DIRECTORATE of Investment and Company Administration (DICA) put M Sinai Co Ltd on the blacklist until the 2026-2027 financial year as the company inflated the percentage of work from 35 per cent to 75 per cent to obtain progress payments.
The company’s director won the tender to construct a Double Single Bailey in Ramhtalo village in Hpalan Township with K122.5 million funds allocated by the National Disaster Management Committee in the 2020-2021 financial year. Nonetheless, the company conducted fraudulent practices by overstating the progress of the project from 35 to 75 per cent, resulting in the blacklisting until the 2026-2027 financial year, according to the Chin State government’s meeting decision on 12 December 2025.
DICA has already notified that the registrar will publicly declare the deny list and weak compliance matters on the DICA’s website if companies registered on the online registry system, MyCO, fail to comply with the existing law, rules and bylaws of the government institutions concerned and provisions stipulated in the Myanmar Companies Law. DICA stated that the Ministry of Religious Affairs and Culture put two companies (MANARSIK Co Ltd and E-VISA Services & Travels Co Ltd) on the blacklist for deceptive practices in soliciting money from three companies operating Hajj pilgrimage services and for damaging the reputation of the government and the ministry. In early December 2025, DICA declared blacklisting of 25 companies for fraudulent addresses for registration until the end of the 2026-2027 financial year.
These 25 companies were flagged for unauthorized address as they are no longer at the registered address on the MyCO submitted by the relevant ministries: the Ministry of Foreign Affairs, the Bureau of Special Investigation, and the Internal Revenue Department. One was referred by the Ministry of Foreign Affairs, 13 by the Bureau of Special Investigation, and 11 by the Internal Revenue Department.
NN/KK
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