Myanmar Junta Stashed Gas Profits In 2 S'pore Banks
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http://www.irrawaddy.org/article.php?art_id=16762&page=2
The Irrawaddy, 10 Sep 2009
Junta Gas Profits Stashed in Singapore Banks: ERI
At a Bangkok press conference on Thursday, Earthrights International (ERI) launched two reports alleging that oil giants Total and Chevron are linked to “forced labor, killings, high-level corruption and authoritarianism” in Burma.
The reports, titled “Total Impact” and “Getting it Wrong,” examine how revenue from the Yadana gas project sustains military rule in Burma and undermines Western sanctions.
The NGO also said that two Singapore-based banks—Overseas Chinese Banking Corporation (OCBC) and DBS Group—function as “offshore repositories” for junta revenues accruing from the Yadana gas project.
Security guards gesture to photographers to stop taking photos of the DBS Group bank in Singapore in April. The bank is accused of laundering the Burmese junta’s siphoned gas profits. (Photo: Reuters)
The report said that Burma’s ruling State Peace and Development Council has earned almost US $5 billion from the gas pipeline project.
By using an outdated exchange rate, the junta declares a fraction of the revenues to the State budget, enabling it to siphon the rest off. The junta calculates revenue at just 6 kyat to the dollar when the de facto rate is closer to 1,000.
According to a confidential International Monetary Fund (IMF) report obtained by ERI, revenue "contributed less than 1 percent of total budget revenue in 2007/08, but would have contributed about 57 percent if valued at the market exchange rate."
The report says these rates allow the regime to list a mere $29 million of the Yadana earnings, leaving around $4.8 billion unaccounted for, which ERI believes to be lodged in the Singapore banks.
ERI’s Matthew Smith said that the information about offshore accounts in Singapore comes “from confidential and reliable sources,” but could not go into more detail.
“We expect the Singapore government and banks to do the right thing based on Singaporean law relating to money laundering, which prohibits any such transactions and requires banks to report these,” he added.
According to Smith, the two banks were informed in writing during the past week about the content of the reports, but ERI has yet to receive a response.
ERI is an environmental NGO based in the US, but was founded by Ka Hsaw Wa, an ethnic Karen and former Burmese student activist in exile since his involvement in the 1988 demonstrations against military rule.
ERI says that Total, Chevron and the Petroleum Authority of Thailand Export and Production (PTTEP)—the other non-Burmese company involved in Yadana—have earned a combined $1.3 billion since commercial production started in 2000.
The gas is piped into Thailand where it generates electricity for the Bangkok area, and in total makes up 60 percent of Burma's gas exports to Thailand. Total has been a major investor in the Yadana project since 1992, holding a 31.24 percent stake, with Chevron on 28 percent.
In a recent Newsweek interview, Total CEO Christophe de Margerie said that critics of the company's operations in Burma can “go to hell,” adding that the gas imports into Thailand have helped reduce air pollution in Bangkok.
In a June 26 letter to ERI published in the “Total Impact” report, Vice-President Jean-Francois Lasalle refused to answer a number of questions sent to Total by ERI. According to the letter, this was because ERI “presents allegations as facts,” and is “more interested in harassing our companies, in line with a divestment agenda, than in a real dialogue about how to improve people's lives.”
Total has cited its socioeconomic work in the pipeline area, and the “overall improvement in living conditions for the 50,000 people” who live in the pipeline area. Total refers ERI to a report by US-based CDA Collaborative Learning Projects, which gave the findings of a 20-day impact assessment of the oil company's operations related to the Yadana project.
However, the positive CDA report was dismissed as a whitewash by ERI, with report author Naing Htoo saying CDA’s methodology was deeply flawed, given that CDA lacked autonomy after being hired by Total to do the impact assessment.
ERI accuses Total and Chevron of complicity in human rights abuses throughout the history of the project.
While the oil companies claim abuses have ceased, Naing Htoo says that this is “simply untrue.”
The authors quote locals living in the pipeline area, and the report’s authors say that “forced labor, killings and other abuses are being committed by Total and Chevron's security forces while the companies mislead and lie to the international community about their impacts.”
ERI said it believes that the impact of the CDA assessments is troubling, as these could be taken at face value by other oil companies and policymakers, in turn potentially having an impact on the issue of sanctions and engagement with the Burmese junta, based on false or flawed premises.
ERI said that the gas revenue windfall insulates the country's military rulers from the impact of international sanctions, which were tightened after the August 11 verdict returning Aung San Suu Kyi to house arrest.
Total and Chevron have operations in Burma that pre-date the introduction of US and EU sanctions, so are not bound by those. In any case, EU sanctions against Burma currently only cover arms exports, wood, minerals, gems and metals, thereby exempting Total.
Elf, a former French oil company now part of Total, was complicit in numerous corruption scandals involving shady deals with African petro-states, before three senior Elf executives were jailed and the company merged with Total.
“As long as the regime has access to such vast revenue it has little incentive to reform or change,” Smith said. “The elites are hiding billions of dollars of the people's revenue in Singapore, while the country needlessly suffers under the lowest social spending in Asia.”
As well as long-standing rumors about Burma’s resource revenue being stashed in Singapore, the ill-gotten gains of elites in North Korea and Zimbabwe are also thought to be held in the city-state.
US financial giant Merrill Lynch estimates a third of Singapore's 60,000-odd millionaires are Indonesian, whereby Jakarta's wealthy beneficiaries of corruption and cronyism have moved their holdings away from the anti-corruption efforts undertaken by President Yudhoyono.
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Looks like Andy Xie of Morgan Stanley is vindicated...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aK7UIXigIxjM
``Actually, Singapore's success came mostly from being the money laundering center for corrupt Indonesian businessmen and government officials,'' Xie, who was based in Hong Kong before leaving Morgan Stanley on Sept. 29, wrote in the e-mail.
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News reports you will NEVER find in PAP government controlled state media:
Morgan Stanley's Xie Quit After Singapore E-Mail
Oct. 5 (Bloomberg) -- Andy Xie's resignation as Morgan Stanley's chief economist in Asia last week followed an e-mail in which he characterized Singapore as an economic failure dependent on illicit money from Indonesia and China.
Xie, who worked at Morgan Stanley for nine years, sent the e-mail to his colleagues after attending the International Monetary Fund and World Bank annual meetings last month in the Southeast Asian island state. The 46-year-old Shanghai-born economist questioned why Singapore was chosen to host the conference, and said delegates ``were competing with each other to praise Singapore as the success story of globalization.''
``Actually, Singapore's success came mostly from being the money laundering center for corrupt Indonesian businessmen and government officials,'' Xie, who was based in Hong Kong before leaving Morgan Stanley on Sept. 29, wrote in the e-mail. ``Indonesia has no money. So Singapore isn't doing well.''
Singapore's $118 billion economy is recovering from three recessions since the 1997 Asian financial crisis, and is expecting growth of as much as 7.5 percent this year. The city- state is grappling with growing competition from China and India, two of the world's most populous nations, where labor costs are less than a quarter of those in Singapore.
Mountain Summit
Officials from the public-relations departments of the Monetary Authority of Singapore and the government's information service declined to comment on the contents of the e-mail. They also declined to be identified.
Xie declined to comment on his departure when contacted on his mobile phone on Oct. 2 and said he hasn't decided what he will do next.
``I'm not at liberty to comment on anything,'' said Xie, who holds a doctorate in economics and a master's degree in civil engineering from the Massachusetts Institute of Technology in Cambridge, Massachusetts. ``I'm in Guangzhou and I'm taking a break on top of a mountain. It's quite nice here.''
Xie, who said in September that the U.S. economy may fall into a recession in 2008, worked at the corporate-finance division at Macquarie Bank in Singapore before joining Morgan Stanley in 1997. He earlier spent five years as an economist with the World Bank, overseeing the bank's programs in Indonesia and other countries in the Asia-Pacific region, according to the New York-based firm's Web site.
`Corruption Money'
The Singapore government, which is ending a four-decade ban on casinos, plans to triple tourism revenue to $19 billion and double visitors to 17 million by 2015.
Prime Minister Lee Hsien Loong said in September that Singapore's economy may sustain annual growth of 3 percent to 5 percent for the next 10 years to 15 years as the country expands industries ranging from information technology to tourism.
``To sustain its economy, Singapore is building casinos to attract corruption money from China,'' said Xie, who ranked No. 2 among regional economists in a 2003 Asiamoney magazine survey.
Morgan Stanley confirmed the contents of the e-mail and said the New York-based firm doesn't elaborate on the reasons behind employee departures.
``This is an internal e-mail based on personal suppositions and aimed at stimulating internal debate amongst a small group of intended recipients,'' said Cheung Po-ling, a Hong Kong-based spokeswoman for the world's largest securities firm by market value, in a written statement. ``The e-mail expresses the views of one individual and does not in any way represent the views of the firm.
``Morgan Stanley has been a very strong supporter of Singapore and has a great deal of respect for Singapore's achievements,'' Cheung said.
Morgan Stanley Deals
In the U.S., Wall Street analysts have lost their jobs for recommending shares of companies that they privately disparaged. Citigroup Inc., Merrill Lynch & Co. and eight rival securities firms agreed in 2003 to pay $1.4 billion to settle charges that analysts published misleading stock research in a bid to win investment-banking business.
Morgan Stanley ranks sixth among merger advisers in Singapore this year, handling $1.5 billion of deals, according to data compiled by Bloomberg. It advised Temasek Holdings Pte., the Singapore government's investment company, in the purchase of a 9.9 percent stake in Mumbai-based Tata Teleservices Ltd. Morgan Stanley, the No. 3 arranger of stock sales in Asia outside Japan, hasn't underwritten a Singapore deal this year, Bloomberg data show.
`Strange Choice'
``I tried to find out why Singapore was chosen to host the conference,'' Xie wrote in the e-mail. ``Nobody knew. Some said that probably no one else wanted it. Some guessed that Singapore did a good selling job. I thought it was a strange choice because Singapore was so far from any action or the hot topic of China and India. Mumbai or Shanghai would be a lot more appropriate.''
At a dinner party hosted by Singapore Prime Minister Lee Hsien Loong, ``people fawned him like a prince,'' Xie wrote. ``These Western people didn't know what they were talking about,'' he wrote, describing the praise for Singapore as ``nauseating pleasantries.''
http://www.bloomberg.com/apps/news?pid=20601087&sid=aK7UIXigIxjM
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http://www.bloomberg.com/apps/news?pid=20601087&sid=aK7UIXigIxjM&refer=home
your link spoil
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Originally posted by angel3070:
News reports you will NEVER find in PAP government controlled state media:
Morgan Stanley's Xie Quit After Singapore E-Mail
Oct. 5 (Bloomberg) -- Andy Xie's resignation as Morgan Stanley's chief economist in Asia last week followed an e-mail in which he characterized Singapore as an economic failure dependent on illicit money from Indonesia and China.
Xie, who worked at Morgan Stanley for nine years, sent the e-mail to his colleagues after attending the International Monetary Fund and World Bank annual meetings last month in the Southeast Asian island state. The 46-year-old Shanghai-born economist questioned why Singapore was chosen to host the conference, and said delegates ``were competing with each other to praise Singapore as the success story of globalization.''
``Actually, Singapore's success came mostly from being the money laundering center for corrupt Indonesian businessmen and government officials,'' Xie, who was based in Hong Kong before leaving Morgan Stanley on Sept. 29, wrote in the e-mail. ``Indonesia has no money. So Singapore isn't doing well.''
Singapore's $118 billion economy is recovering from three recessions since the 1997 Asian financial crisis, and is expecting growth of as much as 7.5 percent this year. The city- state is grappling with growing competition from China and India, two of the world's most populous nations, where labor costs are less than a quarter of those in Singapore.
Mountain Summit
Officials from the public-relations departments of the Monetary Authority of Singapore and the government's information service declined to comment on the contents of the e-mail. They also declined to be identified.
Xie declined to comment on his departure when contacted on his mobile phone on Oct. 2 and said he hasn't decided what he will do next.
``I'm not at liberty to comment on anything,'' said Xie, who holds a doctorate in economics and a master's degree in civil engineering from the Massachusetts Institute of Technology in Cambridge, Massachusetts. ``I'm in Guangzhou and I'm taking a break on top of a mountain. It's quite nice here.''
Xie, who said in September that the U.S. economy may fall into a recession in 2008, worked at the corporate-finance division at Macquarie Bank in Singapore before joining Morgan Stanley in 1997. He earlier spent five years as an economist with the World Bank, overseeing the bank's programs in Indonesia and other countries in the Asia-Pacific region, according to the New York-based firm's Web site.
`Corruption Money'
The Singapore government, which is ending a four-decade ban on casinos, plans to triple tourism revenue to $19 billion and double visitors to 17 million by 2015.
Prime Minister Lee Hsien Loong said in September that Singapore's economy may sustain annual growth of 3 percent to 5 percent for the next 10 years to 15 years as the country expands industries ranging from information technology to tourism.
``To sustain its economy, Singapore is building casinos to attract corruption money from China,'' said Xie, who ranked No. 2 among regional economists in a 2003 Asiamoney magazine survey.
Morgan Stanley confirmed the contents of the e-mail and said the New York-based firm doesn't elaborate on the reasons behind employee departures.
``This is an internal e-mail based on personal suppositions and aimed at stimulating internal debate amongst a small group of intended recipients,'' said Cheung Po-ling, a Hong Kong-based spokeswoman for the world's largest securities firm by market value, in a written statement. ``The e-mail expresses the views of one individual and does not in any way represent the views of the firm.
``Morgan Stanley has been a very strong supporter of Singapore and has a great deal of respect for Singapore's achievements,'' Cheung said.
Morgan Stanley Deals
In the U.S., Wall Street analysts have lost their jobs for recommending shares of companies that they privately disparaged. Citigroup Inc., Merrill Lynch & Co. and eight rival securities firms agreed in 2003 to pay $1.4 billion to settle charges that analysts published misleading stock research in a bid to win investment-banking business.
Morgan Stanley ranks sixth among merger advisers in Singapore this year, handling $1.5 billion of deals, according to data compiled by Bloomberg. It advised Temasek Holdings Pte., the Singapore government's investment company, in the purchase of a 9.9 percent stake in Mumbai-based Tata Teleservices Ltd. Morgan Stanley, the No. 3 arranger of stock sales in Asia outside Japan, hasn't underwritten a Singapore deal this year, Bloomberg data show.
`Strange Choice'
``I tried to find out why Singapore was chosen to host the conference,'' Xie wrote in the e-mail. ``Nobody knew. Some said that probably no one else wanted it. Some guessed that Singapore did a good selling job. I thought it was a strange choice because Singapore was so far from any action or the hot topic of China and India. Mumbai or Shanghai would be a lot more appropriate.''
At a dinner party hosted by Singapore Prime Minister Lee Hsien Loong, ``people fawned him like a prince,'' Xie wrote. ``These Western people didn't know what they were talking about,'' he wrote, describing the praise for Singapore as ``nauseating pleasantries.''
http://www.bloomberg.com/apps/news?pid=20601087&sid=aK7UIXigIxjM
Strange that a supposedly high ranking economist would single out Singapore as a money laundering centre.
Is money laundering only happening in Singapore alone, out of the numerous countries that made up the world?
Utter stupidity too, for one so highly lauded economist, to charge that Singapore and its success story, based on the hardwork of our forefathers, you and I, gets its revenue from corrupt indonesians and govt officials.
So other nations are pure and clean, for example, the swiss banks, european markets, and the rich american financial centres as well?
Are we a communist police state, that determines who gets to bank in Singapore, or a democratic state with an open economy that welcomes anyone whom wishes to park their money here, so long as they had not been charged or declared fugitives by their own country?
Is Singapore the ONLY country in the world building casinos? And the chinese will only flock to our country to gamble?
So USA (251 casinos), Europe (29 casinos), Africa ( 7 casinos), Asia (7 casinos), are innocent, not attracting tourists or ban tourists, with only their citizens allowed t playing 5cts tikam tikam inside?
And he is ranked a no 2 economist in the region? Who were the guys in the AsiaMoney rag that ranked him? Village idiots?
Questions, questions, that will remain unanswered.
C'mon, fessed up! Who amongst us citizens had offended this petty little china guy while he was in Singapore? Or was it DBS bank whom rejected his job application so he had an axe to grind, and Singapore, being only a small red dot, is good to bully?
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Even if its true, if Singapore rejected their $, the junta would just find another country to launder it. Who loses? Us
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Originally posted by dadeadman1337:
Even if its true, if Singapore rejected their $, the junta would just find another country to launder it. Who loses? Us
So we should support crime? Don't rob from this guy, others might rob, might as well I be the one to rob?
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Originally posted by angel3070:
So we should support crime? Don't rob from this guy, others might rob, might as well I be the one to rob?
This kind of crime is no choice, its a dictatorship anyway. Robbery may or may not happen, cannot use to compare
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Originally posted by angel3070:
So we should support crime? Don't rob from this guy, others might rob, might as well I be the one to rob?
Banks are robbers? So when you place deposits, you are supporting crime????
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Originally posted by xtreyier:
Banks are robbers?
They can be used to hide dirty money stolen from public funds.
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Originally posted by angel3070:
They can be used to hide dirty money stolen from public funds.
Do banks ever ask you where your money come from when you deposit funds?
Or are you suggesting free enterprises be interferfered and controlled by govts?
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If I'm not wrong the americans mentioned that before about dirty money laundering in Singapore some time ago and of course SG government rebuted it. Now they are threatening swiss banks with sanctions unless they release the names of those tax evaders. It's the end of banking secrecy I guess. Maybe in the future the americans may come after Singapore too?
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Originally posted by xtreyier:
Or are you suggesting free enterprises be interferfered and controlled by govts?
All enterprises must be regulated by government to prevent abuse of power and corruption.
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So who is right, and who is wrong,
SINGAPORE (AFP) - - Two Singapore banks have rejected a report by a US-based rights group that said Myanmar's ruling junta deposited billions of dollars with them.
ADVERTISEMENT
DBS Group Holdings and Oversea-Chinese Banking Corp (OCBC) said in separate statements late Thursday that there was no truth in the report by EarthRights International (ERI).
"ERI's report is categorically untrue and without basis," a DBS spokesperson said in the brief statement.
A spokesperson from OCBC also rejected the report.
EarthRights International had said in a report released Thursday that energy giants Total and Chevron were propping up the Myanmar military regime with a gas project that allowed the junta to stash almost five billion US dollars in the two Singaporean banks.
The report said the junta had kept the revenues earned from the project off the national budget and stashed almost all of the money offshore with DBS and OCBC.
"Total and Chevron's Yadana gas project has generated 4.83 billion dollars for the Burmese regime," one of the reports said, adding that the figures for the period 2000-2008 were the first ever detailed account of the revenues.
"The military elite are hiding billions of dollars of the peoples' revenue in Singapore while the country needlessly suffers under the lowest social spending in Asia," said Matthew Smith, a principal author of the report.
French energy giant Total has also rejected the report, saying the document was riddled with errors and false interpretations.
Go eat my Changi nasi lemak better.
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Does not matter who is right.
The rule of the game here is anyhow accuse first.
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Well, at the end of the day, it is another news for journalist and papers to earn more bucks, otherwise, nothing to talk/report about..nothing is true until until state times say so ya.
Make Cuppacino
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Originally posted by angel3070:
All enterprises must be regulated by government to prevent abuse of power and corruption.
Regulation is fine.
There are anti money laundering laws in Singapore. Banks do have a duty to report to the authorities on suspicious transactions, as well as lawyers acting on behalf of their clients must equally do so.
I am sure if a drug lord such as Pablo Escobar stupidly attempts to place his drug money here under his name, it would be rejected. But in reality, the deposits would be made using smurfing techniques and under an army of smurfers.( eg $6000 daily at different branches to avoid suspicion)
It is not as easy to detect as many presume. The ones who are corrupt are not stupid people, and find it easy to hide within many layers, and under legal ones, more so when they have that much money.
We are ruled by law, thus even though we know corrupted foreign officials may be depositing their ill gains here, we cannot simply arrest them or stop their transactions without clear evidence.
Outlaws may claim otherwise, for they believe they are magicians and their words alone is evidence, but we are a democratic state. Till dictatorial outlaws rule, the current rule of law applies.
And if anyone has any clear evidences of money laundering, please do not hesitate to contact our authorities. They most certainly will appreciate your help, but please, not base on rumours please. There is only so much bureacrats our country can afford.
Furthermore, MAS has a more busy time and critical form of money laundering to tackle now, and it is terrorist fundings. Such fundings are the real threat to us, a clear and present danger that needs most attention.
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Originally posted by xtreyier:
Strange that a supposedly high ranking economist would single out Singapore as a money laundering centre.
Is money laundering only happening in Singapore alone, out of the numerous countries that made up the world?
Utter stupidity too, for one so highly lauded economist, to charge that Singapore and its success story, based on the hardwork of our forefathers, you and I, gets its revenue from corrupt indonesians and govt officials.
So other nations are pure and clean, for example, the swiss banks, european markets, and the rich american financial centres as well?
Are we a communist police state, that determines who gets to bank in Singapore, or a democratic state with an open economy that welcomes anyone whom wishes to park their money here, so long as they had not been charged or declared fugitives by their own country?
Is Singapore the ONLY country in the world building casinos? And the chinese will only flock to our country to gamble?
So USA (251 casinos), Europe (29 casinos), Africa ( 7 casinos), Asia (7 casinos), are innocent, not attracting tourists or ban tourists, with only their citizens allowed t playing 5cts tikam tikam inside?
And he is ranked a no 2 economist in the region? Who were the guys in the AsiaMoney rag that ranked him? Village idiots?
Questions, questions, that will remain unanswered.
C'mon, fessed up! Who amongst us citizens had offended this petty little china guy while he was in Singapore? Or was it DBS bank whom rejected his job application so he had an axe to grind, and Singapore, being only a small red dot, is good to bully?
I think the both Myanmar military junta and Indoneisan chinese are two seperate issues totally. The relationship with the military junta probably overshadow the Indo chinese issued. Outsiders will not fully comprehend the nature of the latter.
I personnally think they are both different issues, but in the eye of the Law it does not discriminate.
Although there are Geo political interest in Myanmar as a region, But SG govt had not explain itself clearly its moral position with the Junta and continuing direct contact. Even after the buddish monk crack down. And it is seemed soly on the Economics interest with Myanmar military junta at all cost.
Unfornately at the end of the day it is still Singaporean greed that held it up. I supposed they said Sheep coats grow from sheep. Our judicial systems are not independent enough to monitor violation of UN sanction. Thanks to the patriarch politics in SG.
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Originally posted by xtreyier:
Strange that a supposedly high ranking economist would single out Singapore as a money laundering centre.
Is money laundering only happening in Singapore alone, out of the numerous countries that made up the world?
Utter stupidity too, for one so highly lauded economist, to charge that Singapore and its success story, based on the hardwork of our forefathers, you and I, gets its revenue from corrupt indonesians and govt officials.
So other nations are pure and clean, for example, the swiss banks, european markets, and the rich american financial centres as well?
Are we a communist police state, that determines who gets to bank in Singapore, or a democratic state with an open economy that welcomes anyone whom wishes to park their money here, so long as they had not been charged or declared fugitives by their own country?
Is Singapore the ONLY country in the world building casinos? And the chinese will only flock to our country to gamble?
So USA (251 casinos), Europe (29 casinos), Africa ( 7 casinos), Asia (7 casinos), are innocent, not attracting tourists or ban tourists, with only their citizens allowed t playing 5cts tikam tikam inside?
And he is ranked a no 2 economist in the region? Who were the guys in the AsiaMoney rag that ranked him? Village idiots?
Questions, questions, that will remain unanswered.
C'mon, fessed up! Who amongst us citizens had offended this petty little china guy while he was in Singapore? Or was it DBS bank whom rejected his job application so he had an axe to grind, and Singapore, being only a small red dot, is good to bully?
Stupid Kid!
Tell me u are not a singaporean. -
the banks rejected the report.
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Originally posted by Arapahoe:
I think the both Myanmar military junta and Indoneisan chinese are two seperate issues totally. The relationship with the military junta probably overshadow the Indo chinese issued. Outsiders will not fully comprehend the nature of the latter.
I personnally think they are both different issues, but in the eye of the Law it does not discriminate.
Although there are Geo political interest in Myanmar as a region, But SG govt had not explain itself clearly its moral position with the Junta and continuing direct contact. Even after the buddish monk crack down. And it is seemed soly on the Economics interest with Myanmar military junta at all cost.
Unfornately at the end of the day it is still Singaporean greed that held it up. I supposed they said Sheep coats grow from sheep. Our judicial systems are not independent enough to monitor violation of UN sanction. Thanks to the patriarch politics in SG.
I dont think it would be fair to label our fellow citizens over the Myanmar issue as greed, nor cast aspersion upon our judiciary. Patriarchial politics or not, whatever one labels it, it had given us peace and prosperity for 3 generations, something not many other nations can even mouth about.
Burma is a sorry state, ruled by an illegal govt whom seize power when lost in an election. Its people repressed and subjugated, even murdered and yet, what did the citizens do, a majority, held in thrall and poverty by just a handful?
The french welded only pitchforks and sticks, yet they managed to overcome the better armed and organised french troops on Bastile Day.
Even as many of us condemn the Junta and shared the sufferings of our fellow humans in Burma, how much can we offer by way of assitance, when democracy cannot be bestowed by others, but only by Burmese themselves?
Iraq, Afghanistan, Iran, and a whole lot of failed states had shown us what a quagmire is when others try to give democracy to a people. Same for Burma today, only to condemn them in our strongest terms possible, pray and hope that there will be a leadership that is strong enough to give liberty, as only the Burmese people of centuries old history, can determined and not the democracy style determined by others.
Singapore had tried engagement with the Junta, in the hope that the authoritarians may be enlightened to a prosperous and peaceful rule, and award full democracy in time, by offering employment opportunities and building a strong middle class for them thru our investments together with Asean states.
But we failed miserably, and was even cheated by them. Our investments portfolios had greatly wound down. What's left is only financial banking assistance, of which we offer to everyone in the world, and discriminates against no one.
Illegal and odious as the Junta and their minions are, they too are human and have medical needs, thus their appearances on our shores. They are not declared fugitives by the UN, only by another country -US. We are a soveriegn state and determine our own actions as bound by the UN charter, and most certainly not bound to the US constitution.
Our policy had been positive engagement, not isolation, or the Junta will become another N.Korea.Those bastards will still listen to Asean, though not everything, better than nothing at least.
Patience is needed for change to happen, and at a pace everyone can accept, otherwise, some will be left behind. This is something all youths must understand, something even for our own shores. A clear example is the rise of internet and home computers which resulted many of our older generation being left out in the market place back in the 90s. Egalitarianism is our only hope, not utilitarianism. Our society's aim is to leave no one behind.
So too will change come to Burma, at a pace all of them can be comfortable with. The least we fellow human beings In Singapore can do is open our banking doors to them, and a secondary purpose would be to keep track of such transactions and deposits, so that should the day come when a final accounting happens in Burma, one way or another, the Burmese people can rest assured that we keep full set of accounts, for the legal entities to collect.
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Mynmar is a country in SE Asia that shows you the full picture of what is dictatorial rule. The Burmese suffered under this rule, and the ever rebel Karen tribe is still fighting even with knife against bullets. By joining Asean, Mynamar open up it gateway but not totally, today a layman leaving mynamar has to seek so much red tapes before he is allow to leave or may not be. All the Asean countries are democratic except Mynamar, the west sanctioned mynamar and urge others to join in, so why Asean still took them in as a Member. Every now and then the west condemned Asean for supporting Mynamar, more so on Singapore, whose economy and social idealogist is mostly aligned with the West. And not only Singapore embraced Mynamar, it is also the first country to allow mynamar's workers and talents to study and work in the Republic. Unofficially, you can see a small minority of them in Malaysia and thailand who are illegal entries.
What is so important in Mynamar that for the past few decades, Singapore have never even bother to associate with them, but changed in the begining of the 21st century. There must be some social economy to gain from Mynamar that Singapore can even afford to tarnish her relationship with the West.
We know that Mynamar has a lots of natural resources, most prominent is the natural gas and stones. Is that what Singapore is after, on the other hand, Mynamar has a big brother who is, in the view of singapore govt, a very very important economy partners of the near future, and that is China.
Asean consitution clauses stated that all Asean Countries are not permit to interfere with each other domestic politcal and state issue unless call upon. Singapore aim on this relationship is mainly on economy purpose, yes, we can be sorry for the people of mynamar, but no interfering is allowed.
I remember my Dad told me that long ago, LKY had spoke about Singpore vision of being like Switzerland of Europe, gracious, neutral, finest banking system, low crimes and fully educated population. The Swiss owns the most secretive banking insitutions in the world, serving without questioning, total respect of customer rights and confidentiality. Deep down those insitution building in Geneva are full of world dictators, politicians, conman, layman, etc etc assets and capitals. I am afraid we are moving in that direction if TS thread news is True.
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The SINGAPORE banks where the money of Myanmar's
authoritarian junta were kept must give this wealth to the
U.N. to be used for good..
The Myanmar generals must not have this money but
this could still be returned to Myanmar's people as humanitarian aid.
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Originally posted by Uncle4edgar:
The SINGAPORE banks where the money of Myanmar's
authoritarian junta were kept must give this wealth to the
U.N. to be used for good..
The Myanmar generals must not have this money but
this could still be returned to Myanmar's people as humanitarian aid.
Uncle, u siao or not?? give UN?? U know who really run the UN or not??? if UN is good and care for the weak, why their office building is in downtown NY with posh restuarants and nightlifes?? -
It seems that in our relentless pursuit for money we are even willing to abet with robbers!