Cellcard Reports Strong Financial Performance and Secures Funding for Continued Growth
Phnom Penh, Cambodia – [5th April 2024] – Cellcard (CAMGSM PLC.), a leading telecommunications provider in Cambodia, today released its annual report for the year ended December 31, 2023, highlighting a series of milestones achieved in 2023, solidifying its position as a key player in the Cambodian market and a champion of innovation and social responsibility.
Cellcard’s highly anticipated Initial Public Offering (IPO) on the Cambodia Stock Exchange (CSX) in June 2023 marked a significant turning point. This strategic move not only validates Cellcard’s belief in its long-term potential but also unlocks new investment opportunities to accelerate growth initiatives and create value for all stakeholders.
Cellcard demonstrated its strong financial standing throughout the year. The company successfully refinanced existing debt and secured an additional US$70 million in financing by year-end. This strategic funding includes a groundbreaking US$20 million internationally certified sustainability bond, a testament to Cellcard’s commitment to environmental and social responsibility.
Cellcard has solidified its position as the undisputed leader in Cambodia’s mobile networks, securing the title Fastest Mobile Network for two consecutive years. This recognition comes from both industry giants, Ookla and OpenSignal. Cellcard continues to be recognized for its cutting-edge technology, as evidenced by its role as the exclusive telecommunications partner for the 2023 Southeast Asian Games (SEA Games). The company remains dedicated to bridging the digital divide by strategically investing in infrastructure development to connect underserved communities.
Looking Ahead with Confidence, Cellcard’s Board of Directors is confident in the company’s future, built on a foundation of innovation, customer-centricity, and operational excellence.
Neak Oknha Kith Meng, Chairman: “This journey wouldn’t have been possible without the support and dedication of our stakeholders. Together, we have built a strong foundation for future success. I am confident that with your continued trust and collaboration, we will reach even greater heights in the years to come.”
Simon John Perkins, CEO: “Our unwavering commitment to innovation, sustainability, and community empowerment has propelled us to new heights. As we look towards the future, I am certain that our collective efforts will drive even greater success and create lasting value for our customers, partners, and communities.”