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[TodayIR] YOMA: Yoma Strategic Joins Forces with Japan’s



[TodayIR] YOMA: Yoma Strategic Joins Forces with Japan’s Sumitomo Corporation
                       to Distribute Hino Brand Trucks

Singapore, 19 December 2013 - Yoma Strategic Holdings (祐玛战略控股有限公
司),the Singapore-listed conglomorate with operations in Myanmar has entered
into a proposed joint venture with Sumitomo Corporation, a leading general
trading house in Japan, to distribute and service Hino brand trucks and buses
in Myanmar.

The proposed joint venture,subject to the approval of relevant authorities, is
expected to be 60 per cent owned by Sumitomo Corporation, 20 per cent by Elite
Matrix, a wholly-owned subsidiary of Yoma Strategic, and 20 per cent by First
Myanmar Investment, a subsidiary of Serge Pun & Associates (Myanmar) (SPA).

Yoma Strategic’s involvement in this joint venture will serve to further
broaden the company’s burgeoning automotive interests in Myanmar. This
collaboration with Sumitomo Corporation is but the latest in a long
partnership history between Sumitomo Corporation and the SPA group of
companies.

Hino Motors, a Toyota Motor Corporation company, is the largest manufacturer
of heavy- and medium- duty trucks in Japan. With sizeable market shares in
shoutheast Asia and Australia, Hino brand vehicles are renowned for their
quality, durability and reliability. Worldwide sales of Hino-brand products
amount to 130,000 vehicles annually. In Japan, Hino is the perferred brand for
heavy, medium and increasingly, light duty trucks.

On this latest collaboration with Sumitomo Corporation, Andrew Rickards, Yoma
Strategic’s chief executive, said: “We are extremely confident in the
prospects of our partnership with Sumitomo Corporation to distribute and
service Hino brand trucks and buses in Myanmar. We have seen demand for robust
trucks with good load capacity grow in tandem with the economy and with the
continued improvements to infrastructure, we expect this momentum to sustain.
Also, demand for long-distance coach services is likely to increase,
particularly for travel between major cities, as urbanization continues and
tourism flourishes further. Many major vehicle manufacturers are now eyeing
the Myanmar market at the back of the vehicle demand growth spurt. We firmly
believe that this is a right step for us in our efforts to strengthen our
automotive portfolio, in line with our longer term plans to become a
significant player in the automotive industry in Myanmar.”
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