Logo of Phnom Penh Post newspaper Phnom Penh Post - Powerplus and Acleda team up to support SMEs

Powerplus and Acleda team up to support SMEs

Content image - Phnom Penh Post
Powerplus Machinery (Cambodia) specialises as a solutions provider for heavy equipment such as graders. Supplied

Powerplus and Acleda team up to support SMEs

Cambodia’s small and medium enterprises (SMEs) can now avail of easy leasing options to procure their machinery.

Heavy machinery supplier Powerplus Machinery (Cambodia) has teamed up with Acleda Bank Plc, signing a memorandum of understanding (MoU) to provide financing for SMEs to tap into the booming infrastructure sector.

Acleda is one of Cambodia’s largest banks, with 262 branches spread across the Kingdom.

“We are proud to join hands with Acleda to offer financing for Cambodian businesses to expand their capital expenditure and invest more in improving the country’s infrastructure.

“I hope the MoU between Acleda and Powerplus will make it easier for the two companies to communicate and work together to improve Cambodia’s infrastructure,” said Powerplus Machinery (Cambodia) managing director Tho Da.

With the offer of financing options, it allows Powerplus’s clients to gain access to bank loans and leverage on their capital to own more heavy equipment, such as dump trucks, excavators, wheel loaders, bulldozers, forklifts, tractors and graders.

This in turn helps to contribute to the building of the nation’s infrastructure as well as the construction sector.

“Together, we can do more to help in our nation’s development, and at the same time allow our local businessmen to own the heavy equipment they are operating,” said Da.

According to official statistics, the construction sector attracted a total investment of $8.7 billion in the first 11 months of last year, up 67 per cent on the same period in 2018.

The partnership between Powerplus and Acleda will allow small business owners more opportunities to tap into the growing sector.

Content image - Phnom Penh Post
The company aims to help local businesses own the machinery they operate. Supplied

Powerplus Machinery (Cambodia) specialises as a heavy equipment solutions provider in what is a fast-growing sector in Cambodia.

“We offer market leading Powerplus products such as dumper trucks, concrete trucks, crawler cranes, backhoes, bulldozers, graders and asphalt mixing plants. Our business revolves around machines you can count on, and so customer satisfaction is vital for Powerplus.

“We provide more than just simply selling quality construction equipment – instead, we help our customers finance their heavy equipment purchases, and we support them closely,” Da said.

As well as selling construction equipment, the company also provides a top-notch after-sales service, backed with a steady inventory of spare parts and Powerplus’s global distributor network.

Dennis Tan, a Powerplus representative, said most owners of SMEs traditionally preferred to rent their heavy equipment monthly rather than own it.

“With the implementation of monthly instalments to service the financing for their equipment, we hope to help Cambodians own

their machinery, and to use our machines as assets to generate more income for themselves. We deeply value Acleda’s strategic cooperation,” Tan said.


  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Cambodia ready to exit LDC status

    Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week to explore potential

  • Nine US franchises eye Cambodia debut

    Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia. The US embassy in Phnom Penh, in partnership with the US Foreign Commercial Service and with support from the American

  • Lost in translation: ‘Starvation’ in capital’s designated red zones

    “DACH bay” is a Khmer slang meaning a “loss of income”, that could also be literally translated to «deprived of rice”, which alludes to starvation. However, civil society organisation (CSO) officials have independently confirmed the government’s prior assertions that there are no cases of