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ABA needs no security

ADVANCED Bank of Asia (ABA Bank) has completed its first loan deal without requiring security, according to a press release issued Friday. ABA said it had offered lending to Choice Taxi Company, a new South Korean metered taxi service in Phnom Penh, which allowed the firm to purchase new Kia cars based on its business plan. Choice General Director Choi Dae Yong said he planned to start with 20 vehicles financed by the loan, according to the ABA release, which the firm would later expand to 30 cars.

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