N Korea Using Malaysian Bank for Burmese Weapons Deals: Yonhap
covering burma and southeast asia
Monday, July 15, 2024

N Korea Using Malaysian Bank for Burmese Weapons Deals: Yonhap

By ARKAR MOE Saturday, July 4, 2009


North Korea sought payment through a bank in Malaysia for a suspected shipment of weapons to Burma being carried on a freighter tracked by the US Navy, according to a source quoted by South Korea’s Yonhap news agency.

Yonhap reported on Saturday that the source said a US envoy would visit Malaysia this weekend to focus on ways to cut off the payment to North Korean leader Kim Jong-il.

“Kim will have a hard time collecting his money,” said the high-level source.

The revelation comes as the North Korean freighter Kang Nam 1 is apparently returning home after being tracked by a US Navy destroyer that suspected it of carrying cargo banned under UN Security Council Resolution 1874, which toughened sanctions imposed after North Korea conducted its first nuclear test in 2006.

Philip Goldberg, the US coordinator for the implementation of the resolution, which was passed on June 12 to punish North Korea for its May 25 nuclear test, is scheduled to arrive in Malaysia on Sunday. Goldberg is in China ahead of his visit to Malaysia.

The White House said that US President Barack Obama discussed North Korea and financial regulations with Malaysia’s Prime Minister Najib Razakon by phone late last month.

According to another source in Seoul, the Kang Nam 1 is believed to be carrying small Soviet-era arms such as AK-47 rifles and RPG-7 anti-tank launchers manufactured in North Korea.

Adm Gary Roughead, the chief of US Naval operations, told reporters on Saturday that the Kang Nam 1 was being closely watched and is now in the East China Sea.

“I believe we are seeing the effects of the UN Security Council resolution,” he said.

On Friday, South Korean news channel YTN quoted an unidentified diplomatic official as saying that Burma requested that the Kang Nam 1 turn around.

The US State Department announced on Tuesday that it had frozen the US assets of Namchongang Trading Corp and Iran-based Hong Kong Electronics to curtail North Korea’s ability to trade in missiles and nuclear materials. Namchongang Trading Corp is allegedly connected to the Burmese arms industry.

Please read our policy before you post comments. Click here
E-mail:   (Your e-mail will not be published.)
You have characters left.
Word Verification: captcha Type the characters you see in the picture.

QQ Wrote:
All the nations in the world must abide by with this UN resolution, and those who do not comply should be punished.

The junta will do everything to protect themselves.This should be taken seriously, especially when they are caught playing tricks .

We can expect the same atrocities that have been carried out in communist countries. Indeed the junta are worst that communists

Please don't underestimate them. You need to be proactive not to be trapped by their lies.

Yangonmyat Wrote:
Many Burmese workers send money home using Burmese companies in Malaysia. This money is sent back by the junta to Singopore, Hong kong , China, Taiwan ,japan and other countries using Burmese businesses owned by close family members of the junta. This is how the junta can get forgeign currercy from oversee workers.

Oparlay Wrote:
Shortly after the US sanctions, the Burmese banks had to use the United Oversea Bank in Singapore for US Dollar transactions.

South Korea also has a special agreement with Myanmar Foreign Trade Bank to make transactions directly. I think South Korea should not cover up their business interest with the regime either. I hope this does not upset this friend of 'Uncle Sam'. I hate such one-sided news.

Moe Aung Wrote:
Who's going to arm the people? Who's willing to carry AK47s and RPGs with ammo to them? That is the question.

But first, people must unite and also win over moderates and dissenters in the army in a bid to level the playing field. Political work on the Tatmadaw must continue unabated. Work hard to even the odds as far as possible.

Diplomacy has been more than exhausted. It's time to use the only language the junta understands. It's time they finally found out what 'sword against sword and spear against spear' actually meant.

more articles in this section