Singapore developer seeks trading suspension over Myanmar project

SINGAPORE (Reuters): Emerging Towns & Cities Singapore Ltd (ETC) on Tuesday (March 2) requested that trading in its shares be suspended and the real estate developer said it would conduct a review of its contracts with Myanmar government ministries and departments.

ETC is among companies being called out by activists over ties to the Myamar military, which seized power from the elected government in a Feb 1 coup.

The Singapore Exchange last week issued a list of queries to the company, which is developing a commercial and residential project in Myanmar called Golden City being built on land leased from the Myanmar army.

ETC said it would review material contractual payments to the Myanmar government and fund raising proceeds from recent years.

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