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Yoma to snap up YKKO for $12.6m

Conglomerate Yoma Strategic will acquire a 65 percent-stake in Myanmar restaurant chain YKKO in a deal worth US$12.6 million. YKKO – formally known as Yankin Kyay Oh Group of Companies – was founded in 1988. It has humble beginnings as a small, family-run restaurant in Yangon’s Yankin but now boasts 37 outlets in the three […]

Yoma snags franchise deal to bring Auntie Anne’s pretzels to Myanmar

YOMA Strategic Holdings on Wednesday said it has signed a franchise agreement with Focus Brands to bring the Auntie Anne’s brand of hand-rolled soft pretzels to Myanmar with the first store in Yangon to be opened in the coming months. In a joint release, the companies added that they have a “more ambitious expansion planned […]

Harley-Davidson Opens Showroom in Mandalay

MANDALAY — The American motorcycle manufacturer Harley-Davidson opened its first authorized showroom and service center in Myanmar on Saturday in Mandalay. Mandalay has drawn the attention of motorcycle dealers, with numerous motorcycle clubs and riders. “With Myanmar’s recent economic development and a large community of riders in Mandalay, it was a logical place for us […]

This ex-Goldman banker quit to take over an empire in Myanmar

SINGAPORE — When Melvyn Pun agreed to take his former boss to Myanmar in 2012, little did he know that the trip would cause him to quit his high-profile job at Goldman Sachs Group. Melvyn had wanted to stay as head of corporate sales for Asia excluding Japan at Goldman, rather than join his father […]

Yoma Strategic Holdings profits drops 5.8% to $3.7m in Q2

Blame the lack of a $14.7m fair value gain from their telco towers investment. Yoma Strategic Holdings’ (Yoma) profits crashed by 56.8% YoY to $3.7m in Q2. According to OCBC Investment Research, there was an absence of a $14.7m fair value gain on the telecommunications towers investment which was recognised in Q2. Revenue grew 32.9% […]

Yoma Strategic profits from equipment sales, KFC expansion in Myanmar

On October 27, Yoma Strategic, an affiliate of First Myanmar Investments Company (FMI), which is listed on the Yangon Stock Exchange (YSX), announced a strong set of financial results for the period ended September 30. The company announced revenues amounting to S$59 million for the six months to September 30, 2017, representing an increase of […]

Myanmar’s New Struggle: Keeping Foreign Investors Happy

A pariah state for decades, Myanmar’s recent emergence from economic isolation has attracted foreign companies and investors intrigued by the Southeast Asian nation’s untapped potential, abundant natural resources and low wage workforce. The first U.S. fast food restaurant, KFC, opened in 2015 and other assorted Western and Asian brands have popped up across the nation’s […]

Inflation lurks over Myanmar’s favorite meal

YANGON — Shan khauk-swe is a noodle dish widely devoured in Myanmar. Many street stalls in Yangon, the largest city, serve the ethnic delight, originally from the northeastern state of Shan. And despite rising prices and foreign fast-food options — Myanmar people still eat it up. A bowl of shan khauk-swe consists of rice noodles […]

KFC to open in Mandalay

Kentucky Fried Chicken’s expansionist designs on Myanmar will forge ahead in 2017, with branches set to open in Mandalay, Yangon and two yet-to-be-announced locations. KFC Myanmar administration director JR Ching told The Myanmar Times that since the first KFC in Yangon opened in July 2015, there are now seven branches in the city. Three more are slated to open […]

Tapping Into Myanmar’s New Taste for Foreign Food

As their nation emerges from decades of isolation, the people of Myanmar are developing appetites for new and foreign things, especially food and drink. Imports of foods and beverages have skyrocketed since 2011, driven by rising incomes, urbanisation and the influence of foreign media. Imported condiments, such as MSG, instant cooking paste, seasoning powders and […]