YOMA Strategic clarified on Wednesday (Jul 10) that no charges have been filed against its executive chairman Serge Pun.
The company issued the clarification in relation to an article by news agency Myanmar-Now, which reported that Pun has been held in junta custody for more than a month over alleged violations of banking regulations.
In the article published on Tuesday, the news agency said Pun was summoned to Naypyidaw in early June and has since been detained along with eight senior employees of Yoma Bank and Yoma Land.
It also cited an anonymous source, who “confirmed that the 71-year-old tycoon is being held under house arrest as he faces unspecified charges”.
Yoma has since clarified that Pun is in Naypyidaw and has been meeting and cooperating with relevant authorities, including the Central Bank of Myanmar, on matters relating to the banking business.
The group noted that being a “responsible” business organisation in Myanmar, it engages with relevant government ministries and regulators from time to time to conduct its activities.
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It also said its businesses and operations are not affected by Kasikornbank’s purported “tentative” actions to terminate banking services. “These actions reference the Myanmar banking sector in which the group is not involved.”
Shares of Yoma Strategic closed down 4 per cent or S$0.006 at S$0.144 on Tuesday.
