HLH acquires interest in Cambodian land; Select Group launches Cambodian JV
by Shiwen Yap
Cambodia is seeing renewed interest from Singapore firms. A frontier market that is relatively untapped, the transactions are largely in the realty sector. The latest deals from Singapore listed firms has seen HLH acquires 30% stake in two Cambodian land plots, and Select Group launching a JV for its foray into that market.HLH acquires 30% stake in two Cambodian land plots
HLH Group, the agriculture and property group, has acquired a 30 per cent interest in two plots of lands in Cambodia through its subsidiary.
Purchased for a consideration of US$2.8 million, the plots are located at Preah Sihanouk Province with sizes of 4,295 sqm and 5,427 sqm respectively. In a filing, HLH said the purchase was negotiated on a willing-buyer-willing seller basis, accounting for the location and development prospects of the property.It also added that the deal was part of HLH’s continual effort to capitalise on development opportunities in the region, and said the cost of the transaction was being financed through internal funds and bank borrowings.
Select Group launches Cambodia JV
Select Group has entered into a joint venture (JV) exploring suitable food retail and food court locations in Cambodia through their subsidiary, Singapore-incorporated Universal Dining Global.
The wholly-owned subsidiary plans to form a JV firm with Cambodia-incorporated M.W. Metropolitan International Brands Co. With a combined paid-up capital of $300,000, the JV is a 60:40 arrangement between Universal Dining Global and MWM.
MWM is a private limited liability company whose business is the lifestyle retail sector, with a focus on food and beverage and recreation and fashion. The JV is part of Select Groups international business expansion efforts, according to the firm.