Monday, February 15, 2010

Cambodia in the Financial Times

Article by Elaine Moore, "Catching Cambodia on the cusp of development",

"Douglas Clayton, founder of frontier market fund manager Leopard Capital, has a habit of relocating to the country he believes is on the cusp of development. Right now, his home is Cambodia.

“It’s fun to be in countries that are changing rapidly,” he says. “Cambodia is where Thailand was 30 years ago, and where Vietnam was 15 years ago. There is a lot going on.”


In fact, Mr Clayton rates Cambodia alongside Hong Kong and Singapore as one of the most open countries to do business in. Corporate income tax is 9 per cent and there are no laws against 100 per cent foreign ownership of companies, although land can only be fully owned by Cambodians."

Also from the article: Of the US$53 million raised by Leopard Capital, the largest investment has been US$5m to CamGSM, which operates Cambodia’s largest mobile phone network; US$$2m into Kingdom Breweries, a Cambodian beer brewery; over $1m in Greenside Holdings to construct a rural power distribution system; and $1.5m for 24 per cent of a property project in downtown Siem Reap; and up to US$4m into Cambodia Plantations to lease approximately 3,000 hectares of land to grow rice. The first harvest is expected in 2011.

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