Myanmar conglomerate to offer loans online using Alibaba tech

YANGON — Yoma Group plans to use credit analysis technology to help it vet loan offers to consumers and small businesses, with support from Chinese e-commerce giant Alibaba Group Holdings, as the Myanmar conglomerate looks to tap a market of over 40 million unbanked residents. The plan is currently in the preliminary discussion stage between […]

Yoma Strategic to buy controlling stake in e-payment firm Wave Money

Yoma Strategic on Wednesday (June 24) said it would acquire a controlling stake in Wave Money, one of Myanmar’s leading mobile payment companies, for US$76.5 million. Under the deal, Norwegian Telenor Group will sell its existing 51 percent stakes to Yoma MFS Holdings (Wave Holdco), a company established with $25 million capital from Singapore-listed Yoma […]

Yoma and Mastercard partner to enhance e-commerce

Yoma Bank and Mastercard, on June 18, signed an MoU that will enable the bank to substantially expand its digital offerings and accelerate the advancement of Myanmar’s digital economy. The E-commerce industry, still at the nascent stage, is booming amid the pandemic as users turned to online shops and delivery services while staying at home […]

Yoma Strategic sinks into the red with US$15.9m H2 2020 net loss

MYANMAR-FOCUSED Yoma Strategic Holdings has sunk into the red with a net loss of US$15.9 million for the six months ended March 31, 2020, compared with a net profit of US$20.6 million a year ago. This comes amid an increase in interest expenses and administrative expenses, partially offset by a lower share of losses of […]

Yoma Car Share Opens New Rental Hubs

Self-drive car rental service Yoma Car Share recently opened a new rental hub in front of Terminal 2 at Yangon International Airport and another in front of the Capital Hypermarket in Thaketa Township. “With 24 rental hubs in Myanmar, we are ready to fulfill the diversified mobility needs of corporate and individual customers,” said Yoma […]

Ayala and Yoma team up to close Myanmar’s infrastructure gap

Conglomerates’ power and water plans promise to help offset limited public funds A girl collects drinking water outside Yangon: Myanmar’s economic development hinges on the construction of more modern infrastructure. © Reuters YANGON — If there is one thing Myanmar needs, it is infrastructure. Now, Yoma Group, one of the country’s biggest conglomerates, is looking […]

Singapore-listed Yoma in tie-up with Ayala unit for renewable energy projects in Myanmar

SINGAPORE – Myanmar-focused Yoma Strategic Holdings said on Monday it will form a strategic partnership with AC Energy, the energy platform of Philippine conglomerate Ayala Corporation. The two companies are looking to establish a 50:50 joint venture (JV) to scale up Yoma Micro Power (S) Pte Ltd (YMP) and to explore developing around 200 megawatts […]

Yoma Strategic buying Myanmar restaurant chain Yankin Kyay Oh for 19.4b kyat

Mainboard-listed company Yoma Strategic Holdings will be acquiring a 65 per cent stake in one of Myanmar’s largest restaurant chains, Yankin Kyay Oh Group of Companies Limited (YKKO), for around 19.4 billion kyat (S$17.1 million), the company said in a media statement. The amount, to be funded by internal resources and recent financing activities, took […]

Danish Minister for taxation visits Myanmar

The Danish Ministerial delegation, led by Minister of Taxation Karsten Lauritzen paid a visit to Myanmar on 17-20 January 2019 The purpose of the visit is to exchange the viewpoint about tax policies and conditions for foreign companies in Myanmar. At the first day of the visit, Karsten Lauritzen paid a visit to Carlsberg, the […]

Yoma Land targets middle-income buyers with new property project in Yangon

Yoma Land this month introduced a new real estate project targeted at middle-income earners. The firm, an umbrella branch of Yoma Strategic and First Myanmar Investment Company, on December 21 launched City Loft, a new property project targeting young working professionals. The property will be developed in phases at a 22-acre site within Yoma’s Star […]