SINGAPORE (Nov 13): Ayala Corporation, one of the oldest and largest conglomerates in the Philippines, is set to invest US$238 million ($324 million) to buy a 20% each in Singapore-listed Yoma Strategic Holdings and Yangon-listed First Myanmar Investment (FMI), according to Financial Times.

Both companies are owned by Myanmar tycoon Serge Pun, the owner of one of Myanmar’s largest conglomerates, Serge Pun & Associates (SPA Group).

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