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

  • With herd immunity likely in 2022, is Cambodia ready to reopen for tourism?

    The government aims to inoculate 80 per cent of the target population by June next year, giving it a head start among regional peers to reboot the sector but first, it has to do a few things to up its game A sign on a glass

  • US wants 'full access' to Ream Naval Base

    On June 11, the US embassy's Defense Attaché Colonel Marcus M Ferrara visited Ream Nava Base in coordination with Cambodian officials following the recent approval of Prime minister Hun Sen to allay the concerns on Chinese military presence at the base as raised by US Deputy

  • US embassy guard gets Covid despite two doses of Pfizer jab

    The Covid-19 tracking commission on June 4 said a security guard at the US embassy in Phnom Penh had contracted the novel coronavirus, despite having received a second dose of the Pfizer-BioNTech shot two weeks ago. Embassy spokesperson Chad Roedemeier confirmed the SARS-CoV-2 infection to The

  • Jab drive heading to 5 provinces

    The government is set to vaccinate more than 1.2 million people in five provinces after finishing with Phnom Penh and neighbouring Kandal in an ongoing campaign administered by the ministries of Health and National Defence. The five provinces are Preah Sihanouk, Kampong Speu, Takeo, Kampong Cham

  • Kingdom set to be a gold producer

    Cambodia will soon join the roster of gold producing countries after the government announced the commencement of commercial gold mining operations in the Okvau area in southwestern Mondulkiri province's Keo Seima district from June 21. Prime Minister Hun Sen on June 10 announced that after 14 years of

  • New immigration bill targets illegal foreigners in Kingdom

    General Department of Immigration (GDI) officials are discussing revisions to the new draft law on immigration to prevent foreigners from entering Cambodia illegally and to supervise those living in the Kingdom more effectively. The revisions draw wide support among civil society organisations. GDI director-general Kirth