REG - Asia Strategic Ltd - Exclusive franchising agreement with Logiscool

Asia Strategic HoldingsAnnouncement

27/06/2023 07:15

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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
(http://www.asia-strategic.com) or contact:

 Asia Strategic Holdings Ltd.                        richard@asia-strategic.com (mailto:richard@asia-strategic.com)

 Richard Greer, Independent Non-Executive Chairman   enrico@asia-strategic.com (mailto:enrico@asia-strategic.com)

 Enrico Cesenni (OSI), Founder and CEO

 Allenby Capital Limited (Broker)                    +44 (0)20 3328 5656

 Nick Athanas

 Nick Naylor

 Lauren Wright

 Yellow Jersey PR (Financial PR)                     +44 (0) 20 3004 9512

 Sarah Hollins

 Bessie Elliot

 

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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the 'RNS' header: https://asia-strategic.com/investor-relations/
(https://asia-strategic.com/investor-relations/)

 

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