A military checkpoint is seen on the way to the congress compound in Naypyitaw, Myanmar, on Monday. – REUTERSPIXForeign companies from Japanese retail giant Aeon to South Korean trading firm Posco International and Norway's Telenor scrambled to assess the turmoil in Myanmar on Monday after a coup in the country once feted as Southeast Asia's last big frontier.
Although some investors have grown wary over the persecution of the Rohingya Muslim minority, many companies have remained in Myanmar, drawn by an emerging market of more than 50 million people. "We have closed our Yangon Branch temporarily today in line with the guidance from the Myanmar Bank Association. We have confirmed the safety of all of our colleagues," said a spokeswoman for Singapore's United Overseas Bank.
The military has been accused of genocide and other war crimes against the Rohingya. Myanmar denies genocide, saying its military was carrying out legitimate operations against Rohingya insurgents who attacked police posts.