Cedar Strategic Holdings eyes Myanmar luxe project

Singapore

PROPERTY investment group Cedar Strategic Holdings (CSH) is hoping to capture a 49 per cent effective stake in a mixed-use luxury development project in Yangon, Myanmar - marking its first step into the country.

To do so, the Catalist-listed firm has entered into a sale and purchase agreement to acquire all of the issued and paid-up shares of DAS for approximately US$24.9 million. The latter currently holds a 70 per cent controlling stake in Uni Global Power (UGP), which in turn owns a 70 per cent stake in the developer of the Yangon project.