Memories Group buys a stake in Yangon’s Strand

YANGON, 3 May 2019: Myanmar-based Memories Group has invested USD3.19 million in Strand Hotel International Ltd that operates three hotels and river cruise boat. The investment gives the company a minority share in the Strand Hotel, an iconic landmark on the Yangon waterfront, the four-star Inya Lake Hotel, a 27-acre lakeside property in northern Yangon; […]

Memories Group to issue US$3m convertible bonds to buy stake in 3 Yangon hotels, boat cruise

CATALIST-LISTED Memories Group plans to acquire a 15.28 per cent interest in Strand Hotel International, which owns stakes in three Yangon hotels and a boat cruise, by issuing US$3.19 million in convertible bonds, the Myanmar-based tourism company said on Monday before the market opened. Memories entered into a share purchase agreement with Oakframe Investment and […]