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By Sok Lak
The OSK Indochina Securities Limited officially launched in Cambodia with capital of 10 million USD in which divide into 10 million shares (1 share = 1 USD) on 7 June under presided over by H.E Keat Chhon, Minister of Ministry of Economy and Finance and Chairman of Securities and Exchange Commission of Cambodia.
In the open ceremony, H.E Keat Chhon said that the setting up of OSK Indochina Securities Ltd is the show the active joint of private sector in building up stock market in Cambodia.
Dato’ Nik Mohamed Din Bin Datuk Nik Yusoff, Chairman OSK Indochina bank limited and OSK Indochina Securities Limited, said that Cambodia has certainly made much growth and progress over the last decade. “I and confident that the Government of Cambodia will continue to make further strides to ensure continued development and provide a conducive environment and foundation to attract investment into Cambodian stock exchange.”
In the same time, Initial Public Offering (IPO) seminar on “Raising Capital for the future” also launched to share experience in preparing initial public offering. “This seminar is important for participate to know how to do initial public offering with its advantage and disadvantage, and also know clearly about relevant characters in market before making decision to enter stock market,” H.E Keat Chhoun mentioned.
This seminar follows the successful Fund Managers Conference which was held last November where 16 Cambodian companies and state-owned enterprises hosted meetings with 33 investors from Malaysia, Singapore, Indonesia and Vietnam. “The organizing of seminars reflects the genuine desire of the Cambodian Government and Regulators to assist companies and corporations here as its economic recovery continue to gain momentum,” U Chen Hock, CEO and Executive Director of OSK Investment Bank Berhad said.
He added that IPO seminar will also bode well for the impending launch of the Cambodian Securities Exchange (CSX) and long-term market development prospects.
OSK was first establishing in 1963, listed on the main board of Bursa Malaysia in 1991. Over these past years, OSK has grown to be a fully fledged investment bank with a strong ASEAN franchise and a foothold in Hong Kong. Now it has total 85 branches located in Malaysia, Indonesia, Cambodia, Hong Kong, Singapore, Shanghai and Shenzhen China. The main office of OSK Indochina Bank limited in Phnom Penh was officially opened in October 2008. In the first year of operation, it came with another four branches around the city. In November 2010, the bank enlarged it reach to four province: Battambang, Kampong Cham, Preah Sihanouk and Siem Reap.
Source: The Southeast Asia Weekly, June 12-18, 2011, Vol. 5, Issue 24, Page 9