SINGAPORE PRESS-UOA ventures into Myanmar property market - Business Times

Tue Mar 11, 2014 8:24pm EDT

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United Overseas Australia Ltd has joined a growing list of global companies venturing into the emerging Myanmar market.

The Australia and Singapore listed property-related company said on Tuesday that it has formally agreed to pay $24 million for an 80 per cent stake in a Myanmar company which owns and has the rights to develop 2.414 acres (0.977 hectare) of land in Dagon Township, Yangon region.

NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Singapore Newsroom; Editing by Ed Davies)