Myanmar Strategic Holdings Ltd MSH opens fourth Wall Street English centre (1161D)

TIDMSHWE

RNS Number : 1161D

Myanmar Strategic Holdings Ltd

17 February 2020

17 February 2020

Myanmar Strategic Holdings Ltd.

("MSH" or the "Company" or the "Group")

MSH opens 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 that, further to the announcement made on 6 September 2019, the Company's fourth Wall Street English language centre has officially opened.

The opening follows 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 and currently serve approximately 1,550 students.

The latest centre, which is expected to have capacity for 800 students, spans 650 square metres and is located in the Mingalar Mandalay shopping mall in central Mandalay, Myanmar's second-largest city. 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 in person at the centre.

MSH is committed to the expansion of the Wall Street English brand across Myanmar, in-line with the terms of the exclusive education agreement signed in August 2016 with Wall Street English. The Company continues to assess 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, Alain Thibault, Chief Executive Officer of Wall Street English Myanmar, said: " We are delighted to announce the opening of the fourth Wall Street English centre in Myanmar and the first outside of Yangon. Following success at our other three centres, we believe that now is the opportune moment for us to increase Wall Street English's presence further across the country, while strengthening our position in this growing sector.

"Quality English language tuition remains in high demand in Myanmar, particularly in more popular areas such as Mandalay and Yangon. We are consistently looking for opportunities to expand Wall Street English's reach in Myanmar and continue to have a very positive impact on Myanmar's society by offering our students an unparalleled product and service, enabling them to achieve their goals through the mastery of the English language. We have the conviction that the establishment of the new centre in Mandalay will be advantageous for the local population as well as for the growth of the Wall Street English brand."

For more information please visit www.ms-holdings.com or contact:

 
 Myanmar Strategic Holdings Ltd. 
  Richard Greer, Independent Non-Executive     [e-mail] 
  Chairman                                     [e-mail] 
  Enrico Cesenni, Founder and CEO 
 Allenby Capital Limited (Broker) 
  Nick Athanas 
  Nick Naylor 
  Nicholas Chambers                           [phone] 
 Yellow Jersey PR (Financial PR) 
  Georgia Colkin 
  Henry Wilkinson                             [phone] 
 

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, a third in August 2018, and a fourth in February 2020. As of February 2020, Wall Street English Myanmar served ca. 4,000 students since its inception.

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.

The Company launched its first 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 1,100 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 and 2020, 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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February 17, 2020 02:00 ET (07:00 GMT)