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  Bookmark this page   Saturday, 22 Nov 2014
Today's Headlines
Yoma Strategic Holdings: Partnership to operate Mandalay Airport

Yoma announced that it will take a 9.0% stake in a special purpose company, MC-Jalux Airport Services Co., Ltd. (MJAS), alongside JALUX Inc. (45.5%) and Mitsubishi Corporation (45.5%). MJAS has signed a 30-year concession agreement for the operation and maintenance of Mandalay International Airport, which is scheduled to commence around Mar-2015. In addition, Yoma also completed a rationalization of its Myanmar automotive businesses with First Myanmar Investment Company Limited (FMI) and will acquire FMI’s 30% and 20% stakes in Myanmar Motors and Summit SPA Motors Limited, respectively. Finally, management also announced that it has acquired an additional 20% stake in KOSPA Ltd, a JV established to distribute food produce in Myanmar using vehicles with refrigeration capacity to improve the quality of products being transported to markets. Pending more color regarding the financial impact of these businesses, in particular the airport concession, we opt to keep our fair value estimate of S$0.74 unchanged. Maintain BUY.

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Yoma Strategic Holdings: Partnership to operate Mandalay Airport
Yoma announced that it will take a 9.0% stake in a special purpose company, MC-Jalux Airport Services Co., Ltd. (MJAS), alongside JALUX Inc. (45.5 ...
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