Memories 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

Download  media-release-acq-of-smah-VmGwKc 25 July 2018

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

Key Highlights

  • 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 memories-group-4q2018-results-SdTW1y 29-may-2018

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,

Ms. May Oo, Memories Group

+95 9 967 000 071, +95 9 771 000 071,