Investments Overview

Social Responsibility

SPA is a private investment holding company, fully owned by Mr. Serge Pun. All the investments of SPA was made through its two flagship public investment holding companies: First Myanmar Investment Co., Ltd. (FMI), which was incorporated and operate in Myanmar, and Yoma Strategic Holdings Ltd. (YSH) which was incorporated in Singapore and operate in Myanmar. SPA, FMI and YSH are strategically affiliated through having a common shareholder, Mr. Serge Pun, and have investments in eight business sectors in Myanmar as follows:

While having common and shared interest in group’s businesses, SPA, FMI and YSH operate independently of each other and in compliance of corporate governance and transparency standard set for listed companies.

A brief description of the group’s businesses are described in ‘Core Businesses’ pages of this website. For details of such businesses, please refer to the websites of two investment holdings companies.

First Myanmar Investment Co., Ltd. (FMI)

FMI is the flagship company of the SPA Group. Established in 1992, FMI was one of Myanmar’s earliest public companies. Today, the company is recognized as one of the foremost brands in the country, offering investors the opportunity to participate in businesses operated by the SPA Group. With over 4,700 individual shareholders, FMI is an investment holding company that boasts a balanced portfolio of investments in seven different spheres of businesses which have delivered shareholders an outstanding record of steady profits and impressive dividends over the past two decades. FMI’s strength lies not only in its strategic diversification of investment, but also in its professional management, stringent corporate governance and thorough transparency.

For further details, please visit

Yoma Strategic Holdings
Yoma Strategic Holdings is the Myanmar-focused, Singapore-listed affiliate of SPA Group. It is primarily involved in real estate, agriculture, retail, automobile and luxury travel. Yoma holds many of its ventures jointly with the SPA/FMI Group, such as FMI City, Pun Hlaing Golf Estate and Star City. Yoma is currently the world’s only publicly listed company offering almost pure Myanmar exposure. Adopting a conglomerate strategy, Yoma aims to build a diversified portfolio of businesses by growing its present businesses, expanding into other divisions in the SPA Group and through partnerships with international companies entering Myanmar for the first time.

For further details, please visit