SUBSCRIBERS
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
Published Mon, Aug 19, 2024 · 09:12 AM — Updated Mon, Aug 19, 2024 · 06:00 PM
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.
Copyright SPH Media. All rights reserved.
