OCBC starts Yoma at Buy, $0.45 fair value

OCBC starts Yoma Strategic at Buy with $0.45 fair value, saying it is the only publicly listed company globally providing a nearly pure Myanmar exposure with an average daily liquidity of over US$5 million($6.2 million).

“Given the political will shown by President Thein Sein so far, we believe the process of economic liberalization in Myanmar will likely be meaningful and sustainable, which bodes well for Yoma's long term outlook. Yoma is also an affiliate of the SPA Group, an established conglomerate in Myanmar with a track record in acquiring, developing and marketing large residential projects. This gives Yoma a strong competitive edge and a first mover advantage in the Myanmar real estate sector.”

It views Yoma's valuations as attractive. It expects the potential acquisition of a prime 10-acre site in Yangon will likely be a price catalyst ahead. The stock is up 1.3% at $0.38.