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MarketScreener Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  Ayala Corporation    AC   PHY0486V1154

AYALA CORPORATION

(AC)
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Philippines' Ayala Corp to invest over $200 million in Myanmar's Yoma Group

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11/13/2019 | 09:52pm EST
A worker of Ayala Corp's Integrated Micro-Electronics Inc. (IMI) is pictured at an electronics assembly line in Binan, Laguna

Philippine conglomerate Ayala Corp on Thursday said it would invest $237.5 million in Myanmar's Yoma Group in search of growth in multiple sectors, in a deal the pair called the Philippines' biggest private investment in Myanmar.

Ayala, whose businesses include telecommunications, energy and infrastructure, will gain 20% in each of Yoma's two holding companies - Myanmar-listed First Myanmar Investment Public Co Ltd (FMI) and Singapore-listed Yoma Strategic Holdings Ltd .

The Philippine firm will become the second-largest shareholder of the two companies after the controlling Pun family. It will nominate its president and chief operating officer, Fernando Zobel de Ayala, to the board of each.

"Our partnership with the Yoma Group gives Ayala a unique opportunity to participate in Myanmar's growth story," Ayala Chairman and Chief Operating Officer Jaime Augusto Zobel de Ayala said in a statement.

Yoma, chaired by tycoon Serge Pun, has expanded beyond real estate by partnering international companies entering Myanmar. It holds the KFC franchise from Yum Brands Inc and has a joint venture with Mitsubishi Motors Corp to distribute the Japanese automaker's vehicles.

"This partnership reflects Ayala's faith in the future of Myanmar," Pun, executive chairman of both FMI and Yoma Strategic, said in the statement.

Earlier on Thursday, Yoma Strategic reported a net loss of $44.2 million its the second quarter through September, versus a profit of $18.8 million a year earlier.

(Reporting by Fathin Ungku; Editing by Christopher Cushing)

Stocks mentioned in the article
ChangeLast1st jan.
AYALA CORPORATION End-of-day quote.
MITSUBISHI CORPORATION -0.50% 2890.5 End-of-day quote.0.50%
MITSUBISHI MOTORS CORPORATION -4.19% 435 End-of-day quote.-3.76%
NISSAN MOTOR CO., LTD. -0.46% 631.5 End-of-day quote.0.13%
YOMA STRATEGIC HOLDINGS LTD. -2.94% 0.33 End-of-day quote.-5.71%
YUM BRANDS 0.84% 106.49 Delayed Quote.5.72%
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Financials (PHP)
Sales 2019 307 B
EBIT 2019 66 932 M
Net income 2019 46 081 M
Debt 2019 349 B
Yield 2019 1,03%
P/E ratio 2019 9,88x
P/E ratio 2020 11,9x
EV / Sales2019 2,60x
EV / Sales2020 2,39x
Capitalization 449 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Average target price 1 009,78  PHP
Last Close Price 717,00  PHP
Spread / Highest target 53,4%
Spread / Average Target 40,8%
Spread / Lowest Target 26,9%
EPS Revisions
Managers
NameTitle
Jaime Augusto Zobel de Ayala Chairman & Chief Executive Officer
Fernando Miranda Zobel de Ayala Vice Chairman, President & Chief Operating Officer
Jose Teodoro K. Limcaoco CFO, MD, Chief Risk Officer, & Group Head-Finance
Maria Angelica B. Rapadas Chief Information Officer
Delfin Lapus Lazaro Non-Executive Director