Hot stock: Yoma falls 17% after denying criminal proceeds from online scam centres used to fund real estate project
It says the project has not required or received external funding in recent years
Add BT as a preferred source
SHARES of Yoma Strategic fell 16.8 per cent on Monday (Aug 19) morning, after it made clarifications to an article published by news agency The Irrawaddy.
The company said there are no investigations by Myanmar authorities involving the group, its directors, employees or businesses.
The article, published on Friday, stated that Yoma’s former executive chairman Serge Pun misused public funds and allegedly used criminal proceeds from online scam centres to invest in the expansion of Star City, a real estate project in port city Thanlyin in the Yangon region.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
