Yoma announces changes to the Landmark deal

The Yangon deal is still not set in stone.

Yoma Strategic Holdings has announced adjustments to its development of Yangon’s Landmark site.

According to OCBC, “Instead of acquiring 80% of the Landmark site after the SPA Group secures a master lease extension to 50+10+10 years (as originally planned), Yoma will now acquire the site with its existing leases (comprising two sub-plots with remaining leases of 24 and 26 years respectively) with a first payment of US$43.2m.”

The SPA group is also expected to procure approval for the transfer of the site to Yoma by the end of 2015 from the Myanmar Investment Commission.

Here’s more from OCBC:

Yoma’s pro rata development cost for Landmark will be capped at US$40m till Dec-15, in addition to the S$7m already incurred, and should SPA fail to obtain approval for the transfer by then, it will refund Yoma US$43.2m and all monies disbursed for the Landmark project.

To fund this acquisition, Yoma has proposed a 1-for-8 rights issue at 38 S-cents, expected in Sep/Oct 2014 pending approval from shareholders and the exchange.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia