Yoma Strategic Holdings Ltd. · SGX:Z59
Yoma Strategic — Corporate Update (June 2014)
14 slides from Yoma Strategic's corporate update, June 2014
Slide 1: Update on Landmark Development
Update on Landmark Development June 2014
Slide 2: Disclaimer
Disclaimer The material presented herein is for your general information only and nothing herein shall be considered to be business or legal advice. No representation, warranty or recommendation whatsoever as to the merits of investing in any company, entity or financial instrument is to be read or
Slide 3: Executive Summary
Executive Summary A summary of Landmark Development Project Key Variations to the Proposed Acquisition* – Lease terms of the sites – Payment Terms – Approval from Myanmar Investment Commission (MIC) Proposed Right Issue Rationale for the Proposed Acquisition *To be read in conjunction with t
Slide 4: Landmark Development
Landmark Development Signed S&P agreement with SPA on 19 Nov 2012 to acquire 80% Landmark Development Project at an c.S$99.16m (US$81.28 m) Acquisition approved by shareholders at EGM on 28 Feb 2013 Landmark Development Project sits on 2 plots of land – Site 1 which is 9.5 acres – Site 2 which
Slide 5: Landmark – Centrally located
Landmark – Centrally located 5
Slide 6: Current landscape
Current landscape Grand Meeyahta Hotel Building FMI Centre Former Burma Railway Company HQ
Slide 7: Future landscape
Future landscape YOMA KEY CONCEPTS: CREATING A DISTINCTIVE CITY CENTRE CREATING A NEW CIVIC DESTINATION CREATING STRONG CONNECTIVITY CREATING A SUSTAINABLE LIVING ENVIRONMENT CREATING A SAFE AND SECURE CITY CENTRE
Slide 8: Proposed key variations
Proposed key variations SPA informed that negotiation for the extension of the master lease is still ongoing Company agreed to vary the terms of the Proposed Acquisition with SPA to complete the acquisition Variation of the terms includes: – Acquisition of existing leases of the sites – Paymen
Slide 9: Variation in lease terms
Variation in lease terms Proceed with the Landmark Development Project by initially acquiring the existing leases on the two sites – Site 1 has a lease term of 30 years with an extension of 10 years from 1998. i.e a remaining lease of c.24 years – Site 2 has a lease term of 30 years with an extens
Slide 10: Variation in payment terms
Variation in payment terms Acquisition price: US$81.28 million* First Payment: Remaining Payment: US$43.2 million Up to US$38.08 million Value is derived based on • To be paid when the leases Jones Lang LaSalle’s for the 10-acre site have valuation on remaining been extended term of 24 years which i
Slide 11: Approval from MIC
Approval from MIC SPA will procure the approval of MIC for the transfer of 80% in MIHL to the Company or its nominee by 31 Dec 2015 Pro rata development cost capped at US$40 million for the period until 31 Dec 2015 – In addition to the S$7 million* already incurred by the Company SPA will refu
Slide 12: Proposed right issue
Proposed right issue Current 1 for 4 rights issue at 38 Singapore cents per share will expire at the forthcoming AGM Propose a new 1 for 8 rights issue at 38 Singapore cents to fund the first payment of the Proposed Acquisition as amended by the proposed variations Serge Pun has indicated his
Slide 13: Rationale for the proposed acquisition
Rationale for the proposed acquisition Prime location – site to be developed into one of downtown Yangon’s iconic commercial and residential areas Lack of quality commercial space and hotel rooms Cements the Group’s position as one of the leading developers in Myanmar The Group will continue
Slide 14: Questions & Answers
YOMA STRATEGIC HOLDINGS LTD. Questions & Answers
Yoma Strategic Holdings — Corporate Update (June 2014) on 6ix