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Screenshot of a breaking news alert e-mail from Q2 2017
Singapore Exchange (SGX) announced that it has today welcomed Memories Group Limited to Catalist under the stock code “1H4”.
Memories Group is a tourism company in Myanmar. It has developed an “Integrated Tourism Platform” that brings its three business segments, namely experiences, services and hotels, under one cohesive brand which allows operational synergies, economies of scale and cross-selling opportunities.
As the largest hot air balloon operator in Myanmar, the company provides an all-round luxury experience to customers. It also offers comprehensive tourism related services within Myanmar. Under its hotel business, Memories Group Limited owns and operates a boutique hotel in Karen State, and is developing a new urban resort in Yangon. It is also conducting feasibility studies on a proposed commercial and tourism-related hospitality development in Bagan.
Serge Pun, Executive Chairman of Memories Group, said:
Memories Group will benefit from listing on the SGX Catalist as it raises our status as a reputable company. With the listing, we intend to enhance shareholder value by expanding our business through a series of tourism-related acquisitions and develop new tourist destinations along the way. We believe our access to the vibrant Singapore capital market will help to support and fuel our growth plans in the years to come.
Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development at SGX, added:
We are pleased to welcome Memories Group Limited, the first Myanmar-based tourism company to be listed in Singapore, to Catalist. The Memories Group’s connections with Yangon-listed First Myanmar Investment Company Limited and Singapore-listed Yoma Strategic Holdings Ltd., two highly reputable conglomerates with a long track record in Myanmar, contribute to its competitive edge in riding on the strong growth of Myanmar’s tourism industry.
With a market capitalisation of about S$88 million, the listing of Memories Group Limited brings the total number of consumer companies to 150, with a combined market capitalisation of close to S$150 billion. The total number of companies listed on Catalist rises to 201, with a combined market capitalisation of over S$12 billion.
Memories Group Limited opened at S$0.285 today.