Two Singapore-listed firms have signed deals to expand operations in Myanmar and Indonesia. Both Yoma Strategic Holdings and LHN Limited have reached agreements in Myanmar to build and operate an international school and a Home office-style serviced residence respectively.
Yoma to spend $40m for Myanmar school venture
Singapore-listed Yoma Strategic Holdings Ltd said it had signed legal agreements with Education Index Management (EIM) to design, build and operate a premium international school in Myanmar that will cate to foreign students from 2 to 18 years of age.
The total development cost for the international school – excluding the cost of the land development rights – is expected to be approximately $40 million on completion, subject to finalisation of design and quantity surveys, the company said in its regulatory filing.
Academic and operational management of the school will be overseen by EIM’s subsidiary Dulwich College International (“DCI”) with Dulwich College in London supporting as educational adviser.
LHN signs deals for Jakarta & Yangon ventures
LHN Limited, newly-listed on the Catalist of the Singapore Exchange Securities Trading Limited, announced that its subsidiaries in Indonesia and Myanmar have signed separate master leases in Jakarta and Yangon respectively.
In its first business venture in Yangon, LHN has signed a master lease with a local developer to open its first GreenHub Premium Small Office, home office-style serviced residence in the region.
In Jakarta, LHN has entered into a six-year master lease agreement, with an option to renew for another 3 years, with PT Maskapai Reasuransi Indonesia for a 1,228 square meter penthouse office unit on level 23 of Plaza Marein. This is a Class A office building situated in the heart of the central business district area and surrounded by prominent office buildings, a mere 5-minute drive to the nearest shopping malls and 5-star hotels, the company said in its regulatory filing.
The space will be used for the group’s second GreenHub serviced office in Jakarta. It will have 198 workstations and two meeting rooms, which will be available 24 hours daily. The fully-furnished office will also offer virtual office packages, professional secretarial services and other complementary business related services.