Following real estate tycoon Sok Bun’s resignation last month, Teho International, developers of the $500 million The Bay condominium and hotel project, have appointed Yim Chhay Line as a director to the board of the joint venture in Cambodia.
Announced in a listing on the Singapore Stock Exchange, Yim Chhay Line, who is the daughter of Deputy Prime Minister Yim Chhay Ly, will take over the vacant director position at Teho-SBG Development, following the resignation of Sok Bun, who was caught on camera savagely beating former television presenter Ek Socheata, better known to her fans as Ms Sasa.
“The appointment of Mrs Yim – a recognisable and well-respected figure in Cambodia for her commitment to business and social endeavours – will be a tremendous asset for Teho International and to The Bay project,” said Lim See Hoe, executive chairman and CEO of Teho International.
The announcement called Yim “a leader in business and social endeavours”, as well as being “passionate about improving the lives of her fellow citizens.”
Sok Bun Group, owned by the disgraced tycoon Sok Bun will continue to be the majority stakeholder in the joint venture, with Teho International owning a 49 per cent stake in the company.
Announced in February, the hotel and residential project will be developed on the Chroy Changvar peninsula near the Sokha hotel.
Construction is expected to begin late this year and expected to be completed by late 2019.
The first phase of the project includes the building of the Okura Prestige Phnom Penh, a 45-storey luxury hotel expected to cost $50 million, and a 53-floor apartment building, touted to be the tallest building in the capital.
Once security footage of the incident circulated online, Sok Bun fled to Singapore only to be arrested on his arrival at the Phnom Penh International Airport on July 18.
Despite pleading to Prime Minister Hun Sen for leniency and offering $100,000 in compensation to the victim’s family, Bun was arrested on return to Cambodia and is awaiting trial on charges relating to the assult.