A Japanese Company To Build a US$60 Million Building in Downtown Phnom Penh

AKP Phnom Penh, Maruhan Japan Group is planning to build its head office building of 22 floors in downtown Phnom Penh which would cost more than US$60 million.

The construction project was revealed by the Group's CEO Mr. Han Chang-Woo while paying a courtesy visit to Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen at the Peace Palace, Phnom Penh this morning.

According to H.E. Kao Kim Hourn, Delegate Minister Attached to the Prime Minister, Mr. Han Chang-Woo said during this second visit in Cambodia, he noted the fast development of the country compared to his first visit ten years ago when he also had a chance to meet the Cambodian premier.

Mr. Han Chang-Woo told Samdech Techo Hun Sen of his company, saying that it began in Cambodia as Maruhan Japan Bank with an initial investment capital of US$120 million. After having acquired Sathapana � a microfinance institution � and transformed itself into a commercial bank, it now has 168 branches across the country and employs 4,300 staff or 15 percent of the total staff working in the banking sector in Cambodia. The bank's total active asset has reached more than US$1 billion as of September 2017.

For the company's head office, he added, it will be built on Preah Norodom Blvd. and the construction would be completed by 2020.

For his part, Samdech Tech Hun Sen expressed his high appreciation to Maruhan Japan Group's active contribution in the socio-economic development of Cambodia.

The Prime Minister also encouraged the company to continue investing and contributing to the social and sports development in Cambodia.

Source: Agency Kampuchea Press