Memories Group Takes Stake in Three Iconic Yangon Hotels and a Boat Cruise
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Memories Group Takes Stake in Three Iconic Yangon Hotels and a Boat Cruise The shares purchase agreement will give Memories Group a 15.28% stake in Strand Hotel International Limited which has a 50% interest in The Strand Hotel, Inya Lake Hotel, and Hotel G Yangon and an 80% interest in The Strand Cruise. Consideration of […]
Memories Group Acquires a Portfolio of Assets Including an Island in Myanmar’s Mergui Archipelago
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Memories Group Acquires a Portfolio of Assets Including an Island in Myanmar’s Mergui Archipelago 25 July 2018 Acquiring development rights over 5,100-acres islands, a 24-villa five-star hotel and a 72room three-star hotel The combined purchase price of US$40.7 million will be funded by cash and issuance of new shares The new shares will be issued […]
Memories Group Expands Myanmar Tourism Portfolio by Acquisition of Kayah Resort
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Memories Group Expands Myanmar Tourism Portfolio by Acquisition of Kayah Resort 30 May 2018 Kayah Resort located in Loikaw, Kayah State, is a 26-key boutique hotel set to be repositioned as an upscale resort under Memories Group’s Keinnara brand The deal is the second acquisition for the Group since its listing on SGX-Catalist in January […]
Memories Group FY2018 Revenue Increases 44% to US$8.8 Million
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Memories Group FY2018 Revenue Increases 44% to US$8.8 Million 29 May 2018 Higher revenue in 4Q2018 and FY2018 driven by an enlarged portfolio of assets Net asset value per share increased 154% to 12.5 US cents per share Continues to invest in building a robust integrated tourism platform in Myanmar that aims to generate long-term […]
Memories Group Acquires Burma Boating, Eyes Further Portfolio Expansion
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Memories Group Acquires Burma Boating, Eyes Further Portfolio Expansion 5 March 2018 Deal to purchase luxury yachting business marks the first acquisition by Memories Group as it builds on its integrated tourism platform in Myanmar Burma Boating offers tourists a unique experience in the Mergui Archipelago Mergui Archipelago is expected to receive tourism boost as […]