Yoma

Yoma: OCBC note that Yoma and FMI has joined the consortium (see posting at 9:06:02 am for more info) through a newly created 80:20 joint venture YSH Finance Ltd, but Yoma’s eventual effective stake in the consortium is yet unclear. Also, expect fierce competition for the mobile licenses from a host of contenders, including a Vodafone-China Mobile tie-up and other major telco players such as SingTel, Telekomunikasi Indonesia, Malaysia's Axiata Group Bhd, Norway's Telenor ASA and India's Bharti Airtel Ltd. Add that since house downgraded Yoma to a SELL on 1 Feb 2013 with a fair value estimate of $0.71, the share price has corrected 17.2% from $0.90 to $0.745. Now put rating and fair value estimate UNDER REVIEW.