Serge Pun

Yoma is seeking legal advice and is prepared to take all necessary action to protect its interests and defend itself.

Serge Pun steps down as chairman and CEO of Yoma, to be succeeded by son Melvyn

The company could not confirm whether Pun has been detained or placed under “house arrest” in accordance with local laws.

Serge Pun remains in Nay Pyi Taw cooperating with the relevant authorities, the company says.

Pun has been meeting and cooperating with the relevant authorities on matters relating to banking business, Yoma says.

The transaction is considered an IPT based on SGX’s listing rules.

Yoma called for a trading halt of its shares after news of the coup broke in the early hours of Feb 1. It last traded at 28 cents.

Shares in Yoma Strategic closed 0.5 cent lower or 1.6% down at 30.5 cents on Dec 15.

(Nov 29): Myanmar tycoon Win Aung is open to foreign investment in the listed industrial-estate provider he oversees, following Ayala Corp’s tie-up with a firm traded on the nation’s fledgling stock exchange.

SINGAPORE (Nov 16): Serge Pun, executive chairman of Yoma Strategic Holdings, bats aside suggestions that he is accepting investment from Ayala only because Western enthusiasm for Myanmar’s growth story has waned. “Asian investors are a lot smarter th