Myanmar-focused Yoma Strategic Q1 loss widens to US$13.3 million
Singapore-headquartered Yoma Strategic Holdings suffered a net loss of US$13.3 million for its first quarter ended June 30 this year, deepening from a net loss of US$5.6 million a year ago, reported The Business Times. The net loss is mainly caused by lower real estate development revenues and higher finance expenses, Revenues decreased 11.5 percent to US$18.6 million, down from US$21 million in the previous year. This was mainly due to lower contribution from the Yoma Land real estate business, as well as a 76.5 percent year-on-year increase in finance expenses to US$9.6 million. Loss per share was 0.7 US cent, compared to a loss per share of 0.3 US cent for the year-ago quarter.