October 26, 2011

S Korea, Cambodia cooperate in bank securities business


PHNOM PENH -- South Korea's Tong Yang Securities-Cambodia on Wednesday signed a Memorandum of Understanding with Cambodia's largest commercial bank ACLEDA and its subsidiary ACLEDA Securities Plc. on securities business cooperation.

The MoU was signed among You Joon Ryeol, president and CEO of Tong Yang Securities, In Channy, president and CEO of ACLEDA Bank, and Chhay Soeun, board chairman of ACLEDA Securities Plc.

"With this MoU, clients and investors throughout Cambodia will be able to access to a complete range of financial services and expertise," said a press release after the signing ceremony.

Tong Yang Securities-Cambodia is currently preparing IPOs for two state-owned enterprises--Phnom Penh Water Supply Authority and Telecom Cambodia--in order to list in the CSX, which is scheduled to start trading from early next year.

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