Yoma: Co to act on First Right of Refusal Deed signed on 17 Aug 2006. To acquire the land development rights in respect of an area known as Star City. Star City is located in Thanlyin Township, alongside the Pun Hlaing Links golf course, approx 6 miles South-East of downtown Yangon. It is planned for Star City to comprise more than 9,000 units of apartments and houses, shopping and commercial areas of total 135 acres targeted at Myanmar’s middle class. There are plans for an estate management system, 24-hour security, water supply, cleaning services, and a substation to provide 24-hour electricity to all common areas.
The deed was signed a while ago and co is currently acting on the deed to acquire the land rights.Of note the terms of acquisition has not been agreed yet.
Co currently trades at P/B of 1.0x. It is one of the few companies with exposure in Myanmar and counter has been soaring on recent interest.
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