Is this company linked to the Burmese junta?

Yoma Strategic Holdings Ltd, or YSH, as it calls itself, is listed on the main board of the Singapore Exchange.

YSH, it turns out, is a Burmese company formed in Singapore but “has an origin in Myanmar”, whatever that means.

Indeed, its chairman and chief executive, Mr Serge Pun, a Burmese national, announces on the company’s website that “With such a listing platform, we are proud that YSH will become the first Myanmar-based blue-chip company to be listed in the territory.” (

The website also tells us the YSH’s parent company is Burma-based First Myanmar Investment Co Ltd..

The company wants to open up “a convenient and unique avenue for foreign investors to invest in Myanmar” by gaining access to the international capital market. Admirable mission, no doubt.

The problem is that with the conflagration that is going on now in Burma, every business dealing within the country must be looked over thoroughly to see if it is in any way connected with the Burmese junta.

Being listed on the SGX, it is incumbent for shareholders to satisfy for themselves that they are not dealing in blood money.

If our readers have any more information on this matter regarding YSH, please send us an email.

YSH Board of Directors

Mr Serge Pun
Chairman & CEO

Mr Kyi Aye
(Alternate: Mr Kyaw Paing)
Non-Executive Director
Executive Director, Central Bank of Myanmar (1989-1991)

Mr Wang Chien Sheng Ambrose
(Alternate: Mr Soe Win)
Non-Executive Director
Chairman, Global Concepts Ltd.

Mr John E Strickland
Independent Director & Chairman Audit Committee
Chairman, Hong Kong Cyberport Management Co Ltd.,

Mr Ng Fook Leong Phillip
Independent Director
Chairman, Very Special Arts Singapore

Mr Basil Chan
Independent Director
Founder and Managing Director, MBE Corporate Advisory Pte. Ltd.

Mr Adrian Chan Pengee
Independent Director
Senior Partner, Lee & Lee.