Singapore’s Phillip Capital acquires Malaysian-owned Cambodian bank

The Singapore-based Phillip Capital Group has purchased a Malaysian-owned Hwang-DBS Commercial Bank in Cambodia for 40 million U.S. dollars and rebranded it as Phillip Bank on Thursday, a bank’s chief said. Phillip Bank’s chairman Lim Hua Min said the Phillip Capital Group, which is an Asian financial service provider, acquired the bank in March this year after Hwang-DBS (Malaysia) Bhd decided to exit its business in Cambodia. …

Shanghai Daily News Staff
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