Tuesday, March 5, 2013

Origo forms JV with Serge Pun


Tuesday, 05 March 2013 12:00 Mizzima News

listed Origo Partners PLC last week announced it had formed a 50:50 joint venture company with Serge Pun & Associates (Myanmar) Ltd, one of Myanmar’s leading conglomerates, with a view “to identify investment opportunities across the natural resources and other sectors in Myanmar.”

Origo’s primary policy is a focus on supplying Chinese energy requirements. It owns stakes in metals and mining, notably coal, gold, copper and iron ore, and has a significant presence in Mongolia.

“Following the start of liberalisation in Myanmar, the country has the potential to become a significant supplier of goods and raw materials to global markets, in particular China, and it is hoped that the Joint Venture will enable Origo to capture this opportunity,” the firm said in a statement.

“The Joint Venture will initially focus on opportunities in metals and minerals exploration, specifically in copper, gold, nickel and other mineral deposits, and is undertaking country-wide geological mapping,” it said.

Origo said it was also looking into the broader natural resources sector, particularly in agriculture, where it is investigating opportunities alongside Serge Pun’s affiliate Yoma Strategic Holdings Ltd.

“The Joint Venture will be headquartered in Yangon, Myanmar, within SPA’s [Serge Pun’s] offices allowing it access to infrastructural and logistical support,” the company said.
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