KSH-Lian Beng unit in Cambodia property deal

IMPERIAL South East Asia Investment (ISEA), 34.7 per cent owned by KSH Holdings and 32.65 per cent owned by Lian Beng Group, is forming a joint venture (JV) to acquire a piece of land in Cambodia for US$64 million, with plans to redevelop the existing hotel on it.

ISEA has signed a JV agreement with Lok Oknha Sear Rithy, a Cambodian national unrelated to both the listed property development groups, to set up a real estate development firm in Cambodia called New Global Imperial Investment.

The principal activity of New Global will be real estate development and investment holding in Cambodia.