Sacom expands business

The listed company Cables and Telecommunications Material Joint Stock Company (Sacom) plans to expand operations to Cambodia following approval by the Ministry of Planning and Investment.

The listed company Cables and Telecommunications Material Joint Stock Company (Sacom) plans to expand operations to Cambodia following approval by the Ministry of Planning and Investment.

The company has announced it will pay US$7.9 million for a 49% stake in Cambodian Pacific Communication services like telephone, internet and wireless in Cambodia. Do Van Trac, Sacom chairman, says the company will consider listing on a foreign stock exchange after it becomes a business group in 2008.

(Source: SGT)