Logo of Phnom Penh Post newspaper Phnom Penh Post - Leopard Capital tops up investments, targets Laos

Leopard Capital tops up investments, targets Laos

Leopard Capital tops up investments, targets Laos

LEOPARD Capital has topped up its investments in three Cambodian projects as well as secured shares in a company set to list in Laos, the fund’s Chief Executive Officer Douglas Clayton said yesterday.

The US$34 million fund has increased investment in Kingdom Breweries, Nautisco Seafood Manufacturing, and ASA Plc – a holding company with 19 percent ownership of ACLEDA Bank, according to a release.

“We see them all as good investments,” said CEO Douglas Clayton. The three investments had originally been smaller than the average size for Leopard’s portfolio, he said, and the fund taken the opportunity to increase its stakes.

Kingdom Breweries Chief Executive Officer Peter Brongers said the new capital was marked to cover additional costs.

The firm had originally intended to launch in May or June, but its boutique beer began sales in October, a move which had incurred additional costs.

The brewer had added new fermentation tanks and an improved filtration system, which had cost several hundred thousand dollars a piece, he said.

“It’s always better to a have a [financial] cushion,” he said yesterday.

ACLEDA Securities President and Managing Director Svay Hay said Leopard had increased its stake in ASA by 2.58 percent, and now controls 10.30 percent of the holding company.

“Leopard is a leading private equity fund with various experiences, and [brings] value added,” he wrote yesterday.

ASA was a form of an Employee Stock Ownership Plan that also allowed a certain degree of outside investment, he said. It was established in 2000, and launched an internal stock market in 2006. Another unnamed South Korean fund had also invested in ASA, he said.

Sihanoukville-based Nautisco Seafood Manufacturing representatives declined to comment yesterday, but Leopard said in the release that its investment would provide secured debt and purchase additional common shares, increasing its stake in the project from 31 percent to 38 percent.

Clayton declined to reveal the dollar amounts of the three investments.

Meanwhile, Leopard also announced it had purchased 5,000,000 shares, or 2.32 percent, of the initial public offering of state-owned Electricite du Laos Generation Company - one of the first two companies to list on the Laos Stock Exchange today. EDL had made 25 percent of its shares available for the IPO.

“It’s a good opportunity to participate in the hydropower sector in Laos, and we’re pleased that the Laos exchange has launched,” said Clayton.

He added that Leopard was keeping the door open for investment in firms listing on the Cambodian bourse, which is set to launch by July.

“If there’s a good bottom-up opportunity, we’re certainly open to exploring [the opportunity],” he said.

MOST VIEWED

  • NagaWorld casinos set to reopen, schools to follow

    NAGACORP Ltd has requested that it be allowed to reopen its NagaWorld integrated resorts in Phnom Penh after the government recently approved casinos to operate again, provided they follow Covid-19 prevention measures set by the Ministry of Health. Mey Vann, the director-general of the Ministry

  • ASEM supports Kingdom’s proposal to postpone meeting amid Covid

    The 13th Asia-Europe Meeting (ASEM13) scheduled to be held in Cambodia in November has been postponed until mid-2021 due to the Covid-19 pandemic, a Ministry of Foreign Affairs and International Cooperation press statement released on Saturday said. The decision was made during a two-day meeting

  • Coffee maker roasted for producing fake product

    The Ministry of Interior’s Counter Counterfeit Committee will send a suspect to court on Monday after she allegedly roasted coffee mixed with soybeans and other ingredients, creating a product which could pose a high risk to consumers’ health. On the afternoon of July 2, the

  • Cash handout programme 80% complete

    Minister of Social Affairs, Veterans and Youth Rehabilitation Vong Soth confirmed on Thursday that the implementation of the Cash Transfer Programme For Poor and Vulnerable Households During Covid-19 had been implemented for more than 80% of the over 560,000 families. The programme was introduced one week ago.

  • Cambodia armed with money laundering laws

    Money laundering will now carry a penalty of up to five years in prison while those convicted of financing terrorists will be jailed for up to 20 years, according to new laws promulgated by King Norodom Sihamoni and seen by The Post on Thursday. Comprising nine

  • Where is Cambodia’s exit strategy that can save the economy?

    With the prospect of being slammed by a double whammy, the government is working on an economic recovery plan to deliver it from Covid-19 and the EU’s partial withdrawal of the Everything But Arms scheme in the next two to three years Cambodia is

  • Schools to be reopened in ‘three stages’

    With guidance from Prime Minister Hun Sen, the Ministry of Education, Youth and Sport, is in the process of reopening schools in three stages. But no timeline has been set, ministry spokesperson Ros Soveacha said on Thursday. Soveacha said the first stage will be to

  • Thai border crossings eased

    The Cambodian Embassy in Thailand said in an announcement on Wednesday that Thailand’s government has allowed certain passengers from several countries to enter its borders. The visitors must go back to their country immediately after their duties in Thailand are fulfilled, the embassy said.

  • Gov’t says tourism recovers slightly despite pandemic

    The Ministry of Tourism and the Phnom Penh municipal administration have recognised 33 tourism businesses in the capital which have consistently implemented safety measures for tourists and adhered to the code of conduct issued by the ministry. Recently, the ministry announced that tourism businesses had to

  • Mull ASEAN border opening, PM urges

    Prime Minister Hun Sen has requested that ASEAN launch a scenario for gradually reopening cross-border travel and trade between countries in the region. He said ASEAN has had more success combating Covid-19 compared to other regions. The prime minister’s request was made at the