The Central Bank of Myanmar (CBM) announced on June 30 that it has blacklisted 197 companies and their directors who exported goods between 2016 and 2020 but failed to repatriate the export earnings.

Export revenue is a major channel for bringing foreign currency into the country. Therefore, under Section 38(b) of the Foreign Exchange Management Law, Section 35 of the Foreign Exchange Management Regulations, and Notification No. 27/2023, exporters must deposit the full amount of foreign currency earnings into their bank accounts in Myanmar without fail—within 30 days from the date of export if exporting to Asian countries, and within 60 days if exporting to other countries.

To ensure that exporters who exported goods from 2016 to 2020 complied by repatriating export proceeds within the stipulated period, the Central Committee for Accurate and Timely Trade and Goods Flow, together with the Ministry of Planning and Finance, the Ministry of Investment and Foreign Economic Relations, the Ministry of Commerce, the Central Bank of Myanmar, and Authorized Dealer (AD) licensed banks, contacted and verified the companies. After those companies that failed to clarify their accounts were identified, the authorities proceeded to revoke their export-import registration certificates.

According to an inspection conducted as of June 23, 2025, the Central Bank announced that these 197 companies failed to comply with the requirements set out in the Foreign Exchange Management Law, regulations, and notifications. As a result, both the companies and their directors have been placed on the blacklist.

Among these companies is Chit Linn Myaing Toyota Co., Ltd., based in Hpa-An, Kayin State, owned by Major Saw Chit Thu from the BGF (Border Guard Force) group.

According to the Central Bank’s statement, the directors of the company are U Htike Maung, Daw Nan Hnin Nanda Aye, U San Myint, U Saw Chit Chit, U Saw Htoo El Mu, and U Saw Min Min Oo.

The company is located at No. 47, Bogyoke Road, Ward 9, Hpa-An, Kayin State.