Narinjara News

9 COMPANY CHIEFS ARRESTED IN BURMA

Dhaka, September 24: The heads of nine private import and export companies have been arrested and had their assets seized in the latest crackdown on trading irregularities, according to yesterday’s the daily star quoted from AFP.

The effected nine companies are Diamond Million, Golden Optic, Green Green one, Kyaw Myint Moe, Min Min Tun, Shwe Myet Hman, Thaung Htike, Thein Htick, Zabu Yit and they are also major trading firms, the sources said.

“The nine are some of the 299 private exporting companies presently being investigated for malpractice from among 15,000 companies listed with the trade minister, “according to an anonymous businessman.

“The nine were found to have fudged official import permits issued by the trade department worth over three million dollar.” He did not identify those arrested.

Some of the firms are known to be fronting for foreign companies, which are banned from conducting import and export business on their own, he said.#