Yoma Strategic Holdings, a real estate developer, said its Q3 net loss narrowed to $420,000 compared with its loss amounting to $510,000 over the same period a year ago.
However, its Q3 revenue increased 47 percent to $5.31 million from $3.61 million in the same quarter a year before.
According to Yoma, this was due to a significant rise in its sales of buildings and land.
Revenue for its construction-related segment increased to $1.79 million on-quarter from $0.05 million.
The real estate market in Myanmar is showing signs of recovery, according to Serge Pun, CEO and chairman of Yoma. The firm sees a higher level of interest from investors and home owners for its properties in Myanmar.
Moving forward, Mr. Pun said that both the company’s China and Myanmar markets will remain optimistic in the near term.