Updated: Jun 21
Dear Partners and Investors
I hope this message finds you well and that you had the chance to enjoy a peaceful Thingyan during this challenging period of COVID-19 pandemic.
On a more positive note, I would like to use this newsletter as an opportunity to introduce you to Thida Aung, C&S Design Manager with Yoma Central. I worked closely with Thida for four years and believe she is destined to be a leading figure in the industry. You can look forward to getting to know more of the faces behind the project in future editions of this newsletter.
I also encourage you to read an in-depth article showcasing our efforts to restore a heritage building at 22 Kaba Aye Pagoda Road which is just one of many significant restoration projects the YCP team have recently been working on.
Head of Yoma Land
Updates from the construction site
Construction on all towers progresses. The Peninsula Residence Yangon has reached level five, Westin Yangon began construction on the first level of guest rooms, Office Tower 3 started works at level seven and Office Tower 4's core is at level four.
The detailed progress report can be viewed here.
Our Response to COVID-19 Pandemic
Myanmar’s Ministry of Health and Sport implemented various measures at the beginning of April, including a curfew, internal and international travel restrictions, quarantine and workplace regulations which have contributed to the relatively low numbers of confirmed cases thus far. We anticipate the government will relax some of these measures in the coming weeks but at Yoma Land and at Yoma Central we shall continue to self-impose a variety of measures until we judge the threat to have reduced to a level which justifies a return to normality.
Since early February, Yoma Land and Yoma Central have been working on ensuring the risk is mitigated. The Crisis Management Plan (CMP) was implemented at the beginning of March to protect workers and staff, and was based on the best international practices. The CMP has been a subject of continual review and we worked with authorities to ensure it is aligned with their requirements. Progress has, of course, been affected with both a reduction in labour force, such as a ban on working during the night, and in disruption to supply chains from China, but it seems that the situation is starting to stabilise and our work continues. You can check our latest report attached in the latter section of this newsletter.
Industry News - the most important news from Myanmar and the region
Workforce of Yoma Land
To ensure our staff receive the highest quality of medical treatment, we have updated our health insurance policy. From now on, all Yoma Central employees will enjoy Covid-19 and outpatient coverage from their first day at work. Furthermore, we are providing everyone with a free Telemed service which will provide employees medical assistance via Viber - the most popular mobile messaging platform in Myanmar.
Finally, we have extended our support for frontline staff by providing them with tailormade coverage adapted to the novel hazards of their working environment.
Profiles of Yoma Central
C&S Design Manager at Yoma Strategic Holdings
"Thida was the first Myanmar staff I worked with directly and since the beginning I have been impressed by her demeanour, passion, ability and open-mindeness. She is a technically accomplished engineer, who has blossomed into a seasoned team leader, gaining respect of her peers, contractors and management. I consider Thida to be one of the best engineers I have worked with worldwide, and a glowing example of how women can become respected leaders in a male dominated industry."
- Iain Fairbairn, Project Director at Yoma Strategic Holdings
Read the Interview here.
RENOVATING HISTORICAL CHURCH AND PARSONAGE
To support our local community and to preserve a piece of Yangon’s architectural heritage, we have been renovating St Gabriel’s Church and Parsonage on Bogyoke Aung San Road. The iconic Anglican church in stunning red brick style was built in the late 19th Century and stands metres from our Downtown construction site. The structural repairs, re-roofing and window repairs of the Parsonage are nearly complete. Subject to weather conditions, we hope to have finished both interior and exterior within 2 months. Meanwhile, the structural repairs to the Church are ongoing.
HELPING MONSOON PREPARATION
We are also actively helping YCDC to prepare Yangon’s drainage systems for the monsoon season. Last month we cleaned out the storms drains that neighbour Yoma Central, allowing YCDC to initiate replacing the adjacent sewer line from behind Bogyoke Aung San Market.
The story of Yoma Central Gallery Restoration of a Heritage Building at 22 Kaba Aye Pagoda Road
Yangon boasts the highest density of colonial architecture anywhere in the world. In our efforts to champion this heritage, our team worked to carefully renovate a gorgeous, 1920s mansion at 22 Kaba Aye Pagoda Road. The building was once a residence for a British merchant family and now plays host to our luxurious showroom. Many of you had a chance to experience the beauty and glamorous style of the building while visiting, let us take you on a journey through the history of this hidden architectural gem.
Read more here.