Lian Beng terminates construction project in Cambodia

Good bye, Phnom Penh.

Earlier this year, Singapore construction group Lian Beng announced that it would enter into a joint venture with a Cambodian national to develop real estate in the latter’s capital city of Phnom Penh, but it seems that plans took a U-turn and Lian Beng decided to terminate the joint venture investment with no reasons disclosed.

According to a report by RHB, the termination of the joint venture will have no financial impact to Lian Beng. The withdrawal of investment in real estate development in Cambodia may also relieve the investors’ concerns of foreign country risks.

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