Yoma Agricultural & Logistics Holding (IFC-34804)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 10, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
YOMA FLEET LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 15, 2017

Disclosed by Bank Feb 13, 2015


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Project Description
Yoma Fleet Limited (the "Company") was established in early 2014 by Yoma Strategic Holdings Ltd. and its local partner as the first greenfield provider of vehicle operating leases of scale in Myanmar. The Company aims to take the first mover advantage to serve the strong demand for operating leases including corporates in the agriculture, fast moving consumer goods ("FMCG") and construction sectors.The purpose of the Project is to finance the Company's capex plan to purchase a fleet of various types of vehicles.
Investment Description
  • International Finance Corporation (IFC)
The Company is held by Yoma Strategic Holdings Ltd ("YSH") through its 100% subsidiary Myanmar Motors Pte. Ltd. The Company has a service agreement with Vehicle Lease Management Ltd, that is also 100% owned by YSH. YSH is a Singapore listed company with a market capitalization of US$698 million as of September 19 2014. YSH is controlled by Serge Pun who is a well-known and respected Myanmar entrepreneur of Chinese descent. The proposed IFC investment is a US$20 million A loan for IFC's own account.
Contact Information
JR Ching FMI Centre, Level 10 & 11 380 Bogyoke Aung San Road Pabedan Township Yangon, Myanmar Tel: +95 1 240363 Fax: +95 1 246881 http://www.yomastrategic.com ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/