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.
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

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.

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