Phnom Penh, Cambodia, October 18, 2024 – Export-Import Bank of Malaysia Berhad (“EXIM Bank Malaysia”) announced the signing of a USD19.97 million financing agreement with Global Tower Corporation Pty Ltd (“GTC”), a key player in telecommunications infrastructure services. A 75%-owned subsidiary of Rohas Tecnic Berhad, GTC is a prominent independent tower company licensed by the Telecommunication Regulator of Cambodia for the Construction and Operation in the Provision of Telecommunication Tower Services in the Kingdom of Cambodia. Rohas Tecnic Berhad and its subsidiaries (“RTB Group”) are a Malaysia-based group involved in regional utility infrastructure markets primarily in the Power and Energy, Telecommunication, and Water and Sewage. RTB Group is the market leader in the manufacturing of steel lattice towers and monopoles for power transmission and telecommunications in Malaysia, as well as in the provision of full turnkey solutions in Engineering, Procurement, Construction and Commissioning (“EPCC”) projects both in Malaysia and other countries in the region.

This financing will support the construction of over 400 telecommunication towers across Cambodia, enhancing the country’s network coverage, particularly the underserved areas in both urban and rural areas.

This financing is part of EXIM Bank’s commitment to support the global expansion of Malaysian businesses such as RTB Group, especially in high-growth markets like Cambodia. In 2023, Malaysia’s exports to Cambodia were valued at USD540 million, while imports stood at approximately USD133 million. The strong bilateral trade relationship underscores the importance of strategic investments, such as this project, in facilitating further business expansion and infrastructure development between the two nations. By partnering with GTC and RTB Group, EXIM Bank reinforces its role as a catalyst for Malaysian businesses pursuing growth opportunities abroad, while contributing to the development of critical infrastructure in the ASEAN region.

EXIM Bank’s Acting President and Chief Executive Officer, Nurbayu Kasim Chang said: “We are proud to support GTC and RTB Group in this vital telecommunications project, which not only strengthens Cambodia’s infrastructure but also creates growth opportunities for Malaysian companies abroad. Our financing of USD19.97 million reflects our confidence in GTC’s capabilities and our commitment to fostering long-term partnerships that align with Malaysia’s export agenda.”

Amirul Baharom, Chairman of GTC and RTB Group Chief Executive Officer, stated, “This partnership with EXIM Bank reinforces GTC’s commitment to improving Cambodia’s telecommunication infrastructure, with the aim of bridging the connectivity gap, particularly in rural areas. By leveraging this collaboration, we are not only enhancing connectivity but also solidifying GTC’s position as a major player in this sector. We are confident that this initiative will contribute positively to Cambodia’s socioeconomic growth.”

Besides the attendance of His Excellency Shaharuddin Bin Onn, the Malaysian Ambassador to Cambodia and Sokharath Penh, Director of Bureau of the Telecommunication Regulator of Cambodia, the signing event also saw the presence of EXIM Bank’s Chairman, Dato’ Charon Mokhzani and Chief Business Officer, Faizah Mustapa, GTC Director, Subhash Devan, RTB Group’s Chief Financial Officer, Eric Ong, and members of senior management of Mobile Network Operators in Cambodia. 

As one of the fastest-growing economies in the ASEAN region, Cambodia presents considerable opportunities for sectors like telecommunications, infrastructure, and green technology. EXIM Bank views Cambodia as a strategic market with strong potential for Malaysian exporters. The country’s focus on improving its infrastructure and telecommunications sector presents a conducive business environment for expansion.

With growing urbanisation, rising demand for digital services, and ongoing Cambodian Government efforts to enhance connectivity, EXIM Bank is optimistic about the continued opportunities available in Cambodia, particularly for Malaysian companies in telecommunications, technology, and renewable energy.

This financing underscores EXIM Bank’s mission to support national interests by facilitating the global expansion of Malaysian companies and driving positive economic impacts in host countries.

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About EXIM Bank of Malaysia Berhad

The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian business in various sectors in their global ventures.  EXIM Bank takes pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The Bank also offers Shariah-compliant financing and Takaful instruments. For more information, visit www.EXIM.com.my.