No charges filed against Serge Pun in Nay Pyi Taw, Yoma clarifies

Pun has been meeting and cooperating with the relevant authorities on matters relating to banking business, Yoma says.

Yoma Strategic Holdings has issued a clarification that no charges have been filed against its executive chairman Serge Pun, in contrast to what was suggested by a news agency in a July 9 article.

Citing “official sources”, Myanmar-Now reported that Pun has been held in junta custody for more than a month over alleged violations of banking regulations. The article claims that Pun has been detained since June with eight senior employees of Yoma Bank and Yoma Land.

In a statement, Yoma says Pun has been meeting and cooperating with the relevant authorities in Nay Pyi Taw — including the Central Bank of Myanmar — on matters relating to banking business.

“As a responsible business organisation in Myanmar, the group engages with the relevant government ministries and regulators from time to time to conduct its activities,” it says in a filing.

The company also clarifies that its businesses and operations are not affected by Kasikornbank’s alleged “tentative” actions to terminate banking services as these actions reference the Myanmar banking sector in which the group is not involved.

Shares in Yoma traded 0.6 cents lower or 4% down on July 9 at 14.4 cents.

 

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