Login Register

Logo of Phnom Penh Post newspaper Phnom Penh Post - CSX head urges use of private equity

CSX head urges use of private equity

| Publication date 12 July 2018 | 10:29 ICT

Content image - Phnom Penh Post
Hong Sok Hour, CEO of the Cambodia Securities Exchange (CSX). Heng Chivoan

CSX head urges use of private equity

The head of the Cambodia Securities Exchange (CSX) on Wednesday urged businesses in the Kingdom to consider utilising private equity funds, saying it would help them grow faster and make it easier for them to list on the exchange in the future.

Speaking to reporters at a seminar on Wednesday called “Raising Money from Private Equity Funds”, CEO Hong Sok Hour said there are more investment funds available for Cambodian entrepreneurs and they should take advantage of the funds in order to expand their businesses.

According to Sok Hour, private equity firms are not just a source of money but have expert teams in place to give technical support and provide efficient business management advice.

“We have changed our strategy from just finding companies to list on our exchange to the creation of initiatives to support SMEs [small- and medium-sized enterprises] in our country to grow faster,” he said, adding that private equity funds will make for a clean financial record, making it easier to list on the bourse.

Over a hundred entrepreneurs attended the event and listened to guest speakers Kem Bora, a partner at private equity firm Mekong Strategic Partners, and Pech Bolene, founder and CEO of Westline Education Group, which has experience in receiving funds and support from private equity firms.

Bora said that the market for private equity funds has been increasing noticeably in the Kingdom over the past few years, as more firms reserve larger sums to support the growth of SMEs.

While there are many equity firms in the market, Bora said that the five largest – EMIA, Belt Road Capital Management, Smart Axiata, Leopard Capital, and IFC, the World Bank’s lending arm – have earmarked $300 million for SMEs.

“There are more funds available for SME owners to grow, but it is just a matter of whether they are ready and qualified,” he said.

Prom Pharavatey, CEO of internet service provider ATA Telecom, said her company was founded with funding borrowed from family and friends, and has limited growth opportunity due to capital limitations. She said being able to get capital from equity firms would indeed help them growing faster.

“It is not easy to obtain capital from equity firms, but it is better to know the criteria and prepare ourselves to obtain funding in the future.”

Contact author: Hor Kimsay

MOST VIEWED

  • Ministry orders all schools, public and private, to close for SEA Games

    From April 20 to May 18, all public and private educational institutions will be closed to maintain order and support Cambodia's hosting of the 32nd SEA Games and 12th ASEAN Para Games, said a directive from the Ministry of Education, Youth and Sport. Cambodia will host the

  • Almost 9K tourists see equinox sunrise at Angkor Wat

    Nearly 9,000 visitors – including 2,226 international tourists – gathered at Angkor Wat on March 21 to view the spring equinox sunrise, according to a senior official of the Siem Reap provinical tourism department. Ngov Seng Kak, director of the department, said a total of 8,726 people visited Angkor Wat to

  • Angkor Beer strengthens national pride with golden new look and fresher taste

    Angkor Beer – the "Gold of Angkor" – has a new look, one that is more stylish and carries a premium appeal, as well as a fresher taste and smoother flavour, making it the perfect choice for any gathering. Angkor Beer recently launched its new design, one

  • Newest horror film showcases unique Khmer culture, identity

    At first glance, the trailer to new horror sensation The Ritual: Black Nun looks like a western-produced feature film. As the story reveals itself to the viewers, it becomes clearer that this is a Khmer film, with a strong Cambodian identity and close links to

  • Water supply authority assures public shortages over early ‘24

    The Phnom Penh Water Supply Authority (PPWSA) asked for understanding from Phnom Penh residents in some communes where water pressure is weak. They assured residents that all supply issues will be resolved by early 2024, but have suggested that residents use water sparingly in the meantime.

  • Khmer ballet documentary debuts April 1

    A new documentary, The Perfect Motion, or Tep Hattha in Khmer, will premiere to the public on April 1. The documentary film follows two intertwined storylines: the creation of a show called Metamorphosis by the late Princess Norodom Buppha Devi (her very last production) and the

Related articles