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 US$3.19 million payable through the issuance of unlisted convertible bonds with a coupon […]

Memories Group Expands Myanmar Tourism Portfolio by Acquisition of Kayah Resort

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 2018 The acquisition will be funded by cash and issuance of new shares The […]

Memories Group FY2018 Revenue Increases 44% to US$8.8 Million

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 sustainable returns for shareholders Actively looking to acquire potential assets Download full […]

Memories Group Acquires Burma Boating, Eyes Further Portfolio Expansion

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 tender to upgrade the Kawthaung domestic airport to an international airport is […]