LEFT CONTEXT KEY-WORD RIGHT CONTEXT Burmese Govt Warns Public about Dodgy Investments | The Irrawaddy Magazine BURMESE VERSION |BLOG | VIDEO | HOMEBURMAASIABUSINESSOPINIONFEATUREINTERVIEWCARTOONSPORTSMULTIMEDIAARCHIVES < target='_blank'> BUSINESSBurmese Govt Warns Public about Dodgy Investments By THA LUN ZAUNG HTET/ THE IRRAWADDY| October 18, 2012 | 4 In the 2000 Hollywood movie, Boiler Room, Vin Diesel leads a team of ambitious brokers who sell fictitious stocks and defraud al of ambitious brokers who sell fictitious stocks and defraud all their clients. (PHOTO: www.imdb.com) Certain domestic companies with foreign ties have been advertising themselves to the public as investment banks, however they do not have licenses to operate and therefore their activities are illegal,  Burma’s Ministry of Finance and Revenue (MFR) has warned.Dr. Maung Maung Thein, the MFR deput Maung Maung Thein, the MFR deputy minister, did not mention by name the companies he was referring to, but said that they had been guilty of advertising via the media and the Internet to act as investment banks and had falsely claimed that they had government permission to conduct financial affairs in Burma.“A couple of companies with foreign connections have been advertising in the media and statin permission to conduct financial affairs in Burma.“A couple of companies with foreign connections have been advertising in the media and stating that they have already obtained permits to conduct investment banking [in Burma],” he said. “There have also been reports that those companies have been sending out emails inviting the public to invest through them.“No foreign institution has yet been give that they have already obtained permits to conduct investment banking [in Burma],” he said. “There have also been reports that those companies have been sending out emails inviting the public to invest through them.“No foreign institution has yet been given license to operate inside Burma. They are not even allowed to open offices in this country,” he said.According to the Myanmar Monetar people in the past and left behind many bitter memories.“Some monetary and financial organizations can be very deceitful,” he continued. “They promise substantial interest and dividends to those who invest with them. Many people do. Then, the firms take all the money and run away.”Thet Htun Oo, the senior manager at Myanmar Securities Exchange Centre, suggested that people should invest money or bu to those who invest with them. Many people do. Then, the firms take all the money and run away.”Thet Htun Oo, the senior manager at Myanmar Securities Exchange Centre, suggested that people should invest money or buy shares only after they have made proper inquiries, and be especially vigilant as to the background of the company they are dealing with.According to Dr. Aung Ko Ko, a Burmese economis Posts :Burma Business Roundup (Saturday, Jan. 26)Burmese Ex-Telecoms Minister Faces Graft ProbeRangoon to Get New Housing ProjectBurma's Mobile Market Set to ExpandBurma Still an ‘Extreme Risk’ for Investors Despite Reforms 2 Responses to Burmese Govt Warns Public about Dodgy Investments Tharlikar October 18, 2012 - 5:35 pm This is lawless country hyped up to no end by the “Democracies” for their ow Graft ProbeRangoon to Get New Housing ProjectBurma's Mobile Market Set to ExpandBurma Still an ‘Extreme Risk’ for Investors Despite Reforms 2 Responses to Burmese Govt Warns Public about Dodgy Investments Tharlikar October 18, 2012 - 5:35 pm This is lawless country hyped up to no end by the “Democracies” for their own agenda with totally clueless “Mother and Father” of the nation. People are simpl to Get New Housing Project Kachin Conflict Shows China’s Business Dilemma in Burma Burma’s Mobile Market Set to Expand Burma Business Roundup (Saturday, Jan. 19) Burma Still an ‘Extreme Risk’ for Investors Despite Reforms Four Int’l Business Conferences Planned in Rangoon Western Union Launches Partnership with Burmese Banks DHgate Wholesale Central <