New Myanmar subsidiary for Yoma
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.