E. Sun plans to purchase stake in Cambodian bank

E. Sun Commercial Bank (玉山銀行), the banking arm of E. Sun Financial Holding Co (玉山金控), yesterday announced plans to buy a 70 percent stake in Phnom Penh, Cambodia-based Union Commercial Bank PLC (UCB) for US$69.33 million to facilitate its expansion into Southeast Asia. “We decided to buy a stake in UCB, rather than set up a branch in Cambodia after discovering that USB shares similar ideas about business development with E. Sun Bank,” E. Sun Financial president Joseph Huang (黃男州) told reporters at the Taiwan Stock Exchange. …

http://www.taipeitimes.com/News/biz/archives/2013/03/23/2003557740