Myanmar’s Central Bank has blacklisted nearly 300 companies—including Htoo Trading linked to U Tay Za and his son—over failure to repatriate export earnings, according to state media reports on April 4–5.

A total of 287 companies were found to have not returned export revenues for up to four years, covering exports made between January 1, 2021, and March 31, 2025. Authorities said the firms violated foreign exchange regulations, prompting the blacklisting of both the companies and their directors.

Despite coordinated efforts by multiple government bodies and banks to recover the funds, the non-compliant companies failed to settle their accounts. As a result, their export-import licenses have already been revoked.

Under Myanmar’s foreign exchange laws, exporters must deposit earnings into domestic bank accounts within 30 days for Asian markets and 60 days for other countries. Violators face penalties including fines and up to one year in prison.