Logo of Phnom Penh Post newspaper Phnom Penh Post - Ly Ly, Japanese company in rice cracker venture

Ly Ly, Japanese company in rice cracker venture

Keo Mom, the chief executive officer of LyLy Food Industry, stands in front of the company’s office in 2015 in the capital’s Por Sen Chey district.
Keo Mom, the chief executive officer of LyLy Food Industry, stands in front of the company’s office in 2015 in the capital’s Por Sen Chey district. Hong Menea

Ly Ly, Japanese company in rice cracker venture

Cambodian rice cracker manufacturer Ly Ly Food Industry has partnered with Japan-based Kameda Seika to establish a $16.1 million joint rice cracker venture in the Kingdom.

Ly Ly will provide $1.5 million and the company’s CEO, Keo Mom, will provide $6.4 million for the venture to give them both a 49 percent stake in the new company, while Kameda Seika will earn a 51 percent share, according to Eang Mong, the managing director of Ly Ly.

Mong said the companies had already signed a memorandum of understanding and planned to establish the new company, Ly Ly Kameda, in May, with plans to produce its first crackers by early next year. Ly Ly has already submitted documents to the Council for the Development of Cambodia and the Commerce Ministry, Mong said.

“Even though we already export our products to 10 countries, it is still limited,” he said. “We want to expand our production and increase exports further, and it will bring a better reputation to Khmer food.”

Mom could not be reached for comment yesterday.

Ly Ly currently exports between four and six 40-foot containers each month, generating between $60,000 and $90,000 in revenue, Mong said on Thursday. The joint venture is set to expand that capacity to 30 40-foot containers per month.

Long Kemvichet, spokesman for the Commerce Ministry, welcomed the joint venture on Thursday.

“The company will add value to our products and use more raw materials from our industry,” he said.

“This is the government policy to encourage local enterprises to produce finished products, rather than export raw material.”

MOST VIEWED

  • Serious flooding across country

    The Kampong Speu provincial Committee for Disaster Management on Wednesday issued an alert after non-stop heavy rain caused widespread flooding. In Koh Kong province, authorities are working with the disaster committee and the Cambodian Red Cross to assist those affected after more than 350 homes were

  • CNRP points to King in call for vote boycott

    Leaders of the former Cambodia National Rescue Party (CNRP) have taken a new tack in their call for a boycott of the national elections later this month. They are now claiming that the people should follow the King, who is expected to abide by tradition

  • Malaysian MP calls on his government to take stand on Cambodian elections

    A Malaysian parliamentarian raised concerns in his country on Wednesday about Cambodia’s July 29 national elections and urged his government to clarify its position on the subject, the Asean Parliamentarians for Human Rights (APHR) said on Thursday. Wong Chen, a member of the People’s

  • Troop moves ‘won’t worry people’

    Senior officials at the Ministry of Defence and National Police said on Tuesday that riot training provided to the country’s police forces were aimed at preventing unexpected demonstrations and strikes before and after the July 29 national elections. The troop mobilisation, they said, would not