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Ayala’s (AC) investment in Myanmar in peril as political turmoil develops; AC borrowed money for the Myanmar investments

Ayala Corp. invested US$108.6 Million in Yoma Strategic Holdings Ltd. (YSH) and US$82.5 Million in First Myanmar Investment Public Co. (FMI).  Those investments are part of the agreed US$237.5 Million investment into the Yoma Group by Ayala Corp.

Yoma Strategic Holding Ltd. is a Singapore listed conglomerate but gets all of its revenue from Myanmar while First Myanmar Investment Public Co. is one of the six listed companies in Myanmar.

AC carries on its book a 14.9% stake in Yoma Strategic Holdings valued at 5.3 Billion Pesos as of September 30, 2020. AC’s investment in FMI is booked as other current assets at around 4 Billion Pesos.

In its 3Q 2020 Balance Sheet Highlights, AC cited the borrowings for investment in the Yoma Group as one of the reasons for the increase in total debt of the company.

Myanmar’s military takes power and detains Prime Minister Aung San Suu Kyi.  Meanwhile Aung San Suu Kyi urged the country’s people to oppose the military action and to take to the streets in protest. It looks like the recent political turmoil will hit Myanmar’s economy hard.

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This analysis is an independent viewpoint on publicly traded stocks in the Philippine market.  Accuretti Systems Inc. trades stocks in the Philippine market.

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