Cambodia's state-owned telecom firm gets new chief, vowing to improve business operations, revenues
PHNOM PENH, Mar 18, 2013 (Xinhua via COMTEX) --
General of the state-owned Telecom Cambodia (TC) Kim Vikra vowed
Monday to enhance the enterprise's governance in order to improve
business operations and revenues. "I am committed to working with
all colleagues in order to lead the enterprise to progress,"he
said at his official appointment ceremony."I will enhance the
firm's governance through improving accountability, transparency
and high responsibilities."
He also vowed to strengthen service quality, competition and
human resources for staff. The TC has only 39,000 fixed phone
service users and about 3,500 internet service users, according to
the firm's report released last week.
Its revenues come from local and international phone calls,
internet service providers, Asymmetric Digital Subscriber Line
services (ADSL), phone connection, fiber optic cable,
interconnection fees and transit fees.
Kim Vikra succeeded the firm's ex-director general Lao Sareoun,
who was removed from the post on Feb. 14 after more than 300 staff
staged a protest, claiming that millions of dollars had gone
missing from the company's accounts and calling for Lao Saroeun to
However, at a ceremony on Monday, Lao Sareoun was promoted as
undersecretary of state at the Ministry of Posts and
Speaking at the ceremony, minister of posts and
telecommunication So Khun advised the TC's new chief to stick to
good governance and transparency in order to bring the firm to
TC is one of the state-owned enterprises that plan to list on
the Cambodia Securities Exchange (CSX). However, the listing plan
will be postponed indefinitely due to poor financial performance,
Sarak Khan, secretary of state at the Ministry of Posts and
Telecommunication told the ministry's annual meeting last week.
He said the firm had subsequently lost over the last five
years, saying that in 2012, the TC, which provides fixed phone and
internet services, made losses of 10.2 million U.S. dollars, and
in 2011 the company lost 14.4 million U.S. dollars.
According to the rule by the Securities and Exchange Commission
of Cambodia, any company wants to list on the stock market, it
must see a net profit in the last three years.
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