Yoma / Parkson Retail Asia

Yoma / Parkson Retail Asia: Yoma enters into JV with Parkson Myanmar and First Myanmar Invmt (FMI) to establish and operate dept stores in Myanmar. Recall the memorandum of agreement for this business was first announced 14 Aug ’12. The JV targets to commence business on 31 Mar ’13. Parkson will hold a stake 70%, Yoma 20% and FMI 10%. The JV will have an initial paid capital of US$3m. Yoma is +1.9% at $0.54. Parkson is -0.7% at $1.45, but note the counter goes ex-div today on 3 cts div.