Yoma Strategic shares fall to lowest since May after Myanmar coup

Yoma Strategic Holdings

03/02/2021 03:22

Feb 3 (Reuters) - Singapore-listed shares of Myanmar-focused
conglomerate Yoma Strategic Holdings Ltd fell to their lowest
since May on Wednesday as trading in its shares resumed after a
two-day halt following the country's military coup.
    Shares of Yoma  YOMA.SI , whose businesses range from
property development to tourism in Myanmar, declined as much as
28.7% to S$0.196 ($0.1472), their lowest since May 6.
    Foreign firms have tried to assess the situation in Myanmar
after a military junta overthrew elected leader Aung San Suu Kyi
on Monday, resulting in protests in the country and condemnation
from several world leaders.  urn:newsml:reuters.com:*:nL1N2K81IC  urn:newsml:reuters.com:*:nL1N2K81SQ
    Yoma, chaired by property tycoon Serge Pun, has in recent
years expanded beyond real estate by partnering with
international companies entering Myanmar.
    It holds the KFC franchise from Yum Brands Inc  YUM.N  and
has a joint venture with Mitsubishi Motors Corp  7211.T  to
distribute the Japanese automaker's vehicles.
    The company said on Tuesday that its businesses had been
intermittently disrupted because of telecom outages in the
aftermath of the coup and that office employees in Myanmar had
been asked to work from home this week.  urn:newsml:reuters.com:*:nSNZfhc4T

($1 = 1.3313 Singapore dollars)

 (Reporting by Shashwat Awasthi in Bengaluru; Editing by
Christian Schmollinger)
 ((Shashwat.Awasthi@thomsonreuters.com))