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Philippine giant Ayala takes 20% stake in Yoma as Singapore firm swings to $60m Q2 loss

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SINGAPORE - Myanmar-focused Yoma Strategic Holdings said on Thursday (Nov 14) that Philippine conglomerate Ayala Corporation has invested US$155 million for a maximum 20 per cent stake in the company, maing it the second-largest shareholder.. Read more at straitstimes.com.

SINGAPORE - Myanmar-focused Yoma Strategic Holdings said on Thursday that Philippine conglomerate Ayala Corporation has invested US$155 million for a maximum 20 per cent stake in the company, making it the second-largest shareholder.

Looking ahead, Yoma said the collaboration is significant and expected to"substantially strengthen" the group's foundation for future growth. It will allow the group to accelerate the expansion of its core businesses, along with leveraging the experience and expertise of Ayala as a strategic partner.

Loss per share for the quarter was 2.33 US cents, from earnings per share of 0.99 US cent a year ago.

 

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