Logo of Phnom Penh Post newspaper Phnom Penh Post - Phnom Penh SEZ gets $10M in investment

Phnom Penh SEZ gets $10M in investment

Content image - Phnom Penh Post
The Phnom Penh Special Economic Zone close to the capital’s airport. post staff

Phnom Penh SEZ gets $10M in investment

Two regional companies have invested nearly $10 million to acquire 14 million shares in the Phnom Penh Special Economic Zone Plc (PPSEZ) – one of five companies listed on the Cambodia Securities Exchange (CSX) – in what is considered the first ever private offering by a listed firm in the Kingdom.

JWD Infologistics Plc, a logistics company from Thailand, and Bok Seng Group, a Singaporean company that provides a comprehensive range of logistics services, unveiled their placements at a press conference on Friday.

JWD acquired more than 7.5 million of the 14 million shares, while Bok Sheng Group took up the remaining at 70.37 cents per share, bringing PPSEZ a combined $9.85 million in placement. The acquisition pushes the total listed shares of PPSEZ to nearly 72 million.

Bok Seng Group founder and chairman Henry Ng Lian Soon who also has commercial operations in Malaysia, Indonesia, Brunei, Thailand, Myanmar, Vietnam and Laos, said he is keen to capitalise on the Chinese government’s Belt and Road initiative by linking his Cambodian investment with other countries where his company has a presence.

“I think through this Belt and Road initiative , we can trade across the borders. Because we are in logistics, we need the network. We need a local [company] to support [companies in other countries]”, said Ng.
JWD, which initially bought a 5.2 per cent stake in PPSEZ in 2016, aims to become a leading regional logistic service provider whose operations network covers both emerging and mature markets.

JWD representative Nattapume Pavaratn said the firm sees great potential in PPSEZ and that its additional placement will provide the economic zone with strategic assistance and expertise.

“We can bring at least know-how to PPSEZ in the future,” he said.

PPSEZ became the fourth listed company on CSX in May 2016. The firm has said it will use the proceeds to support business expansion, new business development opportunities and for general corporate purposes.

MOST VIEWED

  • ‘Potential shield’ for virus hangs in balance

    The World Health Organisation (WHO) suspended trials of the drug that US president Donald Trump has promoted as a coronavirus defence, fuelling concerns about his handling of the pandemic that has killed nearly 100,000 US citizens. Trump has led the push for hydroxychloroquine as a potential

  • Gov’t rolls out stimulus to keep businesses afloat

    The government has introduced the fourth round of stimulus measures aimed at ensuring economic and social stability during the outbreak of the Covid-19 disease. The move, which was announced on Tuesday, is designed to help businesses, factories and enterprises to stay afloat while reducing the

  • E-cigarette back in spotlight amid virus pandemic

    The Ministry of Health’s Department of Communicable Disease (DCD) department has released a video about the effects of smoking, while the NGO Cambodia Movement for Health (CMH) warned against the use of electronic cigarettes or vape. The short video clip that was posted on

  • Por Sen Chey woman murdered

    Por Sen Chey district police are searching for a suspect who robbed and killed a woman in a rented room in Samraong Kraom commune in Phnom Penh at 6:30pm on Monday. Deputy district police chief Chea Sovann told The Post on Tuesday that the victim,

  • Police chief: remove all roadblocks

    National Police chief Neth Savoeun warned Phnom Penh and provincial police chiefs to remove all roadblocks, saying that traffic police officials in some provinces had tightened traffic law implementation against guidelines. In a leaked voice message which was shared on social media on Tuesday, Savoeun

  • Capital calls for Covid-19 caution

    The Phnom Penh Municipal Hall announced on Monday that authorities in the city’s 14 districts must encourage people to continue various safety measures to prevent a second wave of Covid-19. It called on administrations, departments and units to educate residents on daily living habits like