SAM: Project of telecom services at Cambodia

Cables and Telecommunications Material Joint Stock Company (SACOM) has informed of the project of investing and deploying telecom services – a joint venture between Pacific Communication Pte.Co.Ltd (PCP) and SACOM and Vietnamese stockholders at Cambodia as follows:

The project is temporarily suspended because the Ministry of Post and Telecommunincations of Cambodia revoked its business license. It was explained that the officals suspected PCP to deploy telecom services illegally. However, the Phnom Penh court rejected the petition of the Ministry of Post and Telecommunincations of Cambodia. Until now, PCP has not received the business licencse.

The Board management of PCP continues to do procedures to get the business license. At present, SACOM and Vietnamese stockholders withdraw capital which was transferred to the PCP, after deducting for expenses invested to the project during the last time. Rights and expenses for the project are not basically lost. SACOM will refund to stockholders basing on their contribution rate.

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