TIDMASIA
RNS Number : 9580D
Asia Strategic Holdings Limited
27 June 2023
27 June 2023
Asia Strategic Holdings Ltd.
("Asia Strategic" or the "Company")
Exclusive franchising agreement for the development
of "Logiscool" in Vietnam and Myanmar
Asia Strategic Holdings Ltd. (LSE: ASIA), the independent
developer and operator of consumer businesses located in emerging
Asia, is pleased to announce that it has entered into an exclusive
franchising agreement with Logiscool, kft ("Logiscool") for the
development of coding schools for children under the brand
"Logiscool" in Vietnam and Myanmar.
Logiscool teaches children coding and digital literacy in
fun-based after-school centres. Founded in Budapest, Hungary, in
2014, Logiscool has taught over 185,000 students across ca. 170
locations in 35 countries.
Logiscool's unique educational platform is developed for easy
transition from visual coding to text-based programming
languages:
-- Blox coding: children start coding education with "building
blocks". This unique visual coding method is always best adjusted
to all ages and knowledge levels.
-- Mix coding: as a second step, students start writing codes in
MIX mode, where they can see both the building block and the
text-based languages in parallel.
-- Text coding: once students feel confident to leave the visual
blocks behind, they move to text-based programming languages, like
Python, Unity, Godot or C#.
Under the terms of this exclusive franchising agreement, the
Company shall pay Logiscool (i) an initial fee across both
countries and (ii) ongoing service fees as a percentage of
revenues. These fees are in line with similar franchising
agreements entered into by the Company.
The Company is planning for its first two centres in Yangon and
Ho Chi Minh to be operational by the end of 2023, leveraging the
strong operational expertise and the Group's resources on the
ground.
Commenting on the partnership, Gyula Csitári and Dr. Anita
Breuer, founders of Logiscool, said : "We are delighted that we
have agreed to this strategic partnership with Asia Strategic
Holdings for the provision of fun-based coding to children in both
Vietnam and Myanmar. By boosting digital literacy, we aim to
contribute to the development of both countries and future-proof
the younger generations. We look forward to a long and prosperous
relationship with Asia Strategic Holdings and further expanding the
Logiscool global brand into emerging Asia."
Commenting, Enrico Cesenni, Chief Executive Officer of Asia
Strategic Holdings, said: "Over the years, Asia Strategic Holdings
has assessed several brands and teaching methodologies. With a
presence across 35 countries and an award-winning proprietary
methodology, Logiscool has emerged as a clear leader with an
excellent offline and online product. The addition of Logiscool
helps materialise the Group's goal of providing quality STEM
education for all ages in emerging Asia and preparing the local
youths for the economy of tomorrow. We hope that this partnership
marks the beginning of a highly beneficial, mutual relationship
with Logiscool."
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 CEO
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor
Lauren Wright +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 June
2023, it operated 20 schools (19 at 31 March 2023), serving ca.
8,200 students (ca. 8,100 at 31 March 2023).
The Company currently has exclusive development and franchising
agreements with Wall Street English to develop English language
centres across Myanmar. As of June 2023, Wall Street English
Myanmar served over 3,600 students through five centres.
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 Duong serving over 3,700 students (3,600 at 31 March
2023).
The Company also operates a joint venture with Auston Institute
of Management to develop and operate the Auston University. Auston
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 its
teaching staff in Myanmar. As of 30 June 2023, Auston University
served ca. 600 students (580 at 31 March 2023).
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 centre opened in
Yangon in 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 operational in Ho Chi Minh.
Services sector: through its acquisition of EXERA, the Company
offers security, risk management and secure logistics services.
Founded in 2013, EXERA employs approximately 1,400 well-trained and
high-quality security officers (1,500 on 31 March 2023) making it
one of the largest security services providers accredited to "ISO
18788 Management System for Private Security Companies" 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). Vietnam's
annual GDP growth rate is expected to be 6.5% in 2023 and 6.8% in
2024, while Myanmar's is expected to be 2.8% in 2023 and 3.2% in
2024 (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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(END) Dow Jones Newswires
June 27, 2023 02:00 ET (06:00 GMT)
Asia Strategic (LSE:ASIA)
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Asia Strategic (LSE:ASIA)
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