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SCSB opens representative office in Cambodia

TAIPEI, Taiwan -- In order to tap the burgeoning ASEAN market, the Shanghai Commercial & Savings Bank (SCSB,上海商業儲蓄銀行) recently established a foothold in the Cambodian capital of Phnom Penh.

SCSB officially opened its representative office in Cambodia on Dec. 2. The bank's chairman, Yung Hung-ching (榮鴻慶) attended the inauguration as the host for the ribbon cutting.

SCSB's representative office in Cambodia is located in the commercial center in Phnom Penh. The first manager, Peter Hsu (徐明德) from Kun Shan University, has an EMBA and has been working at the bank over 22 years.

SCSB has currently set up branches in Hong Kong and Vietnam, a representative office in Thailand, and a leasing company in China.

Cambodia is a member of Association of Southeast Asian Nation (ASEAN), and one of the major counties for Taiwan businesses' investing and manufacturing overseas.

In 2012, gross trade volume between Cambodia and Taiwan totaled 700 million U.S. dollars. Well-known publicly traded big textile companies like Eclat, Makalot Industrial, Roo Hsing, Fei Yen, QMI Group, and TY Fashion International have all invested and established plants in Cambodia.

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Yung Hung-ching (榮鴻慶), fourth left, chairman of the Shanghai Commercial & Savings Bank, (SCSB,上海商業儲蓄銀行) attends as the host of the unveiling of the company's sign and the ribbon cutting for the inauguration of SCSB' new representative office in Cambodia, yesterday. (Courtesy of SCSB)

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