Yoma Strategic’s Landmark projects approved by Myanmar Investment Commission

SINGAPORE (Jan 13): Yoma Strategic says its Landmark development projects have been approved by the Myanmar Investment Commission and listed as Permitted Investments (1/2017).

The developments are located at Bogyoke Aung San Road and the former headquarters of the Burma Railway Company which will be turned into “The Peninsula Yangon”.

“This is a major milestone towards satisfaction of conditions in the company’s shareholders agreements with its respective joint venture partners. The company will work with these partners to finalise the Landmark Projects,” says CEO Melvyn Pun in its filing.

In its efforts to cut red tape and encourage foreign direct investments, Myanmar introduced a new investment law to consolidate the existing Foreign Investment Law and the Myanmar Citizens’ Investment Law and unify the investment code.

Shares of Yoma closed at 58 Singaporean cents on Thursday. — theedgemarkets.com.sg

from TheEdgeProperty.com http://www.theedgeproperty.com.my/content/1038066/yoma-strategic’s-landmark-projects-approved-myanmar-investment-commission

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s