Wing Bank (Cambodia) Plc. (Wing Bank) Invested US$2Million in the CAIC Bond to Support the Development of Techo International AirportJanuary 28, 2022
A signing ceremony is held between Cambodia Airport Investment Co., Ltd. (CAIC) represented by Mr Charles Vann, Director; and Wing Bank represented by Mr. Han Peng Kwang, Chief Executive Officer; presided by Neak Oknha Dr Pung Kheav Se, Chairman of Overseas Cambodian Investment Corporation Ltd. (OCIC) and Neak Oknha Kith Meng, Chairman and CEO of Royal Group of Companies, for the investment of US$2 Million in Techo International Airport Guaranteed Bond through private placement.
The funds raised from Techo International Airport Guaranteed Bond will be used for the construction and development of Techo International Airport in Kandal province. Techo International Airport project is currently 30% completed with a total amount of US$390 Million (excluding airport land) already invested by CAIC.
The coupon rate of CAIC bond is 5.5% per annum with 3 years tenor and guaranteed by OCIC.
OCIC is the largest investment group and local conglomerate in Cambodia. The company’s core expertise is in infrastructure development, real estate, construction, property management, education, medical, shopping mall, hotel, rice mill, manufacturing etc with notable projects such as Techo International Airport, Diamond Island City, Norea Island, Chroy Changvar Satellite City and Olympia City Complex.
CAIC is a joint venture between the Royal Government of Cambodia (RGC) represented by the State Secretariat of Civil Aviation and OCIC. The RGC has granted CAIC the rights to own, design, construct, finance, operate, maintain and manage Techo International Airport Project.
Wing Bank (Cambodia) Plc, the bank for every Cambodian, is driven by the vision to provide every Cambodian with convenient access to financial services relevant to, and for the improvement of, their daily lives. Wing Bank provides an array of advanced financial products both for individual and corporate customers. These include loans, deposits, micro savings, credit referral services, money transfers, utility and insurance payments, supply chain payments, payroll services and even phone top-ups. Wing Bank is committed to providing financial, gender and digital inclusion to the unbanked and the under-banked, allowing every Cambodian to enjoy convenience and security when it comes to financial services.