Investments Overview

Social Responsibility

SPA is a private investment holding company, owned and controlled by Mr. Serge Pun. Today, the primary businesses of SPA were made through 3 flagship holdings companies: First Myanmar Investment Co., Ltd. (FMI), which was incorporated and operate in Myanmar, Yoma Strategic Holdings Ltd. (YSH) and Memories Group Ltd. (Memories) which were incorporated in Singapore and operates in Myanmar. SPA, FMI and YSH are strategically affiliated through having a common shareholder interest, Mr. Serge Pun, and have investments in seven 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 three investment holdings companies.

First Myanmar Investment Co., Ltd. (FMI)

FMI was one of the earliest public companies formed following the adoption of the market economy and the promulgation of the Myanmar Investment Law in 1990. Established in 1992, it became an instant success with local investors hungry for professional investment management and sound diversity. On March 25, 2016 FMI became the first company to be listed on the Yangon Stock Exchange with the trading code 00001.

FMI’s strength lies not only in its strategic diversification, but also in its professional management, stringent corporate governance and transparency. FMI’s Board strictly adheres to corporate rules and acts independently to ensure proper conduct.

FMI's current focus is on it ‘three pillar’ strategy  of investing in the Financial Service, Real Estate and Healthcare sectors, while remaining open to strategic opportunities in other growth industries.

With an unbroken track record of profitability and dividend payments since inception, FMI is one of Myanmar’s most successful companies.

For more information please see

Yoma Strategic Holdings (YSH)

Yoma Strategic Holdings (YSH) is the Myanmar-focused, Singapore-listed affiliate of SPA Group. It is primarily involved in Real Estate, Automotive & Equipment, Consumer, Construction, Automobile and Luxury Travel and Tourism. YSH holds many of the world’s only publicly listed company offering almost pure Myanmar exposure. Adopting a conglomerate strategy, YSH aims to build a diversified portfolio of businesses by growing its present businesses, expanding into other divisions in the SPA Group and through its ventures jointly with the SPA/FMI Group, such as FMI City, Pun Hlaing Golf Estate and Star City. YSH is currently partnerships with international companies entering Myanmar for the first time.

For further details, please visit

Memories Group Ltd

Memories Group was successfully listed on Singapore stock exchange on 5th January 2018. Memories Group is a tourism company in Myanmar that operates an "Integrated Tourism Platform" which synergistically connects all its businesses to provide a seamless, one-of-a-kind experience aimed at creating lasting memories. The Memories Group's strategy is to leverage on its first mover advantage and further establish its position as a leading tourism company in Myanmar.
The Memories Group's Integrated Tourism Platform comprises three business segments:
Hotels, resorts and lodges throughout the country's major tourist and business destinations, as well as the development of new high potential tourism destinations in Myanmar.
Businesses providing experiences such as hot air ballooning, trekking, boating, diving and eco-tourism.
Travel and destination management services, creating new opportunities to explore regions previously unknown to international travelers. For more information, please visit the official website of Memories Group: