Yoma puts US$80m in Myanmar projects
Firm in major blitz investing in schools, food, logistics and real estate
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…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Australian inflation boosts case for higher-for-longer rates
Gold edges down as Middle East worries ebb
Tesla could start selling Optimus robots by the end of next year, Musk says
Singapore stocks climb at Wednesday’s open; STI up 0.4%
China knockoff raid jolts a global throng of fake-fashion influencers
Singapore-based Amazon execs feel the brunt of job cuts