SECC presents its fourth fund management licence
Hong Kong-owned Gold Whale Co Ltd on Wednesday launched its fund management business as it became the fourth company to receive such licences from the Securities and Exchange Commission of Cambodia (SECC). Speaking at the licence handover and official inauguration ceremony on Wednesday, SECC director-general Sou Socheat said Gold Whale has received three business licences from the SECC related to its fund management operations. “e fund management company has the right to raise money from the public to invest in any project, and all of its projects must first be registered with the SECC,” he said. Socheat said a fund management company refers to a business which enters into so-called “joint ventures” with public participation to fund projects and share their benefits. Gold Whale CEO and director Jones Kam-Fung Chan said the rm’s fund management business will focus on investment and generate profit for its investors. “We will focus on investments that benefit the project participants through financial restructuring, investment management, portfolio management, product development and risk management,” said Chan. After being licensed by the SECC, he said, the company seeks to invest in real estate, energy and infrastructure in Cambodia. He said the Kingdom’s economy has shown the potential for his company to help attract more investors to Cambodia. “Our company’s business will provide great assets for investors to take root in the domestic market,” he said. Socheat said four companies have received licences from the SECC as fund management companies and two others have applied. Early last month, Cambodian Investors Capital Partners Plc (CIC Capital) became the first company to receive a fund management licence from the SECC.