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MySQUAR Says Myanmar Refugee Crisis Not Hurting Its Daily Operations

LONDON (Alliance News) - Myanmar-focused mobile applications provider MySQUAR Ltd on Thursday ...

Alliance News 14 September, 2017 | 12:07PM
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LONDON (Alliance News) - Myanmar-focused mobile applications provider MySQUAR Ltd on Thursday stressed that civil unrest in Myanmar is not hitting its daily operations and market strategy.

It noted that some investors had "expressed concerns in relation to the increased attention Myanmar has recently received in the global media".

Myanmar's de facto leader Aung San Suu Kyi will address the nation next week on the Rohingya refugee crisis as international pressure mounts on the government to end it.

Government spokesman Zaw Htay said Suu Kyi would speak to the nation in a televised address on Tuesday about the worsening violence in northern Rakhine.

An estimated 370,000 Rohingya Muslims have fled Rakhine into Bangladesh since an outbreak of violence nearly three weeks ago, representing about a third of the total estimated Rohingya population in Myanmar.

MySQUAR said that it would "like to reassure investors that MySQUAR's daily operations and market strategy are not affected as the civil unrest is confined to a restricted rural area and is considered unlikely to spread."

"Telecoms and businesses are unaffected and operating in their normal capacity. MySQUAR's marketing and business development teams are based in Yangon and the majority of the operations team is based in Vietnam," the company said.

Shares in MySQUAR were down 2.2% at 3.42 pence Thursday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
MySQUAR Ltd 1.88 GBX -8.54 -
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