SINGAPORE (Oct 27): OCBC Investment Research is keeping Yoma Strategic Holdings on “hold” with an unchanged target price of 54 cents following the conglomerate’s announcement that it will be spinning off its tourism-related businesses worth about $70.7 million.

Yoma Strategic on Monday said it will list the tourism-related assets on the Singapore Exchange (SGX) via a reverse takeover of SHC Capital Asia.

Following the RTO, Catalist-listed SHC will transform into a Myanmar-focused tourism company which will be “uniquely positioned to acquire, develop and operate new tourism-related assets in Myanmar”, with its management team to be led by a new CEO, Michel Novatin.

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