Myanmar coup: Singapore businesses keeping eye on situation

A closed cosmetics booth in a shopping centre in Yangon on Feb 1, 2021, after Myanmar's military seized power in a coup. PHOTO: AFP
New: Gift this subscriber-only story to your friends and family

SINGAPORE - The military takeover with the imposition of a year-long state of emergency in Myanmar has created uncertainties for Singapore-linked businesses there. Most are adopting a wait-and-see approach to the political developments and possible threat of sanctions by other nations.

Singapore has been the largest foreign investor in Myanmar in recent years, beating China with a cumulative investment of over US$20 billion (S$26.7 billion) as of 2020, according to Myanmar's Directorate of Investment and Company Administration.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.