Telecom firm buys up 49 pct of Cambodian counterpart
Thanh Nien News (Vietnam)
Vietnam-listed Cables and Telecommunication Materials Co (Sacom) has acquired a 49 percent stake in Cambodia-based Pacific Communications Pte Ltd (PCP).
The deal, worth US$7.9 million was inked Tuesday in Phnom Penh between representatives of Sacom – an offshoot of the state-run Vietnam Post and Telecommunication Group – and PCP, a leading Cambodian IT and telecom supplier.
Under the deal, Sacom together with other strategic investors of PCP will build up and provide telecom services in Cambodia.
Do Van Trac, general director of Sacom said the two parties would restructure ownership, organization and operations of PCP in tune with Cambodian law and the contract terms.
Sacom, established in 1986 as a state-run company, was converted into a shareholding company in 1998.
It became the second company to list on the Vietnam stock exchange in 2000.
The company targets to become a multi-field investment group by 2010.
Sacom’s chartered capital is now VND421 billion ($26 million), 3.5 times higher than that in 1998.
Last year, Sacom posted turnover of VND836 billion ($52 million), up 72 percent over the previous year.
Source: Thoi bao Kinh te Vietnam – Translated by Ha Viet
The deal, worth US$7.9 million was inked Tuesday in Phnom Penh between representatives of Sacom – an offshoot of the state-run Vietnam Post and Telecommunication Group – and PCP, a leading Cambodian IT and telecom supplier.
Under the deal, Sacom together with other strategic investors of PCP will build up and provide telecom services in Cambodia.
Do Van Trac, general director of Sacom said the two parties would restructure ownership, organization and operations of PCP in tune with Cambodian law and the contract terms.
Sacom, established in 1986 as a state-run company, was converted into a shareholding company in 1998.
It became the second company to list on the Vietnam stock exchange in 2000.
The company targets to become a multi-field investment group by 2010.
Sacom’s chartered capital is now VND421 billion ($26 million), 3.5 times higher than that in 1998.
Last year, Sacom posted turnover of VND836 billion ($52 million), up 72 percent over the previous year.
Source: Thoi bao Kinh te Vietnam – Translated by Ha Viet
4 comments:
It's dangerous for our Cambodia national security if foreign country runs our TELECOMMUNICATIONS NETWORK
TELECOMMUNICATIONS NETWORK runned by foreign countries are prohibited in Thailand and also in VietNam
I WOULD LIKE TO WARN ALL CAMBODIAN LEADERS AND ALL LEVEL GOVERNMENT OFFICIAL.
The communist Vietnam is attempting take controll over Cambodian Government in the future by running TELECOMMUNICATION NETWORK IN CAMBODIA. If Cambodia let Vietnam operating Telecommunication in cambodia it will be a disaster for Cambodian military intellingence and all level in the government. The Communist Vietnam want dig into sensitive information, secret information and documents that cambodian government do in daily bases. This is a very dangerous for cambodia. All phones,faxes, communications will be taped by Vietnamese Military intellingent and will be used against cambodia in the war and political manuveour. And it will used Telecommunication to harass the Cambodian Government and the people in a political disput. This si a deeper step for Vietnam to grab the Land. Please don't let them do that.
signature: Cambopolitcal analyst
If the Cambodia government is interested in protecting the privacy and national security it should NOT allow Vietname to whole any ownership in Cambodian telecom or any other organisation.
Hey! Do you remember all those high level contacted by the Vietcong leaders with AH HUN SEN officials over the years! I can tell you this for a fact that Cambodia will be a carbon copy of Vietname in the very near future before 2008!
The whole Cambodian government structure will be designed by the Vietcong in Hanio! So what does this mean for Cambodia and Cambodian people?
Are you ready for the answer? The answer is Cambodia will become another Khmer Kampuchea Krom and Cambodian people will have no say or do about their future just like the Khmer Krom people! I know how this sound cliche but this is what is happening right now.
Right now the Vietcong are working overtime to establish a Cambodian government structure that will only respond at the Vietcong command from Hanio.
I hate to say anything bad about Sam Rainsy Pary which is the only opposition party in Cambodia but now it is the time! Sam Rainsy Party will not win 2008 election and I will bet my life on it! The line between the opposition and AH HUN SEN is getting blurry.
The new motto of the Kingdom of Cambodia is: " Nation, Religion, Vietcong( not King )".
May Buddha bless Cambodia and Cambodian people before it is too late! The point of no return is coming before 2008.
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