Yoma Incorporates Yangon Auto Subsidiary

Singapore-based Yoma Strategic Holdings Ltd said it has incorporated a new automobile subsidiary in Yangon. The new company, Yoma German Motors Limited, will sell and service Volkswagen passenger cars in Myanmar, the Myanmar focused company, owned by tycoon Serge Pun, said in a stock exchange filing in Singapore. The paid up capital for the new […]

Ex-banker builds on father’s property business

Yoma’s new CEO eyes diversified plate of projects in Myanmar Taking over the reins of his father’s business was not a move Mr Melvyn Pun had envisioned. “It was totally unexpected,” says Mr Pun, 37, now chief executive at Singapore-listed property and construction group Yoma Strategic Holdings. The former Goldman Sachs investment banker was appointed […]

Yoma hails Landmark breakthrough

A senior Yoma Strategic Holdings official has hailed as “hugely significant” a recent agreement signed with the Ministry of Rail Transport that paves the way for work to start on a US$400 million-plus development project in downtown Yangon. The company announced yesterday that it signed a framework agreement on December 31 with the ministry regarding […]

IFC signs second convertible loan with local bank

The World Bank’s International Finance Corporation (IFC) will issue a US$7 million convertible loan to Myanmar Oriental Bank (MOB), to help finance small and medium enterprises (SMEs). This is the second such loan issued by the IFC in Myanmar – last September it signed with Yoma Bank for a $5 million convertible loan, also to […]

Yoma Strategic chief executive talks leadership transition

Yoma Strategic Holdings chief executive Andrew Rickards is stepping down next month after a nearly four-year term, though remains bullish on Myanmar’s long term prospects.  As the best-known Myanmar-focused company listed on a foreign exchange, Yoma Strategic has attracted business and investors eager to participate in what’s sometimes touted as the last frontier economy. Yoma […]

Yoma Strategic appoints new CEO in July

Mr Melvyn Pun will be taking over from Mr Andrew Rickards, who will step down as CEO and Executive Director at the company’s Annual General Meeting on Jul 27. SINGAPORE: SGX Mainboard-listed firm Yoma Strategic has announced a management change with Mr Melvyn Pun taking over as its Chief Executive Officer from end July. Mr […]

Carlsberg puts on a Bago show

“PROBABLY a big day in Myanmar,” read the hop-shaped banners strung from telegraph poles along the road through Nyaung Inn Village Industrial Zone in Bago Region. Alongside construction sites for new factories – Perfect Companion Group, Karisma Apparel – is the dark green Carlsberg factory, the slogan “probably the best beer in the world” emblasoned […]

Yoma shares surge on lease extension for key Myanmar site

SINGAPORE — Property developer Yoma Strategic Holdings has won approval from the Myanmar Investment Commission for a lease extension that will let it redevelop the former headquarters of the Burma Railways Company into a five-star hotel. The approval, obtained after protracted negotiations with the authorities, yesterday drove shares of Singapore-listed Yoma sharply higher amid heavy […]

Yoma Claims Bumper Sales at Galaxy Towers

Almost 20 percent of the first release units of Yoma Strategic Holdings Ltd’s new residences at its flagship Star City project were reserved during the initial 24 hours of sales, the Singapore-based, Myanmar-focused conglomerate said. Yoma claimed it experienced “strong” sales at Galaxy Towers as it opened sales in mid-February and that “dozens of apartments […]

Yoma gets Landmark lease extension from Myanmar authority

Yoma Strategic Holdings has received approval from the Myanmar Investment Commission (MIC) for the extension of the Landmark lease, for the redevelopment of the former headquarters of the Burma Railways Company into a five-star hotel. “The company is delighted that this decision has been reached by the MIC after a protracted period of negotiations with […]