By Juliet Shwe Gaung
Eurowindow’s first factory in Myanmar is expected to produce doors and windows while the second factory will manufacture other construction materials.
Myanmar last month selected a consortium of local developer Min Dhama Co., Singapore’s Oxley Holdings Ltd. and China’s Sino Great Wall Co. as the preferred bidder for the redevelopment.
It signed a dealership agreement with Yangon-based KT Group to manufacture and supply prefab homes in Myanmar,
Easy Microfinance will use Delta Capital’s investment to accelerate the expansion of its branch network and loan portfolio.
Yoma Strategic’s wholly-owned subsidiary Yoma Fleet will provide vehicle leasing and financing options to Grab’s drivers in the country.
The deal is being seen as a win-win for both. For Yoma Strategic, it means entry into the fintech industry of Myanmar. And, for Wave Money, it translates into access of capital from the SGX-listed firm.
The two Myanmar firms were among 24 startups based in 15 markets around Africa and Asia Pacific
The financing came from a London-based emerging markets-focused fund and Vostok New Ventures, an investment company based in Sweden.
Post acquisition, Wave Money will be owned by Telenor (51%), Yoma Strategic (34%) while FMI and Yoma Bank will hold 10% and 5% respectively.
The acquisition will enable the Group to extend its earning base, and enhance its portfolio exposure to the growing tourism market in Myanmar.