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Singapore magnate to axe navy-linked Myanmar tobacco funding

Singapore magnate to axe navy-linked Myanmar tobacco funding

Latest
SINGAPORE (Reuters) - A necessary Singapore businessman has acknowledged he'll exit his funding in a tobacco firm linked to the Myanmar military, after the navy deposed the nation’s democratically elected government in a coup final week.Lim Kaling, co-founder and director of Hong Kong-listed gaming community Razer, acknowledged in a assertion on Tuesday he became a minority shareholder in Virginia Tobacco Company thru RMH Singapore Pte Ltd, which owns 49% of the Myanmar firm.The comfort of Virginia Tobacco is owned by Myanmar Economic Holdings Restricted (MEHL), one in every of two conglomerates slip by the nation’s military, in accordance with a 2019 United Nations document.“Most contemporary events there (in Myanmar) motive me grave arena,” Lim acknowledged in the emailed assertion, whi...
Singapore magnate to axe military-linked Myanmar tobacco investment

Singapore magnate to axe military-linked Myanmar tobacco investment

Latest
SINGAPORE (Reuters) - A prominent Singapore businessman has acknowledged he'll exit his investment in a tobacco firm linked to the Myanmar defense force, after the military deposed the country’s democratically elected executive in a coup final week.Lim Kaling, co-founder and director of Hong Kong-listed gaming community Razer, acknowledged in a observation on Tuesday he was a minority shareholder in Virginia Tobacco Company by means of RMH Singapore Pte Ltd, which owns 49% of the Myanmar firm.The the leisure of Virginia Tobacco is owned by Myanmar Financial Holdings Restricted (MEHL), surely one of two conglomerates bustle by the country’s defense force, in accordance with a 2019 United Worldwide locations picture.“Recent events there (in Myanmar) reason me grave receive 22 situation,” Li...