TIDMASIA
RNS Number : 8796T
Asia Strategic Holdings Limited
22 March 2023
22 March 2023
Asia Strategic Holdings Ltd.
("Asia Strategic" or the "Company")
Result of AGM and Directorate Change
Asia Strategic Holdings Ltd. (LSE: ASIA), the independent
developer and operator of consumer businesses located in emerging
Asia , is pleased to announce that at the Company's Annual General
Meeting ("AGM"), held earlier today, all resolutions were duly
passed.
Further to the announcement released by the Company on 22
February 2023, Dennis Yeo (Non-Executive Director) did not seek
re-election as a director at the AGM and as a result he has ceased
to be a director of the Company with immediate effect.
For more information please visit www.asia-strategic.com or
contact:
Asia Strategic Holdings Ltd.
Richard Greer, Independent Non-Executive richard@asia-strategic.com
Chairman enrico@asia-strategic.com
Enrico Cesenni (OSI), Founder and Chief
Executive Officer
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor +44 (0)20 3328 5656
Yellow Jersey PR (Financial PR)
Sarah Hollins
Bessie Elliot +44 (0)20 3004 9512
Notes to editors
Asia Strategic Holdings Ltd.
Asia Strategic Holdings Ltd. (LSE: ASIA) is an independent
developer and operator of consumer businesses in emerging Asia. The
Company's portfolio focuses on Education and Services with the view
to expand within the broader consumer sector and is located in
Vietnam and Myanmar, two of the fastest growing economies in the
world over the last decade.
Education sector: the Company operates a range of brands across
English language learning, tertiary education and K-12. As of
September 2022, it operated 14 schools (19 as of February 2023),
serving over 7,500 students.
The Company currently has exclusive development and franchising
agreements with Wall Street English for up to ten English language
centres across Myanmar. As of September 2022, Wall Street English
Myanmar served over 3,100 students through 4 centres (5 as of
February 2023).
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 3,800 students as of September 2022.
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. As of September 2022, Auston
University served ca. 500 students.
In August 2019 the Company launched its first private K-12
international school, the Yangon American International School
("Yangon American") in Yangon. In July 2021 Yangon American was
recognised as an official International Baccalaureate Primary Years
Programme ("IB PYP") school by the International Baccalaureate
Organization.
In April 2022, the Company entered into an exclusive franchising
agreement with Kids&Us for the development of English language
schools for children across Myanmar. The first two centres shall be
opened in Yangon by June 2023.
In August 2022, the Company entered into an exclusive
franchising agreement with Kids&Us for the development of
English language schools for children across Vietnam. The first
four centres are already operational in Ho Chi Minh.
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 1,600 well-trained and high-quality security officers
making it one of the largest security services providers in
Myanmar.
Furthermore, the Company provides hospitality services, managing
two boutique hotels in core tourist locations in Myanmar, operating
under the award winning Ostello Bello budget hospitality brand. The
Company operates an asset light strategy, entering into long-term
operating and management agreements with local hotel owners.
Vietnam and Myanmar were among the fastest growing economies in
Asia in 2017-2020 (Source: Asian Development Bank). In 2023,
Vietnam's and Myanmar's annual GDP growth are expected to be 8.5%
and 4.0% respectively (Source: Asian Development Bank).
The Company is well positioned to provide investors early
exposure to Vietnam's and Myanmar's strong economic fundamentals
enhanced by ASEAN's wider growth prospects.
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END
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March 22, 2023 06:45 ET (10:45 GMT)
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