On 23rd June 2022, Singapore. YSH announced that the long stop date for a mobile payment joint venture (JV) in Myanmar and the proposed completion of acquisition of controlling interest in Digital Money Myanmar Limited from Telenor Group has been extended to 14/9/2022. All other terms in the proposed new acquisition remain unchanged. Source: YSH […]
Long-stop date for Yoma Strategic to acquire controlling interest in Digital Money Myanmar Limited extended to 14 September 2022
June 23, 2022 by
Yoma reports 17.7% lower Q1 revenue but says profitability improved
February 14, 2022 by
MAINBOARD-LISTED Yoma Strategic Holdings Yoma Strategic : Z59 +6.08%, in a business update on Monday (Feb 14), reported group revenue of US$24.4 million for the Q1 ended Dec 31, 2021, down 17.7 per cent from its US$20.8 million in Q1 FY2020. The group, however, said its core operating Ebitda (earnings before interest, taxes, depreciation and […]
Yoma Fleet expands into Myanmar’s logistics industry
February 13, 2020 by
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
December 4, 2019 by
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
November 13, 2019 by
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
July 30, 2019 by
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
June 25, 2019 by
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
June 18, 2019 by
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
June 7, 2019 by
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
May 10, 2019 by
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 […]
