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Increase of Equity Stake in the Port Authority of Sihanoukville in Cambodia
May. 24, 2019
Increase of Equity Stake in the Port Authority of Sihanoukville in Cambodia
In May 2017, Kamigumi acquired approximately 2% of the total number of issued shares with voting rights of the Port Authority of Sihanoukville (PAS) in Cambodia. Through the recent acquisition, Kamigumi acquired approximately 11% of the issued shares of PAS to increase its equity stake in PAS, and the total number of shares that Kamigumi has acquired now stands at approximately 13% of the issued shares of PAS. The details are as follows.
PAS operates the Sihanoukville Port, the only ocean port in Cambodia, built with yen loans. The port saw an increase in annual container throughput from approximately 285,000 TEU in 2013 to approximately 543,000 TEU in 2018, an average growth rate in excess of 10%. Looking forward, the port is expected to continue to see a high rate of growth.
Kamigumi is expanding its existing operations of port terminals and looking to get involved in the operation of new port terminals in Southeast Asia. Through this increase of the equity stake in PAS, Kamigumi hopes to build a strong relationship with PAS and expand its logistics offerings in Cambodia. At the same time, Kamigumi is actively looking to build a port terminal network centered on the ASEAN region.
Details of the share acquisition
Total number of shares:9,434,916 shares (approximately 11% of the total number of issued shares
with voting rights)
Acquisition method:Over the Counter transaction with Japan International Cooperation Agency(JICA)
Overview of PAS
Adress:Sangkat No.3, Sihanoukville City, Preah Sihanouk Province, Kingdom of Cambodia
Main facilities: Container berths 400m
Multipurpose berths 330m + 200m
Conventional berths 290m
Cruise ship berths 290m
Special Economic Zone (SEZ) 70ha
Container storage capacity 8,400TEU
Empty container yard storage capacity 3,000TEU
(Reference)
Equity Participation in the Port Authority of Sihanoukville in Cambodia, released June 8, 2017