SINGAPORE (Nov 17): Daiwa Capital Markets is initiating coverage of Yoma Strategic with a “buy” call with 73 cents target price, as the stock offers investors a way to ride Myanmar’s expanding economy while featuring multiple growth drivers.
In a Wednesday report, lead analyst Shane Goh says a new political party, an influx of foreign investments, and the lifting of sanctions by Europe and the US is propellling Myanmar’s economy on an upward trajectory.
One big attraction is Yoma’s residential land bank, which was acquired during low-cost periods, and offers healthy margins of 30-50%. Clarity on the Condominium Law, which enables foreigners to buy homes in the country, would provide a key impetus to drive residential sales, says Goh.
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