Award of security guarding services contract

RNS Number : 4393Z

Myanmar Strategic Holdings Ltd

17 May 2019

 

17 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.

Commenting, 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."

Commenting, 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."

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

Myanmar Strategic Holdings Ltd. Enrico Cesenni, Founder and CEO	[e-mail]
Allenby Capital Limited (Broker) Nick Athanas Nick Naylor Nicholas Chambers	[phone]
Yellow Jersey PR (Financial PR) Felicity Winkles Henry Wilkinson	[phone]

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. Refurbishment of the Yangon American facilities has been completed in May 2019 and enrolment of students is 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. 

About EXERA

Founded in 2012 and acquired by Myannmar Strategic Holdings in May 2018, EXERA provides a range of ISO accredited risk management, consultancy, integrated security and secure logistics services. Our strategy is to provide customers with outstanding quality, price and service delivery performance. We are targeting market sectors where high quality security provision and the outsourced management of risk are key customer priorities. Exera has 1,200 staff working on 130 sites across Myanmar. We are ISO 9001:2015 and OHSAS accredited. We are also the first company in Myanmar to be awarded ISO 18788 (Management System for Private Security Operations) which enables Exera to establish, implement, maintain and continuously improve security operations. Our customers include a wide range of international and local clients across sectors including Oil & Gas, Telecoms, Education, Government bodies and humanitarian organisations such as WFP, UNDP, UNHCR and UNICEF.

 

END

 

 

NRACKODNDBKDKPD