We are writing from the Business & Human Rights Resource Centre invited KGI Securities to respond to a report alleging that KGI Securities holds shares with Federal International, one of the oilfield services companies that are alleged to “…have made themselves complicit with the junta as it commits war crimes and crimes against humanity against the people of Myanmar.” The report asserts that “International investors…holding shares in the…oilfield services companies, also have a responsibility under the UN Guiding Principles and the OECD Guidelines to use their leverage to convince their investee companies to act responsibly, and to divest from those companies if they do not act responsibly. If the asset managers do not do so, the OECD Due Diligence Guidance for Responsible Business Conduct indicates that they risk deepening their relationship to and responsibility for the atrocity crimes the Myanmar junta is committing with oil and gas revenue.”

KGI Securities did not respond.