11 Dec 2017 07:00
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 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 +44 20 3328 5656 n.athanas@allenbycapital.com
| PR Agency: Yellow Jersey Georgia Colkin / Joe Burgess +44 (0)203 735 8825 msh@yellowjerseypr.com
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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 4th 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.