Hong Leong Bank (Cambodia) Plc (HLBCAM) on April 29 said it was teaming up with SME Association of Malaysia on knowledge and expertise sharing and the creation of advisory and business matching opportunities to stimulate growth of smaller Cambodian businesses and open doors for business and investment activities between the Kingdom and Malaysia.
A memorandum of understanding (MoU) was signed to this effect on April 28 by HLBCAM managing director and CEO Terrence Teoh and SME Association of Malaysia national president Ding Hong Sing, to spur cooperation and support growth of small- and medium-sized enterprises (SME) in Cambodia, HLBCAM said in a press release.
The signing was witnessed by Malaysian ambassador to Cambodia, Eldeen Husaini Mohd Hashim, and Cambodian ambassador to Malaysia, Cheuy Vichet.
“We share the same goal as Cambodia in spurring the enterprise spirit and boosting economic development. Through this MoU, I believe our joint capabilities and deep insights of both markets can help our Cambodian and Malaysian SME customers navigate mutual business matching opportunities, alongside helping them connect with a broader range of business and financial solutions, especially in digital innovation to drive business performance and greater sustainability,” Teoh said in the release.
Ding said in the release that the deal would boost cooperation. “Our aim is to share industry expertise and know-how through study visits, workshops, and seminars with relevant business partners.
“By combining forces, we can help SMEs realise their full potential and harness opportunities between the growing Cambodian and Malaysian SME sectors,” he was quoted as saying.
