Keeping our community clean is everyone’s responsibility!
On April 28th, 2017 Phnom Penh SEZ in collaboration with local authorities and villagers of Phum Trapoengchuk, Sangkat Kantok, Khan Porsenchey, Sumi (Cambodia) Wiring Systems Co., Ltd, Minebea (Cambodia) Co., Ltd, Sahas PPSEZ Co.,Ltd and B70 security cleaned up all rubbish thrown along the road outside Phnom Penh SEZ’s fence. There were 78 people who joined this activity to ensure cleanliness and tidiness along the road.
Keeping our community clean is everyone’s responsibility!
The Kingdom’s leading economic zone, listed last year as the first private Cambodian company on the Cambodian Stock Exchange, received strong support from its shareholders
Phnom Penh, 24th April 2017 – On Friday 21st, Phnom Penh SEZ Plc. board of directors presented the fiscal year 2017 and briefed on the status of ongoing development plans.
“The year 2016 was the beginning of an important milestone for Phnom Penh SEZ PLC due to becoming the first private Cambodian company to be listed on the Cambodia Securities Exchange on date May 30, 2016. It has been the long continuing success story since our commencement in 2007. We have never changed our ambition to be the leading Special Economic Zone Developer (“SEZ”) in the Kingdom, principally involving in the business of operating and managing of SEZ with the main purpose of developing industrial land for sale or lease,” said Lok Chumteav Okhna Lim Chhiv Ho, Chairwoman of Phnom Penh SEZ Plc. in her introduction speech.
Due to a sluggish global economic climate last year, sales revenue dropped significantly from fiscal year 2015. “Obviously, we had a reduction of sales revenue in 2016 compared to 2015. Our net profit for 2016 is about US$ 1.45 million,” says Mr. Fong Nee Wai, Chief Financial Officer of Phnom Penh SEZ Plc. “However, we have increased our percentage gross profit margin. Our total assets increased substantially from using IPO proceeds to purchase more land and invest in land development and infrastructure”. Additionally, Nee Wai highlighted the improvement of debt-to-equity ratio to 0.55X compared to 0.78X in 2015.
During the AGM, Phnom Penh SEZ shareholders have approved the minutes of Extraordinary General Meeting from last year, as well as the 2016 financial statement (ended 31 December 2016) and the revised articles of incorporation. All resolutions were overwhelmingly embraced by a large majority. In the meantime, the initial board of directors have been reelected and appointed for two more years.
The AGM was also a great occasion for Phnom Penh SEZ board of directors to present the company’s future development plans to the shareholders. The industrial estate is currently diversifying its offerings to investors into the Cambodian economy by expanding its business model: “The key challenge we’ve faced last year was the difficulty to get some deals with important land investors.” says Hiroshi Uematsu, Chief Executive Officer of Phnom Penh SEZ Plc. “In order to further growth of our business, we need to highlight on two strategic moves. First is the expansion of Phnom Penh SEZ and Poipet PP SEZ. The second is to diversify our business activities to receive new revenue streams beyond land sales, including electricity, water supply, rental factory/warehouse, construction and services. By benchmarking the revenue breakdown with top-tier industrial estate developer in Thailand, their revenue from land sales are below 50%. We ambitiously endeavor to increase non-land sales recurring income”
Phnom Penh, 10th April 2017 – On Saturday the 8th of April, Phnom Penh SEZ, the leading special economic zone in the Kingdom, hosted its renowned Khmer New Year workers’ Talent Contest and concert. More than 20,000 workers attended the event and celebrated with popular performers and entertainers.
This year, the event was held under the name Sangkranta Posenchey PPSEZ Idol 2017. The celebration was conducted under the presidency of H.E. Morm Vannak, Secretary of State of Ministry of Labour and Vocational Training; H.E Chea Vuthy, Deputy Secretary General of Cambodian Investment Board and Cambodian Special Economic Zone Board of the Council for the Development of Cambodia (CDC),) H.E Sivann Botum, Secretary of State of Ministry of Women Affairs and Lok Chumteav Oknha Lim Chhiv Ho, Chairwoman of Phnom Penh SEZ Plc.
“Our employees are all highly supportive and committed, and have achieved great results for their various employers in our zone. We wanted to celebrate this success together. Tonight they are the best examples that hard work and commitment yields fruit – both for their personal lives and for our industrial estate as a whole,” says Lok Chumteav Oknha Lim Chhiv Ho, Chairwoman of Phnom Penh SEZ Plc. “We have some international groups operating in the zone such as Coca-Cola, Ajinomoto, Yamaha, Denso, Minebea, and Sumi Wiring Systems who are bringing manufacturing in Cambodia to the next level by offering expertise and training to those who are keen to achieve more. We want them to feel that they are part of a growing and modern work environment that is fully committed to the future.”
The event was a major success, offering the attendees a great show with local stars Meas Soksophea, Kem, Yem Samoun’s Ban and the Perki Comedy Team. The election of the "Stars of PPSEZ" involving all factories was the most awaited moment of the night. Hundreds of participants competed hard to win the contest. In a tough pre-selection process, the participants recited, danced, sang and modeled in order to make it through to the final stage where the best three teams were awarded. Many of the companies at Phnom Penh SEZ have offered their generous support and given their employees the opportunity, and time, to prepare for the competition as well as to support the event.
“We want to strengthen the bond between Phnom Penh SEZ, the management, the factories and their employees by perpetuating this kind of community event that unites and creates awareness for the many advantages the people working here enjoy,” says Michelle Zhao, Senior Manager of Phnom Penh SEZ Plc. “We want to thank our zone workers for their commitment and dedication to Phnom Penh SEZ, which has become one of the most attractive and modern work destinations in Cambodia today. The workers have shown great unity and support in the past few years. We want to further develop our community to continue providing employment for workers throughout the country,”
Mr. Hiroshi Uematsu, our CEO, participated in TV program, namely “Cambodia Global Dialogue”. This program, hosted by H.E. Dr. Sok Siphana – Advisor to the Royal Government of Cambodia, was on air on date March 30, 2017. The agenda of this episode is to highlight how quality energy, meaning electricity, is important to industrial development of Cambodia. Our CEO highlighted on company initiatives to improve quality and cost competitiveness of electricity will help to attract high tech industries like Electronics and Auto Parts to invest in Cambodia, apart from improving labor skills. In addition, he highlighted on our recent partnership with B.Grimm Power Plc., a Thai leading electricity producer to achieve the aforesaid initiatives.