1st Sep 2015 12:09
LONDON (Alliance News) - Myanmar Investments International Ltd on Tuesday said it has a "strong pipeline" of potential investments.
The company completed two equity fundraisings in December 2014 and July 2015, raising USD23.7 million in total.
It led a USD30 million investment into Apollo Towers, a telecommunications tower company in Myanmar, in the same month as the second of the fundraisings.
It said that Myanmar Finance International Ltd, its joint venture micro-finance company, has performed well since its investment in September 2014.
"Our second year of operation has consolidated our base in Myanmar from which we expect the pace of investment to pick up once the result of the November general election is settled. We have a strong pipeline of interesting opportunities in a range of sectors," Managing Director Aung Htun said in a statement.
The update came as the company reported a USD1.7 million pretax loss in the year ended March 31, compared with a USD866,888 pretax loss in the prior financial year. That was largely due to a USD1.0 million employee benefits expense and other operating expenses of USD642,099.
By Samuel Agini; [email protected]; @samuelagini
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