Yoma Fleet expands into Myanmar’s logistics industry

Yoma Fleet, a subsidiary of Singapore-listed Yoma Strategic Holdings, has launched a truck and trailer rental service, YomaRentals.Asia, targeting logistics companies during periods of peak demand. Logistics is an important sector in Myanmar and the government’s National Logistics Master Plan, drawn up by the transport and communications ministry with aid from the Japan International Cooperation […]

Corporate dynasties join forces to defy Myanmar market gloom

The Pun corporate empire has secured the support of a fellow Southeast Asian business dynasty, signalling their confidence in the future of Myanmar despite the ineffectual economic reforms and uncertain fallout from the Rakhine crisis. Serge Pun says Asian companies still see value in Myanmar and are “smarter” than their Western competitors. Ayala Corp, a […]

SG-Listed Yoma To Acquire More Stake in Myanmar’s Wave Money for $6m

Yoma Strategic Holdings, a Singapore-listed, Myanmar-based diversified group, is acquiring a 10-per cent stake in Digital Money Myanmar (Wave Money), operator of the largest financial services network in the country, for at least $6 million, according to a statement. Yoma said its wholly owned subsidiary, Yoma Strategic Investments Ltd, has entered into an agreement with […]

Wave Money expands network, commissions, and volume

Wave Money, Myanmar’s mobile financial services provider, moved US$1.7 billion in remittance for the first six months of 2019, the company said in a statement. From January to June, the company paid K22 billion ($15 million) in agent commission, which is triple the amount compared to the same period last year ($4 million) and added […]

Economy outlook positive pending reform acceleration, says World Bank

After a period of volatility during the six-month transition period between April and September 2018, growth in Myanmar has stabilised and the economy is expected to expand at a rate of 6.5 percent in the current 2018-19 fiscal year, according to the World Bank’s June 2019 Myanmar Economic Monitor. Supported by higher productivity in the […]

Yoma well placed to tap into Myanmar’s potential economic growth, says DBS

DBS Group Research believes Yoma Strategic Holdings is well placed to tap into Myanmar’s potential economic turnaround, with its diversified portfolio in the property, consumer and automotive sectors. DBS is keeping its “buy” recommendation on Yoma with an unchanged target price of 40 cents, based on a 60% discount to RNAV. Yoma’s real estate business […]

Memories Group Q4 net profit surges to US$6.15m on one-off gain

On the back of a one-off US$8.07 million gain from a bargain purchase, Catalist-listed Myanmar-based tourism firm Memories Group posted net profit attributable to shareholders of US$6.15 million for the fourth quarter ended March 31, 2019. This was more than 11 times the year-ago figure of US$556,000. Gross profit, however, fell 12 per cent to […]

Rice-mad Myanmar eyes diversification of crops

Opening the lid of her rice cooker, a luxury bought when power finally came to their village in central Myanmar three years ago, Tin Aye scooped out two fat ladles for breakfast. “I cannot go without eating rice. Since the start of the day, all my stomach asks for is rice,” said the 52-year-old mother […]

Tokyo Century to buy fifth of Yoma Strategic auto leasing unit as it looks to expand in Myanmar

Tokyo Century Corp. will buy a fifth of Yoma Strategic Holdings Ltd.’s vehicle leasing business in a bid to expand in Myanmar and explore further collaboration with the Southeast Asian conglomerate. The Japanese leasing services firm will buy a 20 percent stake in Yoma Fleet via newly issued shares for $26.6 million, Yoma Group said […]

Yoma Strategic in $26.6m share deal with Tokyo Century to grow Myanmar vehicle leasing business

Mainboard-listed Yoma Strategic Holdings said on Monday (April 22) that Japanese leasing company Tokyo Century Corporation will acquire a 20 per cent stake in its subsidiary Yoma Fleet for $26.6 million by way of newly issued shares. Upon satisfaction of certain conditions to complete the subscription of new shares by Tokyo Century, Yoma Strategic will […]