Logo of Phnom Penh Post newspaper Phnom Penh Post - Local IT firm eyes off-shore expansion

Local IT firm eyes off-shore expansion

Local IT firm eyes off-shore expansion

Information technology firm First Cambodia on Friday joined forces with little-known Singaporean investment company GlobalVision, in a move that aims to expand the local company’s international footprint.

As part of the joint partnership, GlobalVision has purchased a 50 per cent stake in First Cambodia for an undisclosed amount. The local IT firm will use the partnership to attract clients from overseas markets, San Sithea, CEO of First Cambodia, said .

“We needed this partnership because we want to expand our business operations,” she said, adding that the IT firm hopes to launch an initial public offering within the next three years.

“We will start preparing ourselves to become a public company, either in Cambodia, Hong Kong or Singapore. When we are ready, we will choose one from the three of them,” she added.

Sithea said a lack of capital had delayed its expansion plans.

Pan Sorasak, acting minister of the Ministry of Commerce, said Cambodia’s ICT industry was catching up with the rest of the world.

“It speaks the volumes for the ICT industry in Cambodia that a local company such as First Cambodia can attract influential partners and investment from overseas,” he said.

MOST VIEWED

  • Hun Sen: Stop Russia sanctions

    Prime Minister Hun Sen said sanctions against Russia as a result of its military offensive in Ukraine should be stopped as they have produced no tangible results, and predicted that a global food crisis would ensue in 2023 as a consequence. Speaking to an audience at

  • Chinese tourists 2.0 – Coming anytime soon?

    Regional tourism is grappling with the absence of the prolific travellers and big spenders – the Chinese tourists. Cambodia, which has welcomed over two million Chinese tourists before Covid-19, is reeling from the economic loss despite being the first to fully open last November ‘To put

  • PM reflects on shoe throwing: Free speech or act of violence?

    Prime Minister Hun Sen on May 17 questioned whether a man who threw a shoe at him while he was in the US was exercising freedom of expression or if it was an act of hostility. Hun Sen was referring to an incident last week when

  • Siem Reap’s Angkor Botanical Garden opens

    The Angkor Botanical Garden was officially opened on May 19 with free entry for both local and international visitors for the first six weeks. The garden was established on a nearly 15ha plot of land in Siem Reap. “After the first six weeks, Angkor Botanical Garden

  • Pub Street on the cards for Battambang

    The Battambang Provincial Authority has announced that it is considering establishing a Pub Street in the area around the heritage buildings in Battambang town in a bid to attract more tourists. Battambang provincial governor Sok Lou told The Post that the establishment of a Pub

  • Hun Sen: Don’t react to hostility

    Prime Minister Hun Sen urged tolerance and thanked members of the Cambodian diaspora for not reacting to the hostility on display towards him by others while he was in the US to attend the May 12-13 ASEAN-US Special Summit in Washington, DC. In an audio