INVESTMENT NEWS IN CAMBODIA

From Noor Shamsiah Mohamed

May 30, 2008 00:11 AM

PHNOM PENH, May 29 (Bernama) — Malaysia has been the biggest investor in Cambodia for 14 consecutive years with investments totalling US$2.19 billion (RM7.3 billion).Malaysia’s Ambassador to Cambodia Datuk Adnan Otman said that according to the March 2008 report of the Development Council of Cambodia, Malaysia ranked top, followed by China with investments of AS$1.761 billion.

“Among the business carried out by Malaysian companies are power generation, textile manufacturing, construction, hotels, restaurants, telecommunications, insurance, banking and petroleum,” he said in his speech at a dinner hosted by the Malaysian Business Council in Cambodia at the Raffles Hotel Le Royal here Thursday.

Yang Di-Pertuan Agong Tuanku Mizan Zainal Abidin and the Raja Permaisuri Agong Tuanku Nur Zahirah, who are on a four-day official visit to Cambodia, were the guests-of-honour.

Adnan said Cambodia was becoming a popular destination for Malaysians, especially for those looking for business and investment opportunities.

The number of Malaysians who came to Cambodia in 2007 was 84,039 people, from 36,876 in 2006.

Cambodians who went to Malaysia in 2007 totalled 23,193 people compared with only 9,957 people in 2005,” he added.

Source:http://www.bernama.com/bernama/v3/news_lite.php?id=336186

MAYBANK OPENS SECOND BRANCH IN CAMBODIA

Bernama Bernama – Wednesday, March 19

KUALA LUMPUR, March 18 (Bernama) — Malayan Banking Bhd (Maybank) has opened a second branch in Cambodia as part of its strategy to grow its international network as well as to make inroads into the domestic markets where Maybank is present, a statement from the bank said here today. Located in Teukthla, Phnom Penh, the branch will add to the bank’s main branch in Phnom Penh, opened in December 1993.

ADVERTISEMENT Maybank senior executive vice president and head of International Business, Lim Hong Tat said, “The new branch will enable the bank to play a bigger role in the Cambodian financial services sector which offers exciting potential as well as to better support its international customers.

“Our second branch in Cambodia will give us better reach and enable us to tap further into the consumer market.”

“This is the line with the bank’s objective to expand our consumer franchise beyond Singapore and the Philippines, where we have a strong presence and we would soon be rolling-out automobile financing products in Vietnam through our branches in Hanoi and Ho Chi Minh City.

“The second branch also will enable us to support our customers from Malaysia, Singapore and other regional locations who have trade and investment links with Cambodia.”

“We are very positive about the Cambodian economy and are planning to open another four branches in the next two years,” said Tat.

The bank has seen strong growth in its Cambodian operations, chalking up significant growth in loans and deposits.

It started offering housing loans in January this year.

– BERNAMA NY SD

Reuters – Friday, November 16

KUALA LUMPUR,

Nov 15 – A unit of dominant fixed line operator Telekom Malaysia Bhd will invest $150 million to upgrade network capacity and add 500 base transmitter stations in Cambodia from now until 2009, state-run Bernama news agency reported on Thursday.

Telekom Malaysia International Co Ltd would make the investment, Chief Executive Yusoff Zamri was quoted as saying in the Cambodian capital, Phnom Penh.

Source: http://sg.news.yahoo.com/rtrs/20071115/tbs-telekom-7318940.html

September 3, 2007
KUALA LUMPUR, Sept 3 (Bernama) — Public Bank Bhd group has set up a subsidiary in Cambodia, CampuBank Lonpac Insurance plc (CampuBank Lonpac), to undertake general insurance business.

In a filing with Bursa Malaysia here today, Public Bank said the 55-percent-owned subsidiary commenced operations in Phnom Penh, Cambodia on Aug 30 upon obtaining its insurance licence from Cambodia’s Ministry of Economy and Finance.

The remaining 45 percent will be held by LPI Capital Bhd, it said.

Public Bank said CampuBank Lonpac would carry out general insurance business in Cambodia with the main insurance products to be offered included fire, motor, engineering, workmen’s compensation and personal accident insurance.

The company said the insurance industry in Cambodia was currently at the infancy stage of development.

“With the strong growth of the Cambodian economy, there is potential for the development of the insurance industry in the country,” it said.

– BERNAMA

Source: http://www.bernama.com/bernama/v3/news_lite.php?id=282781

KUALA LUMPUR, July 4 (Bernama) — Dreamgate Corporation Bhd plans an initial investment of US$6 million (RM20.454 million) in the Chateau De Bavet Club in Phnom Penh, Cambodia.

The club is expected to start operations in the second half of next year, Dreamgate’s group managing director Datuk Chuah Kim Seah said in a statement Wednesday.

Through its wholly-owned subsidiary Macrocept Sdn Bhd, Dreamgate has acquired a 40 percent stake in the club with the remaining 60 percent held by three Cambodian nationals.

Chuah said the main activities of the club are in gaming, accommodation, food and beverage, and entertainment.

“More importantly, we will be able to showcase the latest range of gaming machines and equipment,” he said.

The Dreamgate group is a distributor of various leading brands of gaming machines and table games equipment in Asia.

It is also a key provider of technical support management and research and development, and various activities in the gaming industry.

“We look forward to positive contributions from this new partnership which will create added values to our shareholders,” Chuah said.

Currently a Mesdaq listed company, Dreamgate has submitted an application for its proposed transfer to the Main Board of Bursa Malaysia.

– BERNAMA