Yoma Holdings unclear on Serge Pun’s detention or house arrest

CEO Melvyn Pun says his father remains in Nay Pyi Taw, cooperating with authorities.

Yoma Holdings said it has not been informed of Serge Pun's detention or house arrest, in response to SGX queries.

CEO Melvyn Pun said his father remains in Nay Pyi Taw at the accommodation provided by authorities and is cooperating with them.

Yoma reiterated that no charges have been filed against the elder Pun.

The group is also not aware of any specific restrictions or conditions that have been imposed on Serge Pun and two other employees.

When asked if the probe is affecting its finances, Yoma said there is no material impact on the group’s financials, operations, or businesses, which are managed by CEO Melvyn Pun and other key management personnel.

In addition, Yoma said the alleged probe into Yoma Bank for exceeding housing loan caps, as reported by the Central Bank of Myanmar, did not materially impact the group’s financials.

The group added that it is not aware of specific details about the Yoma Bank investigation and does not obtain loans from Yoma Bank.

The board will continue to monitor the matter and provide updates as needed.