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Yoma Strategic reports US$60.5 mil loss in FY2020 due to fair value losses

Felicia Tan
Felicia Tan11/30/2020 03:36 PM GMT+08  • 4 min read
Yoma Strategic reports US$60.5 mil loss in FY2020 due to fair value losses
This was due mainly to net other losses of US$11.6 million compared to gains of US$9.0 million in FY2019.
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For the FY2020 ended September, Yoma Strategic has reported a net loss of US$60.5 million ($80.9 million), sinking deeper into the red from its US$36.8 million net loss in FY2019.

This was due mainly to net other losses of US$11.6 million compared to gains of US$9.0 million in FY2019. The losses included a fair value loss of US$12.1 million on the group’s investment properties in Myanmar, which were affected by the depreciation of the US dollar (USD) against the Myanmar kyat (MMK) during the period.

The fair value and impairment losses were offset by a gain on disposal of US$3.6 million in relation to the group’s investment in edotco and a fair value gain of US$1.4 million on the Group’s investment in a private equity fund.

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