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Cambodian Government to Compensate Samart

Issued: 28 July 2003

Thailand & Samart Crop. PCL (H) said Monday that affiliate Cambodia Samart Communication Ltd, one of the largest Thai-owned businesses in Cambodia, signed a deal under which it will receive financial compensation from the Cambodian government for the damages of its installations suffered during anti-Thai riots in the capital Phnom Penh in late January. The wireless communication operator will receive a total of $3.24 million, part in cash, and part in tax concession fees and overseas call credits, Samart said.

In the January anti-Thai riots, Thai Embassy was torched in fire and other Thai-owned businesses were also destroyed. Thereafter, in restoration the diplomatic relation with Thailand, the Cambodian government had paid compensation to the embassy for the damage and had set the group of investigation on damages of the private sector as well





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