Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Wednesday, February 26 2020 - 23:29
PLMP Fintech's Venture Capital entity secures Fund Management licence to bring blockchain to over 10,000 SMEs in 10 years
PHNOM PENH, Cambodia, Feb. 26, 2020 /PRNewswire-AsiaNet/ --

The local investment arm of Singaporean blockchain firm PLMP Fintech, PLMP 
Venture Capital, has been awarded today an Asset and Fund Management licence by 
the Securities and Exchange Commission of Cambodia (SECC). The move is part of 
the company's ten-year target to incubate more than 10,000 SMEs through 
blockchain solutions and networking opportunities.

"We have a diversified portfolio of technological, real estate and financial 
projects that are already in the works," says PLMP Fintech Co-Founder Peter Lim 
citing the examples of the Creatanium Smart City and the ongoing integration of 
Indonesia's logistics sector with the firm's own blockchain protocol.

In the words of Kym Kee, Managing Director of PLMP Venture Capital, "The 
licence will open the doors to institutional and high-net-worth investment as 
we plan for the Creatanium Silicon Valley." With a projected value of US$5 
Billion to be achieved in the span of ten years, once completed, the project 
would become Cambodia's first Technology Park to house SMEs and start-ups in 
emerging technologies such as AI, robotics and cybersecurity through blockchain.

Asset and Fund Management is just the first step of PLMP Fintech's vision to 
play a major role in the development of Cambodia's SME sector. The firm is in 
the midst of acquiring a Specialized Bank licence to launch public, private and 
online services and provide business loans and micro-loans through digital 
collaterals. Counting on all three segments will grant the flexibility to cater 
for established companies and institutions while developing new products for 
the significant number of local entrepreneurs that are still unbanked.

In the same framework, PLMP Venture Capital together with its partner CSME will 
be hosting regular events to showcase innovative SMEs from the region and give 
them the chance to increase their visibility in front of top industry leaders 
and potential investors. The two firms will be the sponsors behind this April's 
edition in Phnom Penh of the Startup World Cup, a global competition that will 
award the best project with a US$ 1,000,000 funding grant.
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