Memories Group Takes Stake in Three Iconic Yangon Hotels and a Boat Cruise
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
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
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
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
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 […]