PPSP Acquiring Local Construction Firm to Expand Long-Term Business in Cambodia

Phnom Penh SEZ operator PPSP has decided to acquire local construction company, Sahas E & C Co., Ltd. for over US$1.1 million in order to expand its business ambitions in Cambodia after obtaining permission from the Securities and Exchange Regulator of Cambodia (SERC).

According to the company’s announcement on 22 March, prior to the acquisition, PPSP already owns 60% of Sahas E&C Co., Ltd. Thus, this transaction is the purchase of remaining 40% stake from the previous owner LCH.

The sale price is US$1,172,515 with US$500,000 already paid during the 18 March agreement signing and the remaining balance to be paid before 14 April.

“Sahas E & C Co., Ltd. is primarily engaged in all construction and building works including but not limited to engineering, design, procurement, project management and maintenance,” said the firm’s statement.

Since Sahas E&C is a profitable company, by acquiring the remaining 40% shares, the results of PPSP will be enhanced both in the short and long term,” the statement added.

Phnom Penh SEZ Plc. (publicly listed in Cambodia under PPSP) currently manages an area of more than 357 hectares. The firm also oversees other 80 international companies from 15 other countries.

- Video Advertisement -

Related Post

Chinese Company Sets Sights on Durian Cultivation and Processing in Cambodia

In a significant move to enhance agricultural exports, a Chinese company, Zhengzhou Chen’s Sun, has expressed keen interest in investing in durian cultivation and establishing processing facilities in Cambodia. This initiative was prominently discussed during a meeting between Prime Minister Hun Manet and Xuemei Chen, the Chairman of Zhengzhou Chen’s Sun, on November 6, 2024, […]

The Gov’t announces a 3-day discount on the Phnom Penh-Sihanoukville Expressway

The Ministry of Public Works and Transport (MPWT) has announced a three-day discount on the Phnom Penh-Sihanoukville Expressway to celebrate the Royal Water Festival, floating lanterns, and moon worshiping, which will take place from November 14 to November 16, 2024. This announcement was made in notification No. 052 S.K.R. dated November 12, 2024. During this […]

Cambodia Launches Export Service Center to Boost International Trade

In a significant move to enhance the country’s export capabilities, the Cambodian Ministry of Commerce has officially inaugurated the Export Service Center (ESC). This new initiative, launched on November 5th, 2024, aims to promote Cambodian products in global markets and empower local traders with the tools they need to succeed internationally. The inauguration ceremony, held […]

A firm in Pursat province turns rubbish into organic fertilizer

A company in Pursat Province is turning waste into organic fertilizer. Save the Lives (Cambodia) Co. Ltd. is licensed to clean, collect, transport, and store solid waste in the area, processing it into natural organic fertilizer. The company’s chairman, Mr. Sy Len, mentioned that they received the right to manage solid waste starting mid-April 2024, […]

China Accelerates High-Speed Mobile Network Development in Cambodia

As Cambodia embarks on its digital transformation, the push for advanced mobile connectivity is gaining momentum with significant Chinese investment. The ambitious initiative aims for 100% high-speed internet coverage in urban centres and approximately 70% in rural areas by 2025. This was confirmed by HE Wang Winpin, the Chinese Ambassador to Cambodia, at the recent […]

Major Textile Industrial Park Construction Launched in Kampong Speu

A groundbreaking ceremony was held on Nov 8th, 2024 for a large green textile industrial park spanning 500 hectares in Chheu Neang village, Taing Sya commune, Phnom Sruoch district. The event was attended by HE Heng Sour, Minister of Labor and Vocational Training, HE Dr. Cheam Chansophoan, Governor of Kampong Speu Province, and Mr. John […]