11 Apr 2019 13:23
11 April 2019
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
Receipt of MIC Investment Permit for the Yangon American International School
Myanmar Strategic Holdings (LSE: SHWE), an independent developer and manager of consumer businesses located in Myanmar, is delighted to announce that it has received an investment permit from the Myanmar Investment Commission ("MIC") in relation to the Company's first international school, the Yangon American International School ("Yangon American").
The investment permit has been granted under the 2016 Investment Law, following the issue of MIC Notification No. 7 of 2018 for carrying out investment activities in education services and private international school(s).
The team is also pleased to announce that the refurbishment of the Yangon American facilities is well under way and scheduled to complete by May 2019. As announced on 5 December 2018, the school, with planned capacity for up to 400 students, is targeted to launch in Yangon in August 2019.
Commenting, Enrico Cesenni, Chief Executive Officer of Myanmar Strategic Holdings, said:
"The receipt of this investment permit issued by the MIC further demonstrates Myanmar's commitment to providing a premium level of education for the country's next generations. Myanmar Strategic Holdings is excited about the opportunity to lead this trend through the provision of education at internationally recognised standards at the Yangon American International School, which will be positioned as a leading educational institution.
"The investment permit will also enable the Company to fully own its investment in the Yangon American International School, while providing additional investment protection and tax benefits to the Company."
For more information please visit www.ms-holdings.com or contact:
Myanmar Strategic Holdings Ltd. Enrico Cesenni, Founder and CEO | enrico@ms-holdings.com
|
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. 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 is also set to launch its first international school, the Yangon American International School in Yangon, in August 2019. Refurbishments of the Yangon American facilities are currently underway.
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.