Yoma

Yoma: Group announced the incorporation of new JV company in Myanmar, Myanmar Motors Pte Ltd. Myanmar Motors will be a 70% subsidiary of the Group and the remaining 30% will be held by Serge Pun & Associates (FMI). The Company and FMI intend to use Myanmar Motors as the joint venture entity to hold the parties’ joint investments in the automobile business in Myanmar. With the opportunities emerging in different sectors of the economy in Myanmar, the Company wants to capitalize on these developments and expand its automobile business in Myanmar. Also, an MOU was entered with Mitsubishi Motors on the after-sales service business. The recent deregulation of automobile importation in Myanmar saw the distribution of Mitsubishi Motors vehicles, and there was no official after sales service network in Myanmar. MOU sees the Companies establishing an official service centre firstly in Yangon followed by Mandalay and Nay Pyi Taw.