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Water revenue surges

Water revenue surges

UNAUDITED revenues at the Phnom Penh Water Supply Authority (PPWSA) rose by around 6 percent in the first quarter 2010 compared to the same period of last year, officials have said.

PPWSA’s revenue reached about US$6.5 million in the first quarter this year, up from about $6.1 million in the same period 2009.

“The growth is because of our network expansion to the outskirts of Phnom Penh and the increase in new customers,” said accounting and financial department chief Ros Kimleang on Tuesday.

“We believe that our revenue will continue to increase because of the recovery from the global economic crisis.

“The crisis had hit our industrial customers, who are a big source of revenue, hard,” he said.

According to figures released by the Ministry of Commerce, the number of new business registrations surged 49 percent in the first quarter of 2010 to 663 new companies and enterprises, from 445 in the first quarter of 2009.

In the last three months, PPWSA has gathered 3,000 new customers.

Ros Kimleang said that the authority can now supply about 300,000 cubic meters of water per day, servicing 90 percent of greater Phnom Penh and some districts in Kandal province.

PPWSA is one of three public companies scheduled for floatation on the Cambodian Stock Exchange, which is set to open later this year.

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