20 July 2018
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
Partnership with MCTA:RVi Academy Mandalay to provide English language training
Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent developer and manager of consumer businesses located in Myanmar, one of the fastest growing economies in the world, is pleased to announce that it will be partnering with the MCTA:RVi Academy Mandalay ("MCTA"), the international school dedicated to providing high quality education to the best and brightest young people in the region, to provide English language training within the premises of MCTA's Mandalay campus.
Under the terms of the two-year partnership, commencing today, MSH will build an on-site learning centre dedicated to MCTA's senior students. The cost of setting up and operating the centre will be entirely absorbed by MSH. Under the agreement, MSH will receive a management fee linked to the operating performance of the operations managed by MSH under the partnership with MCTA.
MSH has a long-standing commitment to English language learning which culminated in its partnership with Wall Street English in August 2016. MSH's Board believe that English proficiency accelerates the transfer of knowledge and fosters social mobility by enabling talent to flourish. Since the opening of the Company's first Wall Street English centre in 2017, it has helped over 1,800 students and participated in several teaching programmes in aid of capacity building within the local communities. Among other initiatives, Wall Street English provided English language courses to officials within the Directorate of Investment and Company Administration.
Enrico Cesenni, Chief Executive Officer of Myanmar Strategic Holdings: "We are delighted to partner with MCTA and bring Wall Street English's best-in-class blended learning methodology to Mandalay. Both organisations are focused on providing high quality education to the best and brightest people in the region and English language learning should significantly accelerate the development of the region and widen the horizons of the local population."
U Myint Naying, Chairman of MCTA:RVi Academy Mandalay and Argus Ang, Chief Executive Officer of RVi Group: "We are proud to announce our partnership with Wall Street English and to offer our students this unique learning opportunity. After a long selection process, we believe that Wall Street English offers the unique English language training in the country and that its flexible and blended learning methodology will be easily integrated within MCTA's current curriculum. We look forward to growing this partnership and creating further opportunities to improve the quality of education in the Mandalay region."
For more information please visit www.ms-holdings.com or contact:
Myanmar Strategic Holdings Ltd. Enrico Cesenni, Founder and CEO |
[email protected] |
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 operator 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, as of March 2018, they served over 1,000 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. 1,000 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.
