Yoma

Yoma: Yoma together with Yum! Brands have announced their intentions to bring the first KFC restaurant to Myanmar in 2015, which will see Yoma acting as Yum! franchise partner. Yoma believes that its tie-up with KFC is an important step to achieving the group’s goal in being a key player in Myanmar's food and beverage sector. With a population of 50m and a growing middle class, Myanmar offers significant consumer opportunity for Yoma to grow KFC over the long term. Myanmar’s growing consumer class is projected to grow from 2.5m today to 19m in 2030, potentially tripling consumer spending by more than threefold. Current valuation at 1.9x P/B for a company with negligible earnings suggests that Yoma’s shares are pricing in a strong anticipated growth outlook. The street has 3 Buys and 1 Hold with a consensus TP of $0.85.