Sembcorp Industries Suspends Operations in Myanmar

Sembcorp Industries has temporarily suspended operations at its 225-megawatt Myingyan Independent Power Plant in Mandalay, Myanmar, due to escalating civil unrest in the region. This decision comes amid growing violence and protests, as Myanmar's military government extended a state of emergency for another six months, complicating efforts to stabilize the country. Sembcorp, which is backed by Singapore's Temasek Holdings, stated it prioritizes the safety of its employees and infrastructure, and plans to resume operations once conditions improve. Concurrently, Japan's Unicharm Corporation has halted a planned capital increase for its Myanmar unit, citing adverse business conditions and difficulties with foreign currency remittance. The situation in Myanmar remains precarious, with armed rebellion and economic decline presenting ongoing challenges for businesses operating in the region.