Nationalisation

expand all
collapse all

Individual Documents

Description: "A compelling case has emerged which is of concern and needs attention in the region. The case refers to a joint venture in the Union of Myanmar (Burma) between a Singapore-based company, Yaung Chi Oo Trading, and the Ministry of Industry No. 1 of the State Peace and Development Council (SPDC). In 1993, the Union of Myanmar opened up its doors to foreign investment. The bankrupt Mandalay Brewery bubbled back to life. Mandalay Beer became a recognised brand name. A network of 40 pubs operated nationwide and it became the largest domestic taxpayer, generating revenue for the dilapidated state coffers. On November 11, 1998 the joint venture came to an abrupt halt when armed soldiers seized the brewery on the orders of the SPDC. The bank accounts of the partner were frozen and it was threatened with arrest for alleged misappropriation of funds soon after its final payment of $5.3 million..."
Source/publisher: Legal Issues on Burma Journal No. 7 (Burma Lawyers' Council)
2000-12-00
Date of entry/update: 2003-06-03
Grouping: Individual Documents
Category: Nationalisation
Language: English
Format : htm pdf
Size: 7.65 KB 598.79 KB
more
Description: Burma?s ruling junta is facing justice at The Hague-not, like erstwhile ally Slobodan Milosevic, for crimes against humanity, but for forcibly seizing control of a brewery.
Source/publisher: "The Irrawaddy", Vol 9. No. 5 (Business section)
2001-06-00
Date of entry/update: 2003-06-03
Grouping: Individual Documents
Category: Nationalisation
Language: English
more
Description: "The Burmese junta is suing Win Win Nu, the former operator of Mandalay Beer, for scaring off investors... Burmese businesswoman Win Win Nu has fallen afoul of Burma?s ruling military government for the second time. Recently, the Burmese generals have been blaming her for the country?s decline in foreign investments, claiming that she gave false information to foreign media. In order to cover up their illegal take-over of her company, the generals have opened a lawsuit against her on three counts for compensation of US $74.3 million and 94.6 million Burmese kyat at Rangoon Divisional Court. Once again, the Burmese generals, who are seeking to attract foreign investment into the country?s paralyzed economy, have shot themselves in the foot. In the eyes of foreign investors, some of whom are wary of entering Burma?s so-called open market, this is just another reason to stay away..."
Creator/author: Maung Maung Oo
Source/publisher: "The Irrawaddy", Vol. 9, No. 9
2001-12-00
Date of entry/update: 2003-06-03
Grouping: Individual Documents
Category: Nationalisation
Language: English
more