MAINBOARD-LISTED Yoma Strategic Holdings said on Sunday that while political developments in Myanmar " have resulted in intermittent disruption" in some of its businesses, many of its services have resumed operations, including Wave Money, KFC and Kospa.

 

" The group believes it still too early to ascertain the longer-term impact of the current political situation on its businesses, and will continue to monitor the situation closely," said chief executive officer Melvyn Pun.

 

In a Singapore Exchange filing, the company gave an overview of its activities in the first quarter ended Dec 31. Group revenue was up 0.9 per cent year on year at US$24.8 million.

 

This was driven mainly by gains in real estate development, making up for falls in revenue from its food and beverage business, as well as motoring.

 

While a second wave of Covid-19 has hit economic activities and consumer spending, Yoma' s real estate and financial services businesses " remained resilient" , it said. Its real estate development arm' s revenue grew 52.5 per cent year on year in the quarter, to US$9.1 million.

 

Revenue fell 29.4 per cent for its food and beverage business, to US$6.3 million, which Yoma attributed to dine-in restrictions in place since September, as well as lower footfall traffic due to lockdowns and curfews amid the pandemic.

 

In financial services, fintech arm Wave Money' s Ebitda " remained positive" - with no figures given - supported by 10.4 per cent growth in revenue from the previous quarter, and a continued focus on cost control measures.

 

Over-the-counter monthly active users grew to more than 3.9 million in December, up from 3.7 million a year ago. Digital monthly active users hit 1.5 million in December, ahead of the targeted 1.3 million, and rose further in January to 2.4 million.

 

" The company will continue to closely monitor the political situation in Myanmar, and provide further updates as and when there are material developments that impact the group' s operations," said Yoma.