TIDMSHWE
RNS Number : 5374X
Myanmar Strategic Holdings Ltd
13 August 2018
13 August 2018
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
Opening of third Wall Street English centre
Myanmar Strategic Holdings (LSE: SHWE), the independent
developer and manager of consumer businesses located in Myanmar, is
delighted to announce that - further to the announcement made on 11
April 2018 - its third Wall Street English learning centre
officially opened on Saturday, 11 August.
The new centre, which spans 350 square metres, is located in the
popular Myanmar Plaza mall in central Yangon, Myanmar's largest
city and economic hub and is expected to have capacity for over 800
students.
The opening of this new centre follows the successful
establishment of the first two Wall Street English learning
centres, which opened in February and December 2017, respectively.
Wall Street English in Myanmar currently serves over 1,200 students
across the two centres (as of July 2018).
The three centres operate according to internationally
recognised standards and offer students access to a first-rate
English language education using a blended learning methodology
with students able to complete lessons online and attend classes at
the centre.
Commenting on the opening, Enrico Cesenni, CEO of Myanmar
Strategic Holdings, said:
"We are delighted to announce the opening of our third Wall
Street English centre in Yangon where we are seeing a surge in
demand for high quality English language tuition. This has been
highlighted by the fantastic success to date of our first two
centres.
"As Myanmar continues to grow, demand for English speakers will
continue to rise and we are excited to be a part of this trend. We
will continue to assess locations for potential new Wall Street
English centres as part of our exclusive franchising agreement to
open and operate up to ten centres in Myanmar over the course of
ten years.
"While the Group continues to diversify into sectors that serve
consumers' primary needs, we remain committed to our efforts to be
a responsible investor and a force for good in Myanmar. I look
forward to updating the market on further progress across our
portfolio in due course and during the AGM that will take place on
5 September 2018."
For more information please visit www.ms-holdings.com or
contact:
Myanmar Strategic Holdings
Ltd. enrico@ms-holdings.com
Enrico Cesenni, Founder and
CEO
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor
Nicholas Chambers +44 (0)20 3328 5656
Yellow Jersey PR (Financial
PR)
Georgia Colkin
Joe Burgess
Henry Wilkinson +44 (0) 7769 325254
Notes to editors
Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. is an independent developer and
manager of consumer-focused businesses located in Myanmar, one of
the fastest growing economies in the world. The Company's portfolio
currently focuses on Hospitality, Education and Services with the
view to expand within the broader consumer sector in Myanmar as it
grows.
Hospitality sector: through its portfolio the Company currently
manages over 470 beds across 4 boutique hotels in 3 core tourist
locations across Myanmar, operating under the award winning Ostello
Bello budget hospitality brand. MSH operates an asset light
strategy, entering into long-term operating and management
agreements with local hotel owners.
Education sector: the Company currently has exclusive
development and franchising agreements with Wall Street English for
ten English language centres across Myanmar over the course of the
ten-year agreement. Two centres were opened in 2017 and a third
opened in August 2018. As at July 2018, they served over 1,200
students. Through the franchise MSH also partnered with the
Directorate of Company Administration in Myanmar to provide English
language courses to its civil servants. A third centre is scheduled
for opening in August 2018.
The Company has a joint venture with Auston Institute of
Management to develop and operate the Auston College Myanmar. The
private school opened in May 2018 offering diplomas in Engineering
Technology, Construction Project Management and Networking,
Information Systems, and Security. English language learning is
also provided by the Company's nearby Wall Street English
centre.
Services sector: through its recent acquisition of EXERA, the
Company now offers safety, security and cash in transit services.
Founded in 2013, EXERA employs approx. 1,100 guards making it one
of the largest safety and security operators in Myanmar.
Myanmar was one of the fastest growing economies in Asia in 2017
(Source: Asian Development Bank). In 2018, its annual GDP growth is
expected to be about 8.0% (Source: Asian Development Bank), making
it one of the fastest growing economies in the world.
MSH is well positioned to provide investors early exposure to
Myanmar's strong economic fundamentals enhanced by ASEAN's wider
growth prospects.
Wall Street English
Founded in Italy in 1972, acquired by Pearson in 2010 and
currently owned by a private equity consortium, Wall Street English
("WSE") is one of the largest global English language learning
franchises in the world. WSE currently serves over 180,000 students
across 400 learning centres located in Asia, Europe, Latin America
and the Middle East. Utilizing both company-owned and franchised
centres, WSE has provided instruction to over 3 million people.
Under the Area Development Agreement, MSH acquired the exclusive
rights to develop up to ten WSE centres over the course of ten
years. While Wall Street English will licence the WSE brand and
provide the related learning methodology and educational materials,
MSH will be responsible for identifying suitable locations, fitting
out the centres and managing day to day operations, amongst other
owner responsibilities.
In November 2017, Pearson agreed to sell WSE to a consortium
consisting of funds affiliated with Baring Private Equity Asia and
CITIC Capital. The acquisition completed in March 2018.
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END
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