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Stock impact report

Images Show Myanmar Scam Hub Largely Standing Despite Crackdown [Barron's]

Planet Labs PBC Class A (PL) 
Company Research Source: Barrons
One expert said the images were evidence that military raids were limited in order to preserve the hugely profitable illicit industry, but highly publicised to imply meaningful action had been taken. Advertisement - Scroll to Continue AFP analysis of satellite images of KK Park, one of the highest-profile scam centres in war-torn Myanmar's loosely governed border regions, showed recent damage to around 100 buildings. That amounted to about a quarter of the complex. An AFP investigation in October revealed construction at KK Park had continued apace following another much-publicised crackdown earlier this year, suggesting the black market business was still booming. The military subsequently announced raids, with state newspaper The Global New Light of Myanmar saying Sunday: "Currently, all the buildings are being demolished." Advertisement - Scroll to Continue The satellite images from Planet Labs PBC were taken between October 30 and Sunday, and showed 22 buildings des Show less Read more
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