Yoma puts US$80m in Myanmar projects

YOMA Strategic Holdings stepped up its goal to turn into a conglomerate yesterday by making not one or two, but five major moves to invest more than US$80 million in Myanmar.

The string of announcements by the Singapore-listed Myanmar play shows that the pickings can be rich in a country on the cusp of more political and economic liberal reforms.

First off the bat is Yoma's move into the education sector. The firm, which derives more than 90 per cent of its income from real estate, will set up an international school, a local one and a pre-school to sweeten the proposition of its two major residential property projects Star City and Pun Hlaing Golf Estate in Yangon.

"Our real estate will see a significant increase in demand and prices which are directly related to our investments in schools. We expect a return on investment of between 15 per cent and 30 per cent," said Yoma's executive chairman and Myanmese tycoon, Serge Pun, at a pr…