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Yoma Strategic shares fall to lowest since May after Myanmar coup

Feb 3 (Reuters) - Singapore-listed shares of Myanmar-focused conglomerate Yoma Strategic Holdings Ltd fell to their lowest since May on Wednesday as trading in its shares resumed after a two-day halt following the country’s military coup.

Shares of Yoma, whose businesses range from property development to tourism in Myanmar, declined as much as 28.7% to S$0.196 ($0.1472), their lowest since May 6.

Foreign firms have tried to assess the situation in Myanmar after a military junta overthrew elected leader Aung San Suu Kyi on Monday, resulting in protests in the country and condemnation from several world leaders.

Yoma, chaired by property tycoon Serge Pun, has in recent years expanded beyond real estate by partnering with international companies entering Myanmar.

It holds the KFC franchise from Yum Brands Inc and has a joint venture with Mitsubishi Motors Corp to distribute the Japanese automaker’s vehicles.

The company said on Tuesday that its businesses had been intermittently disrupted because of telecom outages in the aftermath of the coup and that office employees in Myanmar had been asked to work from home this week. ($1 = 1.3313 Singapore dollars) (Reporting by Shashwat Awasthi in Bengaluru; Editing by Christian Schmollinger)

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