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Author: Sorn Chhorvyvatey

CGCC Conducted Courtesy Visits and Met the Management Team of Kampot – Kep Chamber of Commerce, Federation of Association of Small and Medium Enterprise s in Cambodia (FASMEC) in Kampot and Young Entrepreneurs Association of Cambodia (YEAC) Chapter Kampot-Kep

Posted on by Sorn Chhorvyvatey

On April 24 and April 26, 2024, CGCC team led by Mr. No Lida, Deputy CEO of CGCC conducted  courtesy visits and met the management team of Kampot – Kep Chamber of Commerce, Federation of Association of Small and Medium Enterprise s in Cambodia (FASMEC) in Kampot and Young Entrepreneurs Association of Cambodia (YEAC) Chapter Kampot-Kep.

The dialogue between CGCC and the three business associations provided the opportunity for both CGCC and the three business associations to learn about the business situation in the provinces and the challenges of the business owners in obtaining loans for working capital and business expansion through credit guarantee mechanism.

CGCC visits PFIs provincial branches in Takeo, Kep & Kampot to Enhance Collaboration on the Credit Guarantee

Posted on by Sorn Chhorvyvatey

From 22 to 24 April 2024, CGCC team led by Ms. Pin Manika, Manager of Marketing and Business Development of CGCC, visited provincial branches of selected Participating Financial Institutions (PFIs) to discuss with the management and staff of the selected PFIs regarding the implementation of CGCC’s credit guarantee schemes and to increase more awareness of the credit guarantee. The selected PFIs in 3 provinces include:

– Takeo province:  Philip, Maybank, and Prince Bank.

– Kep province: ACLEDA Bank, ABA Bank, and Sathapana Bank

– Kampot Province: Sathapana Bank  and Canadia Bank

The discussions with CGCC PFIs’ provincial branches in these 3 potential provinces provided opportunities for both CGCC and PFIs to enhance mutual understanding of credit guarantees and opportunities for PFIs to increase lending to potential borrowers that lack collateral when requesting loans.

Request for Proposal “Legal Counsel”

Posted on by Sorn Chhorvyvatey

CGCC is a state-owned enterprise, established under the technical and financial guidance of the Ministry of Economy and Finance (MEF) to provide credit guarantees based on international standards to improve financial inclusion and support the growth of SMEs in Cambodia. CGCC obtained the accreditation from the Securities and Exchange Regulator of Cambodia (“SERC”) to become the bond guarantor on 22 August 2023 (“Bond Guarantor” or “Guarantor”).

CGCC wishes to provide guarantee on bonds to be listed on the Cambodia Securities Exchange.

CGCC is seeking to engage a Cambodian legal counsel (“Legal Counsel”) to perform the services as described in the scope of work.

 

Job Vacancy with CGCC – Senior Executive/Executive of Relationship Management

Posted on by Sorn Chhorvyvatey

Credit Guarantee Corporation of Cambodia Plc. (CGCC) is a state-owned enterprise established under the Ministry of Economy and Finance. CGCC was recently set up to improve financial inclusion and develop the growth of SMEs in Cambodia. It plays an important role in the economic development of the country.

We are expanding our team! Join us, If you want to be part of the team, CGCC is urgently seeking qualified candidates for the following positions:

Senior Executive/Executive of Relationship Management:

1. Job Overview

Senior Executive of Relationship Management of the Credit Guarantee Corporation of Cambodia (CGCC) will report to the Manager of Marketing and Business Development (The “MMBD”). S/he will support the Manager of Marketing and Business Development (The “MMBD”), including develop and oversee business pipeline, project and networking activities to promote sales, products, services, customer satisfaction and PFIs awareness of CGCC.  S/he is expected to be responsible for leading and monitoring sales growth, marketing intelligence, good relations with PFIs and other stakeholders of the company.

2. Job Duties and Responsibilities:

  • S/he shall maintain a deep knowledge of company products and services.
  • S/he shall maintain and build strong networking and collaboration with CGCC’s stakeholders, including SMEs, FIS, associations, and governmental institutions, to assist the development of SMEs.
  • S/he shall monitor and analyze sales trends and recommend marketing activities to achieve sales targets.
  • S/he shall conduct market research and analyze market data to pursue new business opportunities.
  • S/he shall provide stakeholders with comprehensive product/service consultations and guide their decision-making process.
  • S/he shall upsell and cross-sell products/services.
  • S/he shall resolve complaints and issues efficiently and in a timely manner.
  • S/he shall ensure sales/revenue targets and customer satisfaction.
  • S/he shall conduct product training for internal colleagues and external stakeholders.
  • S/he shall perform other tasks assigned by management.

3. Qualification:

  • A minimum of bachelor’s degree holder in Economics, Finance, Business, Management, Public Administration, or other related fields.
  • At least 3 years working experiences in marketing, strategy, sales, business development in financial and/or banking sector.
  • Proven skills in strategy, coordination, communication, interpersonal.
  • Ability to work effectively as a team and individual with a sense of responsibility, flexibility, adaptability, and willingness to learn.
  • Ability to prioritize tasks effectively, maintain timelines, and manage/plan workloads effectively.
  • Strong verbal and written communication skills in both Khmer and English.
  • Competence in Microsoft Office Software.
  • Knowledge in research and data analysis is a plus.

Job Vacancy with CGCC – Senior Manager/Manager of Business Development (Bond Guarantee)

Posted on by Sorn Chhorvyvatey

Job Overview

The Senior Manager/Manager of Bond Guarantee Business of the Credit Guarantee Corporation of Cambodia (CGCC) will report to the Head of the Strategy and Business Development Department on CGCC’s bond guarantee matters.

Job Description

  • Assist the Head of the Strategy and Business Development Department in strategic planning to develop and execute CGCC’s bond guarantees.
  • Originate and structure new guaranteed bond transactions.
  • Process new CGCC-guaranteed bond transactions, including preparing documentation, conducting due diligence by collaborating with relevant CGCC departments, and seeking approval from CGCC’s management.
  • Oversee performance and monitoring of guaranteed bond and recommend any remedial actions.
  • Support and assist the Head of SBD on any bond guarantee-related matters involving ministries, regulators, and other public institutions.
  • Develop close working relationships with securities companies, potential issuers, and bond investors to expand CGCC’s bond guarantee opportunities.
  • Develop close working relationships with CGCC’s international partners regarding bond guarantees.
  • Perform any other roles and responsibilities as assigned by management periodically.

Qualification

  • A minimum of a master’s degree in economics, finance, business, or a related field.
  • At least five years of working experience in the banking or securities sectors, particularly in bond underwriting, credit operation, or risk management.
  • Strong analytical and strategic thinking skills.
  • Proven coordination, communication, interpersonal and diplomatic skills.
  • Ability to work effectively as a team with a sense of responsibility, flexibility, adaptability, and ability to learn and work under pressure.
  • Ability to prioritize tasks effectively, maintain timelines, and manage/plan workloads effectively.
  • Strong verbal and written communication skills in Khmer and English.
  • Competence in Microsoft Office Software.

CGCC 1st Town Hall Meeting 2024 on “Milestones in Q1 2024 and Strategy Plan in Q2 2024”

Posted on by Sorn Chhorvyvatey

On 11 April 2024, CGCC organized the Quarterly Town Hall meeting, a gathering of all management and CGCC staff to update on the progress and milestones of CGCC in the 1st quarter of 2024 as well as share the strategy and action plans of all respective departments of the 2nd quarter of 2024.

This Town Hall Meeting was attended by all management and staff and was not only to share the progress report and plans from all departments but also for a dialogue platform to openly discuss and obtain recommendations from management on the direction of CGCC’s operations and vision in improving financial inclusion and developing SMEs in Cambodia. 

 

CGCC participating in UNDP Cambodia Investor Convening

Posted on by Sorn Chhorvyvatey

On 08 April 2024, Mr. Wong Keet Loong, CEO of CGCC was invited to be a panelist at the “Investor Convening Event for the Growth Stage Impact Venture Program in Cambodia” to share CGCC’s initiative in enabling the financing environment for private sector development Cambodia in the panel discussion focusing on “Investment landscape in Cambodia Specifically in Climate Adaptation”.

Through this panel discussion, Mr. Wong shared the government’s support mechanism for the private sector in access to finance through CGCC credit guarantee for businesses, especially green sector businesses. He also highlighted the Sustainable Green Financing Facility of CGCC, which is a blended financing model developed with support from UNDP to increase CGCC’s guarantee capacity for the green sector.

This UNDP Cambodia Investor Convening event aims to raise public and private sector interest and awareness around climate-anchored market solutions and investments, and also serve as a platform to mobilize and channel private sector capital and blended financing towards climate change adaptation and to diversify sources of climate financing by capitalizing on existing market opportunities.

CGCC and Royal Group Securities Plc. (RGS) Signed a MoU to Strengthen Cooperation on Bond Guarantees to Support the Bond Market Development in Cambodia

Posted on by Sorn Chhorvyvatey

On 5th April 2024, Credit Guarantee Corporation of Cambodia (CGCC) and Royal Group Securities Plc. (RGS) signed a Memorandum of Understanding to strengthen cooperation on bond guarantees to support the bond market development in Cambodia witnessed by H.E. Sou Socheat, Delegate of the Royal Government of Cambodia in charge as Director General of Securities and Exchange Regulator of Cambodia (SERC), and highly attended by H.E. Hong Sokhour, Delegate of the Royal Government of Cambodia in charge as Chief Executive Officer of Cambodia Securities Exchange (CSX).

CGCC officially became the First Cambodian Bond Guarantor on 31 January 2024 after getting approval from H.E. Deputy Prime Minister, Minister of Economy and Finance on the Policy Framework on Bond Guarantee, accredited by the SERC as the first local bond guarantor, and rated khAAA, the highest rating on a local scale, by the Rating Agency of Cambodia.

Mr. Wong Keet Loong, Chief Executive Officer of CGCC, said, “CGCC has been accredited by the SERC to be the bond guarantor for corporate bonds listed on the CSX.  This partnership with RGS will enable us to be part of the structuring of bonds between the Issuers and Investors.  The guarantee for corporate bonds enhances the credit rating of the bond issuance, which adds confidence to investors.  CGCC, as a state-owned enterprise under the Ministry of Economy and Finance (MEF), will support SERC’s aspirations to develop the capital market to enable large businesses to source for funding by issuing bonds. With the bond guarantee, we hope to attract both local and foreign institutional investors to invest in the guaranteed bonds.”

Mr. Seng Chan Thoeun, Chief Executive Officer of RGS, said, “I am pleased to announce our strategic partnership with CGCC, aimed at enhancing debt capital raising through bond guarantee in Cambodian capital market by the state-owned corporate bond guarantor. This collaboration represents a significant milestone in our commitment to foster growth and trust within the financial sector. By leveraging our expertise and resources as a well-established securities firm, RGS will collaborate and support CGCC in providing guarantee to our local businesses, enhanced assurance to investors, thereby increasing confidence in bond offerings. Our joint effort will also enable us to offer more favorable terms and conditions to issuers, facilitating access to capital and promoting greater participation in the market. Ultimately, we believe this partnership will play a pivotal role in stimulating economic growth and development by providing a robust environment for capital formation and investment.”

The partnership between CGCC and RGS will play a significant role in supporting Cambodia’s sustainable economic development by collaborating in knowledge and resource sharing between the two institutions to develop bond guarantees that will support bond issuers in raising funds in capital markets, attract investors to invest in corporate bonds, and increase the bond market’s liquidity.

About CGCC

CGCC is the only credit guarantee corporation in Cambodia, established by the decision of Samdech Akka Moha Sena Padei Techo Hun Sen, as a state-owned enterprise under the technical and financial guidance of the Ministry of Economy and Finance. The primary mission of CGCC is to provide credit guarantees to improve financial inclusion and support the growth of SMEs in Cambodia.

About RGS

Royal Group Securities Plc. (RGS) is a full-licensed securities firm under the supervision of Securities and Exchange Regulator of Cambodia. RGS offers a wide range of professional financial services including capital raising, M&A, capital restructuring, stock trading, international stock investment, equity valuation, co-investment and financing, and more. RGS is the sole financial advisor and underwriter of all bonds issued in 2023 and subsequently listed on Cambodia Securities Exchange. In the second half of 2023, the company raised over USD 100 million for local businesses through IPO, bonds, and loan.

 

 

CGCC Attended the Regional Workshop on Strengthening Regional Partnerships for Climate Transition.

Posted on by Sorn Chhorvyvatey

On the 26th & 27th March 2024 in Bangkok, Thailand, CGCC Delegation, led by Mr. Wong Keet Loong, CEO of CGCC attended the Regional Workshop on Strengthening Regional Partnerships for Climate Transition.

Mr. Wong Keet Loong was also invited to share on CGCC’s Sustainable Green Financing Facility, a blended financing model developed together with support from UNDP to increase our guarantee capacity for the Green sector.