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Silk Road Management has launched the country’s first equity index to track the stocks of eight Myanmar-related publicly listed companies, a company press release issued on Monday, November 12 shows.
The companies included in the index are listed on the Thailand, South Korea or Singapore exchanges and involved in sectors including property, power generation, oil and gas, telecoms and consumer goods.
The market capitalisation of the companies tracked by the index is US$9.3 billion as of Wednesday, October 31, and the daily trading volume is about $40 million, the press release said.
The index includes an initial value of 1000 set for January 1, and works by tracking the share price performance of the companies, it adds.
However, the index does not include two Myanmar companies listed in the Yangon Stock Exchange – Forest Products Joint Venture Corporation and Myanmar Citizens Bank – “due to their limited investability by international investors”.
“We are very pleased to launch [our] debut equity index that allows investors to track performance of an expanding group of publicly listed companies with assets and operations in Myanmar,” Silk Road Management founders Alisher Ali said.
“We are confident that more Myanmar-related companies will seek public listings or go through reverse mergers globally, including in Singapore, Hong Kong and London, as well as Canada and Australia in 2013 and beyond,” he added.
The press release says the Silk Road Myanmar Index is up 49.7 percent this year to October 31, making it the best performing index in Asia and the fourth best performing globally this year.
Silk Road Management attributes the performance to growing interest in companies gaining exposure to Myanmar, “which represents one of best investment opportunities in Asia and globally”.
The eight companies tracked by the index are: Daewoo International Corp (South Korea); Ratchaburi Elec Gen Holding (Thailand); Super Group Ltd (Singapore); Italian-Thai Development Pcl (Thailand); Yoma Strategic Holdings Ltd (Singapore); Interra Resources Ltd (Singapore); Shangri-La Hotel Pcl (Thailand); and Ntegrator International Ltd (Singapore).
The index will be updated quarterly and Silk Road will add more members as Myanmar companies seek initial public offerings and reverse mergers in stock exchanges in Asia and further abroad, as well as when regional publicly listed companies acquire assets in Myanmar or make significant expansion into the country.
The launch of the equity index closely follows the Monday, October 5 unveiling of the company’s Myanmar Property Index, designed to track property prices Myanmar’s capital city, Yangon.
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