SINGAPORE (May 22): Foreign-exchange and fair-value gains boosted Yoma Strategic Holdings' bottom line for the fourth-quarter ended March 31.

While revenue for the quarter was flat at $27.6 million, earnings rose to $8.2 million from $6.4 million a year earlier, thanks to a $6.1-million forex gain and fair-value gains of $8 million on its investment properties - Building A5 in Star City and Lakeview G in Pun Hlaing Golf Estate.

Revenue stagnated as lower sales of homes and land development rights were offset by increased contributions from Yoma's automotive, tourism and property rental businesses.

The results brought Yoma's earnings for the 12 months ended March 31 to $28 million, up from $16.4 million the previous year.

The full-year performance was also boosted by fair-value gains on investment properties and foreign-exchange gains.

Revenue for the full year rose 10.4% to $110.9 million, with lower sales of homes and land development rights offset by higher contributions from other businesses.

Business prospects for the next few quarters are mixed, according to Yoma.

"On the one hand, (property) demand continues to be strong on the back of the continuing growing economy, in particular in Yangon, where the group is most active," the company said in comments accompanying the results.

"However, this is being tempered by a number of headwinds, including increased supply and uncertainty over the outcome of the forthcoming election.

"As a result, the group will be taking a cautious approach to new real estate developments over the next 12 months."

Myanmar will hold general elections in November, and has invited representatives of the US-based Carter Center and the European Union to monitor the election proceedings.

Yoma shares ended flat at 51.5 cents yesterday.