MTSH reiterates plans to invest in Kyaukphyu, Thilawa

Myanmar Thilawa SEZ Holdings (MTSH), which is listed on the Yangon Stock Exchange (YSX), has plans to invest in two of the three special economic zones (SEZ) in Myanmar. These include the deep sea port project in Kyaukphyu, Rakhine, and a multi-modal logistics hub in Thilawa, Yangon. It will also invest in the Myitkyina Economic Zone, said U Myo Mint Aung, Head of Finance at MTSH, without providing further details.

This is in line with the company’s claims in March, when U Aung Soe Tha, MTSH managing director, said that the company would invest in more SEZs and focus on development projects in Yangon to achieve more growth.

The Myitkyina Economic Zone was established in May after the government signed an MOU with a Chinese company, Yunnan-Hteinchone-Htein Chon-Hein Rong Investment Co, to develop the area.

“Currently, MTSH is studying these projects. If there are any further developments we’ll update our website and inform YSX,” said U Myo Mint Aung.

MTSH’s objectives are to calibrate its strategy and business plan to better align with current trends in real estate. In accordance with Colliers International Myanmar, the company believes industrial real estate will show “strong resilience,” according to the company’s 2017-18 annual report.

MTSH currently owns a 41 percent stake in Myanmar Japan Thilawa Development Limited, the operator and developer of a certain portion of Thilawa SEZ.

MTSH also owns 80pc of Thilawa Property Development Limited, a real estate company which holds residential and commercial land. The company’s projects include the Thilawa Garden City as well as constructions works, small retail houses, shopping malls and workers accommodation.

Shares of MTSH closed September 12 at K2,900 each. A total of 11,977 shares exchanged hands, nearly double the volume traded on September 11. The company has a market value of K112.9 billion kyat.

The YSX will release rules under the recently enforces Myanmar Companies Law, which could allow foreigners to trade on the local bourse and take stakes of up to 35pc in listed companies, before the end of the year, U Yin Zaw Myo, managing director of the YSX, said earlier this week.

Source: Myanmar Times

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