re: Ann: RAI - 31 December 2012 Interim Finan...
Hi sid,
As you mentioned, US government does have sanctions which prevent US companies from investing in Myanmar.
This doesn't mean that US companies are not lining up for a slice of Myanmar, but it does mean that they will likely be the last ones in to get a piece of the cake.
U.S. Firms Feel Left Behind in Myanmar http://online.wsj.com/article/SB10001424127887323699704578326192356924204.html
"U.S. business leaders are complaining that Washington's remaining sanctions on Myanmar are stopping them from investing in the world's hottest frontier economy, limiting them from whom they can do business with and requiring mountains of compliance paperwork, while European and Asian rivals are getting an edge in opening up the formerly isolated Southeast Asian nation."
"Executives of major American companies—including Chevron, General Motors Co., Yum Brands Inc., ConocoPhillips and Caterpillar Inc.—are on a five-day business mission here in what is the most significant gathering of U.S. businesses since President Barack Obama's visit in November."
US is starting to lift its sanctions against Myanmar albeit not a fast enough pace for US companies to get in early:
U.S. Opens 31-day Comment Period for Proposed Reporting Requirements on Responsible Investment in Myanmar (Burma) While Further Easing Sanctions http://www.myanmarlegalservices.com/wp-content/uploads/2013/02/U.S.-Opens-31-day-Comment-Period-for-Proposed-Reporting-Requirements-on-Responsible-Investment-in-Myanmar-Burma-While-Further-Easing-Sanctions.pdf
U.S. Further Eases Sanctions Against Myanmar Banks http://csis.org/publication/us-further-eases-sanctions-against-myanmar-banks
US firms rush back to Burma as sanctions lift http://www.abc.net.au/news/2012-07-15/an-us-company-first-to-restart-business-in-burma/4131200
RAI Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
