TIDMSHWE
RNS Number : 0834K
Myanmar Strategic Holdings Ltd
06 April 2018
6 April 2018
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
Joint Venture with Auston Institute of Management
Opening of a Private Educational Institution in Yangon
Myanmar Strategic Holdings (LSE: SHWE), an independent developer
and operator of consumer businesses in Myanmar, one of the fastest
growing economies in the world, is pleased to announce that it has
formed a joint venture ("JV") with Auston Institute of Management
("Auston"), an operator of private schools in Singapore and Sri
Lanka that prepares students for careers in Engineering, IT
Technology and Project Management through higher education
learning. Under the JV, MSH and Auston will set-up and operate a
private school in Yangon. The incorporated joint venture company
will trade under the name of MS Auston Pte. Ltd. ("MSA").
As part of the joint venture agreement, entered into on 6 April
2018, MSH will provide the required funding (estimated to be in the
region of US$500,000) for the first private educational
institution, while Auston will contribute the industry knowledge,
curriculum and management capabilities. Following the initial
capital contribution, MSH will hold a 70% stake in the JV with the
remaining 30% being held by Auston. MSH will fund the initial
capital contribution from its existing cash resources.
The institution, named Auston College Myanmar will be located in
the Junction Square complex, in close proximity to the Company's
flagship Wall Street English centre which opened in February 2017
and that now has over 800 students. It will span three floors and
cover 700 square metres. The location is easily accessible via
existing infrastructure and the business will offer students access
to a first-rate education in-line with international standards.
Management intends to commence operations in May 2018 and Auston
College Myanmar will initially offer the following curriculum: (i)
Diploma in Engineering Technology, (ii) Diploma in Construction
Project Management and (iii) Diploma in Networking, Information
Systems, and Security. For the first year, Auston intends to enrol
up to 150 students. At run-rate, management expects to serve up to
400 students. English language learning will also be provided by
the Company's nearby Wall Street English centre.
The JV will also explore opportunities to expand to additional
locations in Mandalay and other domestic hubs across Myanmar over
the next five years.
Commenting on the JV, Enrico Cesenni, CEO of MSH, said:
"We are very pleased to initiate this strategic partnership with
Auston and its founding team, Michael Lin and Cecil Lim. Over the
years, Auston has established itself in Singapore and Sri Lanka as
a leading provider of private education, to-date educating over
5,000 students. The joint venture allows us to bring higher quality
education to Myanmar and further grow our education platform in the
country, whilst also generating synergies with our existing Wall
Street English franchise."
Commenting on the opening, Michael Lin, CEO of Auston Institute
of Management, said:
"Since its foundation, Auston Singapore has established a strong
link with the Myanmar community with an alumni base of over 400
graduates and counting. In MSH we have found a suitable partner,
with a strong and reliable commitment to Myanmar, to bring our
future-focused technology education to the Myanmar market. Auston
Singapore is ecstatic to further develop its deep bond with the
Myanmar community by setting up the first Auston Myanmar campus in
Yangon to help prepare the next generation of engineering and
technology experts to lead this country into the future."
Enquiries
Richard Greer Enrico Cesenni
Chairman of the Board Chief Executive Officer
Myanmar Strategic Holdings Myanmar Strategic Holdings
Ltd. Ltd.
Broker: Allenby Capital PR Agency: Yellow Jersey
Limited Georgia Colkin / Joe Burgess
Nick Athanas / Nick Naylor +44 (0)203 735 8825
/ Nick Chambers msh@yellowjerseypr.com
+44 20 3328 5656
n.athanas@allenbycapital.com
Further information can be obtained from the company's website
www.ms-holdings.com
About Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. is an independent developer and
operator of consumer businesses located in Myanmar, one of the
fastest growing economies in the world. Initially concentrating on
Hospitality and Education, the Company intends to focus on the
broader consumer sector in Myanmar as it grows.
The Company's earliest investments have been in the Hospitality
sector - through its portfolio the Company manages over 474 beds
across 4 boutique hostels in 3 core tourist locations across
Myanmar operating under the award winning Ostello Bello budget
hospitality brand. It operates an asset light strategy, entering
into long-term operating and management agreements with local
hostel owners.
Within its Education division, the Company currently has
exclusive development and franchising agreements with Pearson for
10 Wall Street English language centres across Myanmar within the
next 10 years. Two centres were opened in 2017, serving over 1,000
students as of February 2018. The Company also operates MSA, a
joint venture alongside Auston Institute of Management, to offer
vocational courses in Engineering, Information Technology and
Management through private institutions. MSA's first institution,
Auston College Myanmar, is due to open in May 2018 and it is
exploring opportunities to expand to additional locations in
Mandalay and other regional hubs over the next five years.
Myanmar is currently the 4(th) fastest growing (as of March
2017) and one of the most promising economies within Asia Pacific.
Its annual GDP growth is expected to stand at 8.0% in 2018 (Source:
Asian Development Bank), making it one of the top 10 fastest
growing economies in the world, whilst the number of middle class
consumers in Myanmar is also expected to double by 2020.
Myanmar Strategic Holdings is well positioned to grant investors
early exposure to Myanmar's strong economic fundamentals enhanced
by ASEAN's wider growth prospects.
About Auston Institute of Management Pte. Ltd.
Founded in 1996, Auston Institute of Management is a private
school that prepares students for careers in Engineering, IT
Technology and Project Management through higher education
learning. Auston has campuses in Singapore and Sri Lanka and enrols
over 400 students each year. Auston in Singapore has developed a
strong network in Myanmar with up to 50% of previous intakes in
Singapore being students from Myanmar.
Accelerated degree pathway programs, flexible intakes, and
first-class teaching have differentiated Auston among other Private
Education Institutions ("PEIs") in Singapore. It is also one of the
few PEIs in its segment who have achieved the 4-year EduTrust
certification. 61% of graduates from Auston Singapore find jobs
within six months after completion in the highly competitive
Singapore job market. Many of these started careers with industry
leaders, such as, Hewlett Packard Pte Ltd, Philips Singapore Pte
Ltd, Micron Electronics, Samsung Electronics, etc.
Living standards in Yangon are quickly catching up with its
ASEAN peers and people are spending considerably more on Higher
Education as they recognise the long-term value of this investment.
Auston is a best-in-class operator and sees a unique opportunity to
establish a campus in Myanmar.
For more information: https://www.auston.edu.sg/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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