More Trouble Brewing for Mandalay Beer

Description: 

"The Burmese junta is suing Win Win Nu, the former operator of Mandalay Beer, for scaring off investors... Burmese businesswoman Win Win Nu has fallen afoul of Burma?s ruling military government for the second time. Recently, the Burmese generals have been blaming her for the country?s decline in foreign investments, claiming that she gave false information to foreign media. In order to cover up their illegal take-over of her company, the generals have opened a lawsuit against her on three counts for compensation of US $74.3 million and 94.6 million Burmese kyat at Rangoon Divisional Court. Once again, the Burmese generals, who are seeking to attract foreign investment into the country?s paralyzed economy, have shot themselves in the foot. In the eyes of foreign investors, some of whom are wary of entering Burma?s so-called open market, this is just another reason to stay away..."

Creator/author: 

Maung Maung Oo

Source/publisher: 

"The Irrawaddy", Vol. 9, No. 9

Date of Publication: 

2001-12-00

Date of entry: 

2003-06-03

Grouping: 

  • Individual Documents

Category: 

Language: 

English

Format: 

Size: