Myanmar: Chinese SOE implicated by US Treasury

Hong Kong's leading magazine for uncovering information relating to listed companies, webb-site.com has cast an interesting light on the recent US Treasury designation of three individuals and a company they control.

Golden Aaron Pte Ltd, a Singapore company, is owned by Mr Lo Hsing Han, his son Steven Law (also known as Tun Myint Naing), and Law's wife Cecilia Ng, says David Webb who runs the magazine.

He explains that in 2004, Golden Aaron entered into an agreement with China's CNOOC, which is listed in New York and Hong Kong for a joint venture to explore for oil and gas. There have been other agreements since.

The US Treasury issued a series of sanctions against Myanmar persons and controlled entities and the Treasury statement says "In addition to their support for the Burmese regime, Steven Law and Lo Hsing Han have a history of involvement in illicit activities. Lo Hsing Han, known as the "Godfather of Heroin," has been one of the world's key heroin traffickers dating back to the early 1970s. Steven Law joined his father's drug empire in the 1990s and has since become one of the wealthiest individuals in Burma."

The full webb-site.com article is here