Singapore Hot Stocks-Yoma jumps on Myanmar's tax incentive plan

SINGAPORE Jan 30 (Reuters) - Shares of Singapore-listed Yoma Strategic Holdings Ltd surged 20 percent to a record on expectations the property firm may stand to gain from Myanmar's plan to offer tax incentives to companies.

Yoma is one of the few Singapore-listed stocks with a large exposure to Myanmar, and is tipped to benefit as the previously reclusive state undergoes political reform and opens up its economy.

By 0320 GMT, Yoma's shares rose to S$0.330 with more than 44.1 million shares traded, 5.5 times the average daily volume traded over the last five sessions. The company's share price has surged 54 percent so far this year.

Myanmar plans to offer eight years of tax incentives to bring capital to such sectors as farming, tourism and energy, its trade minister said on Saturday.

"Over the weekend, the Myanmar government announced it plans to offer some tax incentives. This has helped to boost sentiment in Yoma, as it focuses on selling land development rights, and more foreign investment in Myanmar will be positive for the firm," said Bernard Chin, an analyst at Kim Eng Research. (Reporting by Charmian Kok; Editing by Anshuman Daga)