7th Dec 2015 12:12
LONDON (Alliance News) - Myanmar Investments International Ltd on Monday said it doesn't seem to have been successful in its application for securities licences ahead of the opening of the new Yangon stock exchange in two days' time.
Although there has been no formal announcement, Myanmar Investments noted reports that 10 of the 22 applicants for the securities licences have been informed that they have been granted provisional status.
The company said it will continue to explore opportunities in that area.
Myanmar Investment reported a USD1.2 million pretax loss in the six months ended September 30, compared with a USD826,007 pretax loss the corresponding half the prior financial year.
Chairman William Knight said the company "continues to explore a strong pipeline of investment opportunities, with a total of 16 deals currently active within sectors including financial services, technology, logistics, healthcare, education, consumer products, energy and construction".
"Many of the opportunities are however not yet at a stage where they are investible and we maintain a rigorous screening process to quickly determine those opportunities that do not meet our stringent investment criteria. That said, our review of over 130 opportunities spanning almost every sector over the past few years has provided us with deeper market insight," Knight said.
Shares in Myanmar Investment were untraded at USD1.40 on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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