Malaysian conglomerate The Lion Group plans to make big investments in Cambodia, the company’s chairman said yesterday, though specific figures were not revealed.
During a meeting in the capital’s Phnom Penh Peace Palace with Prime Minister Hun Sen, Chairman Tan Sri William Cheng Heng Jem said his company was considering plans to invest in shopping malls, rubber and palm-oil plantations, iron ore exploration and steel and sewage treatment plants in the Kingdom, according to Eang Sophalleth, assistant to the Prime Minister.
“Hun Sen expressed his support for the company’s desire to invest in Cambodia,” Eang Sophalleth said yesterday, adding Hun Sen suggested The Lion Group would work with the relevant ministries to push forward with its plans.
The company would not disclose the exact amount of the total investments, Eang Sophalleth. The Prime Minister also called on The Lion Group to consider building a tyre plant in the Kingdom, Eang Sophalleth said, adding the group has been researching the potential for a sewage plant in Phnom Penh.
The Lion Group has operations across Southeast Asia, as well as China, the United States and Mexico. The company’s businesses vary from steel production to plantations to retail and property development.
The Group has five companies listed on Bursa Malaysia with another two each in Indonesia and Singapore; and another in Hong Kong.