Opening of third Wall Street English centre

RNS Number : 5607K

Myanmar Strategic Holdings Ltd

11 April 2018

 

11 April 2018

  Myanmar Strategic Holdings Ltd.

("Myanmar Strategic Holdings" or the "Company" or the "Group")

Opening of third Wall Street English centre

Myanmar Strategic Holdings (LSE: SHWE) ("MSH"), an independent developer and operator of consumer businesses in Myanmar, one of the fastest growing economies in the world, is delighted to announce the planned opening of its third Wall Street English language centre in Myanmar.

The new centre, expected to open by August 2018, will span 350 square metres and will be located in the popular Myanmar Plaza mall in central Yangon, Myanmar's largest city and economic hub. The centre, positioned in an easily accessible location, 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 two Wall Street English learning centres, which opened in February and December of 2017, respectively. Wall Street English in Myanmar currently serves over 1,000 students across the two centres (as of March 2018).

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 Pearson, 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 on the opening, Enrico Cesenni, CEO of Myanmar Strategic Holdings, said: 

"I am delighted to announce the planned opening of the third Wall Street English centre. The first two centres have been a huge success, enrolling and educating over 1,000 students over the last 12 months."

"As Myanmar continues to develop and open its doors to the global economy, the need to speak and write English only grows in importance. With this in mind, we are extremely pleased to have partnered with Wall Street English and to be pioneering their world renowned English language teaching programme across the country."

"The Board continues to seek new opportunities in this exciting market and is confident in its ability to identify areas of rapid growth. I look forward to providing further updates as we expand the Group's presence across the country."

Enquiries

Richard Greer Chairman of the Board Myanmar Strategic Holdings Ltd.	Enrico Cesenni Chief Executive Officer Myanmar Strategic Holdings Ltd.
Broker: Allenby Capital Limited Nick Athanas / Nick Naylor / Nick Chambers [phone] [e-mail]	PR Agency: Yellow Jersey Georgia Colkin / Joe Burgess [phone] [e-mail]

Further information can be obtained from the company's website www.ms-holdings.com

About Myanmar Strategic Holdings Ltd.

Myanmar Strategic Holdings Ltd. ("MSH") is an independent developer and operator of consumer businesses located in Myanmar, one of the fastest growing economies in the world. Initially concentrating on Hospitality and Education, the Company intends to focus on the broader consumer sector in Myanmar as it grows.

The Company's earliest investments have been in the Hospitality sector. Through its portfolio, the Company manages over 470 beds across four boutique hostels in three core tourist locations in Myanmar.   The Company operates under the award winning Ostello Bello budget hospitality brand. An asset light strategy is followed, entering into long-term operating and management agreements with local hostel owners.

Within its Education division, the Company currently has exclusive development and franchising agreements with Pearson for ten Wall Street 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.

The Company has also signed a joint venture with Auston Institute of Management to develop and operate the Auston College Myanmar.  The private school will open in May 2018 and will initially offer the following curriculum: (i) Diploma in Engineering Technology, (ii) Diploma in Construction Project Management and (iii) Diploma in Networking, Information Systems, and Security. English language learning will also be provided by the Company's nearby Wall Street English centre.

Myanmar is expected to be the fastest growing economy in Asia in 2017 (Source: Asian Development Bank). In 2018, its annual GDP growth is expected to be ~8.0% in 2018 (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.

About Wall Street English

Founded in Italy in 1972 and acquired by Pearson in 2010, 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 Pearson 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.

 

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