Memories Group acquires luxury yachting business for $1.3 mil

SINGAPORE (Mar 5): Memories Group, the tourism-focused company based in Myanmar formerly known as SHC Capital Asia, has agreed to acquire luxury yachting business Burma Boating from its owners for Kyat 1.3 billion ($1.3 million).

Burma Boating is owed by Tint Tint Travel & Tours, a Yangon-based tour operator which employs 18 people according to its website, as well as Seychelles-registered company Freepier.

It offers guests a premium cruising experience on luxury yachts in the Mergui Archipelago in southern Myanmar, with private charter rates for a whole boat starting from US$2,000 ($2,636) a night.

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