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Entropy72
Master |
24-Oct-2021 14:39
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Time for ASEAN to Give Myanmar?s Opposition a Seat at the Table
1 day ago The Irrawaddy Nearly nine months after its forceful takeover of the country from a legitimately elected civilian government, Myanmar?s military has shown that it is one thing to seize power but an entirely different reality to consolidate and impose control. The inability of the Tatmadaw, as Myanmar?s armed forces are called, to follow through with their Feb. 1 coup has posed multi-layered challenges at home, in the region, and internationally. In response to the Tatmadaw?s blatant putsch, spearheaded by Senior General Min Aung Hlaing and his coup government called the State Administration Council (SAC), ASEAN has dithered and dragged its feet, continually falling behind the coup curve in the face of concerted international condemnation. Now ASEAN?s working mechanisms are catching up with Southeast Asia?s 10-member grouping. As the 38th and 39th ASEAN summits and related leaders? meetings loom, the Myanmar coup issue has topped the agenda, exposing ASEAN?s structural weaknesses. Because of ASEAN?s rotational practice based on the alphabet, Brunei currently chairs the organization, followed by Cambodia next year. These two countries, as opposed to Indonesia and Malaysia, which have opposed Myanmar?s coup regime, are unlikely to be tough on the Tatmadaw. For ASEAN, leaders? meetings are pro forma, attended by heads of government as deemed fit by individual countries. But the prospect of having Snr-Gen Min Aung Hlaing at ASEAN-led summits would surely alienate other major partners. The East Asia Summit, for example, includes the United States, Australia, New Zealand, Japan and South Korea, democratic countries that would not want to meet, even virtually, let alone in person, with the Tatmadaw strongman. ASEAN?s Myanmar conundrum is simple. Snr-Gen Min Aung Hlaing and the Tatmadaw more broadly are facing a nationwide opposition, led under the umbrella of the National Unity Government (NUG) and comprising the Civil Disobedience Movement (CDM), the People?s Defence Forces (PDF), and the Ethnic Armed Organizations (EAOs). Had the military coup succeeded in putting down the civilian-led resistance, ASEAN would not be in this bind and Snr-Gen Min Aung Hlaing?s participation at the upcoming ASEAN-related summits would be par for the course. But Myanmar?s incomplete and eroding coup may signify that military takeovers around the world in the future may not come off so successfully as they used to transpire. The coalition of forces and means of power has shifted in favour of resistance and opposition. Information and communications technologies have enabled an unprecedented mobilization and organization among Myanmar?s opposition groups. Some of them also have taken up small arms in open defiance and conflict against Myanmar?s security forces. This stalemate inside Myanmar, whereby the Tatmadaw does not have the wherewithal to consolidate and control while a determined and fierce opposition movement is unable to overcome a battle-hardened army with superior firepower, is now an international dilemma which ASEAN has been pressed to resolve. Yet early apologists for Myanmar?s coup who saw it as a done deal and a necessity to get on with it should be called out. Myanmar?s coup was staged, but it has not succeeded. The opposition movement is strong and fierce, and the Tatmadaw is unlikely to be able to put them down without a fight to the end. ASEAN?s ducking and dodging will not do the job. At an emergency meeting on Oct. 15, ASEAN ministers decided not to invite Min Aung Hlaing and proposed a ?non-political representative? to take Myanmar?s seat, implicitly aware that having the junta leader?s inclusion is tantamount to disinviting leaders of other major summit partners. ASEAN?s consensus on Min Aung Hlaing is a major move on its conventional and hitherto sacrosanct principle of ?non-interference? in each other?s domestic affairs. Now that ?non-interference? no longer holds, the next big challenge and potentially evolutionary step forward for the organization is to see how far relative and incremental ?interference? can go and what parameters can be drawn around it. The Myanmar coup issue could be a blessing in disguise for ASEAN if the organization can reconceptualize and put in practice a new kind of norm, a mix of the old ?non-interference? and new ways of having a say in neighbors? domestic political situations. Under these tense and politicized circumstances, Myanmar?s would-be ?non-political representative? is an oxymoron. Any senior official or alternative appointee even with a decent reputation from Myanmar?s side would likely come with Min Aung Hlaing?s backing and blessing. By definition, Myanmar?s representative as ASEAN has suggested will be doing the bidding of the senior general and the Tatmadaw. To bite the bullet, ASEAN should invite representation both from the NUG and from the military regime, since neither has the upper hand and full control over Myanmar?s future. Excluding the NUG will further dent ASEAN?s credibility and international legitimacy, thereby undermining ASEAN centrality. In fact, certain pro-democracy governments among ASEAN have already engaged with the NUG. Thus far, Indonesia, Malaysia and Singapore as well as the Philippines have been clear in their support for a return to democratic rule and a constitutional framework in Myanmar. The rest have sat on the fence or implicitly backed the coup regime. With such divisive views on Myanmar, a dual structure of representation is fairer because the NUG is the legitimate government of the Myanmar people underpinned by a constitutional framework and a democratic process. Myanmar?s military regime obviously has power and holds the seat of government in Naypyitaw. But everything in Myanmar is being played for at the cost of blood, sweat and tears in an intensifying civil war. How ASEAN?s summit season plays out over the Myanmar coup and representation at top meetings will have far-reaching ramifications. The United Nations, which led the way in not meeting as yet with ASEAN heads over the issue of Myanmar?s legitimate leadership, will have more to say and will take into account events on the ground when its credentials committee gathers in November to determine the country?s rightful representation. What ASEAN does now by recognizing both the NUG and the SAC during this summit season will save the organization from more erosion of centrality and credibility and shore up its Five-Point Consensus from April with more bargaining power vis-a-vis Snr-Gen Min Aung Hlaing. It will also let the Myanmar people fight for their own self-determination in a fairer fashion. Thitinan Pongsudhirak, a professor and director of the Institute of Security and International Studies at Chulalongkorn University?s Faculty of Political Science, earned a PhD from the London School of Economics with a top dissertation prize in 2002. Recognized for excellence in opinion writing from the Society of Publishers in Asia, his views and articles have been published widely by local and international media. This article was first published by The Bangkok Post. |
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Entropy72
Master |
24-Oct-2021 14:36
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ASEAN envoy's Myanmar trip and meeting with political parties delayed
12 Oct 21, Myanmar Now The Association of Southeast Asian Nations (ASEAN) special envoy?s meeting with members of Myanmar political parties, scheduled for Tuesday in Naypyitaw, was postponed as he had not yet arrived in the country, sources told Myanmar Now. The junta?s election commission initially invited at least eight political parties to its Naypyitaw office to meet with ASEAN?s special envoy to Myanmar Erywan Yusof on Tuesday. Local media reports later said the meeting was postponed until Wednesday. The invited parties did not include representatives from the National League For Democracy (NLD), the ruling party ousted in the country?s February 1 military coup. In a statement released on Tuesday, special envoy Yusof said he ?looks forward to a visit to Myanmar? in accordance with the five-point consensus agreed to by ASEAN leaders in April. In August, ASEAN selected Yusof, Brunei?s second foreign minister, as its special envoy to the country to help resolve the political crisis that has followed the coup. The political parties invited by the junta?s election commission to the meeting include the military-backed Union Solidarity and Development Party (USDP) the Union Betterment Party (UBP) of ex-general and parliamentary speaker Thura Shwe Mann the Democratic Party of National Politics (DNP) founded by ex-general and known ultranationalist Soe Maung the National United Democratic Party (NUD) started by a former NLD lawmaker and his family the Shan Nationalities Democratic Party (SNDP), and three other ethnic state-based parties. A senior UBP member told Myanmar Now that on Monday the junta?s election commission invited the party to the meeting with the special envoy but informed them again on Tuesday that it had been held back one day. ?They said they would tell us the time later,? the UBP party official said. NUD chair Sein Win confirmed the postponement and said he would attend the meeting ?only to listen to what they will say.? Sai Aik Pao, the chair of the SNDP, also confirmed that the meeting was no longer taking place on Tuesday but refused to comment further. The military council has not yet announced details surrounding the ASEAN special envoy?s trip to Myanmar or the meeting with political parties. News of the trip was shared by representatives of the political parties invited by the junta?s election commission to attend. The reason for Yusof?s delay was also unclear and could not be independently verified at the time of reporting. However, sources from within the police and from political parties told Myanmar Now that the envoy was supposed to fly from Brunei to Naypyitaw on Tuesday morning but the trip was postponed because junta chief Snr-Gen Min Aung Hlaing barred him from meeting with the individuals he requested. The junta last week denied the envoy?s request to speak with detained civilian leaders State Counsellor Aung San Suu Kyi and President Win Myint but instead offered him a meeting with Vice President Henry Van Thio and former Lower House speaker T Khun Myat, according to The Irrawaddy. The UBP senior party member who spoke to Myanmar Now said that the junta?s foreign affairs ministry is engaged in negotiations with the envoy regarding the trip. ?For [the special envoy], this crisis can?t be solved without meeting with [Daw] Suu and other top leaders because they are the key to Myanmar?s current struggle. The trip was cancelled for now because he believes his trip will be meaningless if he can?t meet with them,? he said. Anti-coup protesters gather in Yangon?s Sule for demonstration on February 22 (Myanmar Now) Anti-coup protesters gather in Yangon?s Sule for demonstration on February 22 (Myanmar Now) According to an October 5 interview by RFA with the military spokesperson Maj-Gen Zaw Min Tun, the envoy?s request to meet with Aung San Suu Kyi was rejected on the grounds that she is facing trial on several charges. ?I have never heard of any governments allowing foreign delegates to meet with a person on trial or a person or representatives of illegal organisations, except in very special circumstances,? Zaw Min Tun said in the interview. ?We have been working in accordance with standard procedures,? he added. Following a virtual meeting of the ASEAN foreign ministers on October 4, Malaysian foreign minister Saifuddin Abdullah stated on Twitter that Malaysia was ?disappointed? that the Myanmar junta refused to cooperate with the bloc?s special envoy and suggested that Myanmar could be excluded from the ASEAN summit scheduled for October 26-28. In his RFA interview, junta spokesperson Zaw Min Tun dismissed the foreign minister?s remark as ?personal? and not reflective of ASEAN?s stance. Days later, Saifuddin Abdullah said in the Malaysian parliament that his government may be willing to hold talks with Myanmar?s shadow National Unity Government (NUG) if the military continues to deny the ASEAN envoy?s request to talk to all relevant parties in the crisis, noting that this was one of the five points featured in the bloc?s April consensus. ASEAN leaders agreed in an April 24 meeting that there must be an end to violence in Myanmar, constructive dialogue with all parties involved, mediation supported by a special envoy, the provision of humanitarian aid, and a visit by the special envoy to the country to meet with relevant parties. |
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ozone2002
Supreme |
19-Oct-2021 16:36
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Last:0.141 -- buy when there' s blood 🩸 on the streets Accumulate cheap and reach book value sell make dble gd luck dyodd
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FlyingCat
Master |
19-Oct-2021 16:26
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this one quite strong for past week.. but no one commenting... retailers all burn n give up?? hahha | ||||
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Entropy72
Master |
08-Oct-2021 18:03
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Kopernik raises stake in Yoma StrategicThe Edge SingaporePublished on Thu, Oct 07, 2021 / 2:14 PM GMT+8 / Updated 1 days ago
Kopernik Global Investors, a Florida-based investment adviser, is now a substantial shareholder of Yoma Strategic Holdings.
According to an Oct 1 filing, Kopernik acquired 850,000 shares for 12.7 cents or some $107,950 in total. The purchase brings Kopernik&rsquo s interest in Yoma from just over 111.3 million shares or 4.98% to nearly 112.2 million shares or 5.01%. Yoma, a conglomerate whose main business is in Myanmar, suffered a selldown following the military coup earlier this year. From around 30 cents before the coup on Jan 30, it had dropped to a low of 12 cents or so in September.Kopernik&rsquo s purchase stands in contrast to the selling by another fund manager. On April 15, Aberdeen Asset Management, renamed Abrdn, sold 2.1 million shares for $290,965.11 or an average of 13.8 cents each. This brought Aberdeen&rsquo s stake from 113.6 million shares or 5.077% to just below 111.5 million shares or 4.983%, meaning it is no longer a substantial shareholder. In 1HFY2021 ended March 31, Yoma reported losses widened 25% to US$19.9 million ($26.99 million) from losses of US$15.9 million a year ago. In a business update three months later for 3QFY2021 ended June 30, Yoma reported improvement in revenue from its real estate business but booked lower revenue from its motor and financial services businesses. Overall, the company&rsquo s revenue for 3QFY2021 ended June 30 was US$19.6 million, up 2.1% y-o-y from US$19.2 million. As at June 30, Yoma&rsquo s net asset value was 25.22 cents per share, down slightly from 26.79 cents per share as at Sept 30 2020. On Aug 2, the company announced that Filipino businessman Fernando Zobel de Ayala has stepped down from its board. He is the younger brother of Jaime Augusto Zobel de Ayala, chairman of Ayala Corporation, their family business. Fernando is the president and CEO. In place of Fernando, Cezar Peralta Consing, a director of Ayala Corp, is now a non-executive, non-independent director on Yoma&rsquo s board instead. Fernando was first appointed to Yoma&rsquo s board in December 2019, following a US$237.5 million placement taken up by Ayala in exchange for a 20% stake in Yoma and Yangon-listed First Myanmar Investment Company, which is also controlled by Serge Pun, Yoma&rsquo s chairman. &ldquo We have been overweight on our home market, we have now reached a stage where we have to build stronger ties in this Southeast Asian story,&rdquo said Jaime back on Nov 16, 2019 when the partnership was announced. &ldquo The Myanmar growth story is an extraordinary one. There&rsquo s a tremendous opportunity,&rdquo he added. Ayala had already committed nearly US$108.6 for 332.5 million new shares in Yoma, giving the leading Philippines conglomerate a stake of 14.9% in the Myanmar-based company. On Sept 30, Yoma announced that the longstop date of the second tranche of the placement to Ayala, already extended to Sept 30, will be extended again to Dec 31. |
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ozone2002
Supreme |
08-Oct-2021 17:38
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Last:0.136  +0.007onward to book value 25c dble bagger in the making gd luck dyodd
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wingone
Member |
08-Oct-2021 16:46
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the start is beginning now
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waitlonglong2011
Senior |
08-Oct-2021 10:45
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Hopefully its a good start. Loaded up? https://www.channelnewsasia.com/business/myanmar-central-bank-sees-currency-stabilising-new-measures-2227636 |
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PhillipTan
Supreme |
29-Sep-2021 13:26
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Just pray that it does not bleed to death Given the situation there plus covid, I wouldn' t foresee it recovering anytime soon Good luck and DYODD
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ozone2002
Supreme |
29-Sep-2021 11:58
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Last:0.126  -0.001yoma trading half book value of 25c A famous investor once said " Buy when there' s blood on the streets" gd luck dyodd |
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PhillipTan
Supreme |
15-Sep-2021 00:20
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Myanmar' s Suu Kyi back in court after absence, still ' somewhat dizzy'Myanmar' s Aung San Suu Kyi returned to court on Tuesday, a day after a non-appearance on health grounds, seeming relieved, but saying she was still " somewhat dizzy" , her lawyer said.Suu Kyi, 76, who is on trial over multiple charges filed since her removal in a Feb 1 military coup, was unable to appear on Monday due to dizziness and drowsiness that her legal team said was caused by motion sickness while being driven to court. |
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PhillipTan
Supreme |
07-Sep-2021 22:44
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Panic buying grips Yangon after shadow government in Myanmar declares ' people' s defensive war'Long queues formed at supermarkets and petrol stations in Yangon on Tuesday, shortly after Myanmar' s shadow government declared a " people' s defensive war" against the Myanmar junta.In a video message broadcast online in the morning, the acting president of the National Unity Government (NUG) Duwa Lashi La declared a state of emergency that would end only when a civilian government was restored to power. He warned civil servants against going to the office, and urged people to avoid unnecessary travel and to stock up on their medications and daily necessities. He called on anti-junta armed resistance groups to quell junta forces in their respective areas, and also for Myanmar' s ethnic armed organisations to " immediately attack" the junta through various methods. " I believe that our neighbouring countries, Asean countries, the United Nations and all other countries around the world understand that we do it out of necessity," he said. The announcement triggered panic buying in Yangon, with people loading up on rice, cooking oil, dried food and medicine. Meanwhile, long queues of vehicles formed outside petrol stations as motorists rushed to secure fuel, checks by The Straits Times showed. The NUG' s declaration comes just a week before the United Nations General Assembly meeting in New York, where it is vying with the junta to be recognised as the legitimate representative of Myanmar. The NUG comprises parliamentarians ousted by the Feb 1 military coup as well as allied civil society activists and intellectuals. Both the NUG and the Myanmar junta have denounced the other as terrorists. Asean is arranging humanitarian aid for Myanmar, with the bloc having appointed Brunei' s second foreign minister Erywan Yusof as its special envoy to try to facilitate political dialogue. Over the weekend, he revealed a proposal for a four-month ceasefire in Myanmar to ensure the safety of humanitarian workers delivering aid. This idea was not opposed by the junta, he told reporters, adding that it was also communicated indirectly to parties opposed to the coup. It is not clear whether NUG' s declaration on Tuesday will trigger a surge in armed clashes. Over 170 localised, semi-autonomous " people' s defence forces" (PDFs) have been staging guerrilla-style attacks on troops and police officers over the past few months. Some PDFs have also killed alleged junta informers and civilian ward administrators working under the junta. In a separate announcement on Tuesday, it urged resistance fighters to abide by a code of conduct that includes compensating civilians for the use of their properties during emergencies and not killing or torturing captives. Analysts say that an armed uprising against the junta cannot succeed without support from Myanmar' s numerous ethnic armed groups. Yet the most powerful of these, like the United Wa State Army and the Arakan Army, have so far stayed above the fray. The junta led by Senior General Min Aung Hlaing has killed over 1,000 people and imprisoned over 6,000 since the coup, according to the Assistance Association of Political Prisoners. The military seized power after alleging that the November 2020 election, in which the National League for Democracy government emerged victorious, was fraudulent. The junta has invoked a state of emergency, which Gen Min Aung Hlaing says will be lifted by August 2023. In what it said was an effort to combat Covid-19, the junta has declared public holidays since July. Government offices have been shut too. |
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hanluno
Member |
07-Sep-2021 15:52
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Seems it is slowly coming back. Hope we get rewards in the end.
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Entropy72
Master |
30-Aug-2021 16:39
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Atrocious Myanmar Military at Risk of Splitting: Army DefectorsThe Irrawaddy
Burma
By The Irrawaddy 28 August 2021 With a record-breaking number of defections unmatched in nearly six decades and brewing discontent among the ranks against their superiors, Myanmar&rsquo s more than 300,000-strong military is now at risk of splitting, according to some ex-army officers who have deserted their units recently. Currently, around 2,000 soldiers and police have joined the country&rsquo s Civil Disobedience Movement (CDM), a nationwide boycott by Myanmar civil servants against the regime following their takeover in February. Many more are in the pipeline and out of the current 2,000 defectors, one-third are military personnel, said the officers who have joined the CDM as they are not pleased with the country&rsquo s military regime.  Military deserters: Captain Lin Htet Aung (left) and Sergeant Yin Lei Lei Tun. Though the number of defections is small for now, it is unprecedented in Myanmar&rsquo s military history going back to 1962 when the then dictator Ne Win staged a coup and consolidated the country&rsquo s armed forces. Some soldiers protested against the army during pro-democracy uprisings in 1988 but the number at the time was far less significant. So, it&rsquo s worth asking why so many are doing so now. &ldquo [Under the regime] people are ashamed to be soldiers, to attend the Defense Services Academy or to join the military. This is a very sad thing for the future of the military&rdquo said one of the officers, Captain Nyi Thuta. After graduating in 2010 from the 52th Intake of the Defence Services Academy, he served at his base in Naypyitaw until the coup. When he learned about the takeover, he felt Myanmar was heading into a dark age. When the junta escalated its nationwide deadly crackdowns on peaceful protesters who were against their rule in March, the captain left his unit. He said &ldquo You can&rsquo t kill people who express their views.&rdquo The regime&rsquo s brutality has shocked the world. They shot dead more than 100 people in a single day in March. They have sprayed bullets in residential areas. During raids, they have indiscriminately killed people, including children as young as 6. Arbitrary arrests and extrajudicial killings by the soldiers persist. As of Thursday, the junta had killed 1,019 people during their crackdowns, raids, arrests, interrogations, arbitrary killings and random shootings, according to the Assistance Association for Political Prisoners (AAPP), which is compiling the deaths and arrests since Feb. 1 coup. Another defector, Captain Lin Htet Aung, said what his fellow soldiers did during the crackdowns were totally contradictory to the codes of conduct they were supposed to follow. &ldquo They have changed into thugs with guns,&rdquo he said. As a result, people detested the military so much that it demoralized the men in uniform like never before. The regime&rsquo s atrocities against protesters became an immediate push factor for some military personnel to join the CDM as they have become more aware of the true colors of the military junta, which has been committing atrocities and murdering its own people. Sergeant Yin Lei Lei Tun used to be proud of being a soldier. But her faith in the armed forces she joined in 2016 was lost with the coup when she saw the junta&rsquo s atrocities against peaceful anti-regime protesters. So she joined the CDM in April after defecting from her military base in Yangon Region. &ldquo After the coup, I feel insecure about being a soldier, as people hate the military. Our military is also doing the wrong thing&rdquo said the sergeant. Currently, about 5 to 10 junta soldiers have been defecting from the military daily, according to the People&rsquo s Soldier group, a Facebook page co-founded by Captain Nyi Thuta to provide assistance to striking soldiers and to persuade more military personnel to leave their barracks to join the CDM. Most of the soldiers who have joined the CDM are privates and sergeants. Officers ranking from lieutenants to majors account for around 100. The Myanmar military has been notorious for attacking its own people rather than protecting them. Its atrocities like arbitrary killings, arrests and looting in ethnic areas are internationally well known. The coup in 2021 and follow-up atrocities have worsened its already tarnished reputation while pushing its leadership into a corner, as they are facing growing armed resistance in both urban and rural areas, forcing coup leader Min Aung Hlaing to admit he couldn&rsquo t fully control the country yet. Then they face another big blow: defections by their subordinates who detest their bosses&rsquo actions. Captain Nyi Thuta said the image of the military is now the worst in history, as more military personnel are realizing that the reputation of the military and soldiers have been totally shattered. &ldquo So, this momentum [of defections] is going to grow. The sure thing is that the time has come for the people and people&rsquo s soldiers to unite,&rdquo he said. Cracks in the military Everyone familiar with Myanmar politics knows it is hard to imagine that change in Myanmar can come about without the involvement of some men within the military, which has remained the country&rsquo s most powerful institution since 1962. Now with defections growing like never before, Captian Nyit Thuta said the military has potential to split into two groups: those who want to inherit the bad legacy of the military and others who don&rsquo t want to do so.  The junta&rsquo s troops are seen during a crackdown against the anti-regime protest in Yangon. &ldquo Anyone defecting said they want to be people&rsquo s soldiers&mdash professionals who protect the people. They don&rsquo t want to hand over the institution&rsquo s bad legacy to their juniors,&rdquo he said. Another defecting military official, Captain Lin Htet Aung, also realized they were working for the coup leaders who put their personal benefits before the country or the military institution itself. The captain, who graduated from the 54th Intake of the Defense Services Academy, left the military barracks in Shan State a few months after the February coup after seeing the regime&rsquo s atrocities against unarmed peaceful anti-coup demonstrators and civilians. Later he formed the People&rsquo s Embrace group to help military personnel who want to defect. &ldquo We are seeing cracks in the military. There are many injustices in posting and other human rights violations that create discontent among the ranks against their superiors. So, the military could face a split,&rdquo said Captain Lin Htet Aung. For examples, he explained, some military troops have been unfairly posted on the frontline for years while others who have good connections with people upstairs are being posted in safe areas like Naypyitaw, he added. International and local observers are convinced that the military institution must split up in order to restore the path to democracy in Myanmar, as there is a lack of effective actions by the UN and international organizations and neither the armed resistance of the people nor the ethnic armed groups can defeat the junta. Captian Lin Htet Aung also agreed with the point that without the split within the military, it&rsquo s unlikely democracy will be restored. &ldquo Years-long bad habits [like corruption] and systems [like oppression] are deeply rooted in the military. We also need to fight to force those ingrained bad habits out in order to restore democracy. So, the institution needs to split up&rdquo he added. In an attempt to encourage more defections, Myanmar&rsquo s parallel National Unity Government (NUG) on Monday issued a statement urging military personnel to join the CDM by promising to keep not only their original positions and pension allowances, but also their safety. It also said that security forces personnel who left the military barracks can join the federal union army and police forces reformed by the NUG. Meanwhile, people&rsquo s reception of defecting soldiers has been quite encouraging, Captain Nyi Thuta said. Both the People&rsquo s Soldiers and People&rsquo s Embrace groups are now able to support the striking soldiers due to donations made by the public. &ldquo They now realize that people just hate soldiers who support the institution that oppresses them with guns. They know now that you will be showered with love once you are no longer affiliated with them,&rdquo he said. For most defectors from the military, they believe that only a split within the military itself will bring about a radical change for the armed forces to become the people&rsquo s military. Captain Lin Htet Aung said the armed forces can&rsquo t be changed even with the death of coup leader Min Aung Hlaing, as another would take his place. &ldquo To wipe out the deeply rooted bad habits and systems of the military, reform is the only way. It can only happen when it splits,&rdquo he said. &ldquo It could happen if we are more united.&rdquo |
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Entropy72
Master |
30-Aug-2021 16:38
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China Doesn&rsquo t Want Myanmar&rsquo s NLD Dissolved: Informed SourcesThe Irrawaddy
Burma Chinese President Xi Jinping (right) and Myanmar&rsquo s detained State Counselor Daw Aung San Suu Kyi (left) at the launch ceremony for events to mark the 70th anniversary of China-Myanmar diplomatic relations in Naypyitaw in January 2020. / Myanmar State Counselor&rsquo s Office By The Irrawaddy 27 August 2021 China has voiced concern over the Myanmar military regime&rsquo s plan to dissolve the National League for Democracy (NLD), the party that won the junta-annulled 2020 general election in a landslide, several informed sources told The Irrawaddy. Chinese officials have conveyed to the regime&rsquo s leaders Beijing&rsquo s message that it wants to see the NLD continue to exist as a political party, they said. Politicians close to the NLD and several China-Myanmar watchers said the Chinese recently told Myanmar officials that China will continue to support Myanmar and maintain border trade and infrastructure projects on one condition: that the junta keeps the NLD alive. In early August, China&rsquo s ambassador to Myanmar, Chen Hai, and Wunna Maung Lwin, the regime&rsquo s foreign minister, held a virtual meeting. During the meeting, China pledged US$6 million to fund 21 development projects in the country. A statement from the junta&rsquo s foreign ministry said the funds were to be transferred from China for projects within the Mekong-Lancang Cooperation framework. It said these included projects on animal vaccines, culture, agriculture, science, tourism and disaster prevention. During the meeting, China started referring to the Myanmar junta as the country&rsquo s &ldquo government&rdquo .  National League for Democracy Central Executive Committee members (most of whom are now detained) meet with Song Tao, head of the International Liaison Department of the Communist Party of China, at the NLD&rsquo s headquarters in Yangon in September 2018. / NLD website Myanmar&rsquo s military regime revoked the results of last year&rsquo s general election, in which the NLD led by now detained State Counselor Daw Aung San Suu Kyi won a landslide victory, claiming the poll was &ldquo not free and fair&rdquo and &ldquo not in compliance with&rdquo the constitution and the law. Many observers of the political situation in Myanmar fear the junta plans to dissolve the NLD in the future. In July, the junta-appointed Union Election Commission (UEC) claimed it had found evidence that the NLD intentionally violated the law to ensure its landslide victory in November&rsquo s poll. &ldquo What should we do with the NLD, which plotted against the law [to win the election]? The party must be abolished. And we must consider taking action against those who rigged the vote as traitors to the country,&rdquo UEC chairman U Thein Soe, a former major general in the Myanmar military, said at the time. In response to the UEC chairman&rsquo s remark on the party&rsquo s possible dissolution, Daw Aung San Suu Kyi said during a meeting with her lawyers that &ldquo the NLD will be there as long as the people are, because the party was founded for the people.&rdquo Recently, a member of the NLD&rsquo s Central Committee told Radio Free Asia&rsquo s Myanmar Service that the regime had arrested a total of 324 NLD members&mdash 98 of whom are members of Parliament (MPs)&mdash since its Feb. 1 coup d&rsquo é tat. Among the detained are 15 members of the NLD&rsquo s Central Committee, as well as five regional and state chief ministers, the committee member said. He warned that the regime is trying to completely remove the NLD from the political scene in Myanmar. UN Special Envoy to Myanmar Christine Schraner Burgener recently told reporters that the NLD could soon be disbanded. Like many governments around the region, China forged a close relationship with the NLD government. Chinese President Xi Jinping visited Myanmar in January 2020 and signed multibillion-dollar infrastructure deals. According to NLD sources, by that time, more than 100 NLD members including key players, elected MPs and youth wing members had visited China since 2016. China is one of the top investors in Myanmar and has strategic infrastructure projects in the country, including energy pipelines and a proposed port that would give Beijing a critical link to the Indian Ocean. China also continues to provide political and military support to ethnic armed groups based along the Myanmar-China border. Soon after the regime ousted Myanmar&rsquo s elected government in February, China&rsquo s state-run Xinhua news agency described the seizure of power by force of arms as a &ldquo cabinet reshuffle.&rdquo Since then, anti-China sentiment in Myanmar has hit fever pitch due to Beijing&rsquo s failure to condemn the military crackdown and the mounting perception that it has fully sided with the junta. Myanmar has seen anti-China demonstrations, and factories owned and run by Chinese companies have been attacked. China&rsquo s image has been shattered and will be hard to repair in the eyes of Myanmar citizens, who deeply loathe the military junta. Beijing has been accused of taking a soft approach toward the junta, but insists its priorities are stability and not interfering in the internal affairs of its neighbor. It has pledged its support for ASEAN&rsquo s consensus on ending the crisis in Myanmar, with the Chinese Foreign Ministry encouraging &ldquo all parties in Myanmar to engage in political dialogue and restart the process of democratic transformation.&rdquo Reached at a special summit in Jakarta on April 24, ASEAN&rsquo s &ldquo five-point consensus&rdquo on Myanmar includes calls for an immediate end to violence and political negotiations between the contending parties. |
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Entropy72
Master |
19-Aug-2021 16:26
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Sustained by its land bank for now. But its most important software (leadership team helmed by Serge Pun and several expat) will diminish if Myanmar remains in civil unrest for another few years under junta rule.
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Lugi71
Veteran |
19-Aug-2021 09:32
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Amazing that Yoma is still holding up. Companies are leaving and giving up. Why continue to do business there despite the dangers to life and also the difficulties to send money (revenue) back to one' s own country? |
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Entropy72
Master |
18-Aug-2021 23:55
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Wave Money has lost half of its app users since Myanmar?s coup in February
16 Aug 2021 Myanmar?s leading mobile wallet, Wave Money, has lost over 50% of its monthly active app users, taking the count from ?more than 2 million? in January to 1 million as of May 31. This development follows Ant Group?s scuttled plans to take a stake in the fintech startup for USD 73 million. Singapore-listed Yoma Strategic Holdings, which currently holds a 44% stake in Wave Money, said on August 11 that the fintech subsidiary has seen a month-on-month ?double-digit growth rate? in transaction volume since its Wave Pay mobile app became available for public use on May 3. Wave Money facilitates bill payments, local remittances, and over-the-counter transaction services through Wave Pay. Myanmar?s junta blocked mobile internet services on March 15. The block remained in place until late April when authorities opened access to a handful of mobile banking applications and Microsoft?s Office 365 services. Even so, some banned sites, including Facebook and Twitter, cannot be reached without the use of a virtual private network. ?While overall revenue and transaction volumes have been affected by the broader slowdown in economic activity and the availability of cash in the over-the-counter business, EBITDA remained positive, supported by stringent cost control measures,? Yoma said in a filing. Myanmar?s economy is expected to contract 18% this year due to the ongoing political turmoil and the third wave of COVID-19 infections, according to a World Bank report published on July 26. ?Despite bank branch re-openings and several interventions from the Central Bank of Myanmar, physical currency continues to be in short supply, and access to banking and payment services remains limited,? the report said. Last June, Ant Financial, the fintech affiliate of Alibaba, said it would invest USD 73.5 million for a minority stake in Wave Money. Shortly after, Yoma announced it would take over Telenor?s 51% control of Wave Money in a USD 76.5 million deal. But Yoma indicated in its filing submitted to SGX on May 17 that the deals were off. Wave Money mobilized a total of MMK 12 trillion (USD 8.7 billion) in 2020, doubling 2019?s MMK 6.4 trillion (USD 4.3 billion). As of September 2020, it had 27 million unique customers, up from 21 million in May 2019. The aggregate capital involved in Wave Money?s transactions is equivalent to more than 11.5% of Myanmar?s estimated 2020 GDP of USD 75.5 billion, according to a company statement published in January. Before the coup, the startup registered over 3.9 million over-the-counter monthly active users in January, but the latest figures were not disclosed in Wave Money?s most recent announcement. |
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Entropy72
Master |
18-Aug-2021 18:39
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Since 12 Aug, the daily short volume has climbed up and accelerated. Somebody knows something that the market doesn't yet. | ||||
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Entropy72
Master |
18-Aug-2021 09:11
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It has taken longer than expected, but market seems to start recognising the futility of hope in Myanmar. | ||||
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