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View Diary: Internment Camps Reported in Rangoon, Burma (47 comments)

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  •  Singapore - Where The Junta's stash their money (2+ / 0-)
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    jlynne, koNko

    Singapore’s stronger reaction could be interpreted as acute embarrassment over its close relationship with the Burmese regime, a target of worldwide condemnation. Apart from arms deliveries in 1988 and most likely also later, Singapore has trained Burmese intelligence officers in cyber warfare and even helped establish a cyber-warfare center in Rangoon, which monitors the activities of dissidents in the country and in exile.

    Perhaps more importantly, Singapore is the banking center of choice for Burma’s generals and their business cronies. Most have Singapore bank accounts, as does the powerful 43-year-old tycoon Tay Za, who is close to junta leader Than and his family. Tay’s Htoo Trading Company was one of two main contractors that built Burma’s new administrative capital, Naypyidaw. The other was the Asia World Group, headed by Tun Myint Naing, or Steven Law, son of Lo Hsing-han, who, in the 1970s, was branded by US authorities as the King of Opium in Burma’s sector of the Golden Triangle. Both Tay and Law are frequent visitors to Singapore, and Than himself goes there for medical treatment.

    Htoo Trading reportedly "shut down" operations in late September, but some observers suggest that the company will simply adopt a new name to dodge a September 27 US Department of Treasury order, prohibiting US citizens from doing business with Burma’s notorious elite. Burma’s elite and the Singapore banks have reason to be nervous, if their accounts come under greater scrutiny by the Department of Treasury. US sanctions against a Macau bank in September 2005 for dealings with North Korea caused near-collapse of that bank.

    Use Tor and PGP on the net. (google it)

    by fugue on Sat Oct 06, 2007 at 06:33:50 AM PDT

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