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.*
Names
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
KYAW WIN
Aung Kyaw Myint
U HTAY 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
Addresses
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.
