SHWE.L Regulatory News (SHWE)

15 May 2020

Myanmar Strategic Holdings Ltd.

("MSH" or the "Company" or the "Group")

Senior Management Appointments and Change of Board Role

Myanmar Strategic Holdings (LSE: SHWE), an independent developer and manager of consumer businesses located in Myanmar, today announces several senior management changes and appointments across core Group management functions including operations, finance, human resources and legal.

The Board of MSH is delighted to confirm the non-board Group appointments of Alain Thibault as Chief Operating Officer, Darius Shey as Senior Advisor to the Group, Wint Wint Htet Hlaing as Chief Financial Officer, Michael Hall as Chief Human Resources Officer and Anurag Sharma as General Counsel.

The Board also announces that Dennis Yeo will be stepping down as Chief Financial Officer, with immediate effect, and will continue to serve on the Board as a Non-Executive Director. Wint Wint Htet Hlaing will succeed Dennis Yeo as Chief Financial Officer in a non-board capacity.

Bringing a wealth of experience and expertise in the local and international markets, these appointments reflect MSH's continued ambition to develop and deliver quality services in each of the sectors in which it operates. The new members of Group management will work alongside divisional leadership, shaping and driving the Group's growth strategy and enhancing its service offering.

Senior Management and Board Role Changes

Chief Operating Officer, Alain Thibault

Alain Thibault has been newly appointed to Chief Operating Officer of the Group, a role which he will be carrying out alongside his existing position as Chief Executive Officer of Wall Street English and Auston College Myanmar.

Prior to joining MSH in August 2018, Alain spent over 15 years building and transforming operational capabilities across multiple industries with a focus on enabling scale, efficiency, insights and transparency.

Based in Asia since 2009, Alain first joined Accenture, before taking over senior management positions in organisations such as Lazada and Air Asia, where he put his passion for people development and digitalisation to play, driving innovation and scalability.

Alain earned an MBA from INSEAD and an undergraduate degree in Industrial Engineering at Ecole Polytechnique de Montreal.

Senior Advisor to the Group, Darius Shey

Having previously held the role of Advisor to MSH's education division and having been a key contributor in the establishment of Yangon American International School, Darius Shey has moved into the role of Senior Advisor to the Group, advising on optimising the Company's strategy and operations.

Before joining MSH in June 2018, Darius spent over 20 years in strategy consulting and C-level management roles, focused on refining, commercialising and scaling businesses in education, hospitality and other consumer service sectors.

Darius's experience spans 30 countries including over 12 years in Asia Pacific. Most recently, he was global COO of a Singapore-based international education company operating seven brands serving 25,000 students in Asia, Europe, and the U.S. Prior to that, he was EVP at Club Quarters, a New York based hotel company started by the Founder of Priceline.com. He has also held roles with Richard Chandler Corporation, British Airways, Four Seasons Hotels, and Arthur Andersen.

Darius earned an MBA from INSEAD and his undergraduate degree from William & Mary (USA).

Non-Executive Director, Dennis Yeo Ting Teck

After 4 years with the Company, Dennis Yeo Ting Teck has decided to step down from his day to day responsibilities as Chief Financial Officer of the Company. Dennis has been instrumental in the significant growth of the Company and will remain on the Board of the Company as a Non-Executive Director.

Senior Management Appointments

Chief Financial Officer, Wint Wint Htet Hlaing

Wint Wint Htet Hlaing has been newly appointed as Chief Financial Officer of MSH, succeeding Dennis Yeo Ting Teck.

Prior to joining the Group, Wint spent over 14 years holding a variety of roles in accounting, corporate finance and development finance. Wint started her career in public accounting with RSM US LLP in California and later joined the US subsidiary of Legal & General Group plc as a senior financial analyst. Upon her return to Myanmar in 2013, Wint joined the Myanmar conglomerate FMI/SPA Group and held senior management roles in the finance division, including as Finance Director for FMI's listing preparation on the YSX. Wint then worked in the development sector in pursuit of her passion for bringing responsible investments to Myanmar.

Her most recent role as Head of Corporate Development at a Yangon Government owned enterprise involved investment negotiations for mega infrastructure development projects in Yangon.

Wint earned a bachelor's degree in Economics from the University of California, Los Angeles and obtained her CPA license in the State of California.

Chief Human Resources Officer, Michael Hall

Prior to joining MSH as Chief Human Resources Officer, Michael Hall spent eight years in start-up environments focused on emerging markets. Michael has held HR leadership positions in Myanmar with leading Fintech player Wave Money and with developer POSCO International, on a major oil and gas development.

Michael brings a total of 18 years' experience working with leading MNC and start-ups, developing human resource capabilities for businesses experiencing unprecedented change through major projects across natural resources, infrastructure, financial services, technology and professional services in the UK, Australian and SE Asian markets.

General Counsel, Anurag Sharma

Anurag Sharma joins the Group as General Counsel having spent over 18 years in several key roles with MNCs and law firms, and as an independent legal counsel. Anurag has handled several key mergers, acquisitions, disputes, investment rounds and joint venture transactions. Anurag's strength lies in his ability to build strong legal teams capable of delivering results.

As a General Counsel, Anurag has headed legal departments of companies engaged in a wide array of businesses ranging from pharmaceuticals (Abbott, Biocon and DSM) to technology, transport aggregation, and e-commerce (OLA, Foodpanda, and Rivigo).

Anurag completed his Bachelor of Law degree from Campus Law Centre, University of Delhi in 2001, prior to which, he received a degree in Commerce from the same university.

Commenting, Enrico Cesenni, Chief Executive Officer of Myanmar Strategic Holdings, said: 

"The Board and I are very excited to formally announce these senior appointments. Despite these challenging times, Myanmar continues to grow and we remain confident in our strategy and therefore, it is key for MSH to continue investing in its management team.

"We have now put in place a strong core management team that will work hand in hand with the divisional leadership to fine tune operations, improve systems and processes, and share knowledge across the Group, which will be integral in the ongoing growth and success of our businesses."

For more information please visit www.ms-holdings.com or contact:

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, a third in August 2018, and a fourth in February 2020. As of April 2020, Wall Street English Myanmar served ca. 4,000 students since its inception.

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 was one of the fastest growing economies in Asia in 2017-2019 (Source: Asian Development Bank). In 2020 and 2021, its annual GDP growth is expected to be respectively 4% and 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. 

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