In the heart of Yangon, the commercial capital of Myanmar, the former headquarters of Myanmar Railways is surrounded by white steel frames. The historic redbrick building, more than a century old, is being restored and will be the future site of the Peninsula Yangon, a luxury hotel set to open in 2021. The grand structure […]
Yoma to take 34% stake in mobile payment provider Wave Money in new financial services move
March 9, 2018 by
SINGAPORE – Yoma Strategic Holdings on Tuesday announced plans to acquire a 34 per cent stake in Digital Money Myanmar Co, Ltd (Wave Money) from First Myanmar Investment Company Limited (FMI) for US$19.4 million. The mainboard-listed company said the acquisition will spearhead its expansion into the financial services sector that will target the underserved markets […]
This ex-Goldman banker quit to take over an empire in Myanmar
January 23, 2018 by
SINGAPORE — When Melvyn Pun agreed to take his former boss to Myanmar in 2012, little did he know that the trip would cause him to quit his high-profile job at Goldman Sachs Group. Melvyn had wanted to stay as head of corporate sales for Asia excluding Japan at Goldman, rather than join his father […]
TTCL Plans Two Power Plants in Myanmar Worth $6 Bn
June 14, 2017 by
TTCL, an integrated engineering procurement and construction firm listed on the Stock Exchange of Thailand, plans to invest more than US$6 billion (Bt204 billion) between the second half of this year and 2020 to establish two coal-fired power plants in Myanmar, chief financial officer Gobchai Tanasugarn said. TTCL is a joint venture between Italian-Thai Development, […]
Yoma Strategic to Spin off Myanmar Tourism Businesses in Reverse Takeover of SHC Capital Asia
October 25, 2016 by
SINGAPORE – Yoma Strategic Holdings announced on Monday (Oct 24) that it will be spinning off its tourism-related business as part of a reverse takeover (RTO) of Catalist-listed SHC Capital Asia Ltd. Yoma on Sept 2 announced its intention to partner with other players to establish a new tourism platform engaged in various tourism-related businesses […]
Keppel Land divests Sedona Hotel Mandalay
October 11, 2016 by
KEPPEL Land has entered into a conditional sales and purchase agreement to divest its entire stake in Wiseland Investment (Myanmar) – which owns Sedona Hotel Mandalay – to Eden Hotels and Resort Co for US$41 million. The divestment, which comes on the heels of Keppel Land’s investment in Junction City Phase Two in Yangon, is […]
Malaysian healthcare group IHH to build Yangon Parkway hospital
January 27, 2016 by
Malaysian firm IHH Healthcare is building a US$70 million 250-bed hospital in Yangon through a Singaporean subsidiary, which will help efforts to train local Myanmar health professionals, the company said. The new Parkway Yangon Hospital is IHH’s first in Myanmar, although the company plans to build more in the future, a Parkway Pantai spokesperson told […]
Yoma’s Pun Seeks New Myanmar Stock Exchange’s First Listing
December 7, 2015 by
First Myanmar Investment Co., a conglomerate controlled by businessman Serge Pun, is aiming to be the first publicly traded company on the Myanmar stock exchange. Pun, who is also chairman of Singapore-listed developer Yoma Strategic Holdings Ltd., said in an interview that First Myanmar doesn’t plan to sell any new shares. The company, which has […]
