Strategic minority investment in NEXLABS

RNS Number : 6515O

Myanmar Strategic Holdings Ltd

21 May 2018

 

21 May 2018

Myanmar Strategic Holdings Ltd.

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

Strategic minority investment in NEXLABS, a leading digital consulting firm in Myanmar

Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent developer and operator of consumer focussed businesses located in Myanmar, one of the fastest growing economies in the world, is pleased to announce that it has agreed to make a strategic minority investment in digital consulting firm, NEXLABS, worth a total of US$150,000.

Founded in 2013 in Yangon and employing over 80 dynamic professionals, NEXLABS is one of Myanmar's leading digital consulting firms. Over the past five years, under the experienced leadership of founder and CEO Ye Myat Min, NEXLABS has created and developed digital products and integrated marketing solutions for a broad range of international and local brands. NEXLABS' key customers include Carlsberg, Samsung, Wall Street English, MPT, City Mart Holdings, Wave Money and Yoma Bank, among others.

Commenting on the investment, Enrico Cesenni, CEO of Myanmar Strategic Holdings, said: 

"I am delighted to announce the Company's investment into NEXLABS, a firm that has, in a space of just five years, established itself as a leader in Myanmar's flourishing digital landscape. The investment reflects our aim of growing MSH's presence in Myanmar through diversification into strategically important sectors, whilst also maintaining a high-quality service offering across our established portfolio of hospitality and education businesses.

The Board sees this investment as a fantastic opportunity to gain exposure to Myanmar's digital economy, the rapid growth of which is underpinned by a young, tech savvy population. We are confident that the investment will position the Company well in this exciting growth area and we look forward to exploring opportunities for further diversification."

Commenting, Ye Myat Min, CEO of NEXLABS, said: 

"We are glad to welcome Myanmar Strategic Holdings to our established institutional investor base. Myanmar Strategic Holdings will complement the skill set of our shareholders, offering on-the-ground knowledge and execution capabilities.

NEXLABS will continue to contribute to the execution of MSH's ambitious goals, particularly in its education business where NEXLABS has been instrumental to establishing Wall Street English's digital platform since its foundation in 2017.

"Finally, I also look forward to further leveraging Myanmar Strategic Holdings' capabilities to help grow Myanmar's digital ecosystem by identifying and building up national and regional leaders."

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) Georgia Colkin Joe Burgess Henry Wilkinson	[phone] [phone] [phone]

About Myanmar Strategic Holdings Ltd.

Myanmar Strategic Holdings Ltd. is an independent developer and operator of consumer focussed 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 currently manages over 470 beds across 4 boutique hostels in 3 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 hostel owners.

Within its Education division, 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, as of March 2018, they served over 1,000 students. A third centre is scheduled for opening in August 2018.

The Company has also signed a joint venture with Auston Institute of Management to develop and operate the Auston College Myanmar. The private school opened in May 2018 and offers the following curriculum: (i) Diploma in Engineering Technology, (ii) Diploma in Construction Project Management and (iii) Diploma in Networking, Information Systems, and Security. English language learning will also be provided by the Company's nearby Wall Street English centre.

Myanmar has been one of the fastest growing economy in Asia in 2017 (Source: Asian Development Bank). In 2018, its annual GDP growth is expected to be about 8% (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 NEXLABS

NEXLABS is a leading digital consulting firm based in Myanmar. NEXLABS helps international companies customise their service to the local market, assists local businesses to understand how they could be adopting digital technology to grow more efficiently and works collaboratively with entrepreneurs to build new digital business models and products.

The services offered by NEXLABS include developing websites and applications, creating bespoke solutions, managing brand identity and social media as well as analysing customer insights. Its customers include Yoma Bank, Singapore Tourism Board, Wave Money, City Mart Holdings, Wall Street English, Total, the European Union delegation and other local and international enterprises. 

https://nexlabs.co

 

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