A 30 percent stake in financial services firm Cambodian Investment Management (CIM) and its related group companies has been purchased by Tanncam Investment Company, an Uzbeki-owned investment company registered in the Kingdom, according to a CIM press release.
CIM and its subsidiaries and affiliates – Cambodian Investment Management Insurance Agent, Premium Human Resources, Dynamo Innovative Digital Advertising, and Phnom Penh BG Serviced Offices – will receive equity financing from the transaction.
“Our group business has evolved into a full-service model beginning with customer market entry right through to servicing customer’s continuing operations and supporting their growth,” said CIM CEO Anthony Galliano.
CIM is a Cambodian subsidiary of Indonesia-based PT Covenant International Management. Tanncam’s capital investment is to be allocated to CIM’s accounting, tax and human resources arms, and to facilitate the group’s expansion into new markets, according to Galliano.
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