Amara Holdings

Amara Holdings: Likely positive sentiment as grp announced making its entry into Myanmar. Grp announced it had signed a MOU to develop hotels and engage in other real estate projects in Myanmar. The MOU was inked with Youth Force Hotel and Youth Force Construction. The parties plan to establish a JV to collaborate on the development and operation of a hotel in Dagon Township, Yangon, Myanmar. The proposed total investment is estimated to be about US$50m. The grp currently trades at 1.2x P/B.