Yoma shares dive as it discloses meetings with Myanmar authorities

Yoma Strategic Holdings

10/07/2024 05:16

SINGAPORE, July 10 (Reuters) - Shares in Myanmar-focused
conglomerate Yoma Strategic Holdings  YOMA.SI  fell nearly 17%
in Singapore on Wednesday after the company said Executive
Chairman Serge Pun was cooperating with authorities in the
capital Naypyitaw on bank business matters.        
    "There are no charges filed against him," the company said
in a statement, adding that Pun had been meeting with
authorities including the central bank. 
    "As a responsible business organisation in Myanmar, the
group engages with the relevant government ministries and
regulators from time to time." 
    Pun is a property tycoon whose interests have expanded into
financial services, food and auto sales. 
    Yoma stock dropped as much as 21.5% in early trade and was
last down 16.7% at S$0.1319 ($0.098), its lowest for two weeks. 
    
    ($1 = 1.3496 Singapore dollars)

 (Reporting by Tom Westbrook; Editing by Tom Hogue)
 ((tom.westbrook@tr.com; +65 6973 8284;))