PAS reported a strong 15.6 per cent year-on-year rise in net revenue in the fourth quarter to $2.718 million, from $2.349 million. Heng Chivoan
Japan has provided a 1.132 billion yen grant ($10.8 million) to Cambodia for the implementation of a Vessel Traffic System (VTS) at the Kingdom’s flagship deep-sea port in Preah Sihanouk province to perk up maritime safety and efficiency, according to the Japanese embassy in Cambodia on March 1.
Minister of Foreign Affairs and International Cooperation Prak Sokhonn and Japanese ambassador Masahiro Mikami on March 1 signed and exchanged notes concerning the official development assistance grant aid.
The grant came in response to a government request and is provided with a view to strengthening friendly and cooperative relations between Japan and Cambodia, the embassy said in a statement.
“It is expected that safety measures at the Sihanoukville port, the social and economic development of Cambodia and connectivity within the Mekong region will be improved as a result of this project,” the embassy said.
As Cambodia presses on with economic development, it is paramount that the quality of life of Cambodians improves in tandem, the embassy said, adding that Japan wishes to maintain its support to government efforts and will implement a wide array of socio-economic development schemes to back up its claims.
The ministry said in a press release that the grant will significantly contribute to the promotion of socio-economic in Cambodia and will further expand the friendship and cooperation between the two countries.
Cambodia Logistics Association (CLA) president Sin Chanthy told The Post that the aid would help improve services at the Sihanoukville port, which frequently faces acute traffic congestion.
He said his association has asked Lou Kim Chhun, director-general of the deep-sea port’s stock-listed operator Sihanoukville Autonomous Port (PAS), to set up a digital vessel performance monitoring system.
This, Chanthy said, would alleviate some of the freight congestion issues and provide the logistics and transport sector convenient access to accurate and timely data.
“This system will allow us to get accurate information when a ship is late, delayed or cancelled. It’ll be easier for us to prepare the documents needed for clearance.
“The more time we spend, the higher the costs, so I hope this round of assistance will be of help in this area,” he said.
Logistics Business Association (LOBA) president Chea Chandara voiced his expectation that this financing would provide the wherewithal needed for the Kingdom to expand its container storage capacity and import the Lift-On Lift-Off (LOLO) cargo handling equipment required to lighten traffic congestion at the port.
“The aid will help reduce the congestion of containers at the Sihanoukville port, and bring the calibre of the port to whole new heights,” he said.
In a recent filing to the Cambodia Securities Exchange, state-owned PAS reported a strong 15.6 per cent year-on-year rise in net revenue in the fourth quarter to $2.718 million, from $2.349 million.
However, the deep-sea port operator posted a 7.59 per cent year-on-year dip in sales revenue.
