PPSP is one of the first and biggest SEZ in Cambodia which contributes to the economic development of Cambodia by bringing in more than 95 manufacturing and service companies from 12 different countries and employing more than 32,000 people.
Inter Logistics (Cambodia) Co., Ltd, a subsidiary of Royal Group of Companies has acquired 45.09% of Phnom Penh SEZ Plc.(PPSP) become the largest shareholders of the company. SBI Royal Securities is the arranger and broker for the acquisition of one of the leading special economic zones in Cambodia.
PPSP is the leading Special Economic Zone (SEZ) in Cambodia, employing over 32,000 Cambodian and international employees and providing tenants a range of benefits including exemptions from customs tax, income tax and other taxes, resulting in reduced costs for infrastructure, utilities, raw material, and other resources, which increase export competitiveness and benefits for international trade.
PPSP received approval as a developer and operator of a multi-product SEZ from the Royal Government of Cambodia on 19 April 2006. Its main purpose is the development of industrial land for sale or lease.
The company provides additional services to its tenants within PPSP including the supply and distribution of treated water, infrastructure maintenance, advisory services, administrative support, waste treatment, and other services. PPSP is a listed company in the Cambodia Securities Exchange (CSX) since 2016.
Neak Oknha Kith Meng, Chairman of the Royal Group of Companies and Inter Logistics (Cambodia), said, “This acquisition is another great milestone for the development of the Royal Group of Companies. PPSP is one of the first and biggest SEZ in Cambodia which contributes to the economic development of Cambodia by bringing in more than 95 manufacturing and service companies from 12 different countries and employing more than 32,000 people. The SEZ services clients from Japan, China, Singapore, the United States, Malaysia, the Netherlands and Australia in wide-ranging industries including automobile parts, garment, food and beverage, plastic products, electronic products, and jewelry. In this investment, we will work closely with the management team of PPSP to bring more new technology systems, management, and business strategies, and investors to continue to develop the company and contribute to the society and the economy of the country.”
The acquisition has received approval from the Securities Exchange Regulator of Cambodia (SECC) on 17th December this year.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.