1 Feb 2016 07:00
1 February 2016
Myanmar Investments International Limited
Appointment of Corporate Broker
Myanmar Investments International Limited (the "Company"), the AIM-traded investment company focussing on investing in Myanmar, is pleased to announce the appointment of Investec Bank plc ("Investec") as the Company's corporate broker with immediate effect.
Investec is a leading international specialist banking and asset management group with a strong presence in, and commitment to, Asia.
For further information please contact:
Myanmar Investments International Limited
| |
Aung Htun, Managing Director
| +66 81 836 5104 +95 94 0160 0501 aunghtun@myanmarinvestments.com |
Michael Dean, Finance Director | +65 82 99 98 98 +95 94 2006 4957 mikedean@myanmarinvestments.com |
Investec Bank plc (Corporate Broker) | +44 (0) 20 7597 4000 |
Andrew Pinder | |
Josh Levy Alistair Roberts (Hong Kong) |
Grant Thornton UK LLP (NOMAD) | +44 (0) 20 7383 5100 |
Philip Secrett Jamie Barklem Carolyn Sansom |
Notes to Editors:
Myanmar Investments International Limited (the "Company") is the first Myanmar focused investment company to be admitted to trading in London and has been established for the purpose of investing in businesses operating in or with business exposure to Myanmar. The Company will target businesses operating in sectors that the Directors believe have strong growth potential and thereby can be expected to provide attractive yields, capital gains or both. In addition to investing into local businesses the Company will also partner with foreign companies investing in Myanmar.
In August 2014 the Company made its first investment in a microfinance joint venture company as detailed in its announcements on 26 August and 1 September 2014, and on 16 November 2015 it was announced that Norfund became a 25% shareholder in the venture.
On 31 July 2015 the Company announced its investment in Apollo Towers Pte Ltd, a telecommunication tower company.
Since its Admission in June 2013, when the Company raised US$6.1 million, it has since raised a further US$23.7 million.
The Company's primary objective is to build capital value over the long term by making investments in a diversified portfolio of Myanmar businesses that will benefit from Myanmar's re-emergence.
Myanmar, a country of approximately 51.4 million people, has been isolated for much of the last 50 years. Once one of the more prosperous countries in Southeast Asia as it has an abundance of natural resources (oil, natural gas, arable land, tourist attractions and a long coastline), it is now one of the least developed countries in the world and has been the subject of sanctions imposed on it by the EU and the US, amongst others. The vast majority of these sanctions have been lifted over the last few years as Myanmar has re-joined the international diplomatic community.
General elections were held in Myanmar on 8 November 2015. Amidst much scrutiny by the international community, the elections took place largely without incident, and official results show the National League for Democracy (the "NLD"), led by Daw Aung San Suu Kyi, will hold a controlling majority of the seats in the next parliament. The current ruling party, Union Solidarity and Development Party (the "USDP"), has accepted the results of the election and together with the military is in discussion with Daw Aung San Suu Kyi for the transfer of power. The new administration is scheduled to take effect from 1 April 2016.
Further information can be obtained from the Company's website: www.myanmarinvestments.com