MIRA INFORM REPORT

 

 

Report Date :

07.03.2013

 

IDENTIFICATION DETAILS

 

Name :

CAMGSM CO LTD

 

 

Registered Office :

33 Preah Sihanouk Blvd Sangkat Chey Chum Neas, Khan Daun Penh, Phnom Penh 12207

 

 

Country :

Cambodia

 

 

Date of Incorporation :

20.06.1996

 

 

Legal Form :

Company Limited

 

 

Line of Business :

Providing Telecommunications Service

 

 

No. of Employees :

500

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Cambodia

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CAMBODIA - ECONOMIC OVERVIEW

 

Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. GDP climbed more than 6% per year between 2010 and 2012. The garment industry currently employs more than 335,000 people and accounts for more than 75% of Cambodia's total exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a potential revenue stream for the government, if commercial extraction becomes feasible. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems. The tourism industry has continued to grow rapidly with foreign arrivals exceeding 2 million per year since 2007. Cambodia, nevertheless, remains one of the poorest countries in Asia and long-term economic development remains a daunting challenge, inhibited by endemic corruption, limited educational opportunities, high income inequality, and poor job prospects. Approximately 4 million people live on less than $1.25 per day and 37% of Cambodian children under the age of 5 suffer from chronic malnutrition. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the impoverished countryside, which also lacks basic infrastructure. The Cambodian government is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs; more than 50% of the government budget comes from donor assistance. The major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance.

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

 

Organization Name

:

CAMGSM CO LTD(1)

Address

:

33 Preah Sihanouk Blvd Sangkat Chey Chum Neas, Khan Daun Penh, Phnom Penh 12207

Country

:

Cambodia

Phone (S)

:

[+855] 12-800800

Facsimile

:

[+855] 12-801801

Email

:

helpline@mobitel.com.kh

Website

:

http://www.cellcard.com.kh

Primary Business Activity

:

Service

Key Industry

:

Telecommunications

 

Key Facts

 

Registered Legal Address

:

33 Preah Sihanouk Blvd Sangkat Chey Chum Neas, Khan Daun Penh, Phnom Penh 12207

Operational Address

:

33 Preah Sihanouk Blvd Sangkat Chey Chum Neas, Khan Daun Penh, Phnom Penh 12207

Trading Name

:

MOBITEL

Issuing Authority

:

Ministry of Commerce - Commercial Registry

License Number

:

INV.231/96

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Normal

Date of Registration

:

20 Jun, 1996

Employees

:

500

Capital

:

US$ 5,001,000

Note

:

(1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

Report Details

 

 

 

 

Country

:

Cambodia

Business Entity Name

:

CAMGSM CO LTD

Primary Business Activity

:

Service

Primary Industry

:

Telecommunications

Office Contact Details

Operating Address

:

33 Preah Sihanouk Blvd Sangkat Chey Chum Neas, Khan Daun Penh, Phnom Penh 12207

Tel

:

[+855] 12-800800

Fax

:

[+855] 12-801801

Email

:

helpline@mobitel.com.kh

Postal Details

P.O. Box

:

2468

Website Details

Website

:

http://www.cellcard.com.kh

Status

:

Normal - operational

Country of Registration

:

Cambodia

Ownership Type

:

Registered ownership by Subject Business Entity

 

 

DIRECTORS/MANAGEMENT

 

COMPANY MANAGEMENT

 

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Ian Watson

British

Chief Executive Officer - CEO

-

 

Management Details - 1

Personal Unique Identifier

:

MI03396021

Name

:

Mr. Ian Watson

 

 

 

LOCAL BRANCHES & MANAGEMENT

 

Branch

:

CAMGSM CO LTD - BATTAMBANG

Branch Address

:

131-133 St 3, Battambang

Branch Tel

:

855-12-272777

Branch Fax

:

855-53-953607

Branch Email

:

mtfbtb@mobitel.com.kh

 

Branch

:

CAMGSM CO LTD - SIHAKNUK VILLE

Branch Address

:

265 St Eak Reach SangKat II Khant Mithapheap, Sihaknuk Ville

Branch Tel

:

855-12-340222

Branch Email

:

lim.yiv@mobitel.com.kh

 

Branch

:

CAMGSM CO LTD - KOMPONG CHHAM

Branch Address

:

15EO St 8 SangKat II, Kompong Chham

Branch Tel

:

855-12-339999

Branch Email

:

np99@mobitel.com.kh

 

Branch

:

CAMGSM CO LTD - SIEM REAP

Branch Address

:

50 Sivatha St, Siem Reap

Branch Tel

:

855-12-829909

Branch Fax

:

855-63-966699

Branch Email

:

franchise_srp@mobitel.com.kh

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03396021

Name

:

Mr. Ian Watson

Nationality

:

British

 

2

 

 

Personal Unique Identifier

:

MI01830984

Name

:

Okhna Kith Meng

Nationality

:

Cambodian

 

Key Person

Legal Title

:

Chairman

Name

:

Okhna Kith Meng

Nationality

:

Cambodian

 

NEGATIVE INFORMATION

 

REPUTATION

 

Reference checking for the purpose of establishing the CAMGSM CO LTD's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: USD - US Dollar)

Authorized Capital

:

5,001,000

Date

Authorized Capital - History

20 Jun, 1996

5,000,000

2012

5,001,000

 

SHAREHOLDERS

 

Total number of shareholders

:

2

Total number of shares

:

5,001

 

Currency

:

USD - US Dollar

 

No.

Shareholders

Country

Shares

Number

Amount (USD)

%

1

ROYAL MILLICOM CO LTD

Cambodia

5,000

n/a

99.98

2

STANDARD BANK PLC

n/a

1

n/a

0.02

Total

5,001

n/a

100.00

 

 

PAYMENT INFORMATION

 

PAYMENT TERMS

 

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

 

Direct Parent

:

ROYAL MILLICOM CO LTD

Global Identifier

:

P2527091

Legal Form Category

:

Private Company with Limited Liability

Country

:

Cambodia

 

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

 

The following provides a summary of the number of businesses that are related to CAMGSM CO LTD:

 

TYPE

DOMESTIC

TOTAL

Affiliate

3

Joint-Venture

-

Minority shareholding

-

Subsidiary

1

 

 

Domestic

 

Business Entity Name

:

BELL HELICOPTER CO LTD

Global Identifier

:

P1038414

Country

:

Cambodia

Relationship

:

Affiliate

Operational Address

:

246 Monivong Blvd, Phnom Penh

Primary Business Activity

:

Service

Industry

:

Telecommunications

 

 

 

Business Entity Name

:

FINE STAR LTD

Global Identifier

:

P0806362

Country

:

Cambodia

Relationship

:

Affiliate

Operational Address

:

14 Bist St 430 Sangkat Phsar Doeum Thkov, Khan Chamcarmon, Phnom Penh 12307

Primary Business Activity

:

Trader

Industry

:

Consumer Products

 

 

 

Business Entity Name

:

ROYAL CAMBODIA CO LTD (SAMSUNG)

Global Identifier

:

P0102543

Country

:

Cambodia

Relationship

:

Affiliate

Operational Address

:

246 Preah Monivong Blvd, Phnom Penh

Primary Business Activity

:

Importer

Industry

:

Electronic Products & Components

 

 

 

Business Entity Name

:

TELESURF

Global Identifier

:

P0227224

Country

:

Cambodia

Relationship

:

Subsidiary

Operational Address

:

33, 274 Sihanouk St, Phnom Penh 12207

Primary Business Activity

:

Service

Industry

:

Computer & Information Products

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2001

 

48,916,675

n/a

8,276,809

2002

 

55,207,422

53,342,699

10,742,007

2003

(*)

69,997,554

70,114,543

10,980,589

 

Sales Trend – Analysis

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

-

-

-

-

-

-

-

-

Note: (*)

Financials listed are the most recent available for this company.

 

 

FINANCIAL STATEMENT - DETAILED

 

Balance Sheet

Currency

:

USD

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2001 Annual

2002 Annual

2003 Annual

Current Assets

-

18,048,123

26,965,670

Non Current Assets

-

35,294,576

43,148,864

Non Current Liabilities

-

2,717,040

2,200,000

Share Capital

-

5,000,000

5,000,000

Other long term assets 

Total Assets

-

53,342,699

70,114,543

Total Liabilities

-

40,209,892

53,501,138

Current Liabilities

-

37,492,852

51,301,138

Long term liabilities 

Shareholders Funds

-

13,132,807

16,613,396

 

Income Statement

 

Currency

:

USD

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2001 Annual

2002 Annual

2003 Annual

Turnover

48,916,675

55,207,422

69,997,554

Profit (Loss) Before Tax

10,365,742

13,427,509

13,762,671

Profit After Tax attributable to Shareholders

8,276,809

10,742,007

10,980,589

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

International roaming

Service

Internet access

Service

Internet solutions

Service

Mobile phone services

Service

Mobile services

Service

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Communications Svcs, NEC

4899

Service

Computer Related Svcs, NEC

7379

Service

Other communications equipment, nspf, and parts, nspf

3669

Trading

Phone Communications

4813

Service

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Computer related services, nec

9923

Service

Electrical machinery & equip. & parts; telecommunications equip., sound recorders, television recorders

8500

Trading

Telecommunications carrier

9965

Service

Telecommunications installation

9963

Service

Telecommunications maintenance

9964

Service

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

Products / Materials / Services Description

Ranking

Activity

Mobile telecommunications

Primary

Service

Multimedia

Primary

Service

Telecommunication operators

Primary

Service

Telecommunication services

Primary

Service

Voice communications

Primary

Service

Wireless service provider

Primary

Service

Pre-paid cards

Secondary

Trading

 

CORE BUSINESS DESCRIPTION

 

Core Business

The primary business focus of CAMGSM CO LTD is Specialized professional services, including:

  • International roaming
  • Internet access
  • Internet solutions
  • Mobile phone services
  • Mobile telecommunications
  • Multimedia
  • Telecommunication operators
  • Telecommunication services
  • Voice communications


Key services include :

  • Internet access
  • International roaming
  • Internet solutions
  • Mobile phone services
  • Mobile services
  • Mobile telecommunications
  • Multimedia
  • Telecommunication operators
  • Telecommunication services
  • Voice communications
  • Wireless service provider

 

 

Supplementary Business

In addition to the core business, CAMGSM CO LTD also is engaged in the following areas of business:

  1. Trading
    • Trading - Finished products

 

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

 

Annual Purchases Analysis

Percentage

Local Purchases

100%

 

 

BRANDS & TRADEMARKS

 

Brands & Trademarks

Application Category

CAMGSM

n/a

Cellcard

n/a

 

COMPETITORS

 

The following is a representative list of local competitors:

Competitors

CAMBODIA SAMART COMMUNICATION CO LTD

CAMBODIA SHINAWATRA CO LTD

NET I SOLUTIONS CO LTD

ROYAL TELECAM INT'L CO LTD

TELECOM CAMBODIA

 

OFFICE & FACILITIES

 

Name

:

CAMGSM CO LTD - KHAN DAUN PENH, PHNOM PENH

Type of Location

:

Commercial

Address

:

33 Preah Sihanouk Blvd Sangkat Chey Chum Neas, Khan Daun Penh, Phnom Penh 12207

Country

:

Cambodia

Ownership of Property

:

Rented / Leased

Status

:

Operational

 

COMPANY HISTORY

 

Date

Details

2006 - Jun

Established as a joint venture between the Luxembourg based MILLICOM INTL CELLULAR SA with 61.5% share and CAMBODIAS ROYAL GROUP OF COMPANIES with 38.5% share.

 

 

NOTES & COMMENTS

 

N/a

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.71

UK Pound

1

Rs.82.79

Euro

1

Rs.71.43

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.