Ex-banker builds on father’s property business

Yoma’s new CEO eyes diversified plate of projects in Myanmar Taking over the reins of his father’s business was not a move Mr Melvyn Pun had envisioned. “It was totally unexpected,” says Mr Pun, 37, now chief executive at Singapore-listed property and construction group Yoma Strategic Holdings. The former Goldman Sachs investment banker was appointed […]

Yoma hails Landmark breakthrough

A senior Yoma Strategic Holdings official has hailed as “hugely significant” a recent agreement signed with the Ministry of Rail Transport that paves the way for work to start on a US$400 million-plus development project in downtown Yangon. The company announced yesterday that it signed a framework agreement on December 31 with the ministry regarding […]

Digicel mulls sale of Myanmar towers

“Digicel has received a number of expressions of interest regarding an acquisition of the business and is evaluating the options relating to it,” say documents circulated ahead of its planned IPO on US markets later this year. Local reports suggested several companies had made initial bids and are undergoing a due diligence process Digicel made […]

KFC finally made it to Myanmar via Yoma Strategic Holdings

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. This morning Yum! Brands announced that they are launching the first KFC outlet via Yoma Strategic Holdings (YSH) in 2015. After many false starts and even a much publicised taste test in May 2013 in Inya Lake Hotel […]

Yoma Strategic Rides on Myanmar to Post Profit Bump

Singapore-based property conglomerate Yoma Strategic Holdings (YSH) has posted a tripling of its year-on-year net profit in the first quarter of 2014-15 fiscal year, thanks to valuation gains on its Myanmar projects. Revenue for the group rose 13.9 percent in the first quarter (Q1) of 2014-15 (ended June 30) to S$17.3 million ($13.9 million), it […]

DVB talks to Vikram Kumar, IFC

Vikram Kumar, the Resident Representative for the International Finance Corporation (IFC) in Myanmar, spoke to DVB Interview International’s Alex Bookbinder about IFC investments in Yoma Bank and Shangri-La hotels. The IFC, which is part of the World Bank Group, are financing several major infrastructure projects in Myanmar. One major investment is US$75 million in funds […]

Yoma to Ramp up Myanmar Investments by $130 Million

Singapore-listed Yoma Strategic Holdings (YSH) last week announced its plans for a massive expansion of its business interests in Myanmar in a bid to diversify its portfolio and income stream in the frontier market of the Southeast Asian country. The company, which mainly deals in real estate and property, will bolster its push into Myanmar […]

YSH, Sumitomo to distribute Hino brand vehicles in Myanmar

YANGON—Singapore-listed Yoma Strategic Holdings (YSH) and Japan’s Sumitomo Corporation have entered into a proposed joint venture to distribute and service Hino brand trucks and buses in Myanmar. The joint venture, subject to approval by relevant authorities, is expected to be 60-percent owned by Sumitomo Corporation, 20-percent by Elite Matrix, a wholly-owned subsidiary of YSH, and […]

Yangon More Expensive Than Manhattan Sparking Boom: Real Estate

Sean Danley has spent the past six months scouting office space in Yangon after being sent to establish the Myanmar branch of his U.S.-based employer. He looked in the city’s three sole 1990s-era towers, where annual rents have climbed to more than $100 a square foot, compared with less than $75 in downtown Manhattan, according […]

Parkson store chain taps Yangon market

Malaysia-based Parkson Departmental Store Chain will open an outlet in FMI Center (near Bogyoke Market) this month, an executive from Parkson FMI department store announced at a press conference yesterday. The upcoming department store is a joint venture of Parkson Retail Asia Ltd., Yoma Strategic Holdings Ltd. (YSHL), and First Myanmar Investment Co. Ltd. (FMI). […]