BritDB

UKSL Sanctions designation

Myanmar Economic Corporation

Entity · designated 1 April 2021

Designation identifiers

UKSL unique ID
GHR0081
OFSI group ID
14081
Designation type
Entity
Date designated
1 April 2021
Last updated
9 April 2025

Regimes

  • The Global Human Rights Sanctions Regulations 2020

Designation sources

  • UK

Sanctions imposed

  • Asset freeze
  • Director Disqualification Sanction

Official reasons

  • Myanmar Economic Corporation (MEC) is a major Myanmar conglomerate, which in practice is owned and governed by, and for the benefit of, the Myanmar Ministry of Defence (MoD). The Tatmadaw who are responsible for serious human rights violations against the population of Myanmar, including the 2021 coup d'etat and violence against ethnic minorities, is under the command of the MoD. Also several former and serving member of the Tatmadaw are directors of MEC. There are therefore reasonable grounds to suspect that MEC is associated with the Tatmadaw. Further or alternatively, there are reasonable grounds to suspect that MEC made funds available to the Tatmadaw by directly contributing to a fundraising event aimed at providing financial support for the Tatmadaw during the 2017 ‘clearance operations’ against the Rohingya. These 'clearance operations' resulted in serious human rights violations, including mass unlawful killing, torture, systematic rape and targeted sexual violence.

Other information

  • Names of Director(s)/Management: Lt Gen (retired) Nyo Saw (Former QMG – retired in 2020); Maj Gen Moe Myint Htun (Army COS); Rear Admiral Moe Aung (Navy COS); Lt Gen Htun Aung (Air Force COS); Brig Gen Aung Kyaw Hoe (Defence Perm Sec); Aung Lin Tun (Htun); Maj Gen Aung Zay Ya; Khin Maung Soe; Maj Gen Maung Maung Myint; Brig Gen Thaik Soe; Thant Swe; Thant Zin; Maj Gen Thaw Lwin; Thein Toe; Maj Gen Zaw Lwin Oo; Zin Min Htet; Aung Min; Htun Htun Oo; Myo Thant; Win Lwin. Ultimate beneficial owner(s): Myanmar senior military leadership, units and battalions. The Director Disqualification Sanction was imposed on 09/04/2025.

Addresses

  • Lines: Strand Rd.
  • Lines: Near Thakhin Mya Park
  • Lines: Ayeyar Waddy Ward
  • Lines: Ahlone
  • Lines: Yangon
  • Country: Myanmar
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This directory is not a substitute for sanctions compliance screening. Ownership and control rules can apply to entities that are not separately named. Verify the current official list and obtain appropriate advice.