December 22, 2021
Phnom Penh SEZ Plc (PPSP) wishes to announce that its’ founding shareholder and former chairwoman, Lok Chumteav Oknha Lim Chhiv Ho (“Madame Lim”) has disposed 100% of her 45.09% shareholdings representing 32,410,000 shares in PPSP to Inter Logistics (Cambodia) Co. Ltd,(ILC) part of the Royal Group of Companies. Mr. Eric Tan, eldest son of Madame Lim and Chairman of PPSP stated that the family has taken this opportunity to divest off its interest in PPSP as it continues to pursue new investment opportunities in Cambodia via the LCH Investment Group Co. Ltd. with a focus on industrial real estate development (such as its’ 1000-hectare Steung Hav International Port and SEZ) and the international premium products distribution business via the Attwood Import and Export Co. Ltd.
Having started Phnom Penh Special Economic Zone (PPSEZ) in 2006 when it was nothing more than vacant land, Madame Lim has been the driving force at the Company until her retirement in 2019. As Chairwoman, in 2016, PPSP listed its shares on the Cambodia Stock Exchange thereby becoming the first and only IPO in Cambodia with a woman as both founder and chairwoman. PPSEZ is now home to more than 32,000 workers; has attracted over $700 million of investments from over 100 multinationals including Ajinomoto, Coca-Cola; Denso; Marvel Garments and Minebea. As such, PPSEZ is commonly recognized as one of the most successful SEZs in Cambodia.
ILC together with PPSP’s existing strategic investors such as JWD Group (Thailand) and Zephyr Co. Ltd. (Japan) will, continue to guide PPSP into the future by assisting the Company in offering customers value added services. It is envisaged that with the new shareholder on board, the Company will keep growing further and stronger.
Uematsu, CEO of PPSP noted that he wished to thank Madame Lim on behalf of all
stakeholders for her unyielding commitment to making PPSP what it is
today. “We are confident that the new
controlling shareholder Inter Logistic (Cambodia) Co. Ltd will continue her
legacy of such commitment thereby allowing the Company to continue to offer
quality services by maximizing the synergies between Inter Logistic (Cambodia)
Co. Ltd as well as The Royal Group’s businesses and PPSP’s international
investors; employees and business partners”.