Singapore-listed Yoma to get US$100m ADB loan for Myanmar projects
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SINGAPORE] The Asian Development Bank has approved a loan of up to US$100 million to Singapore-listed Yoma Strategic Holdings, which the company said it plans to use to invest in infrastructure and logistics projects in Myanmar.
Yoma said US$50 million would be earmarked to build telecom towers, develop cold storage logistics and vehicle fleet leasing. The second half of the loan will fund other projects in transportation, distribution, logistics and other sectors.
Yoma, chaired by tycoon Serge Pun, is trying to expand beyond real estate by partnering with international companies trying to enter the Myanmar market.
Last month, it said it was partnering with Japan's Mitsubishi Corp and Jalux Inc to operate Myanmar's second-largest airport and expand it into a regional hub. It has also tied up with Yum Brands Inc to debut a KFC restaurant in Myanmar in 2015.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
