Yoma Fleet was originally parked under Yoma Motors, another related entity, but Melvyn Pun, CEO of Yoma, says placing its fleet business under the same roof as its financing business was a move to capitalise on the lack of financing that is prevalent in Myanmar.
SINGAPORE (May 27): On April 22, Yoma Strategic Holdings announced a strategic partnership with Tokyo Century Corp for its vehicle leasing service in Myanmar. The latter will acquire a 20% stake in Yoma subsidiary Yoma Fleet for US$26.6 million ($36.6 million). The partnership is aimed at accelerating the expansion of Yoma’s vehicle leasing business.
Besides trying to meet growing demand for transport and logistical services, the expansion of Yoma Fleet is also a way for Yoma to grow its related entity Yoma Financial Services, which offers financing to vehicle owners.
