29 May 2019
Myanmar Strategic Holdings Ltd.
(“MSH” or the “Company” or the “Group”)
Award of security guarding services contract at the Singapore Embassy in Yangon
Myanmar Strategic Holdings (LSE: SHWE), an independent developer and manager of consumer businesses located in Myanmar, is delighted to announce that its fully owned subsidiary, EXERA Myanmar Ltd. (“Exera”), has been awarded the contract for the provision of security guarding services at the Singapore Embassy in Yangon for a period of three years.
As communicated by the Embassy of the Republic of Singapore in Yangon, the total tendered price is ca. US$478,329 for the initial period of three years and US$182,521 for the extension period of one year.
Mark Wakeford, Chief Executive Officer of EXERA, said:“We are very pleased to have been awarded this contract and. we look forward to building a strategic partnership with the Singapore Embassy while at the same time continuing to expand our coverage of other international embassies and NGOs across the country.”
Enrico Cesenni, Chief Executive Officer of Myanmar Strategic Holdings, said:“Following the appointment of Mark Wakeford as Chief Executive Officer of EXERA in October 2018, EXERA has undergone a process of significant transformation and integration within the Group. Momentum is gradually building up as EXERA invests in and grows its bidding capabilities and while foreign and local investors continue to scale their presence in Myanmar and increasingly appreciate the need to protect their investments and their people.”
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 launched its first 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 1,100 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 and 2020, 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.