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Memories Group makes first acquisition in Myeik as tourist interest rises

Mr Serge Pun, executive chairman of Singapore-listed Memories Group, has bought luxury yachting business Burma Boating in Myeik, Tanintharyi Region, for K1.3 billion from Tint Tint Travel and Tours Company and Freepier. It is the first acquisition for Memories Group since the company listed on the Singapore Exchange in January and marks the first step […]

United International Group to Open Five Amata Hotels in 2018-19

United International Group, owner and operator of Amata Hotels in Myanmar, will open five more hotels in the country, U Win Aung, group CEO of United International Group told The Myanmar Times Monday. The company will open two new Amata hotels at Inle Lake and Pindaya in Shan State, two in the Myeik archipelago at Tanintharyi Region […]

Malaysia, Singapore-backed firm acquires tourism business from Serge Pun

SHC Capital Asia, an investment holding company, is planning to acquire MM Myanmar from Mr Serge Pun’s First Myanmar Investment Limited (FMIL), a local conglomerate which is listed on the Yangon Stock Exchange, Yoma Strategic Investments and Exemplary Ventures for S$69.7 million. SHC Capital Asia is backed by Malaysian property developer See Hoy Chan and […]

Yoma Strategic Posts 54% Jump in Q1 Profit

SINGAPORE – Yoma Strategic Holdings said on Wednesday (July 26) that net profit for the first quarter jumped 54 per cent to S$2.8 milion from S$1.8 million in the year-ago period. Revenue for the three months to end-June grew 46.8 per cent year-on-year to S$25.8 million as the Myanmar-focused group saw better operational performance across […]

Yoma Strategic to Spin off Myanmar Tourism Businesses in Reverse Takeover of SHC Capital Asia

SINGAPORE – Yoma Strategic Holdings announced on Monday (Oct 24) that it will be spinning off its tourism-related business as part of a reverse takeover (RTO) of Catalist-listed SHC Capital Asia Ltd. Yoma on Sept 2 announced its intention to partner with other players to establish a new tourism platform engaged in various tourism-related businesses […]

Step-by-step awareness campaign for stock exchange

The backers of the Yangon Stock Exchange are putting together a crash course to introduce it to the public. Dr Maung Maung Thein, chair of the Securities and Exchange Commission of Myanmar, said in the coming months, various stakeholders will be given a look at how the systems behind the exchange work. “We will introduce […]

Yoma sees Q1 net profit jump 78% to $2.56m

SINGAPORE – Mainboard-listed Yoma Strategic Holdings announced on Monday a 77.7 per cent jump in net profit to $2.56 million for the first quarter ended June 30, 2015, from $1.44 million in the year-ago period, as growth in its automotive sales and property rental income more than offset a decline in sales of residences and […]

Luxury hotel agreement signed for former MR headquarters

Hongkong and Shanghai Hotels Limited and Yoma Strategic Holdings Ltd.,have signed an agreement to convert the former Myanmar Railways headquarters in downtown Yangon into a luxury hotel, they announced in a joint news release. The shareholders’ agreement to restore the former MR headquarters on BogyokeAung San Road into a hotel to be called The Peninsula […]