Phnom Penh SEZ Plc. held Extraordinary General Meeting ("EGM")

The Kingdom’s leading economic zone, listed last year as the first private Cambodian company on the Cambodian Stock Exchange, received strong approval for its strategy from shareholders

Phnom Penh, 22nd December 2017 – On Friday 22nd, Phnom Penh SEZ Plc. (listed on the Cambodian Stock Exchange under PPSP) board of directors sought approval from the eligible shareholders for a new share issuance and recapped on key activities in the fiscal year 2017. 

During the EGM, Phnom Penh SEZ shareholders have approved to process the issuance of 14 million new shares, which will be sold to 1) JWD InfoLogistics Public Company Limited, a Thai-listed company who is a leading logistics provider in ASEAN and 2) Mr. Henry Ng Lian Soon, the Founder and Chairman of Bok Seng Group, a leading Singaporean regional provider of Integrated Project & Marine Logistics Management. The approval was overwhelmingly embraced by a large majority. The number of share was embraced by the present shareholders in the meeting was 55,276,101 shares of the total shares (57,875,000 shares), which is equivalent to 95.55%. The voting result on the above ​​mentioned resolution was 93.04% of the total shares.

“We started the year 2017 with the concrete road​map to sustainably fuel our future growth. We set ambitious directions and strategies by emphasizing on our competitive advantages. We have employed these strategies as a framework for our business operations, and regular monitoring will ensure that we achieve our short-term and long-term goals. In particular, the company is set to increase non-land sales revenue portion to 50% by the year 2020. Supported by a strong financing strategy, we aim to expand our businesses vertically and horizontally.” said Lok Chumteav Okhna Lim Chhiv Ho, Chairman of Phnom Penh SEZ Plc. in her introduction speech. “We invited our fellow shareholders to this Extraordinary General Meeting to consider a special subject, which will lead our way to become an “Integrated SEZ Developer”, and to report on our business activities and the expected year-end performance of 2017.”

“Apart from the additional contributed capital, of our new shareholders, their contributions and input on strategic developments will become invaluable assets for Phnom Penh SEZ Plc.” says Dr. Ardisak Boeprasert, Investor Relations Manager/Disclosure Officer of Phnom Penh SEZ Plc. In addition, he highlighted that the use of net proceeds of the new share sales would be used primarily for infrastructure development, rental-warehouse projects, and other business developments which will be beneficial to all shareholders of the company.


TOA Paint (Thailand) becomes latest industrial group from Thailand to produce at Cambodia’s leading SEZ

Phnom Penh, 16.12.2017 - Phnom Penh SEZ Plc. signed a long-term land lease agreement with TOA Paint (Thailand) Public Company Limited on December 8th for a total land size of over 25.000 m2. The renown Thai firm is manufacturing and distributing paints and coatings used throughout Southeast Asia. Some of the leading products include decorative paints and coatings under the brand names SUPERSHIELD, 4 SEASONS, SUPERTECH, MANDARIN DUCK and HOMECOTE. In addition, TOA produces various types of specialized and texture paints.

TOA Paint (Thailand) Public Company Limited announced that its board of directors approved the establishment of a new subsidiary, TOA Coating (Cambodia) Co., Ltd., on 4th December 2017.

TOA Coating (Cambodia) will hold 100% of the registered capital of USD 7.63 million dollars and invest into a state-of-the-art factory at Phnom Penh SEZ. The production capacity will be at approximately 3.4 million gallons per year, a solid output target that will be reached with well-trained and qualified workers once operations launch in the fourth quarter of 2018. 

In addition to its group funding, the subsidiary will be run with proceeds from an Initial Public Offering (IPO). The Company aims to expand its business in Cambodia via high quality products that are to be sold onto the fast-growing Cambodian construction and housing market.

“Phnom Penh SEZ fully supports TOA Paint (Thailand) in the preparations for the launch of its operations in Cambodia, and will ensure, as with all its tenants, that the company can conduct its manufacturing and distribution business successfully from within the SEZ. We wish the company success and prosperity for their Cambodian project, which will help create many qualified job opportunities for Cambodians and promote the development of the country,” says Hiroshi Uematsu, CEO of Phnom Penh SEZ.

9th Project of Corporate Social Responsibility

Cambodia’s leading industrial estate financed, built and equipped a library in a local Junior High School.
Phnom Penh, 16th December 2017 
- On Saturday the 16th of December 2017, a Phnom Penh SEZ team including top management gathered for the inauguration ceremony of a new library at Ovlaok Junior High School, in Tropiang po village, Ovloak Commune, Posenchey District, Phnom Penh.

The inauguration ceremony was attended by Mr. Hem Darith, Posenchey district governor and Mr. Hiroshi Uematsu, CEO of Phnom Penh SEZ PLC.

In front of a crowd of about 150 students, teachers and community adults, Mr. Hiroshi Uematsu, CEO of Phnom Penh SEZ Plc. mentioned about the importance of reading, and left the students with a “Read then Talk” challenge. That is to read any books they like and gather to talk about the books once a week. He wanted everyone to have a reading habit.

The library, which was completed on the 28th of November 2017, will now open its doors to offer a place of recreation, reading and research for about 100 students, 15 teachers in the Junior High School, as well as the general public. The company wants it to be not only a library of Ovloak Junior High School, but also the library of Ovloak commune as a whole.

This library project cost about USD 12,000 including expenses on building construction, furniture, and books. This year we involved our staffs working in the company in this charity by receiving their donations of books as well. Among the 674 books, 231 books were received as donation.

Since we first started this CSR project in 2009, Phnom Penh SEZ Plc. has been helping to meet some of the needs our local communities are having. We highly hope this small contribution would help make a difference in the life of our communities.

Phnom Penh SEZ Displays Slogan Banners of Anti-Corruption for Celebrating National Anti-Corruption Day

In order to set an example for private sector in joining the combat against corruption, Phnom Penh SEZ Plc. decided to sign MOU with Anti-Corruption Unit (ACU) on 23 February 2015. Cambodia set 9 December as a “National Anti-Corruption Day”. This year the same as previous year, ACU will celebrate National Anti-Corruption Day 9 December 2017 by cooperation with ministries, public organization, and private sector. In joining this celebration, Phnom Penh SEZ Plc. also displays a number of banners showing the slogans of anti-corruption in PPSEZ. We are fully committed in joining with ACU for fighting against corruption in this country.

Phnom Penh SEZ welcomes business leaders from Thailand

3-day event held this week within the Kingdom’s leading economic zone: “Thai - Cambodian power: the trade opportunity within reach”

Phnom Penh, 22nd November 2017 – Phnom Penh SEZ Plc. is honored to welcome a group of Thai business leaders led by The Bangkok Post Group and Asset Pro Management Co., Ltd (APM) who are exploring business opportunities in Cambodia.

Lok Chumteav Oknha Lim Chhiv Ho, Phnom Penh SEZ Plc’s Chairwoman, will deliver a welcome speech and the senior management will give corporate presentations and organize a tour of the Economic Zone’s facilities.  

The Bangkok Post Group is the publisher and distributors of the Bangkok Post - a leading daily English-language newspaper in Thailand - and various newspapers targeting business oriented readers and students.

APM is a Thai Independent Licensed Financial Advisor. It is specialized in financial consulting services for companies and/or individuals, seeking for optimal alternative financial solutions for their businesses. APM plans on expanding their services throughout all CLMV countries.

Bangkok Post Group, along with APM, is holding the three-day event aiming to provide an overview of the business landscape in Cambodia and the CLMVT. The event will be held on November 22-24 in Phnom Penh, Cambodia.

The schedule includes a seminar focusing on trade policies of Cambodia and Thailand, Business matching, as well as field trips in Phnom Penh. Lok Chumteav Oknha Lim Chhiv Ho will highlight the main assets of the economic zone by giving a presentation about “Phnom Penh SEZ: A golden location in ASEAN” during the seminar.

“This event is a great opportunity for us to promote Cambodia and Phnom Penh SEZ to potential investors. We hope this will foster foreign direct investments and further boost the economy of the Kingdom,” says Mr. Fong Nee Wei, Phnom Penh SEZ Plc’s CFO.

Phnom Penh Special Economic Zone
National Road No.4, Khan Posenchey,
Phnom Penh, Cambodia.

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