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Over US $ 1 billion, these A share companies have investments in Myanmar! What is the impact of the riots? The last answer is here!
According to CCTV News, from the afternoon to the evening of March 14 local time, more than a dozen factories in various industrial areas of Yangon, Myanmar, suffered fires and were destroyed. Most of the companies involved were companies financed by China or China. Joint ventures in Myanmar. Garment processing factories, garment accessories factories and auxiliary equipment factories mainly.
The Securities Times · e Company reporter immediately contacted listed companies operating in Myanmar.
As of press time,Northern International、Creative information、Jiaxin silkMany other companies told reporters they were not affected.Cathay pacificThe staff member expressed “unclear”.Huafeng shares、Shangrong medicalcould not be reached.
China: very bad by nature
By 9:30 p.m. on the 14th Beijing time, the production workshops, warehouses, dormitories and vehicles of more than 20 factories in Yangon, Myanmar had reportedly been set on fire, some shops along the street as well. They were destroyed, and many factory workers were killed and injured, at least one factory building was occupied by arsonists.
The Chinese Embassy in Myanmar contacted the Myanmar Chinese Business Chamber of Commerce and related companies as soon as possible, and promptly called on the local police to take effective measures to ensure the safety of Chinese-funded companies and personnel. . The embassy also once again issued security reminders for Chinese companies and staff in Myanmar.
The vast majority of companies that have suffered this time are reported to be in the textile and garment industry, and investment by Chinese companies in this field has created nearly 400,000 jobs in Myanmar. The actions of lawbreakers also harm the interests of the Burmese people.
The nature of this crushing, looting, looting and burning incident was very bad. China demands that Myanmar take further effective measures to stop all violent acts, investigate and deal with relevant perpetrators in accordance with the law, and ensure the safety of the lives and property of Chinese companies and personnel in Myanmar.
Many listed companies responded
As one of the China Belt and Road partners, Myanmar has always been an important investment destination for Chinese companies to relocate abroad. According to data from the Myanmar Investment Commission, from 1988 to September 30, 2018, Myanmar has attracted a total of US $ 77.74 billion of foreign investment. Among them, China’s cumulative investment in Myanmar is US $ 20.244 billion, accounting for 26.04% of total foreign investment, ranking first. In the past two years, China has also successively invested and built factories in Myanmar. According to statistics, the cumulative investment has exceeded 170 billion yuan, and the investment amount is second only to Singapore.
Several companies listed on A shares have announced that they will invest in Myanmar, for a total amount of more than US $ 1 billion. The Myanmar incident reportedly mainly affected the textile and clothing industry. The listed companies Jiaxin Silk and Jiangsu Cathay Pacific have announced that they will develop a garment industry base in Myanmar.
Jiaxin Silk is one of the largest silk product production and sales enterprises in China, mainly engaged in the manufacture of silk, silk, garments and other high-end products. Regarding the impact of this incident, the company’s securities department told reporters: “The company’s garment production base in Myanmar has not yet been officially operated due to the earlier impact of the epidemic. Affected by the events in Myanmar “.
The main products include Cathay Pacific Textile Import and Export, Cathay Pacific Garment and Chemical Import and Export Jiangsu Cathay Pacific. It has also previously announced that it will invest in the garment industry core project in Myanmar. The reporter called the Securities Department and was unable to communicate. After calling the office, the staff told reporters: “We don’t know this very well. The Securities Department is already out of work, or you can call back tomorrow.” When the situation in Myanmar became tense in February, the reporter also contacted the company, who at the time said that “it is not appropriate to answer this question at this time and we are still understanding it.” But so far, Jiangsu Cathay Pacific has not issued an announcement on the situation of Myanmar’s clothing business.
Earlier this year, Jiangsu Cathay Pacific issued an announcement stating that the original Cathay Pacific Southeast Asia Textile and Apparel Industry Base project had been partially changed to the Myanmar Garment Industry Base Project. The total investment in the Myanmar Apparel Industry Base project was 150 million yuan, and the total amount invested at the end of January was 140 million yuan. In addition, the company’s investment in Myanmar also includes the Cathay Pacific Myanmar Industrial Park project, the Cathay Pacific Myanmar Industrial Park expansion project, etc. The amounts invested are 140 million yuan and 26,431,400 yuan respectively.
In addition, Northern International, Huafeng Stock, Creative Information and Shangrong Medical have also expressed their plans to invest or develop business in Myanmar.
Northern International, which focuses on international engineering contracting, previously disclosed the operation of its engineering business in the fourth quarter of 2020. It said the company’s major projects include the project’s general procurement and construction project for the Myanmar Monywa Lebitang copper mine, with a contract value of US $ 700 million.
The reporter contacted the company’s securities department, and the staff told him: “The company’s Myanmar office is in Yangon, but it has not been affected at this time. The project you mentioned is close to the final stage. Currently, the company has no other ongoing projects in Myanmar. “
Creative information focused on technology development services and big data product solutions also announced that the company and Myanmar Broadband Communications Co., Ltd. (MBT) signed a “strategic cooperation agreement”, and the two sides decided to carry carried out the construction of the data center and operation services and systems integration in Myanmar. Cooperate in Internet content development, integrate and utilize existing resources, and cooperate to explore potential opportunities in related markets.
A person from the company told reporters that the company does not have many businesses in Myanmar and that it is currently in a contraction stage. “We have not received any influential information on the issue that concerns him, and he has basically not been affected.”
Huafeng has a communication base station operation and maintenance business in Myanmar, and Shangrong Medical has stated that its subsidiary Purd Myanmar Company has officially been put into production. As of press time, the reporter has not contacted the two companies and the specific impact is still unclear.
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