TIDMSHWE
RNS Number : 9933S
Myanmar Strategic Holdings Ltd
14 July 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
14 July 2020
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company")
Completion of acquisition of Wall Street English Vietnam,
a leading provider of English Language Training in Vietnam
Myanmar Strategic Holdings Ltd. (LSE: SHWE ), the independent
developer and operator of consumer businesses in Myanmar and
Vietnam, is pleased to announce that, further to its announcement
on 26 May 2020, its wholly owned subsidiary MS English 2 Pte. Ltd.
has today completed the acquisition of the entire charter capital
of Wall Street English Limited Liability Company ("WSE Vietnam"), a
leading provider of English Language Training ("ELT") services in
Vietnam (the "Acquisition").
WSE Vietnam caters to the premium ELT market, focusing
exclusively on adult learning, and offers its services through a
flexible and integrated blended learning solution that can be
delivered entirely online.
As of 30 April 2020, WSE Vietnam served over 6,000 students at 7
centres located in Ho Chi Minh and Binh Dhuong. The centres will
continue to operate under ten-year Centre Franchise Agreements with
Wall Street English International on terms similar to those in
place for Wall Street English Myanmar.
For the twelve-month period ended 30 April 2020, WSE Vietnam
generated unaudited revenues of approximately US$13.8 million
(VND321.6 billion) and incurred a net loss of US$1.4 million
(VND33.7 billion). As at 30 April 2020, its gross assets amounted
to US$3.4 million (VND79.5 billion).
For more information please visit www.ms-holdings.com or
contact:
Myanmar Strategic Holdings Ltd.
Richard Greer, Independent Non-Executive richardgreer@me.com
Chairman 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
Henry Wilkinson +44 (0)20 3004 9512
Notes to editors
Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. (LSE: SHWE ) is an independent
developer and manager of consumer businesses in Myanmar and
Vietnam, one of the fastest growing economies in the world. The
Company's portfolio currently focuses on Education, Services and
Hospitality with the view to expand within the broader consumer
sector.
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, a third in
August 2018, and a fourth in February 2020. As of April 2020, Wall
Street English Myanmar served over 4,000 students since its
inception.
In July 2020, the Company completed the acquisition of the Wall
Street English business in Vietnam. Founded in 2013, the WSE
Vietnam business operates through seven centres in Ho Chi Minh and
Binh Dhuong, serving over 6,000 students.
The Company also operates 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, Mechanical Engineering and Networking,
Information Systems, and Security. English language learning is
also provided by the Company's nearby Wall Street English centre.
In February 2020, the Company announced a partnership with
Liverpool John Moores University to provide high quality
engineering training programmes for young, working professionals in
Myanmar, to be taught by Auston College Myanmar's teaching staff at
its Junction Square complex in Yangon.
The Company launched its first private K-12 international
school, the Yangon American International School in Yangon, in
August 2019.
Services sector: through its acquisition of EXERA, the Company
offers security, risk management and secure logistics services,
including cash-in-transit. Founded in 2013, EXERA employs
approximately 1,300 well-trained and high-quality security officers
making it one of the largest security services providers in
Myanmar.
Hospitality sector: through its portfolio, the Company currently
manages over 470 beds across four boutique hotels in three 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.
Myanmar was one of the fastest growing economies in Asia in
2017-2019 (Source: Asian Development Bank). In 2020 and 2021, its
annual GDP growth is expected to be respectively 2% and 6% (Source:
Asian Development Bank).
MSH is well positioned to provide investors early exposure to
Myanmar's strong economic fundamentals enhanced by ASEAN's wider
growth prospects.
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https://ms-holdings.com/investor-relations/#
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 162,000 students
across 422 learning centres located in Asia, Europe, Latin America
and the Middle East. Utilising both company-owned and franchised
centres, WSE has provided instruction to over 3 million people.
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END
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