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Securities regulator issues new licences

Securities regulator issues new licences

The Securities and Exchange Commission of Cambodia (SECC) has issued fund management licences to Aegies Fund Management Plc and PLMP Venture Capital Co Ltd, it said in a press release on Tuesday.

SECC deputy director-general Sok Dara told The Post on Thursday that the licence grants them the right to raise funds from the public to invest in the Kingdom, noting that their projects must be registered with the SECC.

“It is a good sign that Cambodia is attracting more the investors. This reflects strong growth in the fund management sector,” Dara said.

He said the SECC is currently reviewing a number of projects proposed by the fund management firms.

“They proposed some joint venture projects to the SECC, on which we are giving legal advice as our officials review things,” he said.

There has been a huge increase in market participants, he said, such as the five central counterparties in the derivatives market, the 27 derivative brokers and the seven fund management companies licensed this year.

Meanwhile, the SECC also approved three more trustee companies, Grand Cathay Investment Trust (Cambodia) Plc, Zillion Trust Plc and Vivid Asset Management Co Ltd.

Last year, SECC director-general Sou Socheat defined a fund management company as a business which enters into so-called “joint ventures” with public participation to fund projects and share their benefits.

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