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
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
- 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
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
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.
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