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Singapore, 4 April 2013 – Yoma Strategic Holdings Ltd. (“Yoma”, “祐玛战略控股有限公司”,
or the “Company” or collectively with its subsidiaries, the “Group”) announced today that it
has together with its affiliate in Myanmar, First Myanmar Investments Co. Ltd (“FMI) joined
forces with the Digicel Group and Quantum Strategic Partners Ltd to form a consortium to
bid for one of the two mobile phone licences expected to be awarded by the Government of
Myanmar later this year. The consortium submitted its pre-qualification bid in Nay Pyi Taw
today as specified by the Government of Myanmar as the first part of the mobile phone
licence process.
YSH and FMI have joined the consortium through a newly created joint venture YSH
Finance Ltd.
Mr Serge Pun, Executive Chairman of Yoma, commented today in Yangon, “Yoma is
delighted to have joined forces with two world class groups to submit its prequalification document today in what we hope will be the first step towards being
awarded a mobile phone licence in Myanmar. If we are successful in our application
process we believe that this consortium will be very well placed to deliver affordable
first class communications to the people of Myanmar which we believe is essential to
ensure the continued economic development of the country.”
Referring to the consortium members, Mr Andrew Rickards, CEO of Yoma, commented,
“The Digicel Group, which is taking the lead in this consortium, is one of the world’s
leading telecoms operators in emerging countries whose experience will be very
relevant to the challenges of rolling out a world class network in Myanmar. Quantum
Strategic Partners Ltd is part of the Soros Group, whose access to capital and
experience of investing in businesses such as this will help ensure this consortium’s
success. We believe both of these leading international groups, combined with the local expertise here in Myanmar of Yoma and FMI, if successful in its application for a
licence, will bring to Myanmar the mobile phone service that its people deserve”
Rich will just get richer !
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