Home Insider Insider Review Myanmar Business Leaders Implicated in Panama Papers

Myanmar Business Leaders Implicated in Panama Papers

Would it be fair if government officials and their families and associates embraced the use of covert companies and bank accounts to hide, possibly ill-gotten money? Some officials and their associates in China, Azerbaijan, Russia, Canada, Pakistan, the Philippines, Thailand, Mongolia and many other countries have done so, according to ICIJ (The International Consortium of Investigative Journalists).

For a country so poor as Myanmar, would it be ethical or even legal for the mega-rich use complex offshore structures to own mansions, yachts, art masterpieces and other assets, avoiding their fair share of taxes and using tax advantages and anonymity not available to the average people? ICIJ published on May 9, a searchable database that strips away the secrecy of nearly 214,000 offshore entities created in 21 jurisdictions, from Nevada to Hong Kong and the British Virgin Islands. The data, part of the Panama Papers investigation, is the largest ever release of information about offshore companies and the people behind them. This includes, when available, the names of the real owners of those opaque structures.

The Panama Papers are 11.5 million leaked documents that detail financial and attorney–client information for more than 214,488 offshore entities. The leaked documents were created by Panamanian law firm and corporate service provider Mossack Fonseca; some dated back to the 1970s. (Wikipedia, 2016)

The leaked documents illustrate how wealthy individuals, including public officials, are able to keep personal financial information private. While the use of offshore business entities is often not illegal, ICIJ found that some of these shell corporations were used for illegal purposes, including fraud, kleptocracy, tax evasion, and evading international sanctions.

We have searched the database and noted the following names and addresses, all related to Myanmar. Some of the names are well-known local businessmen, or leaders of the business community here.*


Joern Kristensen

Tin Maung Khin

Thinn Maung Aye

Liu, Man Ho

Tong, Kwok Cheong

Wu Rong

Richard Xing Wang

Khin Maung Aye

Wong Lui Hiu Herbert

Mo Wan Fong Christine

Hein Htet Kyaw

Lai Man Wah, Joseph

Fong Wai Yee

Lai Wai Sin

Fong Wai Ha

Goldwater Company Limited Mr Lars Erik Larsen

Dr Ohmar Moe Myint

Financecorp Limited

Jonathan W. Smith

U Myint Swe

Maung Maung Sway-Tin


Aung Kyaw Myint


Mya Thidar Sway-Tin

Ernest Howard Bolton II

William Mark Hilsman

Thu Ta

Aye Zaw Win

U Moe Myint@Michael Moe Myint

U Myo Tin

Mya Mya Soe

Quamruddin Ahmed


5/6 A, Mya Kan Thar Rd, Mya Kan Thar Housing Estate, Kamayut Township, University, Yangon 11041, Myanmar

56 Kanbawza Road, Yangon, Myanmar

96 Rose Bank Road, Ahloe Tsp Yangon.

Flat G, 1/F, Block 4, Bayshore Towers, 608 Sai Sha Road, Ma On, Shan, N.T.

No.18-4-401, No.19 YI, Yu Quan Road, Shi Jing Shan.

No.43-38, No.219 Road, The Dong Qu, An Shan Shi.

No.7,1/F, Po On House Kam On Cort Ma On Shan, Hongkong.

No.96, Hnin Si Gone Street, Ahlone.

RM 1107, Hang Fung House Hang On Estate, Ma On Shan NT

RM 7,30/F,Kam Yuet House Kam Ying Court, Ma On Shan NT

Room 413, On Yan House: TSZ On Court, Tsz Wan Shan, KLN Sakura Tower 11th, Floor, Suite N 1404339 Bagyoke Aung San Road, Yangon-Union of Myanmar.

Sat Kong Qtr, Tha Nut Pin, Bago Division, Myanmar. Thiri Mingalar St, Lane 15,22/C Ywa Ma East, Insein Yangon, Union of Myanmar.

132 University Avenue Yangon Myanmar.

33 Nawaday Road, Dagon P.O., Yangon, Myanmar.

85(B), Windsor Road, Sanchaung, Yangon, 11111, Myanmar.

223(B), Shwegondaing Road, Bhan Township, Yangon, Myanmar.

No.7 West Ady, Lane 1 Parami, Yangon, Myanmar. 257 Insein Road, Yangon, Myanmar.

623 Pyay Road University Post Office, Yangon, Myanmar. No.41, 140th Street Maugone Tamwe, Yangon, Myanmar.

C/O Nawarat Concorde Hotel, 257 Insein Road, Yangon, Myanmar.

132 University Avenue University Post Office, Yangon, Myanmar.

C/O Suite 33, Building 11,8 Mile Pyay ROad, Mayangon Junction, Yangon, Myanmar.

C/O North Andaman Resources Ltd. Room 805 La Pyat Wun Plaza, No.37, Alan Phaya Rd. Dagon Township, Yangon, Myanmar.

No.130, Shwe Gon Taing Road, Uyzana Centre, Bahan Township, Yangon, Myanmar.

No.26, Nandawun Street, Sanchung Township, Yangon, Myanmar.

Suite 217, Nawarat Concorde Office Centre, Nawarat Concorde Hotel, 257 Insein Road, Yangon. Myanmar.