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Singapore property developer ‘hit by Cambodia lockdown’
Hong Lai Huat said the lockdown in Phnom Penh as well as Kandal province will affect its sales in the Singapore-based group’s property and real estate division.
The agriculture division will continue to operate with safe guidelines in place.
The lockdown in the Kingdom is currently scheduled to last from April 15 to April 28 to curb the spread of COVID-19.
The group’s offices in Cambodia will also be required to remain shut during this period. All of its employees have been instructed to work from home.
The government of Cambodia had previously imposed a curfew from April 1 to April 14 from 8pm to 5am. This will be extended for another two weeks along with its lockdown order.
Hong Lai Huat (HLH) has a property development involving highrise condominiums with sea frontage at Sihanoukville, D’Seaview, which has been completed and an ongoing ongoing highrise condominium development, Royal Platinum Condominium, in Phnom Penh.
The group has also expanded its footprint in Cambodia and diversified into the agricultural business. It currently operates one of the largest privately owned cassava (tapioca) plantations and cassava starch factories in the Kingdom.
HLH has a more than 30-year track record. It was established in 1988 and has completed numerous projects in Singapore ranging from public and private residential developments to commercial and industrial buildings.
In 2008, the group diversified into agriculture in Cambodia and has since completed the development of approximately 10,000 hectares of farmland for cassava cultivation with a factory capable of producing more than 100 tonnes of starch on a daily basis.
The group also expanded its property development in Cambodia with the successful launch of its first freehold mixed-use project in Sihanoukville, D’Seaview, comprising 737 residential units and 67 commercial units.
Following that success, it launched its second mixed-use project, Royal Platinum, in 2019, which is being developed in Toul Kork district in Phnom Penh. This new project will consist of 851 residential and 50 commercial units.
HLH Group was listed on the Mainboard of the Singapore Stock Exchange on June 21, 2000.
Source: https://www.khmertimeskh.com/50841692/singapore-property-developer-hit-by-cambodia-lockdown/