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Tradeable Idea Of The Week: Myanmar
Tradeable, Tradeable Ideas | 13 June 2013
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By: Raymond Leung
Articles (142) Profile

Tradeable Ideas is a new weekly column by Tradeable. This column focuses on locally listed companies or particular sectors that have attracted strong interest from analysts at various research houses. Tradeable Ideas is meant to serve as a springboard for investor’s interest in specific stocks or sectors in Singapore.

Myanmar, which used to be a closed economy that was ruled by a military government, is now appearing to be a goldmine for companies wishing to be involved in its development. Being one of the most under-developed countries in Asia, many opportunities have arisen following initiatives to open the market by President Thein Sein’s government. Among which, some of the companies listed on the Singapore Exchange which have business involvements in Myanmar have sparked much interest from investors.

Yoma Strategic Holdings
Yoma Strategic Holdings (Yoma), a property developer, is said to be best positioned to access the booming market with its land bank being close to 100 percent located in Yangon. Yoma is also in the bid for one of two new mobile telecommunication licences in Myanmar (joint venture with Digicel and Quantum Strategic). Analysts note that there is huge growth space in Myanmar’s telecommunications sector as Myanmar currently has only one mobile carrier, MPT. Mobile usage is also below 10 percent of the population. According to DBS Vickers, Yoma is a direct proxy to the market and reiterated their “Buy” with a target price of $1.08 which translates to a possible 20 percent upside from its current price of $0.90.

Source: FactSet, graph showing the 1 month chart of Yoma Strategic Holdings

Ezion Holdings
Ezion Holdings (Ezion) managed to secure its first contract worth US$ 118 million in Myanmar in February 2012. This contract involves the provision of a service rig to French-based TOTAL in Myanmar over a three year period. This year, Myanmar’s Ministry of Energy has invited bids for another 18 onshore blocks in various parts of the country which foreign companies may participate in. The rising oil & gas activities in Myanmar, one of the world’s oldest oil producing countries will underpin stronger demand for Ezion’s service following the successful deployment of the service rig to TOTAL. Based on four analysts, Ezion have an average upside of 28.1 percent with the current price of $2.18.

Source: FactSet, graph showing the 1 month chart of Ezion Holdings

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Trained in fund management, Raymond is familiar with shares and various investment vehicles.

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Yoma Strategic Hldgs  0.340 +0.010 +3.03%   
Business: Co operates mainly in Myanmar under several business segments. [FY18 Turnover] Automobile (40.5%), real estate (20.8%), real estate services (18.4%), consumer (12.9%), financial services (6.2%), investments & others (1.2%).

Insight: Feb-19, 3Q19 revenue jumped 12.1% to $27m mainly a... Read More
Ezion Hldgs  -- -- --   
Business: Co develops, owns, and charters offshore assets to support the offshore energy markets. [FY17 Turnover] Liftboats (49.7%), Jack-up Rigs (39.5%), Offshore Support Logistic Services (10.8%).

Insight: Aug-18, 1H18, Co returned to the black with a net ... Read More

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