By Sok Lak
Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen welcome and support Malaysia Company, Kuala Lumpur-based Hong Leong Group, for their investment planning in Cambodia.
Eang Sophallet, Assistant to Prime Minister Hun Sen, said after meeting between Prime Minister and Mr. Quek Leng Chan, Director of Malaysia’s Hong Leong Group on June 20 in Phnom Penh, that Malaysia’s Hong Leong Group is seeking investment opportunity on the fields of bank, insurance, real estate and industrial in Cambodia.
“The aim of visiting Cambodia is to study Cambodian investment environment and looking for investing here,” Mr. Quek Leng Chan stated in the meeting.
He added that his company based in Kuala Lumpur which mainly focus on industrial included building material production. His company also focuses on finical sector such as bank, insurance, stock market and real estate.
He also called on support from Prime Minister for the present of his company in Cambodia. He stressed that he will send expert team to Phnom Penh in order to study for detail investment plan like field of bank, insurance and real estate.
In reply, Samdech Techo Hun Sen welcomed and supported Hong Leong Group to invest in many sectors in Cambodia and commended on this company to provide detail information of its project and encourage this company discuss on bank sector with H.E Chea Chanto, Governor of National Bank of Cambodia, discuss on factory and industrial with H.E Suy Sem, Minister of Industry, Mines and Energy and work closely with relevant institutions.
Samdech Techo Hun Sen told Quek Leng Chan that he want this company to invest on bank sector in Cambodia due this company has high capital for loading and Cambodia is still lack of finance in country.
Last month, Malaysia Company Lion Group also came to Cambodia to seek for investment in Cambodia. Tan Sri William Cheng Heng Jem on May 25 to meet H.E. Chan Sarun, Minister of Agriculture, Forestry and Fisheries. At that time, H.E Chan Sarun briefed rubber plantation sector in Cambodia. Over 400,000 ha has been given license as economic land concession with 43,000 ha existing rubber plantation invested by local companies, China, South Korea, Vietnam, American, and Malaysia. “Cambodia’s rubber plantation is expected to reach 300,000 ha in 2020 while the rubber products are also expected to increase to 100,000 tons for export by 2015,” H.E. Chan Sarun mentions.
As the view, the Hong Leong Group and the Lion Group are one of the biggest Malaysia companies in which Hong Leong Group is a leading conglomerate based in Malaysia with diversified and presence in North and South Asia, Western Europe, United Kingdom, North America and Oceania, and the Lion Group Malaysia is global company which has operation in Malaysia, Singapore, Indonesia, China, USA, Mexico and Hong Kong and have an annual group turnover of approximately US$4.9 billion.
According to data from Council Development of Cambodia from Jan 2000 to April 2011, Malaysia register capital is up to US$92.979 million with US$570.403 fixed assets which make Malaysia become the third largest investor after China and Korea in Cambodia.
Source: The Southeast Asia Weekly, June 26-Jule 2, 2011, Vol. 5, Issue 26, Page 3
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