Thou Vireak | Publication date 21 January 2021 | 21:49 ICT
Central Trust Co Ltd, a joint venture between Cambodian and Chinese investors with a trustee licence in hand, has launched the first real estate trust products in the Kingdom.
Speaking at the inauguration last week in Phnom Penh, CEO Ling Dong announced five series of products – Funan, Zhenla, Angkor, Khmer and Bayon – which he said represent “five different functions of the company”.
He said: “Investment in the real estate market in Cambodia with its persistent display of potential has compelled companies to pick up real estate as their core, fundamental assets.”
A representative of Peak Capital Management Co Ltd, a partner of Central Trust, said at the event: “I strongly hope that all of Central Trust’s products will designed carefully and will be able to make their way around Cambodia, so that they can bring even better trust fund management to its customers.”
Ling also signed a letter of interest on “Funan series real estate single trust” products with two investors.
He said: “The two parties believe that the contract will help improve the security of clients’ corporate funds and share high-growth dividends, as well as bring economic growth and real estate development in Cambodia.”
Securities and Exchange Commission of Cambodia (SECC) director-general Sou Socheat voiced hope that Central Trust would garner more recognition in the Kingdom and make headway in the development of the trust industry.
He said: “The next step is for the SECC to invite licensed financial institutions in Cambodia to meet [Central Trust] and find out more [about them, so that we may] promote the development of trust fund management that is aligned with standards.”
Signed into law by the King on January 2, 2019, the Law on Trust aims to regulate funds, financing or subordinated debts provided by development partners and support the banking and microfinance sector in Cambodia.
The law divides trusts into four categories – commercial, public, social and individual.
The Telecommunications Regulator of Cambodia (TRC) has blocked the URL addresses of nine websites after determining that they contained pornographic images and videos of children. The TRC said on December 13 that they will continue to cooperate with the Cambodia National Council for Children (CNCC) and
Cambodia is reviewing whether the military has any US-made weapons or equipment in order to follow Prime Minister Hun Sen’s directive to the Royal Cambodian Armed Forces (RCAF) to either shelve or destroy them in response to the US’ imposition of an arms embargo.
Cambodia’s public infrastructure is growing by leaps and bounds, with hardly a day going by it seems without another announcement about the completion of a new stretch of road connecting one town to another or a new bridge spanning one of the Kingdom’s rivers
SIM Senacheert, a high-profile financial veteran who currently helms local lender Prasac Microfinance Institution Plc, has decided to step down after nearly two decades in top posts. His resignation comes shortly after South Korea’s KB Kookmin Bank, New York-listed KB Financial Group Inc’s (
The Ministry of Health has detected the first case of the Omicron coronavirus variant on a 23-year-old Cambodian woman travelling from Ghana. In a press release late on December 14, it said the woman – a resident of Svay Rieng province’s Bavet town – travelled from the West
Days after endorsing his son Hun Manet as a candidate for the top office, Prime Minister Hun Sen hinted that a “reserve cabinet” had already been formed around a younger generation of leaders. The prime minister noted that these reserve cabinet members are not expected
The renting and sale of real estate property across Laos, especially in Vientiane, still faces challenges due to the continued impact of the Covid-19 pandemic.