Mega-bank joins forces with Canadia

CANADIA Bank and Japan-based Tokyo-Mitsubishi UFJ signed a memorandum of understanding (MoU) on Wednesday agreeing to work together to tap the flow of Japanese investors into the Kingdom. The MoU was signed by Canadia Bank chief executive officer Michael Lor and Masato Miyachi, the general manager of Tokyo-Mitsubishi’s Asia and China division in Phnom Penh. Pung Kheav Se, chairman of the board of directors of Canadia Bank, said the MoU would enhance bank co-operation for mutual benefit and give Japanese investors in Cambodia greater access to investment information. … Japanese investment in Cambodia more than doubled to $75 million in 2011 from about $35 million in 2010, according to figures supplied by the Japanese embassy.