Memories GroupMemories Group takes stake in three iconic Yangon hotels and a boat cruise
- 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 rate of 5% per annum
Download Memories MR – Acq of SHIL
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 at a significant premium of 16.9% over the last traded weighted average price
- Memories Group’s Integrated Tourism Platform now covers seven of Myanmar’s major tourist destinations
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 2018 The acquisition will be funded by cash and issuance of new shares
- The new shares will be issued at a significant premium of 28%
- The Group’s Integrated Tourism Platform now covers six of Myanmar’s major tourist destinations
Download kayah-resort-9QmIy0 30 May 2018
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 sustainable returns for shareholders
- Actively looking to acquire potential assets
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 tender to upgrade the Kawthaung domestic airport to an international airport is in progress
Download burma-boating-acquisition- 5 March 2018
About Memories Group
Memories Group (stock code SGX:1H4), listed on the Catalist board of Singapore Exchange, operates an “Integrated Tourism Platform” in Myanmar with a combination of Hotel, Experiences and Services, which enables a seamless, one-of-a-kind experience and lasting memories. The Group sets its sight on being the leading tourism company in Myanmar in providing an unparalleled customer experience, backed up with best-in-class operational excellence in all sectors that it operates.
Memories Group is affiliated with First Myanmar Investment (stock code YSX:00001) and Yoma Strategic Holdings(stock code SGX:Z59), listed on the Yangon Stock Exchange and Singapore Exchange, respectively, are the flagship companies through which the Yoma Group’s businesses are held. Yoma Group is a conglomerate with a diversified portfolio of businesses in Real Estate, Consumer, Automotive & Heavy Equipment, Financial Services and Investments in Myanmar. The Group boasts a strong record in forming partnerships with leading international companies, as well as bringing expertise and investment into Myanmar.
For enquiries, please contact :
Ms. Sylvia Saw McKaige, Salween Group
+65 9476 2581, +95 9 450 011 066, sylvia.mckaige@salweengroup.com
Ms. May Oo, Memories Group
+95 9 967 000 071, +95 9 771 000 071, mayoo@memoriesgroup.com