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Wed, 9 December 2020
The National Bank of Cambodia (NBC) has given the approval in principle to Malaysian-listed G Capital Bhd for the establishment of a full-fledged commercial bank under the name “Oriental Bank Plc” in the Kingdom.
This comes with an approved capital of $100 million, G Capital said in a statement on December 8.
It said it has entered into a heads-of-agreement contract with local firm E S Packaging Co Ltd and Public Bank Bhd’s former Indo-China operations regional head Phan Ying Tong to collaborate on the venture, Malaysian media outlet The Edge Markets reported.
In a filing to the Bursa Malaysia, G Capital said: “Specifically, the heads of agreement has been structured to outline the preliminary undertakings and obligations of the parties with a view to enter into legally binding definitive agreement between the parties to establish ‘Oriental Bank Plc’.” ....

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