Myanmar rebel group says shoots down military helicopter
May 3, 2021, 9:09 am

Myanmar rebel group says shoots down military helicopter

This handout from the Burma Associated Press (BAP) taken and received on April 4, 2021 shows protesters making the three-finger salute while wearing masks that express what they say is Chinese interference in the UN's handling of Myanmar affairs after the military coup in Yangon's Kamayut township. (AFP)

The Kachin Independence Army (KIA), one of Myanmar’s most powerful rebel groups, said on Monday it had shot down a helicopter after returning fire following air strikes by the military, an official at the group said.

The United Nations estimates that tens of thousands of civilians have fled their homes as a result of the fighting between the military and ethnic minority insurgents in remote northern and eastern frontier regions. The conflict intensified after Myanmar’s generals seized power on February 1, ousting the elected government led by Aung San Suu Kyi.

The KIA’s information department head, Naw Bu, said the helicopter was shot down around 10:20 a.m. at a village near the town of Moemauk in Kachin province.

“The military council launched air strikes in that area since around 8 or 9 this morning ... using jet fighters and also fired shots using a helicopter so we shot back at them,” he said by telephone. He declined to say what weapons were used.

News portals MizzimaDaily and Kachinwaves also reported the downing of the helicopter next to photographs showing a plume of smoke coming from the ground.

A resident in the area, who declined to be named, said by telephone that four people had died in hospital after artillery shells hit a monastery in the village.

Reuters could not independently verify the reports and a military spokesman did not answer a phone call seeking comment.

Myanmar has been in turmoil since the coup, with protests almost daily against military rule across the country.

On Sunday, Myanmar security forces opened fire on some of the biggest protests in days, killing eight people, media reported.

The protests, after a spell of dwindling crowds and what appeared to be more restraint by the security forces, were coordinated with demonstrations in Myanmar communities around the world to mark what organizers called “the global Myanmar spring revolution”.

The Assistance Association for Political Prisoners advocacy group says security forces have killed at least 765 protesters since the coup. Reuters is unable to confirm the toll.

The military said it had to seize power because its complaints of fraud in a November election won by Suu Kyi’s party were not addressed by an election commission that deemed the vote fair.

Suu Kyi, 75, has been detained since the coup along with many other members of her party.

source: Reuters

Image source: AFP

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.