Myanmar conglomerate Yoma bides time under military rule

Group pursues debt repayment after takeover spurs losses and cutbacks

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The Yoma Central development project in Yangon ceased construction after Myanmar's military took over the national government.

Nikkei staff writers

BANGKOK/YANGON -- Myanmar property conglomerate Yoma Group has hunkered down in survival mode since the military took control of the government two years ago, tightening its belt and waiting for the tides to change.

"There's been a shift in mindset," J.R. Ching, chief financial officer of Yoma Strategic Holdings, told Nikkei. "Before 2020, there was a mindset of significant growth."

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