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Opening of fourth Wall Street English centre

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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 Chairman

Enrico Cesenni, Founder and CEO

 


[email protected]

[email protected]

 

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. 

 


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 [email protected] or visit www.rns.com.
 
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Quick facts: Myanmar Strategic Holdings

Price: 10.25

Market: LSE
Market Cap: $25.4 m
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