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Laos Urges ASEAN to Tackle Issues of Poverty Alleviation and Food Security in Region

Laos Urges ASEAN to Tackle Poverty, Food Security
Kids living in poverty, Laos. ( Photo : The Star )

The Lao Minister of Information, Culture, and Tourism has urged ASEAN members to help the region tackle poverty and food security, during the 29th ASEAN Socio-Cultural Community Council Meeting in Bali, Indonesia that took place this week.

Divisive Thai Ex-pm Vows to Return From Exile After Polls

Divisive Thai Ex-pm Vows to Return From Exile After Polls
Former Thai Prime Minister, Thaksin Shinawatra. ( Photo : AP )

BANGKOK (AP) — Thailand’s self-exiled former prime minister said Tuesday he wants to return home by July, making his declaration less than a week before the country heads to polls in which his daughter is a frontrunner.

Central Bank of Laos Puts Mechanisms in Place to Control Inflation

Bank of Laos Implements Mechanisms to Control Inflation
Mr. Soulysak Thamnuvong, Head of the Department of Monetary Policy at the Bank of Laos

The Bank of the Lao PDR has implemented various measures to manage high rates of inflation in the country, including increasing interest rates and issuing saving bonds, according to Mr. Soulysak Thamnuvong, Head of the Department of Monetary Policy at the Central Bank.

New Law in Vietnam to Require Social Media Users Verify Identity

Vietnamese people on phones using social media.

State media in Vietnam reported on Monday that the government is planning to enforce a new rule that requires social media users, regardless of whether they are using local or foreign platforms, to authenticate their identity.

Laos Records Trade Deficit of USD 17 Million in April

Laos Records a Trade Deficit of USD 17 Million in April
This is image is used only for representational purpose (photo: lemonde.fr)

The country’s trade deficit for April clocked in at USD 17 million, which was the lowest figure since January.

Rights Group Accuses Myanmar of Using Fuel-Air Explosive

Rights Group Accuses Myanmar of Using Fuel-Air Explosive
Human Rights Watch has accused Myanmar’s military of using an “enhanced blast” munition known as a fuel-air explosive in an airstrike that killed more than 160 people, including many children, at a ceremony held last month by opponents of army rule

BANGKOK (AP) — Myanmar’s military used an “enhanced blast” munition known as a fuel-air explosive in an airstrike that killed more than 160 people, including many children, at a ceremony held last month by opponents of army rule, a human rights monitoring group charged in a report Tuesday.

Construction Begins in Laos on Largest Wind Power Plant in South East Asia

Construction work has begun on a major wind power plant project in Laos following the signing of a loan agreement of close to USD 700 million.

Phillip Bank Forms Strategic Partnership with Cambodian Developer Sarita Waterside to Boost Foreign Real Estate Investments

SINGAPORE – Media OutReach – 10 May 2023 – Phillip Bank, the only Singaporean owned Commercial Bank operating in Cambodia, and its associate company Phillip Trustee (Cambodia), today announced a strategic partnership with Sarita Waterside. This partnership aims to attract more investments, particularly from Singapore investors, while building trust in the real estate market in Cambodia.

Photo caption from L to R: Ly Senleap, Director, Sarita Resort Co., Ltd, Cambodia Ong Teong Hoon, Chairman, Phillip Trustee (Cambodia) Co. Ltd Andy Goh, Director, Founder and CEO, r+ Pte Ltd, Singapore Dave Loo, Managing Director, SQFT Global Pte. Ltd. Singapore Maverick Maung, Head of Sales, Sarita Resort Pte. Ltd. Singapore
Photo caption from L to R:
Ly Senleap, Director, Sarita Resort Co., Ltd, Cambodia
Ong Teong Hoon, Chairman, Phillip Trustee (Cambodia) Co. Ltd
Andy Goh, Director, Founder and CEO, r+ Pte Ltd, Singapore
Dave Loo, Managing Director, SQFT Global Pte. Ltd. Singapore
Maverick Maung, Head of Sales, Sarita Resort Pte. Ltd. Singapore

Sarita Waterside, the first project of the Kampot Park Eco Estate masterplan, is a joint venture between Sarita Resort Pte. Ltd. and Kampot Mountain Park Development Co., Ltd. The development features 3 types of villas, namely Soodra Villas, Maha Villas, and Visha Villas, all are detached houses which offer private pools, floating pontoons amidst spacious gardens, and an indoor-outdoor lifestyle of barefoot luxury. The development also features clubhouse facilities and a spa.

Under the partnership, Philip Bank will provide a buy-back guarantee to buyers of units at Sarita Waterside. For the first phase of the project, the developer Sarita Waterside offers a unique Buy Back Option to investors. Upon physical completion of the villas (estimated to be around June 2024), investors will have the options of keeping the villas for rental investment, hold the property for their own use or exit the investment by selling the property back to the developer.

The developer offers the investors a Buy Back Price at 110% of the original sale price of the villas. To give further assurance to purchasers, this buy back option offered by Sarita Waterside will be supported by a letter of guarantee from Phillip Bank Cambodia.

Foreign buyers may now purchase and own these properties under a trust structure. Phillip Trustee Cambodia, a trust company fully owned by Phillip Bank, will be able to assist foreign investors to establish a trust to own such houses in a legitimate way, fully compliant with Cambodian law.

“With our partnership with Sarita Waterside, we expect to attract more foreign real estate investments to Cambodia. By combining our expertise and the strengths of Sarita Resort, we aim to create a positive impact with investors while promoting sustainable development in Cambodia,” said Ong Teong Hoon, Chairman of Philip Trustee.

Sarita Waterside adopts a holistic ecosystem comprising hospitality, agriculture, food processing, and retail. The development aims to level up the living standards of the local community by employing local personnel, providing hospitality training, imparting knowledge of agro-tech farming techniques, distributing high-yield seeds, merging agro-tech farming with local knowledge to boost harvests sustainably. The development is managed by r+, a Singapore-based company that promotes responsible living, uniting real estate, hospitality, agriculture, retail and fintech.

Hashtag: #PhillipTrustee #PhillipBank

The issuer is solely responsible for the content of this announcement.

About Phillip Trustee

Phillip Trustee (Cambodia) Co., Ltd is a newly established company that is part of the Phillip Capital Group based in Singapore and an associated company of Phillip Bank. The company currently provides trust services such as holding trust property, performing certain investment transactions if requested by clients, and acting as an intermediary for escrow trust for real estate transactions. Phillip Trustee (Cambodia) Co., Ltd is dedicated to being an active catalyst in bringing foreign investments into Cambodia by holding foreign investors’ tangible assets and enabling them to grow their businesses.