KB Kookmin bank, the biggest retail lender of the Republic of Korea, announced on December 26 that it has decided to acquire Cambodia's largest microfinance company in its latest move to bolster its presence in Southeast Asia.
Hanoi (VNA) - KB Kookmin bank, the biggestretail lender of the Republic of Korea, announced on December 26 that it hasdecided to acquire Cambodia's largest microfinance company in its latest moveto bolster its presence in Southeast Asia.
KB Kookmin's board of directors approved a plan to take over a 70percent stake in Prasac Microfinance Institution Ltd. for 603 million USD, thebank said in a statement. KB also plans to acquire the remaining 30 percentstake in Prasac within the next two years.
Prasac Microfinance Institution operates 177 outlets across thecountry and it extends small loans to local customers and receives deposits, aKB Kookmin spokesperson said.
In its earlier efforts to enter the Southeast Asian microfinancemarkets, KB invested 98 million USD to gain a 22 percent stake in Indonesia'sBank Bukopin.
Prasac, the third-biggest lender in Cambodia in terms of loans,posted a net profit of 78 million USD last year, with its return on equitystanding at 29.4 percent./.
Visiting President of the Republic of Korea (RoK) Moon Jae-in met with Cambodian Prime Minister Hun Sen on March 15 to discuss measures to intensify the friendship and cooperation between the two countries.
The Republic of Korea (RoK) and Cambodia have agreed to launch a joint feasibility study on their potential free trade agreement (FTA) in a move to promote economic ties and expand exchanges, the Korean Ministry of Trade, Industry and Energy said on November 25.
In his post on social media the same day, Hun Manet said energy companies would be able to import sufficiently from other sources to meet domestic fuel and gas demands in the country.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
Illustrative image (Photo: Internet) 
