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CLSA gives Outperform rating for Adani Ports despite the Yangon container terminal controversy

CLSA gives ‘Outperform’ rating for Adani Ports despite the Yangon container terminal controversy Brokerage firm CLSA has an ‘Outperform’ rating for Adani Ports. As per the brokerage, because of the Yangon container terminal (YCT) controversy the company has got reputational risks, such as its removal from the Dow Jones sustainability indices (DJSI) and Environmental, Social and Governance (ESG) funds. It has set a price target of Rs 770 for the stock. The brokerage note mentions that the “investor attention shall increase on companies involved in Myanmar such as Adani Ports following the coup by the army and human rights violations.” The firm has invested $133 million in a Yangon container terminal (YCT) land for which was supposed to have been leased from the Myanmar Economic Corporation (MEC). MEC, as per the UN, has links to the military, and activists believe that such funding strengthens the military’s autonomy.

EXCLUSIVE EU agrees to sanction two companies close to Myanmar military, diplomats say

Asia PacificEXCLUSIVE EU agrees to sanction two companies close to Myanmar military, diplomats say John IrishRobin Emmott 4 minutes read The European Union has agreed to impose sanctions on another 10 individuals linked to the Feb. 1 coup in Myanmar and to target two businesses run by the armed forces for the first time in protest at the military takeover, two diplomats said. The measures, which the diplomats said could take effect next week, would target two companies that generate revenue for the Myanmar Armed Forces. Reuters first reported preparations for the measures on March 8. read more While the EU has an arms embargo on Myanmar and targeted 11 senior military officials last month, the decision to target two companies is the most significant response so far for the bloc since the coup that ousted an elected government led by Nobel peace laureate Aung San Suu Kyi.


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