Response by Yoma Development: Myanmar Foreign Investment Tracking Project
Yoma Development did not provide individual answers to our questions, but instead sent the following:
We would like to share with you that the upgrading and operation of Mandalay International Airport is not our first entry to Myanmar. Yoma Strategic was listed on the Main Board of the Singapore Securities Exchange Trading Limited (SGX-ST) in 2006 and has established itself as one of the leading corporations in Myanmar that engaged in real estate, agriculture, automotive, luxury tourism and retail/F&B businesses. The company was ranked in the top 5% of the Singapore exchange’s listed companies in the 2014 Governance & Transparency Index.
The upgrading and operation of Mandalay International Airport is a recent joint venture established between JALUX Inc. (JALUX), Mitsubishi Corporation (MC) each holding 45.5% stake and Yoma Strategic taking a smaller stake of 9%. Please find attached the announcement. Given Yoma Strategic’s stake, we believe Jalux and MC will be in a better position to answers the following questions.
Yoma Development (part of Yoma Strategic)