AMK Microfinance Institution Plc. Invested US$1 Million in the CAIC Bond to Support the Construction and Development of Techo International Airport
AMK Microfinance Institution Plc. invested US$1 million on 6th May 2022 in the Techo International Airport Guaranteed Bond through private placement.
The funds raised from Techo International Airport Guaranteed Bond will be used for the construction and development of Techo International Airport in Kandal province. Techo International Airport project is currently 32% completed with a total amount of US$444 Million (excluding airport land) already invested by CAIC. The coupon rate of CAIC bond is 5.5% per annum with 3 years tenor and guaranteed by OCIC.
Mr. Kea Borann, CEO of AMK Microfinance Institution Plc, said that “at AMK, we are proud to be the first Microfinance Institution to invest in the Techo International Airport Guaranteed Bond, and support the development of this project, which will drive economic growth and development in Cambodia.”
OCIC is the largest investment group and local conglomerate in Cambodia. The company’s core expertise is in infrastructure development, real estate, construction, property management, education, medical, shopping mall, hotel, rice mill, manufacturing etc with notable projects such as Techo International Airport, Diamond Island City, Norea Island, Chroy Changvar Satellite City and Olympia City Complex.
CAIC is a joint venture between the Royal Government of Cambodia (RGC) represented by the State Secretariat of Civil Aviation and OCIC. The RGC has granted CAIC the rights to own, design, construct, finance, operate, maintain and manage Techo International Airport Project.
AMK is one of Cambodia’s leading MFIs in term of outreach. AMK has 150 operating branches, and nearly 7,000 agents nationwide. AMK provides a wide variety of products and services including Loans, Deposit, Money Transfer, and Micro Insurance (focus on health and accident), Bills Payment Services, Payroll, Leasing, ATMs, and CDMs, especially the Mobile Banking App which can pay for water, electricity, garbage, top-up phone cards, and pay bills by scanning KHQR, transferring money between other local banks with Bakong and many other services.