Opponents of Myanmar ruling junta hold ‘silent strike’
April 16, 2021, 9:13 am

Opponents of Myanmar ruling junta hold ‘silent strike’

In this file photo taken on March 12, 2021, protesters hold up the three-finger salute and placards with the image of detained civilian leader Aung San Suu Kyi while using their mobile torches during a demonstration against the military coup in Yangon. Myanmar's ousted civilian leader Aung San Suu Kyi was hit with a fresh criminal charge on April 12, 2021, as the junta's tough crackdown on dissent rolls on. (File photo: AFP)

Opponents of military rule in Myanmar called for a “silent strike” on Friday, urging people to say at home to mourn the more than 700 people killed in protests against a Feb. 1 coup and to wear black if they have to go out.

Many ordinary people, infuriated by the return of military rule after five years of civilian government led by democracy champion Aung San Suu Kyi, have been taking to the streets day after day with activists thinking up new ways to show opposition as the security forces step up their suppression.

“Let’s make the roads silent,” protest leader Ei Thinzar Maung posted on her Facebook page.

“We have to stage a Silent Strike to show our sorrow for the martyrs who have scarified their lives. The most silent voice is the loudest.”

Friday is the third day of the five-day traditional Buddhist New Year holiday, known as Thingyan. Most people this year are shunning the usual festivities to focus on their campaign against the generals who overthrew Suu Kyi’s government and locked up her and many others.

In overnight violence, two people were shot and killed in the central town of Myingyan, Radio Free Asia reported.

A spokesman for the junta could not be reached for comment.

The military has also been rounding up its critics and has published the names of more than 200 people wanted under a law that makes it illegal to encourage mutiny or dereliction of duty in the armed forces.

Two prominent protest organizers were arrested on Thursday along with an actor and singer, both known for speaking out against the coup.

Late on Thursday, soldiers raided a famous Buddhist monastery in the second city of Mandalay and arrested two people, the Myanmar Now media group reported. South Korean venture ending

International pressure has been slowly building on the military, particularly from Western governments, though the military has a long record of brushing off outside pressure.

The European Union has agreed to impose sanctions on another 10 individuals linked to the coup and to target two businesses run by the armed forces for the first time in protest at the military takeover, two diplomats said.

While the EU has an arms embargo on Myanmar and targeted 11 senior military officials last month, the decision to target the two companies is the most significant response for the bloc since the coup.

EU diplomats told Reuters in March that parts of the military’s conglomerates, Myanmar Economic Holdings Limited (MEHL) and Myanmar Economic Corporation (MEC), would be targeted, barring EU investors and banks from doing business with them.

Human rights groups have also called for them to be sanctioned.

The EU declined to comment and no one at Myanmar’s mission to the EU in Brussels could be reached for reaction.

In rare action by an Asian company, South Korea’s POSCO Coated & Color Steel Co Ltd (POSCO C&C) said on Friday it would end its joint venture with MEHL.

The firm did not give details of how it would end the venture but a spokesman told Reuters while it was ending the venture relationship, it was not pulling out of Myanmar.

source: Reuters

Image source: AFP

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.