Yoma Strategic’s positive topline amidst the Covid-19 pandemic has pushed PhillipCapital to reiterate its “buy” call and target price of 46 cents on the counter.

This gives the Myanmar-based company a 58.6% upside from its 29 cent close on August 20, analyst Tan Jie Hui says in an August 21 note. Breaking down his valuation, Tan says: 68% accounts for Yoma’s property business while 19% comes from its financial services arm.

The company’s property segment – Yoma Land – logged a 21.4% year-on-year increase in revenue to US$6.8 million ($9.3 million) in 2Q2020 ended June. 

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