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Justice For Myanmar

26 Feb, 10 tweets, 6 min read

https://twitter.com/JusticeMyanmar/status/1364873047967203329

Have you heard of Emerging Towns and Cities Singapore Ltd (ETC)?🧐 Its a #Singapore-based developer & lead investor in Golden City. Golden City complex is built on land controlled by #Myanmar military. It channels millions of $$ to office of Quartermaster General of the army 😲

https://twitter.com/JusticeMyanmar/status/1364873047967203329

ETC channels their biz through shell companies, with additional investment flowing from 4 biz incorporated in the British Virgin Islands and whose ownership is hidden. Golden City is ETC’s sole real estate development 1/

Golden Land Real Estate Development, & Nature Link Co. Ltd., the Myanmar-based project partners of ETC, signed a lease agreement w/ Quartermaster General’s office in 2013, back when military's Union Solidarity and Development Party (USDP) governed the country 2/

Quick fact 💡Nature Link is part of Jewellery Luck, a crony-owned biz that develop real estate, operate hotels and have mining and forestry interests 3/

According to ETC’s 2017 annual report, the Golden City deal with the military involves a “land use premium” payment of US$6.3 million, plus annual payments of US$2.8 million, with exemptions on lease payments from 2013-16 👉🏽ow.ly/OygV50DJF56 4/

The total in payments to the military over the maximum 70-year terms amounts to US$191.1 million 💸😲

As of Dec 2019, ETC had accrued US$32.185 million for land lease payments to the #Myanmar army 💰5/

Golden City’s institutional shareholders incl. Phillip Securities Pte Ltd, CGS-CIMB Securities (Singapore) Pte Ltd, Maybank Kim Eng Securities Pte. Ltd, ABN Amro Clearing Bank N.V., DBS Nominees Pte Ltd, Citibank Nominees Singapore Pte Ltd and OCBC Securities Private Ltd 6/

In Jan this year, ETC announced a proposed placement of 1.33 billion new shares, w/ over half to be sold to HK-based HS Global Group Ltd, owned by Dalian Hesheng, which also has subsidiaries in the dev & supply of military & police vehicles. Huge increase in ETC's market cap 7/

Since #Myanmarmilitarycoup, arbitrary arrests, violence, internet restrictions cont. Military’s conduct is enabled by their biz interests, from deals like Golden City, which provides a steady flow of unrestricted revenue. This = incentive for military to hold onto power 8/

It is imperative that there is immediate, comprehensive and targeted action against the #Myanmar military and their business interests, incl against ETC. SGX must suspend ETC from trading. #WhatsHappeningInMyanmar #myanmarmilitarycoup #Myanmarcoup #bizhumanrights 9/

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More from @JusticeMyanmar

Justice For Myanmar

@JusticeMyanmar

25 Feb

In upmarket Yankin Tsp in #Yangon #Myanmar sits Golden City complex. Behind veneer of gaudy gold-patterned buildings, there is a bloody fact: it channels $millions to the Army Quartermaster General's office, which buys weapons used to commit #WarCrimes & #CrimesAgainstHumanity 👇🏽

The buildings in Golden City complex are home to powerful Chinese multinational corporations, incl. CITIC, China Railway Construction Corp, Bank of China, China State Construction Engineering & China International Telecommunication Construction Corporation. 1/

@Huawei

The building hosts a giant “Huawei” sign, celebrating the Golden City’s biggest Chinese tenant. The development boasts 221 luxury apartments, of which 147 are leased to @Huawei 2/

Read 8 tweets

Justice For Myanmar

@JusticeMyanmar

15 Feb

As ppl peacefully protest in front of Central Bank of #Myanmar, urging employees to join #CivildisobenienceMovement, here's ways to prevent generals from gaining access to country’s foreign assets & using int banking system to maintain their violent rule 👉🏼ow.ly/9vNB50DAdQD

We call on int. community & biz to immediately take the following 4 actions:

1️⃣Locate & freeze #Myanmar’s billions of dollars in foreign reserves so they cannot be embezzled by generals or siphoned off to bankroll their brutal regime #Myanmarcoup #CivilDisobdienceMovement
👇🏽

2️⃣Suspend all business with military-controlled banks in Myanmar. This also means ensuring these banks cannot continue to use the SWIFT communication network #Feb15Coup #CivilDisobedienceMovementMyanmar #Myanmarcoup
👇🏽

Read 5 tweets

Justice For Myanmar

@JusticeMyanmar

14 Feb

@Telenor_mm

Is #Myanmar military using @Telenor_mm to spy on activists? In a @bistandsaktuelt investigation, Telenor refused to answer questions on whether the military has access to user data. See the story in Norwegian 👉 ow.ly/NOLQ50DzRqn 1/ #CivilDisobedienceMovement #keepiton #CDN

@TelenorGroup

.@TelenorGroup refused to answer questions on whether the company will even disclose if they receive a directive or a request from #Myanmar authorities for access to user data. This puts #CivilDisobedienceMovement activists + journalists at risk, whose lives are on the line 2/

B4 #MyanmarCoup in Dec, #Telenor disclosed "the gov intends to be able to directly access each operator and ISP’s systems w/o case-by-case approval." They warned of "misuse & breach of customers’ human rights". Why are they not being transparent now? 👉ow.ly/jHiP50DzRE4 3/

Read 6 tweets

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