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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Yoma Strategic Holdings Ltd.    Z59   SG1T74931364

YOMA STRATEGIC HOLDINGS LTD.

(Z59)
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Yoma Strategic : Change To Half Yearly Disclosure And Change In Financial Year End

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02/13/2020 | 09:09pm EDT
  • CHANGE TO HALF YEARLY DISCLOSURE OF FINANCIAL RESULTS
  • CHANGE IN FINANCIAL YEAR END

The board of directors (the "Board") of Yoma Strategic Holdings Ltd. (the "Company") wishes to update shareholders on the change to half yearly announcement of its financial statements and the change in the Company's financial year end from 31 March to 30 September.

  1. Quarterly Reporting

Following the amendments to the Listing Manual ("Listing Manual") of the Singapore Exchange Securities Trading Limited ("SGX-ST") which has taken effect as of 7 February 2020, the Company will not be required to release its financial statements on a quarterly basis. The Board has, after due deliberations, decided not to continue with quarterly reporting of the Company's financial statements, and instead, the Company will announce the financial statements of the Company on a half-yearly basis and provide a trading update for the other quarters.

  1. Change in Financial Year End Implications
  1. Following the change in financial year end, the current financial year will cover a period of 18 months from 1 April 2019 to 30 September 2020 ("FY2020").
  2. The Company had already released its unaudited financial results for the first two (2) quarters ended 30 June 2019 and 30 September 2019. Accordingly, the Company will be releasing its (i) unaudited financial results for the second 6-month period from 1 October 2019 to 31 March 2020 (the "Interim Financial Results"); and (ii) unaudited financial results for the 18-month period from 1 April 2019 to 30 September 2020 (the "Full Year Financial Results"), in accordance with Rule 705 of the Listing Manual as follows:-

Type

of

Financial Period

Comparative

Latest Date for

Announcement

Financial Period

Release

Interim

Financial

1 October 2019 to

1 October 2018 to

15 May 2020

Results

31 March 2020

31 March 2019

(6-month period)

(6-month period)

1 April 2019 to 31

1 April 2018 to 31

March 2020

March 2019

YOMA STRATEGIC HOLDINGS LTD. Company Registration No. 196200185E 63 Mohamed Sultan Road #02-14Sultan-Link Singapore 239002 Tel: (65) 6223 2262 Fax: (65) 6223 1990

www.yomastrategic.com

Full Year Financial

1

April

2020

to

30

1

April 2019

to

30

29 November 2020

Results

September 2020

September 2019

1

April

2019

to

30

1

April 2018

to

31

September 2020

March 2019

(18-month period)

(12-month period)

3. In accordance with Rule 707 of the Listing Manual, the Company will hold its next annual general meeting for FY2020 within four (4) months from its financial year end (i.e. on or before 31 January 2021).

Rationale for Change

The Company and its subsidiaries operate primarily in the Republic of the Union of Myanmar ("Myanmar"). The Ministry of Planning and Finance of Myanmar has mandated that with effect from 1 October 2019, all taxpayers must adopt the new financial year from 1 October to 30 September. Prior to this change, taxpayers in Myanmar had been adopting the period 1 April to 31 March as their financial year. The Company's Myanmar subsidiaries have effected the change in their financial year end from 31 March to 30 September to comply with the mandate.

As such, the Company and its Singapore subsidiaries have changed its existing financial year end from 31 March to 30 September to coincide with this mandatory change to reduce additional external audit costs and internal resources and efforts to be expended to accommodate the Company's financial reporting.

BY ORDER OF THE BOARD

Melvyn Pun

Chief Executive Officer

14 February 2020

YOMA STRATEGIC HOLDINGS LTD.

Company Registration No. 196200185E 63 Mohamed Sultan Road #02-14Sultan-Link Singapore 239002 Tel: (65) 6223 2262 Fax: (65) 6223 1990

www.yomastrategic.com

Disclaimer

Yoma Strategic Holdings Ltd. published this content on 14 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2020 02:08:07 UTC

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Financials
Sales 2020 163 M 117 M 117 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 703 M 504 M 504 M
EV / Sales 2019
Capi. / Sales 2020 4,33x
Nbr of Employees 4 000
Free-Float 55,3%
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Number of Analysts 2
Average target price 0,48 SGD
Last Close Price 0,32 SGD
Spread / Highest target 58,7%
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Spread / Lowest Target 46,0%
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Managers
NameTitle
Chi Tung Pun Chief Executive Officer & Executive Director
Serge Pun Executive Chairman
J. R. Ching Chief Financial Officer
Peng Ee Chan Lead Independent Non-Executive Director
Su-Yen Wong Independent Non-Executive Director