Logo of Phnom Penh Post newspaper Phnom Penh Post - CGIF guarantees Ezecom-Telcotech bond worth 80 billion riel

CGIF guarantees Ezecom-Telcotech bond worth 80 billion riel

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CGIF guarantees Ezecom-Telcotech bond worth 80 billion riel

Cambodia’s leading internet service provider Ezecom on Wednesday signed an agreement with the Credit Guarantee and Investment Facility (CGIF), a credit guarantee agency established by the Asian Development Bank and ASEAN+3, which includes Japan, South Korea and China.

CGIF will provide a credit guarantee covering the full amount of the 80 billion riel ($20 million) bond to be issued by the company.

SBI Royal Securities is the financial adviser and underwriter for the sale of the bond, which is expected to be issued in the third quarter of this year.

Ezecom-Telcotech is the premier enterprise and retail internet provider in Cambodia.

Founded in 2008 by the Royal Group, Ezecom has the largest network of fibre optic cable infrastructure and holds shares in the Asia-American Gateway (AAG) and the Malaysia-Cambodia-Thailand (MCT) submarine cable systems.

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Ezecom will use the proceeds of the bond to further invest in the digital ecosystem of Cambodia.

Having played a major role in the digitalisation of Cambodia and continuing to do so moving through Industry 4.0, Ezecom’s vision is to be the leading service provider in digitalising the Kingdom through sustainable innovation and SERC community value creation.

Ezecom is therefore further building strengths into cloud, collaboration and security services, to expand its most trusted ICT infrastructure and ensure that the Ezecom enterprise and retail community is provided with the highest levels of access and service.

“Ezecom values our business eco-systems well, be it from customers and partners, to regulators. In line with the environmental, social and governance [ESG] context and as we grow, we want our customers and partners to grow alongside.

“Therefore, our business fundamentals lie in co-curating and co-creating business opportunities with these stakeholders,” said Ezecom CEO Yuni Lee Heathcote.

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Royal Group of Companies chairman Neak Okhna Kith Meng said: “Ezecom together with Telcotech are 100 percent Khmer companies dedicated to bringing the highest levels of access and connectivity to Cambodians.

“The issuance of the bond will enable us to continue to lead the way in shaping Cambodia’s digital future through investments in the latest technologies and digital strategies.

“As chairman, I am extremely proud that this is the first ever bond to be issued by a wholly Cambodian-owned company and the fact that it is guaranteed by CGIF.”

The bond received approval from the Securities and Exchange Regulator of Cambodia (SERC) on July 23 – approval number 141/21 – and the Cambodia Securities Exchange (CSX) on August 19 – approval number 074/21.

“Importantly, this is the first ever private placement bond that uses the standard system of securities depository and listing of the stock exchange. Through our bond issuance, we have built the roadmap, the model and the best practices of private placements for the Cambodian capital market.

“CGIF has high requirements and standards when issuing guarantees, so I am very proud of the company that it has met and exceeded these standards. I look forward to an increasingly digital future enabled by this bond,” Neak Okhna Kith Meng added.

The Royal Group of companies is Cambodia’s leading conglomerate with interests in telecommunications, information technology, media, banking, insurance, hospitality, tourism, transportation, logistics and property development.

Mrs Yuni Lee Heathcote
Chief Executive Officer
Telephone: +855 61 226 699

Mr Seng Chan Thoeun
Chief Executive Officer
Telephone: +855 77 333 629
SBI Royal Securities

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