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Yoma, Sumitomo Team up to Distribute Hino Trucks in Burma

19 December 2013

Singapore-listed Yoma Strategic Holdings Ltd said on Thursday it had signed a joint venture agreement with Japanese trading house Sumitomo Corp to distribute and service Hino trucks and buses in Burma. Sumitomo will own 60 percent of the joint venture while Yoma will have 20 percent, the Singapore conglomerate with various businesses in Burma said in a statement. First Myanmar Investment Co., a firm controlled by Yoma founder and executive chairman Serge Pun, will own the remaining 20 percent stake.—Reuters