Hot stock: Yoma Strategic sees heavy trading ahead of H1 results release

SHARES of Yoma Strategic Holdings saw heavy trading on Wednesday (May 11) morning, ahead of the May 12 release of its interim financial results for the first half of 2022.

The Myanmar-focused company’s shares rose as much as 7 per cent or S$0.01 to a near 2-week high of S$0.153, as at 9.24 am. The last time the counter traded near this level was on Apr 29.

By 10.40 am, Yoma Strategic’s shares were trading 4.9 per cent or S$0.007 higher at S$0.15. Around 24.7 million shares changed hands, making the counter one of the most actively traded by volume on the Singapore bourse.

Last week, the group announced its intention to release its condensed interim financial results for the 6 months ended Mar 31, 2022 on or about May 12.

The group also recently acquired a 50 per cent stake in MM Cars Myanmar from Japan’s Mitsubishi Corporation for US$1. MM Cars imports and distributes Mitsubishi Motor vehicles and spare parts in Myanmar.

In a bourse filing released on Apr 22, Yoma Strategic said it had been involved in the business of distributing Mitsubishi Motor vehicles in Myanmar through MM Cars and feels “confident in the strength of the brand and the business potential”.