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Myanmar Strategic reports narrowed loss in first half after EXERA buy

Myanmar Strategic Holdings Ltd on Thursday said its loss narrowed in the first half of its current financial year following the acquisition of EXERA.

The stock was untraded on Thursday at USD10.00 a share.

The investment company said its loss narrowed in the six months to September 30 to USD897,968 from USD1.1 million reported for the same period a year earlier, as revenue multiplied to USD1.9 million from USD325,490.

Underlying revenue of managed and owned businesses more than doubled year-on-year to USD3.0 million, of which 44% was derived from Services, 41% from Education and 15% from Hospitality.

Services division was created following the acquisition of EXERA, one of Myanmar’s providers of security & risk management services, for USD2.2 million.

The number of direct and indirect full time employees increased to 1,400 from 171 as at March 31 last year.

“While pursuing further growth opportunities, MSH’s management remains focused on controlling costs and generating synergies across the group’s divisions, to further enhance the group’s prospects going forward,” said Chief Executive Officer Enrico Cesenni.

SOURCE: MORNING STAR

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