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On April 27, 2026, shareholders of the Thai publicly listed company Advanced Connection Corporation Public Company Limited (ACC) approved the sale of a major stake to two companies from the Sky Aviator Myanmar arms broker network operated by Kyaw Min Oo.
The private placement resolutions passed with 87.16% in favour and 12.84% opposed, despite money laundering concerns, unresolved questions over the investors' beneficial ownership, a recommendation against approval from the company's financial advisor, and scrutiny from Thailand's Securities and Exchange Commission (SEC), which had instructed ACC to provide sufficient information to shareholders.
The transaction between ACC and the Sky Aviator network is detailed in a feature published by Justice For Myanmar today.
Two Singapore companies, Sky Avia Trading Pte. Ltd. and Heli Asia Trading Pte. Ltd., will form the biggest shareholder bloc in ACC through recently established Thai subsidiary shell companies operating with the same names.
If Thai authorities do not intervene, the two Sky Aviator companies would hold a combined 23.25% stake at a cost of 300 million baht (US$9.3 million), as part of a 350 million baht (US$10.8 million) total placement that also includes a Thai individual investor, Wichai Wanavit.
Sky Avia Trading and Heli Asia Trading are both part of the Sky Aviator network of companies owned by Kyaw Min Oo, whose business supplying parts for Russian combat and attack aircraft to the Myanmar Air Force enables the junta’s ongoing war crimes and crimes against humanity.
The Myanmar junta relies on its fleet of Russian aircraft to wage an aerial campaign of terror that targets civilians through indiscriminate airstrikes on schools, monasteries and hospitals.
On paper, Sky Avia Trading and Heli Asia Trading are owned by a Singaporean national, Wee Lee Lian. Lian is Kyaw Min Oo's longtime nominee director and is the sole director of Sky Avia Trading and Heli Asia Trading in Singapore and Thailand following Kyaw Min Oo’s 2022 restructuring of his Singaporean companies after public scrutiny of his arms brokering activities.
Justice For Myanmar wrote to ACC on February 10, 2026, and again on February 18, and reported concerns over the private placement to the SEC, SET and Anti-Money Laundering Office.
It is now the responsibility of Thai authorities to act and prevent the Sky Aviator arms broker network from completing the transaction and becoming the biggest shareholder group of ACC.
Current sanctions on the Sky Aviator network and key individuals are uneven, and the network is exploiting the gaps to pursue this Thai investment.
The USA, UK, EU, Canada and Australia should respond by imposing coordinated and targeted sanctions on the whole Sky Aviator network of companies and individuals.
Justice For Myanmar spokesperson Yadanar Maung says: “ACC’s management are continuing to push through a deal with Sky Aviator companies that raises serious money laundering concerns.
“Kyaw Min Oo’s sole business is in death and destruction, profiting from the illegal junta’s campaign of indiscriminate airstrikes against civilians.
“Kyaw Min Oo and his associates must be held accountable for aiding and abetting the junta’s international crimes and must not be allowed to wash the proceeds of their bloody business through Thailand.
“ACC shareholders have failed to stop this dirty deal, so now it is up to Thai authorities to take a stand and ensure this private placement is not completed.”
