singapore shortly after the military seized power 55 foreign investors in myanmar from coca cola to facebook signed a statement committing to the country and employees there during developments of deep concerna month on those pledges are being sorely tested with myanmars economy all but paralysed by massive anticoup protests widespread strikes and the juntas killing of dozens of protesters drawing calls for boycotts and sanctionsa sudden aboutturn from australias woodside petroleum one of the signatories to the statement exemplifies the challenges it said on february 27 it was reducing its presence in the country amid concerns about violence and would pull its offshore exploration team just one week after saying drilling would not be affectedthis week fashion giant hm which has around 45 direct suppliers in myanmar and is also a signatory to the statement said it had paused new orders from the country due to transport and manufacturing disruptionshm is not however taking any immediate decision on its longterm future in myanmarwe fully recognise the complexities in balancing different aspects to ensure that the people in myanmar are not negatively affected said serkan tanka myanmar country manager at hmone large global firm has already made a dramatic exit kirin holdings co is winding up a beer alliance with a militarylinked company after coming under pressure from activist groupsescalating violence which has seen more than 50 protesters killed is only adding to the uncertainty facing companies anxious about reputational riskif this goes on for months more would probably just totally leave said murray hiebert senior associate of the southeast asia programme at the center for strategic and international studiesrisky businessoperating in myanmar has long been a wrestle between high risk and potential high reward for foreign businessthe opening up of one of asias last frontier markets in 2011 after half a century of military rule led to a surge in foreign direct investment net inflows peaked at 47 billion in 2017 compared with 900 million in 2010 according to the world bankbut even before the coup firms were grappling with crumbling infrastructure constant power disruptions legal uncertainty and an economy controlled in large parts by the militarywhile all foreign firms will be assessing and will be assessed over their next moves energy companies some of the longest standing foreign investors in myanmar are particularly likely to come under further pressurethe united nations human rights investigator on myanmar tom andrews said in a report last week that countries should impose sanctions on myanmar oil and gas enterprise moge which is now controlled by the military and represents its largest source of revenuetotal which has been in myanmar since 1992 and chevron have a large offshore gas project in partnership with moge a chevron spokesperson said it will comply with all applicable laws and sanctions total declined comment on the threat of sanctionstelecom and internet companies too are in a difficult position as they deal with intermittent shutdowns of services and new amendments to cyber laws that