EBO Burma News, 27 March 2003

 

News Summary:

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1. Protesters demand that BAT quit Burma

 

2. Burma's military halts Premier exit

 

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Protesters demand that BAT quit Burma

 

The Guardian

 

Thursday March 27, 2003

 

 

 

Fifty Kenneth Clarkes gathered in London yesterday to demand that British American

 

Tobacco close the factory it jointly owns with the military regime in Burma.

 

 

 

Protesters carrying masks of the BAT deputy chairman chanted in Burmese outside

 

the firm's headquarters, with placards quoting a letter from the former chancellor

 

to a constituent admitting he felt uncomfortable about investment in the country.

 

 

 

John Jackson, director of Burma Campaign UK, said: "We are not going to let

 

Ken Clarke off the hook. BAT are collaborating with a military dictatorship.

 

They are funding a regime that rapes, murders and tortures its own people."

 

 

 

Campaigners from the Burma Campaign were joined by Unison representatives

 

and members of the Burmese community in cluding Buddhist monk U Uttara, above.

 

 

 

BAT said: "We understand and greatly respect concerns about human rights.

 

However, we do not believe the best way forward is for businesses to withdraw

 

from countries whose governments' human rights record have been criticised.

 

Companies do not and should not have a mandate to step into areas of political

 

authority."

 

 

 

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Burma's military halts Premier exit

 

Wednesday March 26, 2003

 

The Guardian

 

 

 

Terry Macalister

 

 

 

Premier Oil has been embarrassed again by the Burmese military, which has

 

delayed the handover of the company's local assets to its partners by withholding

 

written permission to do so.

 

 

 

Without such permission, the British oil exploration and production specialist

 

cannot withdraw, as planned, from the country. The six-month delay also stalls

 

a huge restructuring of its shareholding which could transform its stock price.

 

 

 

Premier, which was criticised by human rights activists over its operations in Burma,

 

insisted yesterday the deal was not in danger of collapse.

 

 

 

"We are not signalling concern about the sale. It will go through. We already have

 

verbal approval from Myanmar [Burma] and we already said the timetable was in

 

the hands of the regulatory authorities," said the finance director, John van der Welle.

 

 

 

Premier said it expected the switch of its 26.67 per cent holding in the Yetagun

 

gas project to take place "some time in the second quarter". But this is the third

 

deadline given by Premier, which originally talked of the "end of December" and

 

then in January claimed permission would come "some time in the first quarter".

 

 

 

The Burma assets, plus certain stakes in the Natuna field in Indonesia, are being

 

switched as part of a $670m (£427m) deal whereby Amerada Hess of the US and

 

Petronas of Malaysia will both sell their 25 per cent stakes in Premier.

 

 

 

That block of shares was a major drag on the Premier share price because it left

 

the British firm protected, in effect, from any takeover bid.

 

 

 

The Indonesian authorities have already given their written permission for the

 

Natuna field changes. The delays were attributed by Premier to the Burmese

 

government and to the fact that PTT of Thailand, Nippon Oil of Japan and MOGE

 

of Burma have been keen to take a slice of Premier's share under pre-emption

 

rights. Originally it was expected that the entire Yetagun stake sold by Premier

 

would go to Petronas, which would have been less complicated.

 

 

 

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Burma News