Saturday Read: Investors are fleeing Myanmar as coup grows more deadly
38 people were killed by military at pro-democracy protests on Wednesday alone, in the bloodiest day since the coup began. (Getty Images)
The world’s largest sovereign wealth fund, the Norwegian central bank, has put Japanese Kirin Holdings on a watch list for possible exclusion due to its ties to Myanmar’s military, in light of the recent coup and ongoing unrest in the country.
The Japanese beverage group Kirin has a partnership and $1.7bn controlling stake in Myanmar Economic Holdings Public Company Limited, a company run by Myanmar’s army.
Business & Human Rights Resource Centre
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Myanmar: Investors, businesses and global retail brands release statements urging for respect for human rights and democracy in the country
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JCCM expresses its commitment to making every efforts possible to support the people of Myanmar in achieving happiness and democracy in Myanmar.
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Buyers release a statement urging business to exercise enhanced due diligence and supply chain monitoring; identify whether they are doing business, directly or indirectly, with companies that are known to be owned or controlled by the Myanmar military; honour all existing commitments made to factories ensure workers are paid; and to maintain an dialogue with worker representatives in resolving differences.