Landmark Myanmar

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This Project aims to support Yoma, First Myanmar Investment Co., Ltd (“FMI”), Meeyahta International Hotel Limited (“MIHL” or “the Company”) and Serge Pun & Associates (Myanmar) Limited (“SPA”) (Yoma, FMI, MIHL and SPA together, “the Group”) to develop and operate a mixed-use complex on a 10-acre site surrounding the 136 year-old building of the former headquarters of the British Burma Railway Company (the “BBR Building”) in downtown Yangon, Myanmar. The “Project” consists of the development of two office towers, a business hotel and a serviced apartment building, a branded residential building, a retail podium, car park, public spaces and underlying infrastructure, as well as the demolition of the Grand Mee Ya Hta Executive Residences (“GMER”) building and the FMI Centre building currently on the Project site. The redevelopment of the BBR Building will be undertaken separately to house a Peninsula branded hotel and is not part of the Project. MIHL or another company to be established in Myanmar (the “Company”) is the entity that would undertake the Project. Yoma is expected to be the largest shareholder of the Company. Mr. Serge Pun is the controlling shareholder of both Yoma and FMI. The Group has a number of business interests in Myanmar including real estate, construction, agribusiness, automobile and tourism. Yoma is a Singapore listed company. IFC has been approached to provide a financing package of up to US$75 million comprising both debt and equity and mobilizing a parallel financing package of a similar amount to support the Project.