YSX firms disclose mixed prospects ahead of foreign participation

YSX firms disclose mixed prospects ahead of foreign participation

Image result for yangon stock exchangeCompanies listed on the Yangon Stock Exchange (YSX) announced mixed prospects for 2020, the year Myanmar is set to allow direct foreign ownership of equities listed on the bourse. The Securities and Exchange Commission of Myanmar announced last July that non-Myanmar individuals and locally-registered entities would be allowed to invest in listed shares of up to 35 percent.

There are six companies listed on the YSX with a combined market value over K620 billion.The main revenue driver was financial services, led by higher interest income earned from digital credit, mortgages, microfinance and overdrafts. FMI said it will continue to invest in its core businesses, namely financial services, real estate, healthcare and tourism.

The financial services sector is expected to continue growing at a “remarkable” rate, with its subsidiary, Yoma Bank, aiming to lend largest sums of money to the small and medium-sized enterprise (SME) segment this year.Things were rougher for TMH Telecom Public Limited (TMH). The firm announced revenues totaling K2.9 billion for the year ended September 31, 2019, which is 45pc lower than the half year ended September 31, 2018. This was because it cut under-performing projects and mainly focused on more viable long term investments during the period.

Source: Global New Light Of Myanmar

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