TIDMSHWE
RNS Number : 8876Y
Myanmar Strategic Holdings Ltd
11 December 2017
11 December 2017
Myanmar Strategic Holdings Ltd.
("Myanmar Strategic Holdings" or the "Company" or the
"Group")
Opening of second Wall Street English centre
Myanmar Strategic Holdings (LSE: SHWE), the independent
developer and operator of consumer businesses located in Myanmar,
one of the fastest growing economies in the world, is delighted to
announce the opening of its second Wall Street English learning
centre in Myanmar.
The new centre, which spans 600 square metres, is located in the
popular City Mall St. John in downtown Yangon, Myanmar's largest
city. The centre, positioned in an easily accessible location,
operates according to internationally recognised standards and
offers students access to a first-rate English language education
using a blended learning methodology.
The opening of this new centre follows the successful
establishment of the first Wall Street English learning centre,
which opened in February 2017 in Junction Square, Yangon, and now
has over 800 students.
English speakers are in high demand in Myanmar's expanding
economy and the Wall Street English brand continues to entrench
itself as a leading provider of English language teaching in the
country. The Board of Myanmar Strategic Holdings believe that only
a few operators are able to offer the same flexible and integrated
teaching solutions and student success rate.
In accordance with the terms of the exclusive education
agreements, signed in August 2016 with Pearson to operate and grow
the Wall Street English brand nationwide in Myanmar, the Company is
currently assessing further growth opportunities in order to meet
the targets set of opening up to 10 Wall Street English centres in
Myanmar over the course of the 10 year agreement.
Commenting on the opening, Enrico Cesenni, CEO of Myanmar
Strategic Holdings, said: "Having witnessed the success of our
first English language centre, we are extremely excited about the
prospects for further expansion of the Wall Street English network.
Myanmar is currently ranked as one of the top countries in this
global network in terms of student progress, and we aim to continue
to build upon this by offering an unrivalled quality of
education.
"In a market that is experiencing rapid growth, we believe we
are well placed to leverage our local network and expertise to
identify opportunities to further develop and diversify our
offering in the Education sector. We are already focusing on a
number of areas, including vocational training in engineering and
hospitality, and look forward to updating shareholders on our
progress in due course."
Enquiries
Richard Greer Enrico Cesenni
Chairman of the Board Chief Executive Officer
Myanmar Strategic Holdings Myanmar Strategic Holdings
Ltd. Ltd.
Broker: Allenby Capital PR Agency: Yellow Jersey
Limited Georgia Colkin / Joe Burgess
Nick Athanas / Nick Naylor +44 (0)203 735 8825
+44 20 3328 5656 msh@yellowjerseypr.com
n.athanas@allenbycapital.com
Further information can be obtained from the company's website
www.ms-holdings.com
About Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. 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 474 beds
across 4 boutique hostels in 3 core tourist locations across
Myanmar operating under the award winning Ostello Bello budget
hospitality brand. It operates an asset light strategy, 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
10 Wall Street English language centres across Myanmar within the
next 10 years. In February 2017, the first WSE centre was opened
and now has over 800 students, the second centre opened in December
2017.
Myanmar is currently the 4(th) fastest growing (as of March
2017) and of one the most promising economies within Asia Pacific.
Its annual GDP growth is expected to stand at 7.7% in 2017/2018,
making it one of the top 10 fastest growing economies in the world,
whilst the number of middle class consumers in Myanmar is also
expected to double by 2020.
Myanmar Strategic Holdings is well positioned to grant 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 is one of the largest global English language
learning franchises worldwide. In 2016 WSE served 180,000 learners
and operated 70 corporate owned centres in China, nine corporate
owned centres in Italy and 321 franchised centres across 27
territories.
Under the Area Development Agreement, Myanmar Strategic Holdings
acquired the exclusive rights to develop up to ten Wall Street
English centres in ten years. While Pearson will licence the Wall
Street English brand and provide the related learning methodology
and educational materials, Myanmar Strategic Holdings will be
responsible, among other things, for identifying suitable
locations, fitting out the centres and managing day to day
operations.
In November 2017 Pearson agreed to sell Wall Street English to a
consortium consisting of funds affiliated with Baring Private
Equity Asia and CITIC Capital.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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