Hwang-DBS opens bank in Cambodia

HWANG-DBS (Malaysia) Bhd has opened its first bank in Phnom Penh, Cambodia, Hwang-DBS Commercial Bank plc, to capitalise on the country’s position as an attractive international destination for business and foreign direct investment. The wholly-owned subsidiary was set up with a paid-up capital of US$20 million (RM70.8 million). Hwang-DBS CB is starting its banking activities on July 27 against the competitive local backdrop of more than 27 local and foreign commercial banks.

Source: Bussiness Times