- Yoma Strategic (SGX:Z59)'s 1HFY25 revenue declined 15% y-o-y to US$111.6mil due to a 55% depreciation in the Myanmar kyat (MMK). In local currency terms, revenue would have expanded 35% y-o-y, supported by an 81% jump in Yoma Land revenue.
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- MMK depreciated 55% based on the published bank board rates used as Yoma Strategic’s exchange rates assumptions. Yoma Strategic will diversify its funding sources to mitigate currency risk by tapping into local currency bank loans. Other measures include adjusting pricing strategies across various products and services. The aim is to continue to deleverage from the current net debt of US$142mil to below US$100mil (excluding the Yoma Central project loan facility). Completing and delivering the Estella housing residential project will also improve operating cash flows.
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The Positive
81% jump in property development revenue.
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