Yoma to sell trucks in Myanmar

YOMA Strategic Holdings, known more as a Myanmar property play, has made further headway in its drive to broaden its burgeoning automotive interests in the country.

The Singapore-listed company, together with its partner Serge Pun & Associates (Myanmar) (SPA), has entered into a joint-venture (JV) agreement with Japan's Sumitomo Corporation to distribute and operate authorised service stations for Hino-brand trucks and buses in Myanmar.

The three parties will establish a JV company in Myanmar with an initial issued and paid-up capital of US$3 million comprising three million ordinary shares.