Tuesday, January 29, 2008

Malaysian telecoms to invest big in Cambodia

Malaysian Telecommunications, also known as Telekom Malaysia , will invest US$100 million in Cambodia within two years, the company’s executive director recently said.

Telekom Malaysia is currently examining mobile phone markets in Laos , Myanmar and Vietnam , although the firm’s US$100 million Cambodian investment is certain, Yusof Annuar Yaacob told Reuters last weekend. The funds will be primarily spent on upgrading the network over the next 18 to 24 months, he said.

Telekom Malaysia is currently negotiating with the Laotian government and Myanmar junta and researching the Vietnamese market, Yaacob said.
Malaysia is one of the largest foreign investors in Cambodia . In 1990, Malaysian investors were the first into Cambodia and, although Malaysia has been overtaken by Korea , Russia and China in the last few years, they are still in the top ten investors, with projects worth billions of dollars.
Source from: MC&D Daily News: The Cambodia Press Review 29 January 2008