29 Apr '13, 2pm

Singapore Stymies Myanmar Mogul's Listing Bid

SINGAPORE—One of Myanmar's most powerful businessmen lost a bid to tap foreign capital markets when Singapore regulators refused to review his plan for a listing, citing U.S. sanctions and concerns over his company's human-rights and business record, according to the company that would have been the other party in the deal. Construction and mining magnate Zaw Zaw had planned to merge his gas-station business with Singapore-listed Aussino Group Ltd., a home-decor and bedding retailer, through a so-called reverse takeover. That would have given him control of a publicly traded company in Singapore and access to the city-state's deep capital markets.

Full article: http://online.wsj.com/article/SB1000142412788732352840457...

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