CHUNG, Lo Ping, Myanmar national
DAGON INTERNATIONAL CONSTRUCTION COMPANY, Yangon
DAGON TIMBER, Yangon
DIRECTORATE OF DEFENCE INDUSTRIES, Yangon
ESPACE AVENIR EXECUTIVE SERVICED APARTMENT, Yangon
GOLD ENERGY CO., Yangon
GOLD MOUNT INDUSTRIAL COMPANY LIMITED, Yangon
HONG PANG ELECTRONIC INDUSTRIES, Yangon
GREEN LUCK TRADING COMPANY, Yangon
HAI HSING, Sae Wei, Thai national
HATSADIN, Phonsakunphaisan, Thai national
HAW, Aik, Myanmar national
GEMS & JEWELLERY COMPANY LIMITED, Mandalay
HONG PANG LIVESTOCK DEVELOPMENT COMPANY, Yangon
HONG PANG TEXTILE COMPANY LIMITED, Yangon
TET KHAM PTE. LTD., Singapore
TET KHAM CONSTRUCTION COMPANY LIMITED, Mandalay
HEIN, Aung, Myanmar national
HKIM, Aik Hsam, Thai national
YANGON AIRWAYS COMPANY LIMITED, Yangon
HONG PANG GEMS & JEWELLERY CO., LTD., Hong Kong
HONG PANG GENERAL TRADING COMPANY, Yangon
HONG PANG IMPORT EXPORT GENERAL TRADING COMPANY, Yangon
HONG PANG MINING COMPANY LIMITED, Yangon
HOTEL CHAUNG THA BEACH RESORT, Yangon
HOTEL MAX/HOTEL CHAUNG THA BEACH RESORT, Yangon
HSING, Su, Yangon
HTOO FURNITURE, Yangon, Burma
HTOO GROUP OF COMPANIES, Yangon
HTOO TRADING COMPANY LIMITED, Yangon
HTOO WOOD PRODUCTS, Yangon
HTUN MYINT NAING, Myanmar national
INNWA BANK, Yangon
IRRAWADDY BANK, Yangon
KHINE, Oo Oo, Myanmar national
KLUAI YUAI, Thai national
KRIANGKRAI, Tuangwitthayakun, Thai national
KUAI NUENG, Myanmar national
KYA, La Bo, Myanmar national
LAO, Ssu, Thai national
LAW, Hsit-han , Myanmar national
LAW, Stephen, Myanmar national
LI, Cheng Yu, Thai national
LI, Kai Shou, Myanmar national
LIN, Aung Thein, Brigadier General, Mayor and Chairman of Yangon City City Development Committee
LO, Hsin Han, Myanmar national
LO, Ping Han, Myanmar national
LO, Ping Zhong, Myanmar national
LO, Steven, Myanmar national
LU, Chin Shun, Thia national
LWIN, Saw, Major General, Minister of Industry 2
MAX MYANMAR CONSTRUCTION CO., Yangon
MAX MYANMAR GROUP, Yangon
MAX MYANMAR CO., Yangon
MAX MYANMAR GEMS AND JEWELLERY CO., Yangon
MAX MYANMAR MANUFACTURING CO., Yangon
MAX MYANMAR SERVICES CO., Yangon
MAX MYANMAR TRADING CO., Yangon
MYANMAR ECONOMIC CORPORATION, Yangon
MYANMAR GEM ENTERPRISE, Yangon
MYANMAR INVESTMENT AND COMMERCIAL BANK, Yangon
MYANMAR IVANHOE COPPER CO., Yangon
MIN, Zaw, Colonel, Minister of Electric Power 1
MYANMAR PEARL ENTERPRISE, Yangon
MYANMAR TIMBER ENTERPRISE, Yangon
MYANMAR ECONOMIC BANK, Yangon
MYANMAR FOREIGN TRADE BANK, Yangon
MYANMAR ECONOMIC CORPORATION, Yangon
UNION OF MYANMAR ECONOMIC HOLDINGS LIMITED, Yangon
MYANMAR IMPERIAL JADE CO., Yangon
MYANMAR RUBY ENTERPRISE, Yangon
MYANMAR TREASURE BEACH RESORT, Bagan, Yangon
MYAWADDY BANK, Yangon
MYAWADDY TRADING CO., Yangon
MYINT, Htay, Chairman, Yuzana Company Limited
MYINT, Kyaw, Minister of Health
MYINT, Li, Myanmar national
NO. 1 MINING ENTERPRISE, Yangon
NO. 2 MINING ENTERPRISE, Yangon
NO. 3 MINING ENTERPRISE, Yangon
NYEIN, Chan, Minister of Education
PAO, Hua Chiang, Myanmar national
PAO, Yu Hsiang, Myanmar national
PHAIROJ, Samoechainuek, Thai national
PHAIROT, Mopokoo, Thai national
PHITAK, Samoechainuek, Thai national
ROYAL KUMUDRA HOTEL, Yangon
RUNGRIT, Thianphichet, Thai national
SAO KUAY, Sae Tung Thai national
SHIH, Kuo Neng, Myanmar national
SHWE, Khin, President, Zay Gabar Company
SOONTHRON, Cheewinprapasri, Thai national
SUTHIT, Samsaeng, Thai national
TAY ZA, Managing Director, Htoo Trading Company Limited; Chairman, Air Bagan Holdings; Managing Director, Pavo Trading Pte. Ltd.
TE, Ho Chun, Myanmar national
TET KHAM CONSTRUCTION COMPANY LIMITED, Mandanay, Yangon
TET KHAM GEMS CO., Yangon
THAUNG, U, Minister of Labour; Minister of Science & Technology
THEIN, Tin Naing, Brigadier General, Minister of Commerce
TET KHAM CONSTRUCTION COMPANY, Mandalay
THIT, Akiraphokin, Thai national
TIEN, Ho Chun, Myanmar national
TUAN, Ming Cheng, Thai national
TUAN, Shao Kuei, Thai national
TUN, Hla, Major General, Minister of Finance and Revenue
TUN, Saw, Minister of Construction
WANG, Ssu, Thai national
WANG, Wen Chou, Thai national
WEI, Hsueh Lung, Myanmar national
WEI, Hsueh Ying, Myanmar national
WEI, Hsueh Yun, Thai national
WEI, Ta Han, Thai national
WIN, Aung, Myanmar national
WITTHAYA, Ngamthiralert, Thai national
YANGON AIRWAYS, Yangon
YUN, Cheng, Myanmar national
YUZANA COMPANY LIMITED, Yangon
YUZANA CONSTRUCTION, Yangon
ZAW, Daw Thidar, Myanmar national
ZAW, Thein, Brigadier General, Minister of Telecommunications
ZAW, Thida, Myanmar national
ZAW, Zaw, Managing Director Max Myanmar Group of Companies, Yangon
ZAY GABAR COMPANY, Yangon