Menu

Memories Group takes stake in three iconic Yangon hotels and a boat cruise

• Shares purchase agreement will give Memories Group a 15.28% stake in Strand Hotel International Limited which has a 50% interest in The Strand Hotel, Inya Lake Hotel, and Hotel G Yangon and an 80% interest in The Strand Cruise

• Consideration of US$3.19 million payable through the issuance of unlisted convertible bonds with a coupon rate of 5% per annum

Download Media Release – MR

Memories Group acquires a portfolio of assets including an island in Myanmar’s Mergui Archipelago – 25 July 2018

  • Acquiring development rights over 5,100-acres islands, a 24-villa five-star hotel and a 72room three-star hotel
  • The combined purchase price of US$40.7 million will be funded by cash and issuance of new shares
  • The new shares will be issued at a significant premium of 16.9% over the last traded weighted average price
  • Memories Group’s Integrated Tourism Platform now covers seven of Myanmar’s major tourist destinations

Download  media-release-acq-of-smah-VmGwKc 25 July 2018

Memories Group expands Myanmar tourism portfolio by acquisition of Kayah Resort – 30 May 2018

  • Kayah Resort located in Loikaw, Kayah State, is a 26-key boutique hotel set to be repositioned as an upscale resort under Memories Group’s Keinnara brand
  • The deal is the second acquisition for the Group since its listing on SGX-Catalist in January 2018. The acquisition will be funded by cash and issuance of new shares
  • The new shares will be issued at a significant premium of 28%
  • The Group’s Integrated Tourism Platform now covers six of Myanmar’s major tourist destinations
  • Download kayah-resort-9QmIy0 30 May 2018

Memories Group FY2018 revenue increases 44% to US$8.8 million – 29 May 2018

Key Highlights

  • Higher revenue in 4Q2018 and FY2018 driven by an enlarged portfolio of assets
  • Net asset value per share increased 154% to 12.5 US cents per share
  • Continues to invest in building a robust integrated tourism platform in Myanmar that aims to generate long-term sustainable returns for shareholders
  • Actively looking to acquire potential assets

Download memories-group-4q2018-results-SdTW1y 29-may-2018

Memories Group Acquires Burma Boating, Eyes Further Portfolio Expansion – 5 March 2018

  • Deal to purchase luxury yachting business marks the first acquisition by Memories Group as it builds on its integrated tourism platform in Myanmar
  • Burma Boating offers tourists a unique experience in the Mergui Archipelago
  • Mergui Archipelago is expected to receive tourism boost as tender to upgrade the Kawthaung domestic airport to an international airport is in progress

Download burma-boating-acquisition- 5 March 2018

About Memories Group

Memories Group is a leading tourism company in Myanmar that operates an “Integrated Tourism Platform” which synergistically connects its Experiences, Services and Hotels Segments under the group to provide a seamless, one-of-a-kind experience aimed at creating lasting memories. Its businesses include (i) the Balloons Over Bagan, which is an iconic Myanmar tourist attraction, that operates hot air balloon flights in the Bagan and Inle Lake regions; (ii) Burma Boating, operator and organiser of premium cruises on luxury yachts in the Mergui Archipelago in Southern Myanmar; (iii) the Bagan Land is intended to be developed into a proposed commercial and tourism-related hospitality development located in Nyaung U Township, Bagan; (iv) a destination management company branded under Asia Holidays Travel & Tours Co. Ltd (Memories Travel); (v) Hpa-An Lodge (Keinnara Hpa An), a luxury 19-room boutique resort hotel located in the foothill of Mount Zwekabin in Hpa-An Township of Karen State, (vi) Pun Hlaing Lodge (Awei Metta), a 46-room unique ‘urban resort’ located within Pun Hlaing Estate in Yangon, when completed; and (vii) Kayah Resort (Keinnara Loikaw), is a 26-key boutique resort in Loikaw, Kayah State.

For enquiries, please contact Cogent Communications:

Ms Melissa Sim,
Tel: (65) 6704-9287, Mob: (65) 9380-2938
Email: melissasim@cogentcomms.com

Mr Gerald Woon,
Tel: (65) 6704-9268, Mob: (65) 9694-8364
Email: woon@cogentcomms.com

This press release has been prepared by the Company and its contents have been reviewed by the sponsor, PrimePartners Corporate Finance Pte. Ltd. (“Sponsor”) for compliance with the Singapore Exchange Securities Trading Limited (“SGX-ST”) Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this press release.

This press release has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this press release including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms Gillian Goh, Director, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).