Tycoon Under Scrutiny in Myanmar Steps Down at Yoma Strategic

Serge Pun, one of Myanmar’s richest tycoons, is stepping down as executive chairman of Singapore-listed Yoma Strategic Holdings Ltd., as he remains under scrutiny in his native country.

Pun will also step down as a director of the company with immediate effect, Yoma said in a filing Wednesday. The real estate firm appointed his eldest son Melvyn Pun, who is also chief executive officer and a board member, as the new chairman.