29 Jan 2021 11:45
29 January 2021
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company")
Update on timing for publication of accounts for 18-month period to 30 September 2020
Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent developer and operator of consumer businesses located in Myanmar and Vietnam, announces that the Company intends to release its results for the 18-month period to 30 September 2020 ("FY20") by no later than the end of March 2021.
As announced by the Company on 23 March 2020, all Myanmar companies had to change their year end to September. The Company's updated reporting timetable was set out in the announcement released on 23 March 2020, in accordance with the decision by the Myanmar Government.
Under normal reporting timetables the Company would be obliged, under the Disclosure Guidance and Transparency Rules, to publish its FY20 results by no later than 31 January 2021. The FCA has announced temporary relief for listed companies facing the challenges of corporate reporting during the coronavirus crisis and this relief permits listed companies an additional two months to publish their financial statements.
As a result the Company now expects to publish its FY20 accounts during March 2021.
Further updates will be released by the Company at the appropriate 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
| richardgreer@me.com enrico@ms-holdings.com
|
Allenby Capital Limited (Broker) Nick Athanas Nick Naylor
| +44 (0)20 3328 5656
|
Yellow Jersey PR (Financial PR) Georgia Colkin Henry Wilkinson | +44 (0) 7951 402 336
|
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 2020, 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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