The European Union has agreed to impose sanctions on another 10 individuals linked to the coup and to target two businesses run by the armed forces for the first time in protest at the military takeover, two diplomats said.

While the EU has an arms embargo on Myanmar and targeted 11 senior military officials last month, the decision to target the two companies is the most significant response for the bloc since the coup.

EU diplomats told Reuters in March that parts of the military's conglomerates, Myanma Economic Holdings Limited (MEHL) and Myanmar Economic Corporation (MEC), would be targeted, barring EU investors and banks from doing business with them.

Human rights groups have also called for them to be sanctioned.

The EU declined to comment and no one at Myanmar's mission to the EU in Brussels could be reached for reaction.

In rare action by an Asian company, South Korea's POSCO Coated & Color Steel Co Ltd (POSCO C&C) said on Friday it would end its joint venture with MEHL.

The firm did not give details of how it would end the venture but a spokesman told Reuters while it was ending the venture relationship, it was not pulling out of Myanmar.

Leaders of Southeast Asian neighbours, which have been trying to encourage talks between the rival Myanmar sides, will meet in Indonesia on April 24 to discuss the situation, Thai and Indonesian media reported.

Ruling Military leader Senior General Min Aung Hlaing was due to attend, a Thai broadcaster said, but the Jakarta Post said it had not been confirmed whether the summit would include representatives of the ruling military or the former government.