20 JANUARY 2023

Official Statement

Statement on Recent Allegations against Mottama Holdings

Mottama Holdings wishes to address recent allegations made in a published report that has received media attention.

The report contains false and misleading information regarding our company’s involvement with the Myanmar Directorate Defence Industries (DDI). We wish to state categorically that Mottama Holdings has no relationship with the DDI, its affiliates, or any of its associates.

Neither Mottama Holdings nor any of its associates have authorized any proposal or engagement with the DDI or its associates.

The report’s allegations regarding Mottama Holdings rely upon undisclosed and unverifiable sources. No effort was made to contact Mottama Holdings to provide evidence to rebut these hearsay allegations before the report’s publication.

Although, remarkably, we have not been invited by the report’s authors to do so, we are now in the process of compiling a full response which will demonstrate the allegations are untrue.

Rather than repeat the Report’s absent verification procedures, we respectfully request that national and international organizations and media maintain high standards of publishing and fact-checking before they repeat the defamatory allegations made in the Report. We also ask that due diligence and proper verification procedures be conducted before designating any business.

Mottama Holdings maintains its business operations in the construction, manufacturing, trading and logistics sectors. Through principled and conscientious practices, we have managed to provide more than 2,000 job opportunities for the people of Myanmar even in the current challenging economic climate.

We assure our stakeholders and the public that Mottama Holdings has no business dealings with the DDI and we reject the accusations made in the report. We reserve the right to seek appropriate retraction and compensation for material damage and harm resulting from the repetition and promotion of these false allegations.