Reuters Ltd, the London-based news agency giant has appointed invnvestment consultancy
firm IMIC as its agent in Cambodia for Reuters Business Services. The announcement
follows Reuter's decision to separate its business service activities from its work
in news and television.
"Initially we shall be introducing small dish- based services carrying programs
such as Money 2000, and News 2000," said Jules Thomas, IMIC's general manager.
He said IMIC would also be offering the Reuter Wire service to interested parties.
IMIC Ltd, which stands for International Management and Investment Consultants Ltd,
is the Cambodian trading subsidiary of the majority British-owned, Hong Kong registered,
holding company OMIC LTD. OMIC/IMIC has been operating in Phnom Penh since early
As Cambodia's banking sector develops, and the competition for corporate clients
and new business increases the emphasis will be placed on banks to offer the best
possible services to potential clients. Thomas said he was confident of the future
of IMIC Reuters in Cambodia.
"It is not a question of whether a bank can afford to have the system, but whether
they cannot afford to be without it," he said.
IMIC will provide clients with complete installation, training, and support services
from their offices at 2 Boulevard Tousamouth, where full demonstration facilities
are currently being installed and where locally-employed IMIC staff will be able
to provide a local help line service.
Reuter's move into Cambodia comes at a time when many investors are said to be holding
"We are not interested in short term projects but in long term investment, and
our move into Cambodia at this time is a statement of our confidence in the country,"
said regional manager Graham Spencer, who is also spearheading Reuter's move into
Laos and Vietnam.