Property, fair-value gains boost Yoma Q2

Singapore

YOMA Strategic Holdings' net profit for the fiscal second quarter ended Sept 30 more than trebled to S$10.8 million from S$3.3 million a year ago, thanks mainly to strong sales of residences and land development rights (LDRs) in Myanmar and fair-value gains on completed properties.

With plans to enlarge its land bank in Myanmar and open KFC outlets in Myanmar, the group is confident of sustaining its growth, said group executive chairman Serge Pun.

Yoma had announced just two weeks earlier that it has been selected by US food giant Yum! to be its franchise partner in Myanmar to bring the first KFC restaurant to Myanmar next year. Mr Pun noted that this bodes well for the growth of the group's fast-moving consumer goods/quick service restaurant business division, which is set to become an important pilla…