MediaLatest NewsACLEDA INSTITUTE OF BUSINESS Ground Breaking Ceremony

ACLEDA INSTITUTE OF BUSINESS Ground Breaking Ceremony

January 6, 2017

Phnom Penh, January 6, 2017: ACLEDA INSTITUTE OF BUSINESS, the subsidiary of ACLEDA Bank Plc., which is one of the top 100 banks in ASEAN, celebrates its Ground Breaking Ceremony where situated in Anlong Kngan village (Phum), Khmuonh commune (Sangkat), Sen Sok district (Khan), Phnom Penh.

Mr. Chhan Ponloeu, Managing Director of ACLEDA INSTITUTE OF BUSINESS, said this construction reflects on our high commitment to join collaboration with our government in order to educate and develop potential and high-quality human resources. This investment makes parents, guardians, benefactors and students highly trust on the institute that in accordance with the strategies of ACLEDA Institute of Business in providing students with associate degrees, bachelor degrees and master degrees of business administration in Finance and Banking in order to fulfil the requirements and needs of education & training service for professional development in finance and banking sectors to students, local and international organizations with high-quality international standards.

ACLEDA INSTITUTE OF BUSINESS invested and purchased 7.57 Hectares of its own land in area in order to build comfortable building with international standards; likewise, it is also the building that focuses on environmental issues and energy saving, which called Green Building. The project has a total investment of more than 37 million USD. This project is to build the construction totally 6 buildings that included 2 five-storey buildings, a three-storey administrative building which contained canteen and bookstore, a three-storey library, a four-storey dormitories for students, soccer field, volleyball court, basketball court and other infrastructure on campus. After finishing this construction in 2018, our institute is able to accommodate 627 employees and 2,866 students per study shift.

Mr. Chhan Ponloeu, Managing Director of ACLEDA INSTITUTE OF BUSINESS, also added this construction will be built by PISNOKA International Corporation Ltd, which is a reputable construction company in Cambodia that fully obtained and registered license number Co.2268KH/1996 from Ministry of Commerce; it is located in building #51, Street 322, Beung Kengkang commune (Sangkat), Chamkarmon district (Khan), Phnom Penh. In addition, the construction of ACLEDA INSTITUTE OF BUSINESS has been consulted and got mater plan and design from HSnK Architecture & Engineering Company that addressed and licensed in Seoul, South Korea. Moreover, ACLEDA INSTITUTE OF BUSINESS is fully received authorization from Ministry of Land Management, Urban Planning and Construction to build in agreement with the letter number 329 Dor Nor Sor, dated November 1, 2016.

Dr. So Phonnary, Chairwoman of Board of Directors of ACLEDA INSTITUTE OF BUSINESS, mentioned this construction is the testimony of our high commitment to contribute more high-quality human resources in education sector in the country to fulfil the needs of economic growth in Cambodia and the current ASEAN economic growth; as well as, with the goals and objectives of the shareholders and stakeholders, ACLEDA Institute of Business has set its own vision to be a leading institute of excellence in providing superior quality of education and training services to all segments of the community at large. Furthermore, students who get education/training services from ACLEDA Institute of Business; they will have high professional competency in Finance and Banking to work with local, regional and international banking & financial institution. ACLEDA INSTITUTE OF BUSINESS will at all times observe the highest principles of ethical behavior, respect for society, the law and the environment.

Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc. and shareholder representative of ACLEDA INSTITUTE OF BUSINESS, said due to the potential investment opportunity in education sector in line with the strategies of shareholders of ACLEDA INSTITUTE OF BUSINESS and the policies of the Royal Government of Cambodia in promoting high quality education and fulfilling the requirement of local and global labor market, ACLEDA Bank Plc. has invested to establish ACLEDA INSTITUTE OF BUSINESS with 100% ownership. The investment in education takes long time to get profit; it is called long-term investments, unlike other business investments take only 3 to 5 years to get profits. Therefore, in line with the stated vision and mission of ACLEDA INSTITUTE OF BUSINESS, this investment will provide priceless values and benefits in developing potential human resources (graduates) to ensure good performance and high productivity for concerned employing institutions.

About ACLEDA INSTITUTE OF BUSINESS

ACLEDA INSTITUTE OF BUSINESS is a higher education institution that officially registered and recognized by The Royal Government of Cambodia, based on sub-decree No. 13 ANKr. BK dated January 25, 2016 to provide both national and international students and participants with the superior quality of higher education services in business administration and professional knowledge & skills of finance & banking.

By the end of December 2016, with total assets more than USD26 million, the institute has employed 143 lecturing staff and staff. Besides undertaking the whole training and professional development programs to staff at all levels of ACLEDA Bank and both local & overseas subsidiaries, ACLEDA INSTITUTE OF BUSINESS has been providing associate degrees and bachelor degrees program major in Finance and Banking to 410 students. Otherwise, it has been providing professional training programs on Finance, Banking and Microfinance to 4,968 local participants who are from 205 institutions including banks, MFIs, credit operators and private companies; and 1.796 international participants who are regulators, banks and microfinance practitioners of 129 institutions which came from 29 countries.

About ACLEDA Bank Plc.

ACLEDA Bank Plc. is the parent company that has 259 offices in Cambodia, 41 offices in Laos and 6 offices in Myanmar as its operational networks with total assets roughly USD 4,606 million, total loan outstanding at the amount of USD 2,775 million, total customer deposit at the amount of USD 3,056 million and net profit after taxes USD120.6 million as at December 31, 2016. Nowadays, ACLEDA Bank Plc. has 5 subsidiaries which are ACLEDA Bank Lao Ltd., ACLEDA Securities Plc., ACLEDA INSTITUTE OF BUSINESS, ACLEDA MFI Myanmar Co., Ltd., and ACLEDA Properties Ltd.; and one representative office in Myanmar.