Proposed Board Appointment

RNS Number : 1324Y

Myanmar Strategic Holdings Ltd

11 May 2021

 

11 May 2021

Myanmar Strategic Holdings Ltd.

("MSH" or the "Company")

Proposed Board Appointment

Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent developer and operator of consumer businesses located in Myanmar and Vietnam, announces the proposed Board appointment of Mr Jonathan Kolb as an Executive Director in the role of Chief Financial Officer. This appointment is subject to shareholder approval at the Company's Annual General Meeting, to be held on 18 May 2021.

Jonathan was appointed as the Company's Chief Financial Officer in July 2020 in a non-Board position and has been one of the Company's Myanmar-based partners since 2015, where he is responsible for sourcing and evaluating business and investment opportunities, as well as reviewing the performance of the existing portfolio of businesses.

Prior to joining MSH, Jonathan spent over 10 years in finance, of which the last four were based in South-East Asia. With a focus on real estate, Jonathan spent five years as a listed real estate fund manager at CenterSquare Investment Management, initially based in Philadelphia. He relocated to Singapore in 2012 to establish the Asian office and operations. Prior to attending business school, he analysed companies and their cash flows as a commercial lending underwriter at Bank of America  in Chicago.

Jonathan has an MBA from INSEAD and Bachelor's degrees in Finance and Accountancy from the University of Illinois - Urbana/Champaign. He is also a registered CPA in the state of Illinois and a CFA Charterholder, but is not currently active.

Enrico Cesenni, Chief Executive Officer of Myanmar Strategic Holdings, commented:

"We are delighted to announce Jonathan's appointment to MSH's Board as Executive Director, subject to shareholder approval at the Company's AGM.

"Jonathan has a wealth of experience across the finance sector and has been a founding member of the MSH team since he joined in 2015, having held key roles such as partner and as CFO in this time."

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	[e-mail] [e-mail]
Allenby Capital Limited (Broker) Nick Athanas Nick Naylor	[phone]
Yellow Jersey PR (Financial PR) Henry Wilkinson Matthew McHale	[phone]

Notes to editors

Myanmar Strategic Holdings Ltd.

Myanmar Strategic Holdings Ltd. (LSE: SHWE) is an independent developer and manager of consumer businesses in Myanmar and Vietnam, two 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.

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 April 2020, Wall Street English Myanmar served over 4,000 students since its inception.

In July 2020, the Company completed the acquisition of the Wall Street English business in Vietnam. Founded in 2013, the WSE Vietnam business operates through seven centres in Ho Chi Minh and Binh Dhuong serving over 6,000 students. 

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. In February 2020, the Company announced a partnership with Liverpool John Moores University to provide high quality engineering training programmes for young, working professionals in Myanmar, to be taught by Auston College Myanmar's teaching staff at its Junction Square complex in Yangon.

The Company launched its first private K-12 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 1,300 well-trained and high-quality security officers 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 and Vietnam were among the fastest growing economies in Asia in 2017-2019 (Source: Asian Development Bank). In 2021, their annual GDP growth is expected to be respectively 6.0% and 6.3% (Source: Asian Development Bank). 

MSH is well positioned to provide investors early exposure to Myanmar's and Vietnam's strong economic fundamentals enhanced by ASEAN's wider growth prospects. 

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