have done in the converse case of a dispute between a company incorporated under the laws of Myanmar and Singapore as a host country of direct investments by a Myanmar company. In each case, of course, it is necessary that the investment and the investor come within the terms of the 1987 Agreement at the time of the commencement of the proceedings. But no general objection of lack of privity can be sustained. A dispute can arise directly from an investment whether or not the investment is made pursuant to a contract with the host State or one of its organs.