CAMGSM PLC., commercially known as Cellcard, a proud member of the Royal Group of Companies, a leading Cambodian telecommunications provider, today announced a significant investment of $180 million in network expansion for 2024. This expansion is driven by Cellcard’s commitment to providing wider network coverage and serving underserved communities across Cambodia.

The network expansion plan was approved by the Council for the Development of Cambodia (CDC) and reflects Cellcard’s strategic focus on utilizing its recently obtained sustainability financing to achieve long-term growth and positive social impact.

“This $180 million investment underscores Cellcard’s unwavering commitment to Cambodia’s digital development,” said Simon Perkins, CEO of Cellcard. “By expanding our network and focusing on the underserved communities, we aim to empower all Cambodians with the connectivity they need to thrive in the digital age.”

Cellcard, a key player in the Royal Group of Companies, is also hosting its first Annual General Meeting (AGM) on June 28th, 2024. This landmark event signifies Cellcard’s commitment to transparency and shareholder engagement. Key decisions on the agenda include:

Distribution of Guaranteed Minimum Dividend: Shareholders will vote on the distribution of a guaranteed minimum dividend until the next general meeting.

Issuance of Additional Equity Securities: A proposal for the issuance of additional equity securities at the Stock Exchange of Thailand (SET) will be considered.

Amendment of Articles of Incorporation: Shareholders will vote on proposed amendments to the Articles of Incorporation dated March 13th, 2023.