Intraco says circumstances in Myanmar will have material impact on Tat Hong Intraco

The current circumstances in Myanmar will materially impact Tat Hong Intraco’s operations in the near-term, announced Intraco, the investment management company.

The impact is caused by the temporary halt in construction projects in Yangon, where Tat Hong Intraco is predominantly located at.

Tat Hong Intraco is an unlisted joint arrangement in which Intraco has a 40% interest, as well as joint control via an investors’ agreement.

Tat Hong was incorporated in Singapore by Intraco, Tat Hong Holdings and Aung Moe Kyaw. It is in the business of leasing and sales of cranes and other heavy equipment in Myanmar.

Based on Tat Hong Intraco’s unaudited financial statement for the FY2020 ended December, Intraco’s investment in Tat Hong Intraco is valued at around $571,000. The amount represents less than 1% of Intraco’s total assets.

Shares in Intraco closed flat at 28 cents on April 1.