Yangon exchange to get sixth listing in logistics firm EFR this month

Photo from Ever Flow River Group's website.

Burmese logistics service provider Ever Flow River Group (EFR) will become the sixth company to list on the Yangon Stock Exchange (YSX), the bourse announced last Friday.

EFR will start trading on 20 March 2020, and the reference price will be announced one business day earlier, the exchange said.

EFR had a capitalisation of almost 12.2 billion kyats (nearly $8.6 million) as of 31 March 2019, according to its listing prospectus.

The company’s founder and chairman, U Kyaw Lwin Oo, is the largest shareholder with a 29.48 per cent interest. Meanwhile, his wife owns 27.7 per cent of the company and holds no executive role. An entity named Chang Yang Development Company Limited owns another 8.6 per cent stake as a result of a recent private placement, EFR said.

Founded in 1998 and registered as a public company in 2014, EFR operates eight subsidiaries and has stakes in three affiliate businesses which are engaged in the logistics and infrastructure development sectors.

The group posted a total comprehensive income for the fiscal year ended March 2019 of 2 billion kyats ($1.4 million), compared to nearly 668.8 million kyats a year earlier. By the end of September 2019, however, the company reported a negative income of 341.3 million kyats.

EFR provides comprehensive logistics services across the entire supply chain and plans to expand its business through investment in logistics infrastructure.

“Due to its geographical advantage, Myanmar has enormous potential to become a key regional transport and logistics hub. However, the country suffers from a notable lack of spending on infrastructure,” the company said.

Often called the last frontier market of Asia, Myanmar launched its stock exchange in 2014. In 2016, First Myanmar Investment became the first company to list on the exchange. Other listed businesses include Myanmar Thilawa SEZ Holdings, Myanmar Citizens Bank, First Private Bank and TMH Telecom.

YSX currently has a market capitalisation of 645.6 billion kyats ($453.5 million).

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.