Phnom Penh SEZ PLC. holds Extraordinary General Meeting ("EGM")

Phnom Penh, 7th September 2016 – On Tuesday 6th, Phnom Penh SEZ Plc. board of directors presented the 2015 audited results, the 2016 2nd Quarter Report and briefed on the status of ongoing development plans.

“Last year saw a global economic climate change. China’s growth has gradually slowed down due to structural reform towards domestic based consumption and the effect of this decline has been visible in various regions of the world, especially in South East Asia and also in Cambodia. Some industrial estates across the region have been affected by this slowdown but our company is solid and has shown a strong capacity to deal with such issues,” said Lok Chumteav Okhna Lim Chhiv Ho, Chairwomen of Phnom Penh SEZ Plc. in her introduction speech.

Despite a sluggish global economic climate at the close of last year, the industrial estate is in a strong financial situation. “Our net profit for 2015 is about US$ 4.1 million, which is a good result after tax contributions. We think that our investors can be satisfied,” says Mr. Fong Nee Wai, Chief Financial Officer of Phnom Penh SEZ Plc. “We are still young as a publicly listed company but our 10-year-old foundations are strong.”

During the EGM, Phnom Penh SEZ shareholders have adopted the 2015 financial statements (ending 31st December 2015), together with the directors’ and auditors’ report. In the meantime, Mr. Tanate Piriyothinkul has been appointed as Non-Executive Director. Both resolutions were embraced by a large majority (95.28% for – 0.33% against)

The EGM was also a great occasion for Phnom Penh SEZ board of directors to present the company’s future development plans to the shareholders: “We have spent a lot of time and energy to achieve a positive IPO campaign in order to be listed on the Cambodian Stock Exchange. During that time came the economic slowdown, and only five foreign companies purchased land in the special economic zone to build factories last year.” says Mr. Hiroshi Uematsu, CEO of Phnom Penh SEZ Plc. ”We are intensifying our efforts to target quality investors from countries within Asia, Europe and the US. We want to diversify our offer by providing direct construction work services, by increasing our offer of rental factories and by expanding our offer of other utility services for our investors. By 2020, we target to increase non-land sales (recurring income) up to 50%”

For the coming years the company has a focus on its latest SEZ project in Poipet: Poipet PP Special Economic Zone. “Poipet is located a mere two and a half hours from Bangkok and has seen a flurry of business activity in the past years. Its strategic location combined with widely available and cost effective labor, modest energy costs and reliable infrastructure, are making the area a hotspot in inter-Asean business flows and Poipet a strategic location for industrial developments,” says Hiroshi Uematsu.

Located in close proximity to the Thai border with direct access to the future Asian highway No.1, Poipet PP SEZ meets the demands of higher technology manufacturers currently operating in Thailand as well as those who in the near future want to benefit from a highly strategic location in the midst of the Asean Economic Community (AEC).

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Another premium Japanese brand is set to establish itself at Phnom Penh Special Economic Zone following the first investment deal made at the industrial estate after the introduction of direct flights from Tokyo to Phnom Penh last week.

Phnom Penh, 6th September 2015 – The two companies, represented by Mr. Hiroshi Uematsu, Chief Executive Officer of Phnom Penh SEZ PLC and Mr. Kazushige Shinohara, President of Shinohara Co.Ltd., have agreed on contract terms. The renowned cosmetic manufacturer is building a new facility at Phnom Penh Special Economic Zone.

"We are very excited to welcome Shinohara to Phnom Penh SEZ," said Hiroshi Uematsu. “Shinohara are the first Japanese company to join us since direct flights from Japan to Cambodia have been established. We expect that more Japanese companies will set up their operations at Phnom Penh SEZ in the near future.”

The transaction involves the purchase of 1.4ha of land from Phnom Penh SEZ by the Japanese manufacturer. Before starting construction in 2017, the Japanese cosmetic company is aiming to complete its official registration to be able to operate in the country by the end of this year.

"This direct flight will intensify the dynamism of our relations with Japan. It will hopefully contribute to accelerate our already existing good connections with Japan’s business community, especially in terms of business and investment. Cambodia is on the map for businesses worldwide who are keen to benefit from our open economy and the many, incentives the government offers to international investors,” says Uematsu.

The first direct flight between Tokyo and Phnom Penh by All Nippon Airways (ANA) landed on Thursday the 1st of September and is expected to drastically boost business and tourism between Japan and Cambodia.

“For investors, Cambodia will seem less far away from Tokyo with this direct flight. It is less time consuming and it will make a great difference for business people to come and explore the potential of Cambodia’s economic growth and development.”

As of today, Phnom Penh SEZ is the number one destination for Japanese investment in the country, with 43 Japanese companies inside the zone. This most recent signing highlights the ability of the industrial estate to attract Japanese manufacturers to Cambodia, bringing a wide range of new industry sectors to the country and contributing greatly to the diversification of the Cambodian economy.


No injuries during fire on construction site of Yeo Hiap Seng (Yeo’s)

Phnom Penh, 6th September 2015 – On Monday the 5th of September a fire broke out on the Yeo Hiap Seng construction site around 12pm. 23 fire trucks and 01 ambulance have been mobilized for this operation.

“When the incident occurred, the fire fight service was called by the contractor (Yeo’s) and they made what was necessary to control the fire within two hours,” says Hiroshi Uematsu, CEO of Phnom Penh SEZ Plc. “All employees present on-site at the time of the incident were evacuated safely and no one was injured”.

An investigation into the cause of the fire and the extent of the damage have been launched by the security team of Phnom Penh SEZ. “The ignition occurred at the production material warehouse of the company. Phnom Penh SEZ facilities have not been damaged,” says Uematsu.

YEO'S, a well renowned FMCG (Fast Moving Consumer Goods) company has purchased 9.2ha of land at the industrial estate in 2015 to build a new beverage factory. Construction is planned to conclude in November 2016.

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Visit of Cambodia – Taiwan Education Program in Phnom Penh Special Economic Zone

To reply to Cambodia – Taiwan Education Program’s request for Tour Visit in PPSEZ on the main purpose of seeking job opportunities for Cambodian citizens, Phnom Penh Special Economic Zone organized an event of Tour Visit for them in PPSEZ on August 31st – September 01st, 2016. By doing this, we hoped we could contribute to offer Cambodia citizen jobs and reduce migration in Cambodia.

Remarkably, this event was participated with 40 participants who were representatives of local authorities from 3 provinces (Battambang, Kompong Thom, and Siem Reap) and National Employment Agency from 4 city and provinces (Phnom Penh, Battambang, Kompong Thom, and Siem Reap); all of them were invited by Cambodia – Taiwan Education Program.

On the first day of this event, PPSEZ conducted an orientation to offer the visitors a clear understanding about PPSEZ Investment and Recruitment Conditions/Procedures. All visitors were, later, accompanied to visit factories in the zone. For this two-day-long visit, 8 factories were arranged to visit and they were TAICA (CAMBODIA) CORPORATION, DENSO (CAMBODIA) CO., LTD., ROKKO PHOENIX CO., LTD., ANGKOR DAIRY PRODUCTS CO., LTD., HEIKO ASIA (CAMBODIA) CO., LTD., TANAKA FORESIGHT INC., KANEJU (CAMBODIA) CO., LTD., and MINEBEA (CAMBODIA) CO., LTD.  The visitors seemed amazing and satisfied during visiting plant tour in the factories. They have just realized there is this such great working place in Cambodia regarding to working environment and benefits.

PPSEZ Experience in Thailand Focus 2016

Mr. Fong Nee Wei (Chief Financial Officer – Phnom Penh SEZ), while participating in the panel session on the opportunities in Greater Mekong Subregion (GMS). Phnom Penh SEZ is invited by Stock Exchange of Thailand (SET) to join Thailand Focus 2016. The 2-day investment forum in Bangkok celebrates its 10-year anniversary by drawing overwhelming attention from a number of 112 foreign institutional investors and exchange authority in GMS.

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

+855 (0)23 729 798
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