{"id":4449,"date":"2019-11-14T11:04:53","date_gmt":"2019-11-14T04:04:53","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4449"},"modified":"2021-06-04T14:45:00","modified_gmt":"2021-06-04T07:45:00","slug":"ayala-corp-serge-pun-partner-investment-deals-in-myanmar","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/ayala-corp-serge-pun-partner-investment-deals-in-myanmar\/","title":{"rendered":"Philippine corporate powerhouse invests in $238 million deal in Myanmar"},"content":{"rendered":"

Including real estate in a country that has always struggled to attract foreign investments<\/p>\n

\"\"
Shwedagon Pagoda, Yangon, Myanmar. ESBProfessional\/Shutterstock<\/figcaption><\/figure>\n

Ayala Corp., one of the Philippines\u2019 biggest and most diversified business groups, has planned to invest USD238 million in two Singapore-listed businesses based in Myanmar, reported Nikkei Asian Review<\/a>.<\/p>\n

Ayala wanted to acquire a 20 percent stake in First Myanmar Investment and Yoma Strategic Holdings, both led by Myanmar tycoon Serge Pun.<\/p>\n

“Myanmar is one of the fastest-growing economies in the [Association of Southeast Asian Nations], with very similar potential to the Philippines regarding consumer [products], real estate, and financial services,\u201d explained Jose Teodoro Limcaoco, Ayala Chief Financial Officer.<\/p>\n

“Yoma group has interests in those areas.”<\/p>\n

More: Thai property developer eyes Myanmar for next investment project<\/strong><\/a><\/p>\n

Limcaoco said that Ayala will be financing the two deals from the USD400 million bonds they floated a month ago.<\/p>\n

“While the price we are paying is at a premium to the current market price of their shares, Myanmar-related shares have taken a big beating of late,” he further added. “Our purchase is at close to a 20 percent discount to our internal valuations.”<\/p>\n

Last month, Ayala and Yoma signed a deal for 200-megawatt renewable energy in Myanmar costing at least USD30 million.<\/p>\n

A Yoma official, who declined to be named, said that the latest deals would pave the way for a \u201clong-term, strategic partnership\u201d with the corporate powerhouses as they work together on several projects, including real estate.<\/p>\n

Ayala revealed their intent to collaborate with Yoma \u201cacross the board,\u201d which also includes electronic payments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Including real estate in a country that has always struggled to attract foreign investments<\/p>\n","protected":false},"author":9,"featured_media":20365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[112,193],"class_list":["post-4449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-foreign-investment","tag-myanmar","news_country-myanmar","news_author-property-report"],"acf":[],"yoast_head":"\nPhilippine corporate powerhouse invests in $238 million deal in Myanmar | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/ayala-corp-serge-pun-partner-investment-deals-in-myanmar\/\" \/>\n<meta property=\"og:locale\" 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