Hwang-DBS to start Cambodia bank ops soon

From: "wakaluk....@yahoo.com.sg"
Date: Mon, 29 Jun 2009 21:39:42 -0700 (PDT)
Local: Tues, Jun 30 2009 12:39 pm
Subject: Re: Hwang-DBS to start Cambodia bank ops soon

Malaysia hopes to fool Cambodians with DBS brand name .


> Published: 2009/06/29
> HWANG-DBS (Malaysia) Bhd (HDMB) is a step closer towards operating a
> commercial bank in Cambodia.

> HDMB said Cambodia's Minister of Commerce had on June 26 issued a
> certificate of incorporation of HwangDBS Commercial Bank Plc (HDCB)
> which is effective from June 19, 2009.

> As required by the National Bank of Cambodia, HDCB targets to start
> operations in Cambodia by July 31, subject to a final licence to be
> issued by the National Bank, HDMB said in announcement on Bursa
> Malaysia.

> HDCB is a wholly-owned subsidiary of the HDMB and will operate as a
> commercial bank in Cambodia.

> Currently, HDCB has an issued and paid-up capital of US$2 comprising
> two ordinary shares of par value US$1 each.

> The issued and paid-up capital of HDCB will be increased to US$20
> million, comprising 20 million ordinary shares of par value US$1 each,
> all to be issued to HDMB before the start of business operations. -
> Bernama

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