TIDMSHWE
RNS Number : 4812L
Myanmar Strategic Holdings Ltd
06 September 2019
6 September 2019
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
Opening of fourth Wall Street English centre
Myanmar Strategic Holdings (LSE: SHWE), an independent developer
and manager of consumer businesses located in Myanmar, is pleased
to announce the planned opening of its fourth Wall Street English
language centre in Myanmar.
The new centre, expected to open by January 2020, will span 650
square metres, will be located in the Mingalar Mandalay shopping
mall in central Mandalay, Myanmar's second-largest city, and is
expected to have capacity for 800 students.
Positioned in an easily accessible location, the centre will
operate according to internationally recognised standards and will
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.
The opening of this new centre will follow the successful
establishment of the first three Wall Street English learning
centres, supported by MSH, which opened in February 2017, December
2017 and August 2018, respectively. Wall Street English in Myanmar
currently serves approximately 1,400 students across the three
existing centres (as of March 2019).
English speakers are in high demand in Myanmar's expanding
economy and Wall Street English continues to entrench itself as a
leading provider of English language instruction in the
country.
In-line with the terms of the exclusive education agreements
signed in August 2016 with Wall Street English, Myanmar Strategic
Holdings is committed to the expansion of the Wall Street English
brand across Myanmar. The Company is assessing a number of growth
opportunities to meet the target of opening up to ten Wall Street
English centres in Myanmar over the course of the ten-year
agreement.
Commenting, Enrico Cesenni, Chief Executive Officer of Myanmar
Strategic Holdings, said: "We are pleased to announce the planned
opening of the fourth Wall Street English centre in Myanmar. This
fourth centre is a true testament to the success of the three
centres operating in Yangon and delivering internationally
recognised standards of education, and to the strength of the
on-going partnership with Wall Street English.
"This fourth centre opening also marks an expansion of the Wall
Street English brand in Myanmar, with this being the first centre
opened outside of Yangon. With economic growth forecast to remain
robust in Myanmar, the Board believes that it is right in targeting
popular areas, such as Yangon and Mandalay, where demand for
English learning for personal development is most evident. We look
forward to updating the market on our progress as we push forward
with rolling out up to a further six Wall Street English centres
across the country, as per the franchising agreement."
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)
Felicity Winkles
Henry Wilkinson +44 (0)20 3004 9512
Notes to editors
Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. is an independent developer and
manager of consumer businesses located in Myanmar, 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 in Myanmar.
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 was
opened in August 2018. In September 2019, MSH announced the planned
launch of a fourth Wall Street English centre in Mandalay. As of
March 2019, Wall Street English Myanmar served ca. 1,400 students.
Through the franchise, MSH also partnered with the Directorate of
Company Administration in Myanmar to provide English language
courses to its civil servants.
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, Construction Project Management and
Networking, Information Systems, and Security. English language
learning is also provided by the Company's nearby Wall Street
English centre.
The Company has also launched its first international school,
the Yangon American International School in Yangon, in August
2019.
Services sector: through its acquisition of EXERA, the Company
now offers security, risk management and secure logistics services,
including cash-in-transit. Founded in 2013, EXERA employs
approximately 1,100 guards 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
and 2018 (Source: Asian Development Bank). In 2019, its annual GDP
growth is expected to be about 7% (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.
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END
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