MTSH planning a mall for Thilawa SEZ

Myanmar Thilawa SEZ Holdings (MTSH), a Yangon Stock Exchange listed real estate developer with a focus on developing Special Economic Zones (SEZ), is planning to build a mall in the Thilawa SEZ south of Yangon.

MTSH executive director U Thurane Aung declined to say how much the company would be investing as a board decision would be made following a feasibility study. Construction of the mall would begin after the dry season, which runs through October to May.

“The board will make a decision on the height of the mall and the potential returns from the project,” he told the Myanmar Times, adding that the mall would be leased out to well-known mall operators through bidding.

Meanwhile, MTSH chief executive officer U Kyaw Zaw Wai said the company may pay out K250 a share in dividend as a result of the rise in net profit for the financial year ended March 31, 2019(FY19).

MTSH posted a 20.7 percent rise in net profit to K15.60 billion for FY19 compared to the corresponding period of last year.

U Kyaw Zaw Wai said the retained profit for the year under review has risen by 18.4pc to K45 billion compared to the previous corresponding period in FY18.

“A portion of the retained profit will be used for long-term investment,” he said. MTSH closed unchanged at K3,350 on July 9 on overall lackluster market trade. The stock has risen 13.5pc year-to-date.

“We hope to attract more interest to the shares with potential businesses,” U Thurane Aung said, adding that weak market sentiment has put pressure on stock performance.

Besides the mall project in Thilawa SEZ, the company will be conducting a study on a railway project for Thilawa Port as well as investments into Kyaukphyu Port, Rakhine State and Myitkyina economic development zone, Kachin State.

U Thurane Aung said as these projects have large Chinese investments, the company would be following closely developments and news flows to know when to invest. – Translated

Source: Myanmar Times

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