[PHNOM PENH POST]
MEMBERS of Malaysian conglomerate Hong Leong Group discussed potential
investments in the Kingdom with Prime Minister Hun Sen yesterday,
according to officials.
Hong Leong Group director Quek Leng Chan
told the premier his firm is interested in the banking, insurance,
manufacturing and real estate sectors in Cambodia, said Eang Sophalleth,
personal assistant to Hun Sen.
“The purpose of the delegation
visiting Cambodia is to study the investment environment and seek out
investment opportunities,” Eang Sophalleth quoted Quek Leng Chan as
saying to Hun Sen.
Quek Leng Chan - who was ranked by Forbes
earlier this year as Malaysia's fourth richest man, with a net worth of
US$4.8 billion - intends to send company experts to Phnom Penh to review
potential investments in detail, said Eang Sophalleth.
Hun Sen
requested Hong Leong Group offer more information on its plans in
Cambodia, and urged the firm to meet with the relevant ministries and
government officials.
The prime minister particularly welcomed
the group's potential invest in the Kingdom’s banking sector, as there
is high borrower demand but not yet the resources to meet it, Eang
Sophalleth said. Bursa Malaysia-listed Hong Leong Bank is part of the
group.
CDC figures showed Malaysia’s approved investment in
Cambodia totalled $167 million in 2010, making it the third-largest
source of foreign investment in the country for the year.
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