Wall Street English award
30 May 2019
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
Wall Street English wins "Best Education Platform of the Year"
at the EducationInvestor Asia Awards 2019
Myanmar Strategic Holdings (LSE: SHWE), an independent developer and manager of consumer businesses located in Myanmar, is delighted to note that its franchisor, Wall Street English ("WSE"), one of the world's largest providers of English language education to adults, has been awarded "Best Education Platform of the Year" at the EducationInvestor Asia Awards 2019.
The EducationInvestor Asia Awards, which took place in Singapore on 16 May 2019, promote excellence and innovation in the business of education in Asia.
MSH currently has exclusive development and franchising agreements with Wall Street English for up to ten English language centres across Myanmar over the course of a ten-year agreement. Three centres are now open, with the most recent centre opening in August 2018.
Commenting, Enrico Cesenni, Chief Executive Officer of Myanmar Strategic Holdings, said: "We are very proud to learn that Wall Street English has been awarded "Best Education Platform of the Year" at this year's EducationInvestor Asia Awards. This internationally-recognised award is a true testament of the hard work and continued dedication of the WSE team as they strive to deliver operational excellence in the education sector.
"It is of paramount importance to us that we work in partnership alongside reputable entities, such as Wall Street English, which have similar ambitions to ours in education. As such, we hold our relationship with WSE in high regard and we look forward to furthering together our positive impact on Myanmar, where English literacy has proven crucial for the country's development."
For more information please visit www.ms-holdings.com or contact:
Myanmar Strategic Holdings Ltd.
Enrico Cesenni, Founder and CEO
Allenby Capital Limited (Broker)
+44 (0)20 3328 5656
Yellow Jersey PR (Financial PR)
+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. 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 is also set to launch its first international school, the Yangon American International School in Yangon, in August 2019. Refurbishment of the Yangon American facilities was completed in May 2019 and enrolment of students is currently underway.
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.
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.
In May 2019, Wall Street English was awarded "Best Education Platform of the Year" at the EducationInvestor Asia Awards 2019.
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