“Since the coup on Feb 1, peaceful protests have swiftly escalated into violent protests. The military has opened fire on demonstrators and conducted overnight raids to arrest residents. As of date, more than 50 people have been killed, which is more deadly than the Saffron Revolution in 2007,” writes Tan.
PhillipCapital analyst Tan Jie Hui has downgraded her recommendation on Yoma Strategic to “neutral” from “buy”, with a lower target price of 15.6 cents from 34 cents.
The brokerage’s downgrade also comes slightly over a month after it continued to rate Yoma at “buy” on Feb 5, since Myanmar’s military seized power and declared a state of emergency on Feb 1.
