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drug links in singapore
- Subject: drug links in singapore
- From: ncgub@xxxxxxxxxxx
- Date: Thu, 07 Nov 1996 18:00:00
National Coalition Government of the Union of Burma
815 Fifteenth St NW, Suite 910, Washington, DC20005
T:202-3937342 F:202-3937343 Email:ncgub@xxxxxxxxxxx
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PRESS RELEASE PRESS RELEASE PRESS RELEASE PRESS RELEASE
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SINGAPORE SLING
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November 7, 1996
The Special Broadcasting Service (SBS), an Australian
television station, aired a program called 'Singapore Sling' on
October 12, 1996. The program linked well-known Burmese drug
lord Lo Hsing Han and his son Steven Law to several legitimate
Singapore-based businesses.
The SBS program also showed that the Government of Singapore
Investment Corporation (GIC) is a core shareholding in the
Myanmar Fund. The Fund was set up in 1994 by the Robert Kuok
Group of Singapore and Malaysia (Shangri-La Hotels), and the Ho
family of Thailand. The Fund is registered in Jersey and
listed on the Irish Stock Exchange in Dublin.
The Myanmar Fund has a 5.5% share in both the Traders Hotel and
the Shangri-La Hotel in Burma, as well as a 25% option in Asia
World Industries Company. The parent Asia World Company was
"instrumental in the structuring of the Kuok Group's Traders
Yangon and Shangri-La projects," and holds a 10% option in
both. The Chairman of Asia World Company is Burmese drug lord
Lo Hsing Han.
In a November 2, 1996 statement, the Government of Singapore
confirmed its investment of US$10 million (21.5%) in the
Myanmar Fund. It listed other shareholders as Air Liquide
International of France, Coutte & Co of Britain and the Swiss
Bank Corporation. Singapore claims to be a passive investor
and defended the Fund's decision to invest in the Burmese
companies identified in the SBS program as ''straightforward
investments in bone fide commercial projects." Instead, it
tool to task Dr Chee Soon Juan, leader of the opposition
Singapore Democratic Party and SBS for attacking the Singapore
Government.
The NCGUB regrets that the Government of Singapore took such
offense at the SBS report and Dr Chee Soon Juan's involvement.
The NCGUB also regret that the Government of Singapore
considers having well-known drug traffickers as investment
partners in Burma as a "straightforward" business decision.
Lo Hsing Han's involvement as a major player in the Burmese
drug trade is well-known. The fact that his son, Steven Law,
was recently denied a visa to the United States because of
suspected drug links, should cause the Government of Singapore
to reconsider whether it is proper to have the Lo/Laws as
investment partners.
Singapore is a respected member of the international community.
It has much to offer and can play a major role in the region.
The NCGUB, therefore, calls on the Government of Singapore to
uphold its good name and launch a Commission of Inquiry, not
only on the GIC and the Myanmar Fund, but also on the overall
links between Burmese drug lords and legitimate Singapore
businesses. Singapore's leadership in this area will be
greatly appreciated by the people of Burma.
oo00oo