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Company Announcements

Opening of third Wall Street English centre

By LSE RNS

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 Cesenni, Founder and CEO

 

enrico@ms-holdings.com

 

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.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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