Vol.1 Issue 1
May 2013
In Side: Ideas Into Actions p.5 Dream It, Do It! p.11 Don’t Let Your Failure Kills Your Dream p.13
Bar Code and Price 6000Riels
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Contents
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Editorial Team
Contents
Editor Touch Sopor Tel: +855 360 748 Email: touch.sopor91@gmail.com
Business News Review
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Contributors Leng Len, Khiev Chakriya, San Sel
Ideas Into Action!
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Graphic Designing Coordinators Tith Chandara Graphic Designers Touch Sopor, Hor Sophanna
Launching Startups Through Business Plan Competitions
Business Plan Canvas Model
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Structuring Your Entrepreneurial Ideas
Photographers Rithy Lomorpich, Touch Sopor
Meet Investors
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Fashion Models Ouk Elita, Sothea Ines, Heang Sreychea
Dream it, Do It!
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Supervisor Colin Meyn
Follow Your Passion
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Don’t Let Failure Kill Your Dreams
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An Interview with Managing Director of Asia Master
Ads Here Contact Us: Email: touch.sopor92@gmail.com Tel: 017 360 748
Bill Gates on Leadership
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Face Time
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Why in Person Meetings Matter
Oh Behave!
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Impress with Your Action
Dress the Part
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Balancing Business & Life
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Opportunities
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Office Spaces
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News
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Business News Review
Electric Company Eyes Expansion to Cambodia
Beeline to Operate Under New Local Ownership
ACLEDA to Roll Out Internet Banking Services
One of the world’s leading producers of power supply and electronic components, Delta Electronics, already in Thailand, has a plan to enlarge their business in Cambodia and Myanmar, according to the Bangkok Post.
Russian Mobile Operator VimpelCom, which owned Cambodian mobile brand Beeline along with investments in over 20 countries around the world, has recently announced that is has sold its entire share to a local partner, Sabay News reported.
ACLEDA Bank has decided to invest $3 million in their new services including internet banking, which will be available in September and will aim to make the bank’s services more convenient, according to the Phnom Penh Post.
There is no any exact timeframe for this plan, according to the Post, but the company is looking to connect Cambodia to distributing channels and supply chain in Asian and European countries. “It is interesting to note that most of the firms expanding operations in Cambodia are the same firms that moved to Thailand some 20 to 25 years ago, even producing the same products. This is contributing to the increasing diversification of Cambodia’s economy, and reflects the rapidly improving business climate here,” Peter Brimble, deputy country director for the Asian Development Bank, told the Post. Source: The Bangkok Post
This announcement was made after Vimplecom sold 49 per cent of its shares to a Vietnamese company for $ 527 million in April 2012. The chairman of VimpelCom, Jo Lunder, told Sabay that selling the entire share to the local trade partnership is a positive sign showing that the company’s partners are able to own as well as to manage this mobile operation to continue to expand. VimpelCom has invested in Cambodian market since 2009 with the budget package of $28 million and claims to have 630,000 Cambodian users. Source: Sabay News
ACLEDA vice-president So Phonnary said the bank would buy an internet-banking suite from technology firm Aurionpro. He added that the investment would help the bank to broaden the service and allow customers to access these services via mobile phone. “We want our clients to have more services; they can operate from wherever and whenever,” he told the Post. An Aurionpro press release mentioned that ACLEDA’s new service will include fund transfers and the ability to check account statements online. Source: the Phnom Penh Post Edited by Khiev Chakriya
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Feature
Ideas Into Action!
Launching Startups Through Business Plan Competitions
Feature together they joined the National Small and Medium Enterprises Business Plan Competition. It was a good way to start, he said. Recently, encouraging startups has become increasingly important as more young entrepeneurs enter the work force, and more institutions are focusing on these emerging economic growth opportunities. The Association Internationale des Etudiants en Sciences Economiquies et Commeriales, AIESEC, is among
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are also increasing. “I think we can’t only depend on big companies to the economy and give people jobs”, said the President of AIESEC Cambodia Ly Longdi. “There is a need for young people to be more involved in creating solutions and activities that would help fulfill the need of the societies.” Recently on 6th April this year, five business ideas were selected from among twenty two competitors, to present a more concrete business plan onto the stage at the AIESEC Business Plan Competition 2013. With their energetic presentations, further details of how they are going to fight for market share, and
Siting on the green grass under a tree in front of Royal University of Phnom Penh, Thoeun Sothea was talking about his new zucchini sponge product, soon to be introduced to Cambodia market. The university lawn, serving as his table and chair and office made of grass, is usually the place where he begins business plan meetings with his team. Sothea, who used to live in the provinces with his family, has taken common zucchini and turned it into a perfectly funcional bath sponge. He uses it to wash the plates. He uses it to wash his body. He thinks other people will want to do the same. “It’s softer, more durable, and cheaper to use. It’s just made from the vegetables that remain in my home after I’m done eating” said Sothea, the team leader and creator of the zucchini sponge who works as the trading and marketing manager for Thea Na Cambodia. With this simple, cheap and easily made product, Sothea brought his innovation to his team, Eang Sokeang and Leng Sovanlinda-student from Mekong University, and
Step Scooter team is doing presentation during 2013 AIESEC Business Plan Competition Rithy Lomorpich
a number of institutions that are working on motivating young entrepreneurs. Being part of a project to build leadership spirit, AIESEC’s business plan competition was created to offer opportunities for young people to show off their ideas and possibly turn them into a profitable business. As Cambodia’s economy is growing, opportunities for new startups
explanations of how their products are going to be profitable, it seemed like they will not give up their ideas and will surely make it in the real business world. After winning the first prize of two million Riels, the team Tu-Yu Khmer, whose idea is to produce irrigation pipe made from tarpaulin for farmers to be sold at a low price, said they have the confidence to turn their idea into a real business if
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investors show interest in their idea. Even though the clear plan of executing the project still depends on investors, the team is still proud of what they have accomplished and learned through the competition. Ra Zany, the team leader of Tu-Yu Khmer and a business and enterprise management major from Mekong University said that “confidence is what we earn. Flexibility in sales and marketing is another lesson we learned.”
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Confidence is what w sales and marketing
The scooter team was also among the five groups on the final stage. Though they did not obtain the winning prize, Chin Panhavion, the team leader, said he has learnt more about how to implement a business concept. But he said he will delay making a real business until after graduation this year. “If we run our business before [the launch of the ASEAN Economic Community], we have a lot of chance to grow our business and we can have a firm foundation”, said Panhavion. However, Ouk Elita, who was the winner of the competition last year, has made it her goal within the next few years to get more working experiences as it is rather important to really learn about the field in which she wants to start a business. “I think it is easy to come up with ideas, but we also have to know what really is going on and see how similar businesses deal with those challenges in order to achieve success in our own company,” said Elita. While it is important that young entrepeneurs are facing the challenge of creating profitable business ideas, there are also strong calls for the involvement of the government to boost potential opportunities. Rather than neglecting the action that is
AIESEC Business Plan winners recieve the price from RMA
Feature
we earned. Flexibility in is another lesson learnt.
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needed to encourage startups, the government should implement policies that encourage this emerging group of entrepeneurs, said Sothea of team zuchini sponge. “No government officials come to help us find investment or anything. There are only foreign investors. This is the weak point that Cambodia is facing. It can push that business into the nostarting point...or it can be copied because we already present it to public. No matter if we are the owner of the product, if someone does it first, it would be harder for us to compete”, said Sothea. Even with the need of government participation, some big corporations and organizations like RMA have become actively involved in creating the starting force to push young people to be more motivated in bringing out their real talent through this kind of competition. “This is the fourth year that we’re supporting AIESEC. For us, this is strategic because we believe that the right CSR [corporate social responsibility] investment is the investment in the youth. These youngsters are the future leaders for Cambodia,” said Rami Sharaf, CEO of RMA. Though he has been working for a while to gain experience, Thouen Sothea, who win the first prize of $3000 in the National SME Business Plan Competition, would not not have dared to think about turning his interest into business if it weren’t for taking part in the competition.
Rithy Lomorpich
“Before joining the competition, I felt like I have the idea but I don’t know anything about it, and don’t really know how to start. But after that, it pushes me to commit to it, and now I have to do it,” he said. By: Touch Sopor
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Value Proposition Which one of our customers’s problems are we helping to solve? Which needs are we satisfying?
Cost Structure
What are the important costs in our business model?
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Customer Segments
For who are we solving a problem or fulfilling a need?
Structuring
Your Business
Revenue Streams What is the revenue model? What are the pricing tactics? For what value are our customers willing to pay?
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Keys Partners
Who are our key partners?
Ideas 6
Keys Resources
What key resources does our value proposition require?
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Meet Investors Channels Unitus Impact, a social enThrough which channels do our customers segments want to be reached?
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Customer Relations
How will we GET, KEEP, and GROW customers?
terprises investor that invests in companies that improve the livelihood of the working poor and achieve strong financial returns. The business idea should be expandable in Asia and engage the working poor as a supplier or distributor. For more: http:// unitusimpact.com
EME, Emerging Markets Entrepre-
neurs is a business incubator offering support to start-up business in Cambodia with both investment and other services. So, ask yourself if your business idea is well organized, you are committed to succeed, or you are an existing start-up or small enterprise operating in Cambodia, then bring your business plan and go to meet your investor. For more: www.emergingmarkets. asia/eme
Kiva Located in San Fransico,
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Key Activities
What are the key activities that our value proposition requires?
California, the United States, Kiva is a non-profit organization that enables individuals to lend as little as $25 to help create opportunities around the world for small-scale entrepeneurs. Their mission is to connect people through lending. For more: www.kiva.org
ARUN Focusing on developing
countries, ARUN invests in enterprises whose business aims to solve their country’s poverty issue, with a focus not only on economical activities, but also social impacts. For more: www.arunllc.jp
By: Touch Sopor
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Dream It! Do It! Take your passions and turn them into profitable actions
Smallworld Founding Team Smallworld
It’s a simple villa. But inside there are big dreams to create a community of startup businesses in Phnom Penh. Inspired by their business role models in the U.S. tech capital of Silicon Valley, the home of the world largest technology corporations and thousands of startups, the team at SmallWorld hopes to combine their efforts inside this villa in order to achieve their dreams. “Do Things I Wanna Do Before I Die” is the phrase that was painted in 3D on the wall of SmallWorld by a team of visiting bicyclists who found that they had the same philosophy the same as the founders of Smallworld. This gift led to their tagline “Dream it, Do it.” Located in Toul Kork District, which the SmallWorld team says is at the center of a blossoming group of young motivated Cambodians because it is surrounded by universities, SmallWorld has formed a bright, energetic team that works in a fruitful of green environment. Sometimes playing alone, and sometimes with the team of anyone, Riem Sokphirum said Smallworld is where he can meet different people who have the same interest and come to do it together. “Small world for me is the place that I can show off my talent in music like composing song, singing, playing guitar and more. It’s the place that I meeting all who love music to create my band. Sometime I can earn money from there” said Phirum, the team leader of Smallworld Smallband, the music band created in Smallworld. “I used to work in a restaurant, and it was not so
comfortable to have business meetings or meetings with my clients, and it costs a lot to go to a proper place”, said Rithy Thul, the founder of a challenging new business model called Toursanak (see sidebar). “So I was thinking why shouldn’t there be a place where we can come to work together?” Then a journey began in which Rithy began to have discussions about the idea with many of his friends and, eventually, an internet consultant. “We were thinking of having something like a coffee shop, but the discussion was still going on,” he added. Then, finally, it was Silicon Valley that gave them idea to bring creative and collaborative young people to work together and seek professional opportunities based on their real passions. And to do it! But while creating SmallWorld was a dream, there have been stumbling blocks along the way. Implementing the idea was moving along in the first year, but due to financial constraints and the misconceptions of business models, things have slowed down. Sitting in a rattan chair in SmallWorld restaurant, Rithy said he wants the rich people in Cambodia to understand the culture of sharing and trust that, in time, young people with innovative ideas are worth the investment. “In the next five or ten years, we want the rich people to take out their money under their pillow to invest in the initiative of young people,” Rithy said. “In the US, Silicon Valley is q success because rich people there invest in their young people.” By: Touch Sopor
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Follow Your Passion The inspiration of SmallWorld has brought many young people to come together around many different activities that they love to do in the hopes that their collaboration might be profitable. They discovered their talent out of passion, and by facing the struggles and challenges of making it a business, some of these startups have learned many important lessons. Arrowdot
Toursanak: Living in the forest is not his only option, but it is a choice that Rithy Thul makes most days as the founder of Toursanak, a biking tour company that he began in 2012, and most of his clients are foreigners and Cambodian young people. Cycling and enjoying the outdoors have always been two of Rithy Thul’s favorite things to do, and they are now part of his everyday life. They are his business. “I love bikes. I love traveling. So operating a business that makes me some income while I can ride bike, travel, and have fun is a good deal,” said Rithy, who has plans to do an epic bike tour around the ASEAN countries.
Arrowdot: Starting with three highly publicized projects, the robotics team Arrowdot was founded in late 2012. They presented their initial products World-E, Armat, and Magic House BarCamp Phnom Penh and later rolled them out in Siem Reap. With the aspiration of bringing a boom in creative technology to the country, the team has formed itself with about ten members founded by Hor Sophanna in order to further their plans of making Arrowdot into a tech business in the future. “Innovative technology is very important for the world of development and it makes life easier. I love creating new simple things that make people happy,” Hor Sophanna said. Toursanak
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Interview
Don’t Let Failure Kill Your Dreams An interview with Sopheak Cheang, Managing Director of Asia Master
Intro Touch Sopor
Q A
The idea for Asia Master was so different, how did you come up with your new business idea? After I failed with my old business, I was trying to find a new opportunity to keep on moving. I spent my free time talking with people and travelling to other countries to get different ideas and perspectives. Business opportunities or business ideas that we are trying to think of by ourselves, and those that we get from experiences from travelling abroad are very much different. I met my friend in another country, and he suggested that I consider doing business on a telecommunication service. It is quite different from consumer products as it reduces a lot of cost from having trucks, people, and more. Sometimes, if we stay in a place, we don’t know what the opportunities in that place are, but if we are going to the better place and knowing better people, they know how to make money out of that place, and we can see the opportunities.
Sopheak Cheang, 31, the Managing Director of Asia Master, owns a call center business and telecommunication service provider. He was also the President of Junior Chamber International in Cambodia in 2012. His business is growing remarkably fast and he is perhaps the first young Cambodian bussinessperson to expand the scope of his activities to Africa, where he recently opened a call center. But Sopheak did not start his with success. He says that his initial failures brought him the courage to learn and challenge more.
Interview
Q A
How do you manage your human resources when you are not an expert in this field?
Q
You said your earlier business failed partly becausethere were too many shareholders. From your experience, how would you describe the differences between having one shareholder to having many?
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It depends on situation and different kind of business. For this new business idea, if I would have worked with many different shareholders, I would fail again. First, it is because of the decision making. If we are the only one, making a decision is so fast. If we are alone, we want to go anywhere, we go straight in that direction. If the first step is smooth, you can begin your next step with more people and yes it is still under your control because you already have a system.
Q A
Q A
My business is all about technology, and software, but what is my background? I studied marketing. So, the only way to run this business is knowing how to use people. “I don’t need to be doctor, I just need to know how to use this doctor. That’s good enough.” We have to know how to use people from director to cleaner. There are different type of leaders. Some leaders like to put their hands into operations, but some just wait to see the result and give advice, but the thing is we just need to know how to control our staff.
Why is it important to start small in business? If you hold 10 balls, you can hold them all at once, but if you have 100, you can’t hold them all at once. So I think starting small with a business is really important because everything is still in our hands. I raise an example: when we first start our company, we set out different departments like finance, marketing, or sales. And when your company is growing, and you need more staff, you can just recruit them more for each department, so everything goes under control no matter how big the company is. What is your perspective on entrepreneurship in Cambodia? I observe that, the entrepreneurship sector is growing, but the entrepreneurs themselves and those who want to start don’t know where to go, and don’t know how to start, and this is the real problem. So if you, the young entrepreneurs, know how to start, you can make a lot of money, but you need to start. If you don’t start, you cannot do. Everything must have its starting point. By: Touch Sopor
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Bill Gates on Leadership
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Don’t waste employees’ time and company resources on irrelevant rules, processes etc. Believe that employees are smart enough to make reasonable decisions.
• Don’t waste time and money on stupid things such as 4 page memos about the correct way to wear your security badge or rules about every conceivable situation an employee might face. Assume your employees are smart enough to make reasonable decisions • Only hold meetings that are necessary. If you don’t need the meeting, then don’t have it just because it is Monday morning and you always have a meeting on Monday morning • Hallway meetings between key members of teams often solve many problems • Keep your meetings focused and make sure that a decision is reached before the end of the meeting (don’t leave decisions hanging if possible) • Insincerity wastes time and effort. Be sincere, direct and mean what you say. By following these rules, you focus more on the work and less on trying to fool your subordinates into thinking that their ideas are good when they are not or that you like their style, when it is clear that they don’t fit in • Companies should have people working there who want to get the work done – not smooth talkers • Don’t make something a regulation if it is not going to be followed! Make rules few and far between and the ones that are there must make sense
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Tips
Face Time Why in person meetings matter
Adapted from “Why Face-to-Face Business Meeting Matter,” a research paper by Professor Richard D. Arvey, Ph.D. Business School, National University of Singapore
discussion more to ally the talks with emotional expression like hand gestures, voice quality, facial expressions, volume, and more that all of which cannot be captured in email or chat or video conferencing.
The digital world has change the way of everyday communication so does in business area. People tend to prefer digital communication rather than face-to-face interactive communication as it saves time, money, and effort; however, Professor Richard D. Arvey, Ph.D from Business School of National University of Singapore has done a research study showing “Why Face-to-Face Business Meeting Matter” to some extent, and why should it matter to your decision making procedure.
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Face-to-face meeting enable members to visually communicate and observe “verbal and nonverbal behavioral styles” that mostly can’t be captured in computer or communication devises. We often feel more associated and more dynamic to be involved with the
Trust is the core value of building comfortable relationship in business, and to obtain this, it requires repeated interaction with one another; therefore, faceto-face meeting has proven to give good opportunity to develop transparency and trust among each other in team while the research evidence suggested it would taking longer with computer based technologies. 3.
Typically, you do not know who would show up on time, or what kind of emotional performance of the participants would display which might not be observed in electronically based communication devices. The information such these could give you spaces to evaluate and judge the integrity, competencies, and skills of participants, and it is operationally important for the company.
Tips
Oh Behave! Impress with Your Actions
First good impression is usually very important for communication as the mean for successful business; therefore, knowing dos and don’t help you to behave well. These are some tips when you are in Asia
Handshakes aren’t just for businesspeople in the Western world. They have become an accepted custom in the Philippines, Malaysia, Vietnam, Singapore and Indonesia. Authors Terri Morrison and Wayne Conway, in “Kiss, Bow, or Shake Hands Asia,” caution against a handshake that is too firm, however, as this is interpreted as aggression. Giving a serious but not too strong squeeze is a good way to start any business relationship.
Greeting
Business appointments should be set up several weeks in advance, and two days or one day confirmation is a common courtesy. Marray Bosrock and Megan McGinnis in “Asian Business Customs and Manners” draw attention to the fact that negotiation in person is preferable to meeting by phone or email. Business cards should always be presented face up with both hands and if you get one in return it is respectful to read it before putting it into your pocket.
Meeting
Dining
Whether you are at a restaurant or a guest in someone’s home, formality is expected at all times. The oldest person or more senior official should be the first person around a table to take a seat also to take the first bite. According to Elizabeth Devine and Nancy Braganti, authors of “The Traveler’s Guide to Asian Customs & Manners,” it’s a show of respect toward the host to leave a small bit of food on your plate after the meal, but this varies from culture to culture!
Gifts
If you’re invited to someone’s home for dinner, it’s customary to bring a wrapped gift, and as with everything the right color can depend on the culture. In Signapore, white, blue or black paper is associated with funerals. In Thailand, use yellow or gold as green, black, and blue should be avoided. In the Philippines there are no color taboos at all. In Indonesia, red and gold are considered lucky. Criticizing the government may be usual in other countries, but Michael Powell, author of “Behave Yourself: The Essential Guide to International Etiquette,” notifies that making disrespectful remarks about Thailand’s royals could cost you a fine. He also emphasizes respectful behavior around Buddha images or statues. In general, it is a good idea to stay away from politics and be aware of social norms in business meetings to avoid awkward situations.
Etiquette
Rithy Lomorpich
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Fashion
Dress the Part Keep things professional with these styles for the workplace
Photos by Rithy Lomorpich
Fashion
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Fashion
Fashion
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Lifestyle
Balancing Business Chy Sila Director & Co-Founder of CBM Cambodia Balancing life between working, family, and personal interests is a challenge to me every day as we always like to work and never want to take a break especially when you are enjoying the fruits of our labor. This makes me forgot many important things; however there are reasons for us to do things. So, I ask these questions: Why do we work so hard, and why do we want to make so much money? So I put few core things as my daily tasks as part of my life: 1. There is nothing more important than family. I still have to remind this all the time. 2. Health is my asset. I go cycling every morning just to make sure I am stay healthy because MONEY can’t buy it.
3. As human beings, we always have ambitions of achieving things. That’s what life is all about, so we have put lots of time and effort to do our best in order to achieve our goals. 4. In my personal time, I love to do things that are maybe a bit crazy, but I think we live only once. Let’s make some mistakes. 5. Giving back is my philosophy. We make our living from what we get and make life from what we give, this is a logical way to live, so enjoy sharing, giving and helping others who need it. We all have one thing which we own equally: Time. Whether we are rich, poor, young or old we own the same 24 hours. We just utilize them differently. Of course, if you want to achieve something you have to work so hard. The way to balance it is you have to play hard too. Don’t just hang around and waste your time, life is too short to wait for things to happen.
Lifestyle
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& Life
Keuk Narin
Keuk Narin: CEO of Real Estate Consultant of Cambodia
Sopheak Cheang: Managing Director of Asia Master
From a volunteer job with small salary to high salary, from a small position to a high position, I always put my focus on work rather than my private life or family life. Life has been very tough as far as managing time because when I started working I was still a student. While doing my bachelor’s degree, I was in a relationship with my girlfriend, currently my wife, as later we got married. I had a very small salary, so I needed to try so hard to earn more money for my family and my studies. Then, time for me was split between work, study, and family. I can say my career life is very successful, but my family life is very poor. Until today, my wife is always angry at me, and blames me. I remember, some days ago my wife ask for divorce because I don’t have any time for her, do not take care of her and children. She used to say this word “You are success, are you happy?” Through the years, I have tried to find balance but it is really challenging for me, because my dream is big, and time is shorter and shorter. I believe if I can achieve my dream, my family may be happy, but sometimes I think, I might regret it someday.
Health is my first priority, but I divide my free time between three important things. First, I think about my health. Some people might think about their family as more important, but to me, I believe if I have good health, I could do anything. I am trying to find the sport that fits me best. Second, I spend my time with my family because I have a wife and children. We do business, but we need to differentiate the time for family and for business, so I separate it wisely. Mostly, when I am with my wife or my children, I don’t pick up the phone unless it is very important. The other way around, I tell my family if I am concentrating on my business, don’t come to disturb me, and after I am done, I will tell you so you can come and talk to me. The third important thing is good relations with friends and networking. I like to travel abroad to learn about new business opportunities, and talk with people to learn from people. Friends are important. They share experiences, happiness, and sadness. By: Touch Sopor
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Opportunities
Opportunities Global Entrepreneurship Summer School opens application for 2013. 35 outstanding applicants whose age between18 to 27 will be selected to join Global Entrepreneurship Summer School at Munich, Germany. For more: http://www.globalsummerschool.org/?page_id=33 The scholarship to New Zealand offer to Cambodia for 2013 is now open application offering up to 30 scholarship for those who are working for public, private or civil society sectors. For more: http://www.cambodia.idp.com/scholarships/new_ zealand_scholarships.aspx Application DAAD scholarship 2013 is opened for qualified candidates from developing countries. This scholarship aim to fund and support foreign students who wish to study selected courses in a German university. For more: http://www.ait.ac.th/ admissions/Current_Scholarships/daad-scholarships-for-nationals-of-cambodia-lao-pdr-myanmarand-vietnam-1#.UZYVDaLvvOU Short-Term Scholarship in Australia, the endeavor research fellowship provides financial support for postgraduate students and postdoctoral fellows from participating Asian countries to undertake short-term research in Australia. Application Deadline: 31 June 2013. For more: www.innovation.gov. au/internationalEducation University of Westminster is offering a number of scholarships to international students wishing to study in London, UK. It fully funding the full-time Master’s degree. Field of study will offered by the university. Application Deadline: 31st May 2013. For more: http://www.westminster.ac.uk/study/ prospective-students/fees-and-funding/fundingfor-students-starting-before-201213/scholarships
Office Spaces 1. Vattanac Capital Office Building: Located on Monivong Boulevard, and near the council of ministers, the two office towers provide whole floors of 1,461 to 1,769 sqm., which can be subdivided into office suites of 100 sqm. 2. Canadia Bank development (OCIC Tower): It is located nearby Monivong Blvd / Norodom Blvd, and Raffles Le Royal Hotel. The site area is approximately 6,000 sqm. The total gross area will be approximately 35,000 sqm with three levels of underground parking and will be attributed to banking facilities, offices for lease, and retail. The asking renting price is $30 per sqm. 3. Phnom Penh Tower: It is an office and commercial center which contains total floor area 31,299.89 m2, and situated on 7Makara District. It is now serving more than fifty local and international companies. The rental price is range from $19 to $25 per m2, plus service charge is $4/m2 is charged separately. 4. Phnom Penh Center: Located nearby the Independence Monument which offers affordable rent, huge parking area, and restaurants. The central part of the buildings is still used as an academic facility, and entrance A and F are used as serviced offices. Price per sqm: USD 11. 5. Hong Kong Centre: Situated on Sothearos street close to the Royal Palace. It was office building in Phnom Penh at one point. The ground floor is dedicated to an airline and hospital representatives. Other major tenants that occupy this 4 story structure include French petroleum company and airline’s cargo division. Price per sqm: unknown. 6. VTRUST Property Co., Ltd: Based in Sangkat Mittapheap close to Central Market. It has been providing the superior real estate services since the company was first established in August 2004 and now it becomes a real estate in providing serviced office space, serviced apartments, property valuation, property development and real estate services in Phnom Penh. Space office rate: $ 8-10 per square meter. 7. DELANO’S Business Center: It is with a total size of 4000 square meters and offering a variety of floor plans to accommodate numerous office settings. It is located on Kampuchea Krom street next to Nan Jin Hotel. Floor plans range from 100 to 360 square meters. Finishes throughout the building offers business environment to law, financial and other professional firms. Prices starting at 15 USD m2 including custom office layout to requirements. Contributor: San Sel