Oct 22, 2007 (AFP), The implications of US sanctions against three companies in Singapore are not clear, Singapore’s Ministry of Foreign Affairs said late Monday.
"MFA has just been formally informed by the US embassy in Singapore of the stated sanctions today, which affect three companies in Singapore that are linked to a Myanmar national, Tay Za," it said in a statement.
"The implications of these US sanctions are still not entirely clear. We are studying them and will also seek further clarification from the US if necessary."
The three firms with offices in Singapore are among seven named by President George W. Bush under sanctions designed to target organisations with ties to Myanmar’s ruling junta. They aim to pile more pressure on the regime after its deadly suppression of pro-democracy protests last month.
According to Bush’s order issued Friday, the companies which are either based in or linked to Singapore are: Pavo Trading Pte Ltd, Air Bagan Holdings Pte Ltd and Htoo Wood Products Pte Ltd, which is also listed as being from Myanmar’s main city, Yangon.
Observers of Myanmar say Tay Za, the tycoon behind the three Singapore-linked firms, is a charismatic close associate of the ruling Myanmar junta.