PLMP Venture Capital to lead SME Growth Board opening Cambodian listed companies to direct US investment
PHNOM PENH, Cambodia, June 2, 2020 /PRNewswire/ -- PLMP Venture Capital, the Cambodian investment arm of Singaporean PLMP Group of Companies, announced today the launch of the SME Growth Board, an initiative led by the fund management firm in partnership with local authorities such as the Securities and Exchange Commission of Cambodia (SECC) and the Cambodia Security Exchange (CEX). The newly formed committee aims at bringing a selection of 30 SMEs to public listing over a span of 3 years and link them directly to US investment.
"We have secured exclusive agent rights from the American OTC-QX and OTC-QB markets to open the purchase of Cambodian stocks to their investors", says PLMP Venture Capital Chairman Peter Lim, the Singaporean entrepreneur who founded blockchain firm PLMP Fintech in 2017 and gradually expanded its ecosystem of services internationally and across different industries. "The COVID-19 pandemic forced businesses to restrategise and realign in order to survive", adds Lim. "Cambodia's booming economy and growing pool of successful SMEs that have yet to go public are an opportunity that cannot be missed".
Launched with the full support of the Cambodian authorities, the SME Growth Board can also count on partners such as the Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC), financial advisory and investment bank Yuanta Securities and business networking platform CSME, a member of PLMP Group of Companies offering assistance to foreign entities and entrepreneurs as they establish their presence in the Kingdom.
The SME Growth Board is just one of the many initiatives carried out by the fund and asset management firm to promote local businesses, among which the first Cambodia SME Championship planned for 5th July in the Kingdom's capital Phnom Penh. "Our goal is to create a platform for start-ups and established SMEs to connect with VCs and institutions", explains Lim, whose PLMP Venture Capital will sponsor the US$1,000,000 business grant awarded to the winning company selected by the grand jury at the end of the event.