New Myan­mar sub­sidiary for Yoma

The Myanmar Times - - Business -

Yoma Strate­gic has formed a new Myan­mar sub­sidiary – Pun Hlaing Lodge Ho­tel Man­age­ment – to build a five-star ho­tel on the Pun Hlaing Es­tate.

The new en­tity has US$75,000 in paid-up cap­i­tal, con­sist­ing of 75,000 shares held en­tirely by Yoma Strate­gic, with ap­proval from the Myan­mar In­vest­ment Com­mis­sion.

Pun Hlaing Es­tate is a 652-acre lux­ury de­vel­op­ment that in­cludes a golf course and coun­try club, and Yoma has al­ready sold some 400 prop­er­ties on the site. The firm has plans for over 70 landed town­houses, 20 vil­las and a con­do­minium.

The pro­posed Pun Hlaing Lodge will have around 48 rooms, Melvyn Pun, CEO of Yoma Strate­gic, told The Myan­mar Times. Yoma’s an­nual re­port for 2016 pre­dicted the ho­tel would open in the mid­dle of 2017.

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