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Transcript of ABOUT PRASAC 2 · ABOUT PRASAC 2 Vision and Mission ... ABOUT PRASAC 3 4 6 7 8 11 VISION AND...
ABOUT PRASAC 2Vision and Mission ______________________________________________3
Background ____________________________________________________4
Our Challenges _________________________________________________6
Business Objectives ______________________________________________7
Clients and Client Highlights ______________________________________8
Financial Products and Eligible Criteria ___________________________ 11
OWNERSHIP AND GOVERNANCE 12Organizational Structure _______________________________________ 13
Shareholders _________________________________________________ 14
Board Committee _____________________________________________ 15
Board of Directors ____________________________________________ 16
Management _________________________________________________ 18
OPERATIONAl HIGHlIGHTS 22Remark From Chairman _______________________________________ 23
Remark From General Manager _________________________________ 25
Financial Performance Highlights ________________________________ 28
Operational Highlights _________________________________________ 30
Staffing and Capacity Building __________________________________ 32
Internal Control and Risk Management ___________________________ 34
Marketing and Social Activities _________________________________ 36
AUDITED FINANCIAl STATEmENTS 40Report of the Board of Directors ________________________________ 41
Report of the Independent Auditors ______________________________ 46
Balance Sheet ________________________________________________ 47
Income Statement ____________________________________________ 48
Statement of Changes In Equity _________________________________ 48
Statement of Cash Flows _______________________________________ 49
CONTACT US 50Office Network with Contact Address _____________________________ 51
Outreach Highlights with Operational Map _________________________ 62
1
2
ABOUT PRASAC
3
4
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7
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11
VISION
AND
MISSION
BACKGROUND
OUR
CHALLENGES
BUSINESS
OBJECTIVES
CLIENTS
AND
CLIENT HIGHLIGHTS
FINANCIAL
PRODUCTS
AND
ELIGIBLE CRITERIA
3
To improve the living standards of the rural people contributing to sustainable economic development by being a financially viable microfinance institution.
To provide sustainable access to financial services for rural communities and micro-enterprises.
VISION
mISSION
4
BACKGROUND
PRASAC was a former credit component of
PRASAC’s project funded by the European Union
and implemented by three ministries of the Royal
Government of Cambodia.
The project started in 1995 to rehabilitate and
support agricultural sector in six provinces around
Phnom Penh i.e. Kompong Cham, Kompong Chhnang,
Kompong Speu, Takeo, Prey Veng, and Svay Rieng.
PRASAC’s project phased out in December 2003.
To ensure the access to financial services to rural
communities and micro-enterprises,PRASAC’s
Project Steering Committee made a strategic
decision to transform its credit component into a
licensed MFI. In March 2002, the transformation
was started by creating PRASAC Credit Association
as credit operator registered with the National Bank
of Cambodia (NBC).
In 2003, a trust fund called Cambodia Rural
Development Foundation (CRDF) and PRASAC
Staff Company were established to facilitate
the transformation. With two initial shareholders,
PRASAC was established by registering with the
Ministry of Commerce as a private limited liability
company in August 2004 and got its license from the
NBC in November 2004 to legally provision financial
services to rural communities and micro-enterprises.
To finalize its transformation, PRASAC started to
identify and negotiate with investors since 2005
in order to replace the temporary shareholders
i.e. CRDF. In 2007, PRASAC completed its
transformation by replacing CRDF with new five
shareholders such as BIO (Belgian Investment
Company for Developing Countries), DGC (Dragon
Capital Group Limited), FMO (The Netherlands
Development Finance Company), LOLC (Lanka
ORIX LEASING Company Ltd), and Oikocredit.
Particularly, PRASAC received a permanent license
from NBC in December 2007.
5
mIlESTONE
1995 - 1999: PRASAC I, three EU funded rural
development projects in six provinces, with three
different credit components.
2000 - 2003: Extension as PRASAC II, combined to
one project, one credit component.
2000: First strategic decision to create a sustainable
institution beyond the closure of PRASAC II
project.
2001: HO and branch offices separated from
PRASAC II, with separate management but still as a
part of the project.
2002: Creation of PCA (PRASAC Credit Association),
registered with the NBC in March 2002 as Rural
Credit Operator.
2003: Two initial shareholders were created, a Trust
Fund called CRDF created by PRASAC II and
PRASAC Staff Company created by staff members.
2004: Registered as PRASAC MFI Ltd with
Ministry of Commerce as a private limited liability
company and received license from NBC.
2005: The credit fund was transferred from EC to
the government and finally to PRASAC MFI Ltd as
Subordinated Debt.
2006: The commercialization process was to seek for
equity investment participation from commercial and
social investors.
2007: PRASAC completed its transformation by
replacing CRDF with new five shareholders, BIO,
DGC, FMO, LOLC, and Oikocredit. And, PRASAC
received a permanent license from NBC in December
2007.
2008: PRASAC increased its capital to 15 billion
riels from six shareholders. PRASAC was extending
its financial services throughout the country.
2009: PRASAC selected Oracle FLEXCUBE
Universal Banking to modernize its MIS to build
competitive advantages, offer more diversified ranges
of products and prepare for the next level.
6
OUR CHAllENGES
1. To continue serving the rural poor under high
professional and moral standards implementing
transparency and good governance on all
operational levels
2. To enforce credit discipline among staffs
and clients by strengthening internal control
system
3. To diversify loan portfolio and review financial
products and services to be competitive and suit
clients’ demands, and to look for external
funding to safeguard funds and plan expansion
7
The business objectives of the Company are to carry out
activities of microfinance by providing financial
services to rural households and small and medium
enterprises, such as:
Credit services in the form of group and 1.
individual loans
Savings and money transfer services2.
To raise funds or borrow money in such manner 3.
as the company shall think fit and to secure the
repayment of any money borrowed, raised or
owed to creditors
Do all such other things as incidental or which 4.
the Company may think fit and conducive to the
attainment of the above objectives.
The objectives shall be achieved by strict adherence of
high professional and moral standards, transparency,
and good governance.
BUSINESS OBJECTIVES
8
a. PRASAC’s Client:
Rural Community
Clients are the rural village households that have
repayment capacity residing in rural areas
outside the urban areas of all provincial towns.
Microenterprise
Clients are microenterprises that have number of
employees less than 11 and or assets less than
USD50,000.
ClIENTS AND ClIENT HIGHlIGHTS
9
b. Client Highlight:
MRS. DAM TOCH, 35, Raising Pig, Kampong
Speu
MRS. DAM TOCH, 35 years old, is PRASAC’s
client who is successfulin her business with
PRASAC’s loan. Presently, she is living in Sdok
Slart village, Phnom Touch commune,Udong
district, Kampong Speu province. She spends
most of her daily time on raising pigs
and doing housework. She and her husband,
MR. SENG THAN, a wine producer, wanted
to raise more pigs to extend their business.
After getting advice from their sister, they
decided to request for USD 2,000 loan for 21
months from PRASAC to support their limited
capital. After selling some pigs, Mrs. Dam Toch
had got better living standards and was able
to repair her house and buy more furniture.
MRS. DAM TOUCH becomes our potential
client; she repays regularly and will pay-off soon.
She said with smiling face and hope that, “I’m
really thankful to PRASAC that always provides
me both financial supports and motivation and
advice to do business so that I can get more
incomes.”
SORN SOKHA, 38, Cake Baker, Pursat
MRS. SOKHA, 38 years old, a cake baker
living in Bambekleach village, Roleab commune,
Sampov Meas district, Pursat province,
described her business story that she’s been
baking egg-powder cake for four years. Previously,
her business was not running well due to the
shortage of capital. Later , after discussing with
her husband, in 2008 she decided to request for
USD 5,000 loan for 24 months from PRASAC
to buy more equipment and materials for
baking the cake. After seeing that her business
getting better with PRASAC’s loan, recently, she
was able to pay-off and request for USD 4,800
loan from PRASAC for the second time to buy
an electronic oven so that she can increase her
productivities to respond to her clients’ needs.
MRS. SOKHA said that, “I am very happy
that my business goes well. I also would like to
thank to PRASAC that provided me financial
resource to extend my business. Moreover, what
I like the most is that PRASAC staffs are friendly
and polite, and the loan assessment is also easy
and fast; that is the reason why I can trust in
PRASAC.”
10
MR. LUN CHHUN HORT, 39, Brick Maker,
Kratie
MR. LUN CHHUN HORT, 39, living in Russey
Jar village, Thmoh Kreih commune, Chet Borey
district, Kratie province, is another successful
client of PRASAC. His main business is producing
brick. Previously, he used to borrow money
from other money lenders and institution, but
since it was too difficult with their lending
process and high interest rates, he decided to
choose PRASAC as his business partner with
financial support. He requested for USD8,000
loan from PRASAC for the first time in 2008
for 24 months by repaying every month. After
seeing fast growth of his business, MR. HORT
made up his mind to pay off the first loan and
requested for USD10,000 loan for second time
to construct a new brick kiln so that he could
increase his productivities to respond to his
customers’ needs and increase more incomes.
Nowadays, MR. HORT’s business is growing
bigger. He also bought a new truck for
transporting his products, and his living standard
also get improved. He said that, “PRASAC is a good
business partner in which I can trust. PRASAC
provides both good service and capital for doing
business with low interest rate. In the future, I
plan to borrow more money from PRASAC to
extend my business.”
11
FINANCIAl PRODUCTS AND ElIGIBlE CRITERIA
a. Financial Products
Group Loan: Group loan is used in which the group members
are self-selected between 2 to 5 members with
one group leader. Each member can borrow
amount of money ranging from
KHR 50,000 to KHR 1,000,000
or
USD 15 to USD 250
within 12 months loan period.
Individual Loan: The target clienteles are micro and small
enterprises. The clients can borrow either in
Riel or Dollar with the amount ranging from
KHR 300,000 to KHR 100,000,000
or
USD 75 to USD 25,000
with the period up to 26 months. The monthly
interest rate is 2.7% to 1.6%.
b. Eligible Criteria
Group Loan: - Group member: 2-5 members, and one is
selected as a group leader
- One member from each
household
- Permanent residents in the
village
- Similar loan purposes
(not homogeneous)
- Age between 18 – 65 years
Individual Loan: - Permanent resident
in the village
- Aged between 18 – 65 years
- Have/show profitable business
- Contribute 20% of their own capital into
the business activity
- Have physical collateral and
personal guarantee
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1516
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OWNERSHIP AND GOVERNANCE
ORGANIZATIONAL
STRUCTURE
SHAREHOLDERS
BOARD
COMMITTEE
BOARD OF
DIRECTORS
MANAGEMENT
BIO is a member of EDFI, the Association of European Development Finance Institutions. BIO participates in
European Financing Partners / EFP, a co-financing facility established by ten of the EDFI-members. Its purpose
is to facilitate the financing of private sector projects in the ACP states in collaboration with the European
Investment Bank.
Dragon Capital Group (DCG) is a diversified investment banking institution offering traditional financial
products and services with an exclusive focus on Vietnamese capital markets. The firm is known both within
Vietnam and international financial circles as one of the premier Vietnam focused financial institutions. Dragon
Capital Group serves the investment banking needs of international and domestic businesses to enable them to
realize their investment goals in Vietnam.
The Netherlands Development Finance Company (FMO) supports the private sector in developing countries
and emerging markets in Asia, Africa, Latin America and Central and Eastern Europe. We do this with loans,
participations, guarantees and other investment promotion activities. Lanka Orix Leasing Company strives to
deliver financial services to its customers with both corporate and rural grass roots level, in every region where it
operates in Sri Lanka. Since its inception in 1980, it has been working with small and medium size entrepreneurs,
which represents over 80% of its client portfolio. The Company innovates continuously in providing adapted
financial solutions such as leasing products, factoring services, savings and deposit products, small loans and
insurance broking services.
Lanka Orix Leasing Company strives to deliver financial services to its customers with both corporate and rural
grass roots level, in every region where it operates in Sri Lanka. Since its inception in 1980, it has been working
with small and medium size entrepreneurs, which represents over 80% of its client portfolio. The Company
innovates continuously in providing adapted financial solutions such as leasing products, factoring services,
savings and deposit products, small loans and insurance broking services.
Oikocredit started as a pioneer in the field of development financing. Today, it is one of the largest financiers
of the microfinance sector worldwide. Oikocredit is one of the few ethical investment funds, which finances
development projects in the South benefiting disadvantaged and marginalized people. Privately owned, Oikocredit
is a unique cooperative society, which encourages investors to invest their funds in a socially responsible manner.
PRASAC Staff Company (PSCo.) was established under the law and general provisions of Kingdom of Cambodia
and has the following objectives: To make equity investments in PRASAC MFI Ltd and to manage the
investments in accordance to high moral and professional standards, with transparency and good governance.
The company might be engaged in any other capital and asset management, investment and trading and other
financial or other activities and services which relate directly or indirectly to the above objectives or similar
purposes, and are characteristic of the development of the company’s operations.14
SHAREHOlDERS
The share capital of the Company as at December
2009 was KHR 15 Billion (Fifteen billion Khmer
Riel) distributed among the five shareholders 18%
each BIO, Dragon Capital Group (DCG), The
Netherlands Development Finance Company (FMO),
Lanka Orix Leasing Company (LOLC), Oikocredit,
and 10% for PRASAC Staff Company (PS Co.).
SHAREHOLDERS % SHAREHOLDING
BIO 18%
DCG 18%
FMO 18%
LOLC 18%
Oikocredit 18%
PSCo 10%
15
BOARD COmmITTEE
Board of Director Committee:
With full capacity of the Board of Directors, the two initial committees were created in order to support the
management in operations.
Audit Committee:
The audit committee comprises of two Board of Directors, i.e. Mr. Michael Temple and Mr. Ranjit Fernando
and Internal Audit Department Manager. The duties of the audit committee are to review the report of the
internal and external audit reports, monitor the integrity of the financial statements, compliance of the
policies and procedures, review the internal control system and risk management of PRASAC, and provide
recommendations for implementation. In addition, the non-executive members will meet the external
auditors twice a year i.e. in September before the external audit starts and in March after the completion of
the external audit assignment. The committee will meet at every three months.
HR and Remuneration Committee:
The key role of this committee is to evaluate the performance of the top management and determine
remuneration for the top management. The committee is composed of Mr. Stefan Harpe and Ms. Anne
Demeuse.
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MR. MICHAEL TEMPLE,
Director, Chairman of the Board, Representative of DCG
MICHAEL was educated in both Hong Kong and Scotland and joined the HSBC
Group as an International Manager in 1977. He worked for HSBC in a number of
areas primarily in the corporate banking and risk management in Germany,
Brunei, Hong Kong, India, Indonesia, Bahrain and Vietnam. His last role in the
HSBC Group was Chief Operating Officer in Vietnam where he worked for 6 years.
He was also the project leader in evaluating the potential of Vietnam as a site for
an HSBC Data Processing and Call Center site. He’s retired from the HSBC Group
in 2005 and became a Director of Dragon Capital, a UK based Investment Bank
and Fund Management Company whose main focus of business is in Vietnam. He
is the Group COO and is part of the committee that evaluates the Groups private
investments. PRASAC is the Dragon Capital Groups’ first investment in Cambodia.
BOARD OF DIRECTORS
MR. STEFAN HARPE,
DIRECTOR, Member of the Board, Representative of Oikocredit
STEFAN is Manager Equity Investments, Oikocredit, Amersfoort, Netherlands;
working with Oikocredit’s local managers in 28 country offices in Africa, Latin
America, Asia and Eastern Europe to manage the private equity investment
portfolio__i) financial (mostly microfinance);__ii) non-financial (businesses with
high development impact);__iii) specialized equity funds. Oikocredit is a global
development finance institution with about € 340 million total assets, funded by
individuals (26,000 shareholders), churches, and institutional investors. While not
profit-maximizing, and balancing dual objectives of development impact and
investment return, Oikocredit is sustainable and generates a healthy surplus on the
total portfolio (loans and equity). Previously, Stefan was Fund Manager, AfriCap
Microfinance Fund, based in, Senegal, and prior to that Director International
Operations, Calmeadow, Toronto, Canada. His formal education includes - MBA,
University of Western Ontario, Canada, and B.Sc (Econ), LSE, England.
MR. ISHARA C. NANAYAKKARA,
Director, Member of the Board, Representative of LOLC
ISHARA is the Deputy Chairman of Lanka ORIX LEASING Company Ltd. He is
the Managing Director of Ishara Traders, the pioneering importer of reconditioned
motor vehicles in Sri Lanka. Having obtained a diploma in Business Accounting
from Australia, he worked in Japan for two years with the largest exporter of
reconditioned motor vehicles Yamagin Corporation, Tokyo. ISHARA is a Director
of Ishara Plantations (Pvt) Ltd, and Ishara Property Development (Pvt) Ltd. Mr. I
C Nanayakkara also serves as a director on the boards of all LOLC subsidiaries.
17
MR. OUM SAM OEUN, DIRECTOR,
Member of the Board, Representative of PSCo.
SAM OEUN used to work as chief accounting officer in Takeo Province commerce
department. Since 1995, he has worked with PRASAC credit program, and he has
attended several training courses related to microfinance operations. He was elected
as Chairman of Board of Director of PRASAC Staff Company (PSCo., Ltd) since
2003, and he was re-elected as the chairman PS Co., Ltd until now. He holds Master
Degree of Business Administration, Bachelor degree in Business Management and
obtained a Diploma in Accounting and Commerce in 1988.
MR. RANJIT MICHAEL SAMUEL FERNANDO,
Director, Member of the Board, Representative of FMO
RANJIT is Team Leader ICT Capacity Building Program, implemented by the
Government of Sri Lanka and funded by the World Bank. He is also a team leader
in consultancy assignment funded by the World Bank for the setting up of the
Housing FinanceCorporation in the Maldives.
He is an expert in Project / SME / Microfinance Financing Specialist, Development
Banking, Legal Aspects relating to credit and Banking, Institutional Development
and Strategic Planning, and Corporate Governance. He holds Attorney at Law
(1st Class Honours), Ceylon Law College, Sri Lanka; Bachelor of Laws (Hons),
University of Sri Lanka; Fellow of the Chartered Institute of Bankers, United Kingdom;
Fellow of the Chartered Institute of Management Accountants, United Kingdom.
MS. ANNE DEMEUSE,
Director, Member of the Board, Representative of BIO
ANNE has been active within BIO nearly since its inception in July 2002. She
initiated BIO’s first investments, mainly in the microfinance sector and SME funds,
and held the position of Senior Investment Officer Asia until the end of 2005. Later
in 2006, she changed to the position of Portfolio Controler, responsible for the
monitoring of BIO’s investments. Before joining BIO, Ms. Demeuse worked in the
banking sector, and more specifically in commercial banking and corporate finance
where she advised for IPOs and trade sale transactions. She also gained audit
experience within Ernst and Young after her graduation. Ms DEMEUSE holds a
degree of Management Engineer from the Solvay Business School.
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mANAGEmENT
MR. SIM SENACHEERT,
General Manager
SENACHEERT holds Master and Bachelor Degrees in Business Administration
and obtained Diploma in Accounting and Finance in 1994. Since 1995, he has
attended several training courses related to microfinance operations and
management. He is also an accredited Microfinance Training of Trainer certified by
ADBI, TDLC of the WB, and UNCDF. He used to work in banking sector, and he
started working with PRASAC since 1995 as Credit Officer and was promoted to
various positions such as accountant, Branch Manager, MB Trainer and Supervisor,
Finance Manager. From mid 2002, he used to hold positions of Branch Manager,
Operation Manager, and Deputy CEO with another MFI before joining PRASAC as
General Manager in late 2003.
MR. OUM SAM OEUN,
Deputy General Manager, Chief Operations Officer
SAM OEUN accredited Micro Finance Training of Trainer certified by ADBI,
TLDC of the WB, and UNCDF, holding MBA of Banking and FinanceHe obtained
a Diploma in Accounting and Commerce in 1988 and holds a Bachelor degree
in Business Management. He used to work as chief accounting office in Takeo
Province commerce department. Since 1995, he has worked with PRASAC credit
program, and he has attended several training courses related to microfinance
operations. He was promoted as Deputy General Manager of PRASAC MFI in
early 2007.
MR. OUM SOPHAN,
Deputy General Manager, Chief Finance Officer
SOPHAN obtained his Bachelor’s Degree in economics, specializing in banking
and finance from the Royal University of Laws and Economics and holds a Master
Degree in Business Administration from Norton University in 2003.
Before joining PRASAC’s team, Sophan had many years of experience in the field
of accounting, banking, and finance. For instance, he used to hold CFO position at
TPC Microfinance Institution from 2003 to 2008. He worked for the National
Bank of Cambodia in various supervisory positions, including credit, planning, and
accounting from 1981 to 1992. He joined Thai Farmers Bank where he served as
Finance and Accounting Supervisor from 1992 to 2001. He also used to work as
Accounting Manager of various private companies. He is currently holding the
position of deputy general manager, chief finance officer.
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MR. YANG KIMSRENG,
Finance Manager
KIMSRENG holds MBA in Finance and Banking, BA in the field of Accounting in 2003
and obtained Associates degree Specialized in Banking in 1998 at the Center for
Banking Study. Also,he has more than ten-year experiences with Micro-banker system
as well as finance and banking. Since 1998, he participated in several training courses
related to microfinance. He joined PRASAC in 1998, and he was promoted to be senior
staff in 2001 and to be Deputy Finance Manager in October 2007 and Finance
Manager in April 2008.
MR. NEANG SOKHIM,
Credit Manager
SOKHIM is an accredited Micro Finance Training of Trainer certified by ADBI,
TLDC of the WB, and UNCDF. He holds Master Degree in Business Administration
and obtained bachelor degree of science in Agronomy in 1997, and he studied two
years of BBA. He has attended many courses related to micro finance operations
and other courses.
He started working in micro finance sector in 1998 as Credit officer, and then he
was promoted to be a Junior Internal Auditor, Senior Internal Auditor, Deputy
Operation Manager, Deputy Credit Manager. Currently, he is holding the position
of Credit Manager.
MR. SAY SONY,
Marketing Manager
SONY is an accredited Microfinance Training of Trainer certified by ADBI, TDLC
of the WB, and UNCDF. He holds master of business administration and bachelor
degree in Marketing Management.
Since 2005, he has attended numerous local and international training courses
in Asia and Europe related to micro finance operations, products development,
research and marketing.
He has more than seven-year experiences in project management as well as
marketing coordination in both social and private sector. He joining PRASAC MFI
in early 2005 as chief marketing, he was promoted to be a Marketing Manager of
PRASAC MFI in 2007.
20
MR. OUK SAROEUNG,
Internal Audit Manager
SAROEUNG holds Master degree of Business Administration and obtained a Bachelor
degree in Banking in 1989. Since 1995, he participated in several training courses
both in local and international including in Asia, Africa and Europe related to
Audit, Finance, Management, and Microfinance. He used to work in banking sector.
Also,he worked for the National Bank of Cambodia at Branch Svay Rieng in various
supervisory positions, including credit and planning from 1983 to 1995. He has more
than ten-year experiences in microfinance. He joined PRASAC in 1995; he was
promoted to be Audit Manager in 2003.
MR. LY SOPHEAKTRA,
IT Manager
SOPHEAKTRA holds M.Sc. IT and MBA of Finance & Banking; He obtained
B.Sc. of IT in 2002 and BA of Accounting & Finance in 2001.
Since 2002, he has attended numerous local and international training courses in
Asia and Europe related to IT/MIS technology, Management, and Microfinance.
He has more than eight-year experience in IT/MIS Management, Database Design
& Report Writing, Financial Accounting, and Microfinance operations. Prior to
joining PRASAC, He used to work for a private construction company. He joined
PRASAC in 2002 as MIS Officer, moving on to be senior staff in 2003 as MIS Unit
Manager, and he was promoted to be IT Department Manager in early 2007.
MR. SUM SINATH,
Branch Support Manager
SINATH accredited Microfinance Training of Trainer certified by ADBI, TDLC
of the WB, and UNCDF, obtained associate degree in Accounting and Finance,
bachelor degree in Business Administration and holds Master degree of Business
Administration.
Moreover, he participated in several training course in career development of
Microfinance skills both in local and oversea courses.
He has more than seven-year experiences in Microfinance sector. He joined PRASAC
in 2002 as credit officer; he was promoted to be branch manager, Regional
Manager and was promoted to be Branch Support Manager in early 2007.
21
MR. SOU VANTHAN
Human Resourse Manager
VANTHAN with more than twenty-year experiences in Microfinance and banking
sectors since 1982 from various positions with PRASAC, NBC, and another MFI
such as credit officer, accountant, micro banker and teller, internal auditor and
field supervisor, district bank manager, provincial credit coordinator, vice-credit
department manager, branch manager, area manager, and regional manager.
Vanthan also participated in many training courses such as TOT Principles of MFIs
and Delinquency Management certified by CGAP & EDA Rural Systems Pvt Ltd,
staff supervision and motivation, Goal Oriented Project planning and other training
courses. Vanthan is a rare resource with deep root of experiences in human
resource management and aspects especially for microfinance institution. Based on
his commitment and management skill, he was promoted from a low level status
to a highly-recognized and appreciative position, and he is currently holding the
position of Human Resourse Manager of PRASAC, standing as a good model for
other staffs.
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OPERATIONAl HIGHlIGHTS
REMARK
FROM
GENERAL
MANAGER
REMARK
FROM
CHAIRMAN
FINANCIAL
PERFORMANCE
HIGHLIGHTS
OPERATIONAL
HIGHLIGHTS
STAFFING
AND
CAPACITY
BUILDING
INTERNAL
CONTROL
AND RISK
MANAGEMENT
MARKETING
AND
SOCIAL
ACTIVITIES
23
REmARK FROm CHAIRmAN
2009 was a challenging year for Cambodia, as it was for all economies around the world. The country
encountered economic slowdown and GDP growth was estimated to be stagnant at 0%. The slowdown impacted
all the main sectors of the economy including agriculture, garments and tourism. However, in late 2009 positive
signs emerged with agribusiness export more than doubling, year-on-year air tourist arrival stop declining, and
domestic credit and inflow of foreign direct investment began to bounce back. The government also started to
diversify the export market. Economic growth in 2010 is forecast to reach around 4%.
By anticipating the impact of the global economic downturn early, more stringent measures were put in place
to screen out unqualified clients as much as possible to ensure that we provided credit only to existing and
established clients so that we were able to manage the risks for ourselves and our clients. Portfolio quality took
priority over portfolio growth. As a result, in spite of turbulent economic environment, PRASAC’s Portfolio at
Risk was the lowest among major microfinance institutions in Cambodia, even though the number of clients
decreased. Though there has been some improvement in the economic environment, the current issues in the
international market place means that we will have to continue in our vigilance and though we anticipate
PRASAC increasing its loan portfolio this year it will not be as rapid growth as previously.
One of the major issues that came out of the economic environment in 2009 was over indebtedness. This has
caused a general rise in the MFI sectors PAR figures and is a concern. PRASAC together with the Cambodian
Microfinance Association is discussing ways that this can be managed with the National Bank Of Cambodia until
such a time the proposed Credit Bureau is up and running.
24
To serve more clients and reduce costs for the clients, we have expanded into new areas by opening new offices.
To be a more responsible lender, to improve client satisfaction and loyalty, reputation and brand value, PRASAC
also established “Client Protection Policy”, which educates our staff on ethical behavior in dealing with clients.
In addition to the office network expansion and the strict measures to maintain good quality of loan
portfolio, efficiency and productivity remain a major challenge. In 2009, the implementation of the new
Flexcube Core Banking system started and it proved to be a challenging task. Our staffs have worked hard in
setting up the new system, and a lot of training courses were conducted on the new software. We believe that this
new technology base will allow the company to further grow and enhance its products and service, and enhance
customer satisfaction. We anticipate switching over to this new system by the end of 2010.
Founded in 1995 as a small rural project, and transformed into a financially viable commercial company
offering microfinance services, PRASAC currently operates through 134 offices and growth in offices will
continue as we move into new provinces and areas. PRASAC has a long history of investing in our
communities through charitable contributions, sponsorships, and workplace giving. PRASAC has sponsored
public events or organizations relating to improving microfinance practice in Cambodia. PRASAC aimed
to be a sustainable company that conducts its business in ways that benefits extend naturally to all
stakeholders, including employees, customers, business partners, the communities in which it operates, and, of
course, shareholders. We believe that our business operation is not only profitable, but also sustainable. We are
currently looking at various options to give back to the communities where we operate and the focus of this will be
finalized with the Board by the middle of 2010.
Our past is defined by adherence to our core values. Our future will be determined by the same commitment to
these values and the solid execution of our strategies.
On behalf of the Board of Directors of PRASAC MFI, I wish to thank PRASAC’s management and staffs for
their hard work and dedication to our customers. I also wish to thank Board of Directors, shareholders,
customers, suppliers, the Royal Government of Cambodia, and especially the National Bank of Cambodia for their
continued support and advice.
MICHAEL A. TEMPLE,
Chairman
25
From financial year 2004 to 2008 were considered as good period which allowed PRASAC to expand its
operations and grow portfolio rapidly from USD6.6 Million to USD60.0 Million by end of 2003 and 2008
respectively. But, due to the global financial crisis and the economic downturn, the operations of PRASAC during
2009 were also affected and it was considered as a difficult period which we had never faced this kind of difficult
external environment during the past five years. Although, we could not escape from the impacts of the global
financial crisis and economic downturn, but we still could manage our operations with remarkable achievements.
And the followings are the highlights of our achievements.
From January to September of 2009, loan portfolio was lower than 2008 portfolio and the disbursement
was slowdown impacted by several factors such as global financial crisis, economic downturn, the multiple
loans / overlapping loans with other MFIs, decrease of portfolio quality, and so on. But the portfolio started
picking up again during the last quarter of 2009 and as a result portfolio growth by 11% to KHR267 Billion
from KHR240 Billion by end of 2009 and 2008 respectively. Portfolio in agricultural decreased from 37% in
2008 to 29% in 2009 while portfolio in trading increased from 33% to 36% and personal loans increased from
12% to 14% at end of 2008 and 2009. The portfolio in agriculture sector was decreased due to the decrease
of group loans. During 2009, in order to avoid overlapping loans, group loan disbursements were reduced. As
part of our social objectives by cooperation with the National Biodigester Project (NBP), we also provided 1213
loans (about USD700,260) to the farmers for renewable energy in 2009 in accumulated there were 2,559 loans
provided to this purpose since November 2007 to December 2009 and PRASAC also contract with ECOSORN
in order to contribute to poverty reduction through the improvement of physical access to financial services such
as credit and savings. PRASAC reaching 13,962 beneficiaries, in which 4,577 borrows, 3,248 savers with
KHR2,780,975,500 of disbursement from November 2007 to December 2009 and PRASAC have established
19 offices in these three provinces ( Siem Reap, Battambang, and Banteay Meanchey ) and operating in 14
districts 40 communes and 91 villages.
REmARK FROm GENERAl mANAGER
26
It was observed that 2009 the portfolio quality of the whole sector was deteriorated due to the
financial crisis, economic downturn, and over indebtedness caused by the overlapping or multiple loans from
different MFIs and banks. Thank to our professional and discipline staffs and our proactive measures we could
maintain our portfolio at-risk ratio below the sector rate. However, our nonperformance loans increased from
0.23% (end of 2008) to 1.66% (end of 2009).
The number of active clients decreased by 12% from 100,116 to 87,945 at the end of 2008 and 2009. The
decrease of number of clients due to the decrease of group loans in order to avoid overlapping loans with other
MFIs during the crisis period. As a result, the group loans decreased by 50% from 19,179 to 9,634 as end of
2008 and 2009. In addition, the individual loans also decreased by 3% in 2009.
Total revenue for 2009 was 12% lower than projections due to the decrease of portfolio and decrease
of interest rate to attract good clients. It increased by 19% compared with 2008. Yield on gross
portfolio decreased from 30.2% to 27% due the increase of larger loans with lower interest rate. The
financial expenses increased by 70% compared with 2008 from 2.6MUSD to 4.5MUSD due to the increase
of borrowing rate during late 2008. The operating increased by 14% and 5.7% higher than projections.
The actual higher than projections caused by the set-up new offices in new area. However, the operating costs
decreased to 13.4% from 15.5% and to 12.5% from 14.8% compared with gross portfolio and total assets
respectively. Net profit was 6% lower than last year. Similar to revenue, the net profit decrease due to slowdown
disbursements and lowering interest rate. Risk coverage ratio decreased from 717% to 128% due to the increase
of non-performing loans during 2009. But, it still could cover this risk. The equity increased by 29% and the
capital was still adequate (CAR was 23.6%).
By taking the opportunity of the slowdown period, we spent our resources to strengthen our
institutional capacity such as increase number of offices from 90 (2008) to 116 (2009) in order to increase
clients’ convenience and cut costs to the clients, increased number of staff from 1,024 to 1,246 by end of 2008
and 2009, selection and implementing new core banking system and as a result there were four offices running
new system parallel with the legacy system.
During 2009, the second credit rating was undertook by Microfinanza rating agency (First rating
undertook by the agency) with the rate of BBB+ and stable outlook. At the same time the first social
rating was also undertook by Microfinanza with rate of BB. Although, the rating was not good, but there were
some strengths and opportunities explored by Microfinanza during the rating.
STRENGTHS OPPORTUNITIES
- Ownership structure defined
- Good geographic coverage in the whole country
- Rather good standardization of processes
- Strong and successful relationship with many
stakeholders (donors, investors, technical
assistance providers, etc.)
- Good capitalization
- Expansion into untapped markets of the country
- Transformation into a deposit-taking institution
- Adoption of the new MIS
- Focus on capacity building given the significant
market share
- New financial products such as social loans
(educational, housing products)
27
By adopting the prudential strategy for 2010, PRASAC will not prioritize on portfolio growth, but will
focus on improving portfolio quality, strengthen management and staff capacity, strengthening
management control, rolling out core banking system to all offices, and introducing new services.
Finally, on behalf of management and staff, I would like to express my sincere thanks to all stakeholders that
always support us and hoping that all stakeholders will continue supporting and help developing PRASAC to
become an institution that will continue provide more benefits to all stakeholders.
Sincerely yours,
SIM SENACHEERT,
General manager
28
FINANCIAl PERFORmANCE HIGHlIGHTS
Portfolio per credit officer increased from 91,127USD in 2007 to 111,353USD in 2008 and increase to •
116,384 USD per credit officer in 2009.
Number of active client per credit officer decreased from 189 clients in 2008 to 163 clients in 2009.•
Portfolio at Risk (30days) increased from 0.23% in 2008 to 1.66% in 2009.
The yield on portfolio decreased from 30.2% in 2008
to 27.0% in 2009 .
2007 2008 2009
Exchange rate 4,003 4,081 4,169
Currency USD USD USD
Total loan outstanding 32,988,091 57,950,559 62,730,902
Total Number of CO 362 529 539
Outstanding per CO 91,127 111,353 116,384
Active client 94,555 100,116 87,945
Active client per CO 261 189 163
Portfolio at Risk 0.22% 0.23% 1.66%
Funding costs increased from 5.5% in 2008 to 6.9%
in 2009.
PRODUCTIVITIES AND EFFICIENCy
PROFITABIlITy
140,000
120,000
100,000
80,000
60,000
40,000
20,000
91,127
Outstanding per CO Portfolio at Risk
111,353 116,384
2007 2008 2009
1.80%1.60%1.40%1.20%1.00%0.80%0.60%0.40%0.20%0.00%
300
250
200
150
100
50
Active client per CO
2007 2008 2009
261189 163
30%
31%32%
29%28%27%26%
24%25%
Yield on portfolio
2007 2008 2009
32%30%
27%
6.0%
7.0%
5.0%
4.0%
3.0%
2.0%
0.0%1.0%
Financial Expense Ratio
2007 2008 2009
5.5%
4.4%
6.9%
29
Operating expenses deceased from 14.8% in 2008
to 12.5 in 2009 compared with average total assets.
In order to improve the efficiency, the plan is to
increase the productivity of credit officers (revised
incentive) and offices through the increasing of loan
officers who will work with the clients.
Return on Assets decreased from 5.8% in 2008 to
4.1% in 2009.
Admin Expenses decreased from 5.5% in 2008 to
3.7% in 2009.
12.0%14.0%16.0%
10.0%8.0%6.0%4.0%
0.0%2.0%
Operating Expense Ratio
2007 2008 2009
15.8%14.8%
12.5%
6.0%
5.0%
4.0%
3.0%
2.0%
0.0%
1.0%
Return On Assets (ROA)
2007 2008 2009
6.0% 5.8%
4.1%
6.0%
5.0%
4.0%
3.0%
2.0%
0.0%
1.0%
Administrative Expense Ratio
2007 2008 2009
5.5%
3.7%
5.5%
30
OperatiOnal HigHligHtS
By the end of 2009, the PRASAC’s loan portfolio reached KHR 267,183 million, increased 11.14 percent
over the previous year.
Loan has been classified as group loan and individual loan that can be disbursed in KHR and USD
currency. The group loan represented 2.45 % where as individual loan represented 97.55% of total
portfolio outstanding. The group loan portfolio outstanding decreased by 5.48% with amount of KHR6,816
million and individual loan increased by 11.66 percent with amount of KHR 260,367 million compared to
previous year.
Loan portfolio in KHR currency grew by 1.87 percent with amount of KHR107,569 million and loan
portfolio in USD currency grew by 18.41 percent with amount of KHR159,614 million.
Loan Portfolio (Figures are in KHR Millions)
By the end of 2009, the number of active borrowers was 87,945 a decrease of 12.16 percent compared to
previous year. In term of product types, group loan borrowers decreased by 49.77%, and individual loan
borrowers decreased by 3.24%. In term of gender. Female borrowers increased by 0.56% while male
borrowers decreased by 22.99% compare to previous year.
Key indicatorsDecember December December Changed Changed
2007 2008 2009 Amount %
Total loan portfolio 134,295 240,394 267,183 26,789 11.14%
Portfolio in group loan 5,491 7,267 6,816 (451) -6.21%
Portfolio in individual loan 128,804 233,128 260,367 27,239 11.68%
Portfolio loan in KHR 68,705 105,598 107,569 1,971 1.87%
Portfolio loan in USD(000) 65,590 134,797 159,614 24,817 18.41%
Key indicatorsDecember December December Changed Changed
2007 2008 2009 Amount %
Total Number of Borrower 94,555 100,116 87,945 (12,171) -12.16%
Group Loan Borrowers 27,237 19,179 9,634 (9,545) -49.77%
Individual Loan Borrowers 67,318 80,937 78,311 (2,626) -3.24%
Female 43,555 46,053 46,311 258 0.56%
Male 51,000 54,064 41,634 (12,430) -22.99%
BORROWERS
lOAN PORTFOlIO
31
At the end of 2009, Portfolio at risk ratio was 1.66% and repayment ratio 97.45%. The good loan
portfolio comes from good portfolio monitoring from all staff level, well trained staff, especially, credit
officers, well established credit policy, and procedures and clear loan work out policy. Staff motivation,
such as incentive that link with loan quality is also a tool for maintaining good portfolio quality. Besides
these, the current MIS system can provide data and information that make availability for staffs to monitor
and follow up and analyze portfolio well.
(PAR amount and principal past due is in Millions)
Key indicatorsDecember December December Changed Changed
2007 2008 2009 Amount %
PAR Amount (30days) 296 543 4,437 3,894 717.13%
Principal Past Due 294 413 3,004 2,591 627.36%
PAR Ratio (30days) 0.22% 0.23% 1.66% 1.43% 621.74%
PAR Ratio (30 days) Group Loan 0.90% 0.01% 3.54% 3.53% 35300.00%
PAR Ratio (30 days) individual Loan 0.19% 0.23% 1.66% 1.43% 621.74%
Repayment Ratio 99.30% 99.30% 97.45% -1.85% -1.86%
lOAN PORTFOlIO QUAlITy
By the end of 2009, PRASAC operated in 21 provinces, 131districts, 1,256 communes, and 8,098 villages,
an increase of 4 provinces, 5 districts, 76 communes, 623 villages compared to previous year. In term of office
net work, there were an increase of 3 branches, 13 sub branches, and 12 service offices compared to previous
year.
In 2009, PRASAC disbursed loan with total amount of KHR 346,313 million an increase of 5.69 percent
over previous year. The total number of loans disbursed in 2009 was 88,735 a decrease of 5.69 percent
compared to previous year. The average disbursed loan size was KHR 3.90 million.
Loan Disbursed (Amounts are in KHR Millions)
Key indicatorsDecember December December Changed Changed
2007 2008 2009 Amount %
Total Number of province 14 17 21 4 23.53%
Total Number of District 100 126 131 5 3.97%
Total Number of Commune 941 1,180 1,256 76 6.44%
Total Number of Village 6,210 7,475 8,098 623 8.33%
Key indicatorsDecember December December Changed Changed
2007 2008 2009 Amount %
Total Disbursed Amount 200,602 327,665 346,313 18,648 5.69%
Total Number of Loans Disbursed 89,010 95,732 88,735 (6,997) -7.31%
Avg Loan Amount Disbursed 2.25 3.42 3.90 0.48 14.02%
OPERATION AREA AND BRANCH NETWORK
lOAN DISBURSEmENT
32
- Currently, PRASAC has employed 1,246 staffs
comprised of 967 males and 279 females.
- In 2009, through this figure, we could also say
that PRASAC’s turnover rate was improved since
it was lower than the past years.
PRASAC needs skillful and knowledgeable staffs
that can carry out their tasks and understand
about micro-finance or banking environment.
With this intention, PRASAC has 24 staffs who
hold Associate Degree, 424 Bachelor Degree, and
18 Master Degree. Moreover, most of them are
improving their education background by
pursuing another degree including 14 in Associate
Degree, 417 in Bachelor Degree, 93 in Master
Degree, 4 in CPA and 3 PhD Degree.
To assure the quality of services, PRASAC pays
more attention to staff development and training
since they started their careers with PRASAC.
The in-house trainings are regularly organized
and provided. PRASAC occasionally provides
the chances to many staffs to participate in the
in-country and oversea courses to gain knowledge
of microfinance development in Cambodia
as well as in global contexts, microfinance
management skills, related technical skills and
regulation of National Bank of Cambodia.
STAFFING AND CAPACITy BUIlDING
STAFFING AND EmPlOymENT TREND
STAFF TRAINING AND DEVElOPmENT
1200
1400
1000
800
600
400
0
200
2007 2008 2009
40152 111
413
1024
1246
311
89
722
Turn Over Total StaffRecruitment
As a result, in the year 2009:
- PRASAC trained 332 new staff
- There were 2,461 participants in refreshment
training in which some of them attended more
than one course during this year.
- For oversea courses, participated by 10
professional staff.
33
PRASAC welcomes people who are interested
in joining a diverse, talented, professional, and
extremely committed team. Every position
at PRASAC, from the bottom to the top,
contributes to understanding of vision and
mission. PRASAC gives opportunity for those
who are interested in a career dedicated to the
poverty alleviation and an institute promoting the
transparency, challenging working condition and
working environment; providing fairness and
accuracy benefit package; and fully following or
extra the Labor Law of Cambodia.
PRASAC offers a competitive benefit pacages as
following:
- Competitive Salary and annually increased
- Working days: 5 days or 40 hours / week
- Education support and facilitation
- Bonus during traditional events (Khmer NewYear,
Pchum Ben)
- 18 days of Annual Leave
- Public holiday as determined by AKNUKRET of
the government
- Maternity Leave and allowance
- Variable salary depending on performance
- Severance Pay
- Annual Incentive at year end up to three months
of current salary
- Insurance on Accident & Health Care program
and indemnity payment for all staff
- Non-financial recognition
- And more…
JOB OPPORTUNITy BENEFITS HIGHlIGHT
34
INTERNAl CONTROl AND RISK mANAGEmENT
To minimize the risk factor, PRASAC’s management
has linked Internal Control to risk management. Risk
management is the process of assessment of relative
risk and ensuring that controls are present and
effective. It covers prevention of potential problems
and the early detection of actual problems when they
occur.
Internal Control is a set of integrated methods and
procedures translated into regular and periodic
activities that preserves safety of asset, improves client
service, ensure reliability of financial information
and staff adherence to management policies and
guidelines. PRASAC’s management uses Internal
Control to ensure a system of accountability along
with prevention of errors and irregularities, Internal
Audit department is an independent appraisal
function under the control of the board of the
directors of PRASAC, the audit committee. Internal
auditing is essential for ensuring the operations,
appropriateness of control and ensuring the
reliability and integrity of financial management
system of keeping record and reporting.
Internal Audit department was started in 2001
with a clear roles and responsibilities to improve
the internal control and analysie risk related to the
operations as well as the compliance by producing
accurate reports on time to branch management and
executive management to take actions.
The internal audit reports are issued monthly based
on each branch with recommendations to respond to
the real cases and findings. Additionally, the summary
of significant findings are issued monthly bases to
Audit Committee as well as the management to
understand the current business situation and trends.
At the beginning of the internal audit role, the
internal control policy and procedures have been
developed and updated accordingly and particularly
with professional staff. As at December 2009 the
total staff of internal audit department consist of
one internal Audit manager, one Deputy Internal
Audit manager, three Audit Unit managers one
Senior Auditor and 13 Audit Assistants working in
three main units such as Operations Internal Audit
Unit, Finance and Admin Internal Audit Unit and IT/
MIS Internal Audit Unit.
As at December 2009, there were 16,098 loan
accounts audited, 20 reports related to Finance,
Human Resource and Admin Department, and 174
reports related to operations.
Through the findings of internal audit assignment
in the full year of 2009, we noticed that the trend
of errors and frauds decreased, and most field staff
shown stronger commitments to comply with
institutional policies and procedures. Moreover, most
of clients are not only satisfied with PRASAC’s
services but also appreciated with our professional
staff with customer care minded.
PRASAC has designed Risk Management tools and
approaches that respond to their specific clients,
lending methodologies, operating environments,
financial and social performance objectives. Each
Department has identified risks by themselves with
mitigation measures in place, but we are in process
of doing.
35
The effective approaches to managing credit risks in PRASAC are included as the following:
• Well-designed screening form for borrowers, careful loan assessment, close monitoring, clear collection
procedures, and active oversight by senior management. Delinquency is understood and addressed promptly
to avoid its rapid spread and potential for significant loss.
• Good portfolio reporting that accurately reflects the status andmonthly trends in delinquency, including
a portfolio-at-risk aging schedule and separate reports by loan product.
36
mARKETING AND SOCIAl ACTIVITIES
PRASAC is the largest MFI in Cambodia in terms
of number of staffs, loan portfolio, office networks,
and coverage areas. By end of 2009, PRASAC had
1,246 staff, 114 offices in 17 provinces/towns, 131
districts, 1,256 communes, 8,098 villages, 87,945
borrowers, total assets 295 billion KHR, and 267
billion KHR loan outstanding about 22% of total
microfinance market shares.
Our clients are village households with repayment
capacity that constitutes up to 90% of all
households located in rural areas where bad roads
and absence of facilities and utilities prevail. Apart
from rural people who generate income from rice
production as well as from farming, PRASAC also
targets micro-enterprises that produce or/and offer
services predominantly to the market.
As mentioned, PRASAC is serving about 11% of total
microfinance clients which 49.5% of those clients
used loans for agricultural livelihoods; particularly,
rice production and other multi-cultivations
including buying seeds, animals, biogas and other
agricultural equipments while 50.5% of loans
utilized for services and trade activities.
PRASAC is continuously building up its corporate
brand image as well as its products via effective
communication strategy and approach. It has
developed a clear communication strategy with
division of internal and external audiences by different
communication tools such as website, annual reports,
newsletters, brochures, calendars, leaflets, posters,
T-shirts, banners, and other mass media
communication via Radio and TV.
As a result, PRASAC had defined its current
positioning in good client perception as a well
managed and reliable MFI as a neighborhood MFI
with deep roots in which communities it operates.
PRASAC MFI goes out of its way to serve its
customers with respect and friendly service.
BRANDING AND COmmUNICATIONSmARKET AND ClIENTS
37
As a deep rooted MFI in community, PRASAC is
intending to stand as a combined social and
commercial oriented company which is to continue
focusing on poverty reduction in Cambodia with
sustainable financial returns.
Environment:
PRASAC’s credit policy does not allow any
involvements with environmental pollutions such as
toxic gas, polluted water, chemical residue, etc. and it
also limits itself not to provide its services to any
activity that may negatively effect to the environment.
However, PRASAC has been joining a national
biodigester program to take part in forest
protection as well as community sanitation. In this
regard, PRASAC provided loans to 1,346
households out of 2,200 plants; it’s about 61% of
total plants constructed by the program as at
December 31, 2008.
Social Ethics:
Apart from commercial and environmental
protection, Social Ethics is another concerning issue.
PRASAC enforces ethical practice not only to field
staffs but also to management levels by creating an
internal rule together with a revised personnel
policy, customer care and service policy to ensure
that all staffs are treated fairly, and to enforce a
common relationship among staffs as well as towards
clients and community as a whole. Particularly a
simple client protection principle was also set to keep
client’s satisfaction and sharing our social ethics to
Cambodian people.
PRASAC provides loans to beneficiaries of
ECOSORN project
PRASAC contracted with ECOSORN project in
order to contribute to poverty reduction through the
improvement of physical access to financial services
such as credit and savings. At the same time, the
project helps increasing the household income;
particularly, through increasing agricultural
productivity and local community empowerment in
selected rural areas of Cambodia.
PRASAC reaches the expected results of the contract
with remarkable achievements, by established 19
offices in 14 districts 40 communes and 91 villages in
three provinces, Siem Reap, Battambang and Banteay
Meanchey. As a result of the cooperation, PRASAC
targeted 13,962 beneficiaries in which 4,577
borrowers, 3,248 savers with KHR2,780,975,500
of disbursement amount from November 2007 to
December31, 2009 in ECOSORN target communes.
SOCIAl ACTIVITIESENVIRONmENTAl AND SOCIAl ETHICS
38
At the same time, PRASAC also provides financial
literacy to the poor
Besides credit operations, under the support of
ECOSORN project, PRASAC also provides financial
literacy training to the households in three provinces.
Particularly, this training focused on two modules
such as “Savings” and “Budgeting” for the
purpose of increasing the household’s understanding
on households’ savings and savings disciplines on how
to set savings goal and make savings plan, and how to
analyze their family’s financial situation.
As a result, in 2009, we organized 74 courses
conducted in three provinces, Battambang, Banteay
Meanchey and Siem Reap with total of 3,467
participants in which 74% are women. From this
social commitment, we hope that the household
living standards will get more improvement, the rate of
migration from remote areas will be reduced and
there will be more saving increment and alleviation
of high risk from emergency expense.
PRASAC’s provide loan for Biodigester Production
Relation to the Millennium Development Goals,
PRASAC has been collaborating with the National
Biodigester Programme (NBP) since 30th November
2007. In terms of social responsibility, the
collaboration is not only for poverty reduction but
also environment protection since it can save on
traditional energy sources, fossil energy sources and
improving soil fertility.
To comply with the partnership goal, PRASAC has
formed the new biogas loan product to serve the
people who plan to buy the biogas production in 8
biodigester programme provinces, Prevey Veng, Svay
Rieng, Kadal, Takeo, Kampong Speu, Kampot,
Kampong Cham, and Kampong Chhnanng.
As a result, by December 2009, PRASAC served
2,559 clients with convenience services, low
interest rate with total of USD1,450,670 loan
disbursement. Moreover, besides getting easier with
renewal energy resource especially the use of biogas
cooker instead of firewood, the biogas also help
protect human health as well as reduce indoor
environmental pollution with the improvement of
hygienic circumstances and dung management.
39
PRASAC Sponsors Buy Cambodian Products
Campaign
The Phnom Penh Small and Medium Industry
Association (PSMIA) organized a trade fair “Buy
Cambodian Products” on the occasion of Water
Festival in 2009. As the main sponsor of this event,
PRASAC objectively expects to take part in promoting
the campaign in order to improve the quality of local
products to be more standardized and competitive if
compared to the imported products. This is expected
that Cambodian people will change their habits for
consuming or buying our local products instead.
Concerning with this, PRASAC is willing to promote
Small and Medium Enterprise (SME) for better
competitive position in the market.
PRASAC contributes to build youth capacity and
career development
As always being part of building quality of education
as well as growing human roots of Cambodia,
PRASAC has actively joined as co-sponsor for
various educational events such as Career Guidance
for the Future, Outstanding Student Talk Program,
and Student Best Speakers Program prepared by
The Cambodian Mekong University for improving
the quality of education in Cambodian and developing
their critical thinking and understanding through
multiple perspectives. PRASAC also joined as
co-sponsor for Life Preparation for Success seminar
which was organized by Help Our Homeland
Association for building youth capacity and
competency especially leading them to be ready for
decision making and preparation for their life and
growth for the future.
All Cambodian students are the significant human
capital for fueling the economic growth and moving
the country out of the poverty trap. Consequently,
PRASAC is always willing to provide support in such
meaningful events to produce more challenging
output and increase more economic growth and
poverty reduction through PRASAC social
contribution.
PRASAC’s Presence at Banking and Microfinance
Events
As an active microfinance practitioner, PRASAC
joins in many microfinance and banking events as
a contribution sponsor as well as to expose itself
to the government, all banking and microfinance
sectors and other private companies and NGOs.
PRASAC joined in a Baking Exhibition 2009
organized by NiDA and IDG, Modernization of the
Banking and Microfinance Industry in Cambodia
hosted by the NBC, the Cambodia Microfinance
Conference by MoEF and IDG and PRASAC was also
present at the Cambodia’s Microfinance amid the
Global Crisis by focusing on how microfinance
institution could boost the country’s economy,
promote financial inclusion and enhance customer
protection. Within the hard time of economic crisis,
PRASAC is not only a key financial service provider
but also a good protector for its clients in terms of
interest rate reduction and careful client assessment
preventing from over indebtedness.
40
41
REPORT OF
THE BOARD
OF DIRECTORS
46
REPORT OF
THE INDEPENDENT
AUDITORS
AUDITED FINANCIAl STATEmENTS
47
BALANCE
SHEET
48
INCOME
STATEMENT
48
STATEMENT OF
CHANGES IN
EqUITY
49
STATEMENT OF
CASH FLOWS
The Board of Directors have pleasure in submitting
their report together with the audited financial
statements of PRASAC Microfinance Institution
Limited (“the Company” or “PRASAC”) for the year
ended 31 December 2009.
PRINCIPAl ACTIVITy
RESERVES AND PROVISIONS
BAD AND DOUBTFUl lOANS
PRASAC is engaged primarily in the provision of
micro-finance services to the rural population of
Cambodia through its headquarters in Phnom Penh
and various provincial offices in the Kingdom of
Cambodia.
There were no material movements to or from
reserves and provisions during the financial year
other than as disclosed in the financial statements.
Before the income statement and balance sheet of
the Company were prepared, the Board of Directors
took reasonable steps to ascertain that actions had
been taken in relation to the writing off of bad loans
and the making of allowance for doubtful loans, and
satisfied themselves that all known bad loans had
been written off and adequate allowance had been
made for bad and doubtful loans.
At the date of this report, the Board of Directors is
not aware of any circumstances, which would render
the amount written off for bad loans, or the amount
of allowance for doubtful loans in the financial
statements of the Company, inadequate to any
substantial extent.The financial results of the Company for the year
ended 31 December 2009 were as follows:
KHR’000
Profit before income tax 14,708,981
Income tax expense (3,551,075)
Profit for the year 11,157,906
FINANCIAl RESUlTS
REPORT OF THE BOARD OF DIRECTORS
41
CURRENT ASSETS
Before the income statement and balance sheet of
the Company were prepared, the Board of
Directors took reasonable steps to ensure that any
current assets, other than debts, which were unlikely
to be realised in the ordinary course of business at
their value as shown in the accounting records of the
Company had been written down to an amount which
they might be expected to realise.
At the date of this report, the Board of Directors is
not aware of any circumstances,which would render
the values attributed to the current assets in the
financial statements of the Company misleading.
VAlUATION mETHODS
CHANGE OF CIRCUmSTANCES
At the date of this report, the Board of Directors is not
aware of any circumstances which have arisen which
render adherence to the existing method of valuation
of assets and liabilities in the financial statements of
the Company as misleading or inappropriate.
At the date of this report, the Board of Directors is
not aware of any circumstances, not otherwise dealt
with in this report or the financial statements of the
Company, which would render any amount stated in
the financial statements misleading.
The results of the operations of the Company for the
financial year were not, in the opinion of the Board
of Directors, substantially affected by any item,
transaction or event of a material and unusual
nature.
There has not arisen in the interval between the end
of the financial year and the date of this report any
item, transaction or event of a material and unusual
nature likely, in the opinion of the Board of Directors,
to affect substantially the results of the operations of
the Company for the current financial year in which
this report is made.
ITEmS OF UNUSUAl NATURE
42
At the date of this report, there does not exist:
(a) any charge on the assets of the Company
which has arisen since the end of the
financial year which secures the
liabilities of any other person;
(b) any contingent liability in
respect of the Company that has
arisen since the end of the financial year
other than in the ordinary course of its
business operations.
No contingent or other liability of the Company has
become enforceable, or is likely to become
enforceable within the period of twelve months after
the end of the financial year which, in the opinion
of the Directors, will or may substantially affect the
ability of the Company to meet its obligations as and
when they fall due.
CONTINGENT AND OTHER lIABIlITIES
EVENTS SINCE THE BAlANCE SHEET DATE
No significant events occurred after the balance sheet
date that requires disclosure or adjustment other than
those already disclosed in the accompanying notes to
the financial statements.
The members of the Board of Directors during the
year and at the date of this report are:
MR. MICHAEL A. TEMPLE,•
representing Dragon Capital Group Limited,
(Chairman)
MRS. ANNE DEMEUSE,•
representing Belgian Investment Company
for Developing Countries SA, (Director)
MR. RANJIT FERNANDO, •
representing the Nederlandse
Financierings-Maatschappij voor
Ontwikkelingslanden N.V., (Director)
MR. ISHARA C. NANAYAKKARA,•
representing Lanka ORIX LEASING
Company Ltd, (Director)
MR. STEFAN A.V. HARPE, •
representing Oikocredit, Ecumenical
DevelopmentCooperative Society,
U.A., (Director)
MR. OUM SAM OEUN,•
representing PRASAC Staff Company Ltd.,
(Director)
All members are non-executive board members,
except MR. OUM SAM OEUN, who holds the position
of Deputy General Manager.
THE BOARD OF DIRECTORS
43
DIRECTORS’ INTERESTS
The Directors are representing the interests of shareholders of PRASAC during the year and at the date of this
report are as follows:
SHAREHOLDER REPRESENTED BY HOLDING
%
NUMBER OF SHARES
KHR 20,000 EACH
Dragon Capital Group Limited MR. MICHAEL A.
TEMPLE
18% 138,626
Belgian Investment Company for
Developing Countries SA (BIO)
MRS. ANNE
DEMEUSE
18% 138,626
The Nederlandse
Financierings Maatschappij voor
Ontwikkelingslanden N.V.(FMO)
MR. RANJIT
FERNANDO
18% 138,626
Lanka ORIX LEASING Company Ltd
(LOLC)
MR. ISHARA C.
NANAYAKKARA
18% 138,626
Oikocredit, Ecumenical Development
Cooperative Society, U.A.
MR. STEFAN A. V.
HARPE
18% 138,626
PRASAC Staff Company Ltd. MR. OUM SAM OEUN 10% 77,020
100% 770,150
DIRECTORS’ BENEFITS
During and at the end of the financial year, no arrangements existed to which the Company is a party with
the object of enabling Directors of the Company to acquire benefits by means of the acquisition of shares in or
debentures of the Company or any other body corporate.
Since the end of the previous financial year, no Director of the Company has received or become entitled to
receive any benefit (other than a benefit included in the aggregate amount of emoluments received or due and
receivable by the Directors as disclosed in the financial statements) by reason of a contract made by the
Company or a related corporation with a firm of which the Director is a member, or with a company in which
the Director has a substantial financial interest other than as disclosed in the financial statements.
44
The Board of Directors is responsible for ascertaining that the financial statements are properly drawn up so as
to give a true and fair view of the financial position of the Company as at 31 December 2009, and of the results
of its operations and its cash flows for the year then ended. In preparing these financial statements, the Board
of Directors is required to:
(i) adopt appropriate accounting policies which are supported by reasonable and prudent judgments
and estimates and then apply them consistently;
(ii) comply with Cambodian Accounting Standards and the guidelines issued by the National Bank of
Cambodia or, if there have been any departures in the interest of true and fair presentation, ensure
that these have been appropriately disclosed, explained and quantified in the financial statements;
(iii) maintain adequate accounting records and an effective system of internal controls;
(iv) prepare the financial statements on a going concern basis unless it is inappropriate to assume that
the Company will continue operations in the foreseeable future; and
(v) control and direct effectively the Company in all material decisions affecting the operations and
performance and ascertain that such have been properly reflected in the financial statements.
The Board of Directors confirms that the PRASAC has complied with the above requirements in preparing the
financial statements.
On behalf of the Board of Directors
MICHAEL A. TEMPLE,
Chairman
17 March 2010
RESPONSIBIlITIES OF THE BOARD OF DIRECTORS IN RESPECT OF THE FINANCIAl STATEmENTS
45
REPORTOF THE INDEPENDENT AUDITORSTO THE SHAREHOlDERS
46
KPMG Cambodia LtdNo 2 Street 208sangkat Beoung ProlitKhan 7 Makara Phnom PenhKingdom of Cambodia
REPORT OF THE INDEPENDENT AUDITORSTo the shareholdersPRASAC Microfinance Institution Limited
Telephone +855 (23) 216 899Fax +855 (23) 217 279internet www.kpmg.com
We have audited the accompanying financial statements of PRASAC Microfinance Institution Limited (“the Company” or “PRASAC”), which comprise the balance sheet as at 31 December 2009, and the income statement, statement of changes in equity and statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes as set out on pages 8 to 65.
Management’s Responsibility for the Financial Statements
The Company’s management is responsible for the preparation and fair presentation of these financial statements in accordance with Cambodian Accounting Standards and the guidelines of the National Bank of Cambodia relating to the preparation and presentation of the financial statements. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with relevant ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting principles used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Opinion
In our opinion, the financial statements give a true and fair view of the financial position of PRASAC as at 31 December 2009, and of its financial performance and its cash flows for the year then ended in accordance with Cambodian Accounting Standards and the guidelines of the National Bank of Cambodia relating to the preparation and presentation of the financial statements.
The accompanying financial statements have been translated into United States Dollars solely for presentation purposes.We have audited the translation and, in our opinion, the financial statements expressed in Khmer Riel have been translated into United States Dollars on the basis as set forth in Note 4 to the financial statements.
For KPMG Cambodia Ltd
Craig McDonaldAudit Partner
Phnom Penh
17 March 2010
BAlANCE SHEET AS AT 31 DECEmBER 2009
2009 2008
NOTE KHR’000 US$ KHR’000 US$
ASSETS
Cash on hand 5 1,923,944 461,488 1,870,985 458,462
Deposits and placements with banks 6 18,198,317 4,365,152 794,586 194,704
Placement with other financial institution 15,743 3,776 - -
Statutory deposits 7 830,292 199,159 824,390 202,007
Loans to customers 8 261,525,129 62,730,902 236,496,230 57,950,559
Other assets 9 5,406,607 1,296,859 6,009,722 1,472,610
Deferred tax assets 10 606,641 145,512 407,822 99,932
Intangible assets 11 3,946,405 946,607 - -
Property and equipment 12 3,071,960 736,858 1,610,306 394,586
Total assets 295,525,038 70,886,313 248,014,041 60,772,860
LIABILITIES AND SHAREHOLDERS’ EqUITY
LIABILITIES
Deposits from customers 13 2,006,347 481,254 254,872 62,453
Borrowings 14 191,696,755 45,981,471 156,973,112 38,464,375
Other liabilities 15 3,872,979 928,995 4,669,225 1,144,137
Provision for income tax 10 3,109,199 745,790 3,427,838 839,951
Provision for retirement benefits 16 3,531,731 847,141 2,365,976 579,754
Share subscription received in advance 17 - - 172,897 42,366
Total liabilities 204,217,011 48,984,651 167,863,920 41,133,036
SHAREHOLDERS’ EqUITY
Share capital 18 15,403,000 3,694,651 15,403,000 3,774,320
Other reserves 5,216,423 1,251,241 2,282,879 559,392
Retained earnings 25,031,027 6,004,084 16,806,665 4,118,271
Net shareholders’ equity 45,650,450 10,949,976 34,492,544 8,451,983
Subordinated debt 19 45,657,577 10,951,686 45,657,577 11,187,841
Total shareholders’ funds 91,308,027 21,901,662 80,150,121 19,639,824
Total liabilities and shareholders’ equity 295,525,038 70,886,313 248,014,041 60,772,860
The accompanying notes form part of these financial statements.
47
The accompanying notes form part of these financial statements.48
2009 2008
NOTE KHR’000 US$ KHR’000 US$
Interest income 20 68,130,025 16,342,055 55,810,063 13,675,585
Interest expenses 21 (15,952,420) (3,826,438) (10,724,492) (2,627,908)
Net interest income 52,177,605 12,515,617 45,085,571 11,047,677
Other operating income 22 526,846 126,372 991,656 242,993
Operating income 52,704,451 12,641,989 46,077,227 11,290,670
Fee and commission expenses 23 (189,722) (45,508) (118,317) (28,992)
Operating and other expenses 24 (36,878,729) (8,845,941) (29,337,352) (7,188,765)
Provision for bad and doubtful loans 8 (2,116,245) (507,615) (1,830,417) (448,522)
Profit from operations 13,519,755 3,242,925 14,791,141 3,624,391
Grant income 25 1,189,226 285,255 486,889 119,306
Profit before income tax 14,708,981 3,528,180 15,278,030 3,743,697
Income tax expense 10 (3,551,075) (851,781) (3,787,266) (928,024)
Net profit for the year 11,157,906 2,676,399 11,490,764 2,815,673
The accompanying notes form part of these financial statements.
INCOmE STATEmENT FOR THE yEAR ENDED 31 DECEmBER 2009
SHARE CAPITAL KHR’000
SUBORDINATED DEBT
KHR’000
OTHER RESERVES
KHR’000
RETAINED EARNINGS
KHR’000TOTAL
KHR’000
Balance as at 1 January 2008 5,408,000 45,657,577 - 7,598,780 58,664,357
Issuance of share capital 9,995,000 - - - 9,995,000
Transfers of special reserve - - 2,282,879 (2,282,879) -
Net profit for the year - - - 11,490,764 11,490,764
Balance as at 31 December 2008 15,403,000 45,657,577 2,282,879 16,806,665 80,150,121
Net profit for the year - - - 11,157,906 11,157,906
Transfers of special reserve * - - 2,282,879 (2,282,879) -
Transfers of ICO loan reserve ** - - 650,665 (650,665) -
Balance as at 31 December 2009 15,403,000 45,657,577 5,216,423 25,031,027 91,308,027
(US$ equivalents) 3,694,651 10,951,686 1,251,241 6,004,084 21,901,662
* Special reserve represents reserves transferred from net profit which are calculated based on 5% of
subordinated debt. The amount is non-distributable.
** ICO loan reserve represents reserves transferred from net profit for the year which are calculated
based on 3.5% of outstanding principal of loan obtained from Instituto De Crédito Oficial of the
Kingdom of Spain. The amount is non-distributable.
STATEmENT OF CHANGES IN EQUITyFOR THE yEAR ENDED 31 DECEmBER 2009
2009 2008
NOTE KHR’000 US$ KHR’000 US$
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities 26 (10,857,637) (2,604,374) (92,919,092) (22,768,707)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of intangible assets (3,948,331) (947,069) - -
Purchase of property and equipment (2,351,330) (564,003) (761,987) (186,716)
Proceeds from disposals of property and equipment 78,985 18,946 58,579 14,354
Net cash used in investing activities (6,220,676) (1,492,126) (703,408) (172,362)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceed from issue share capital - - 9,337,445 2,288,029
Proceeds from borrowings 50,707,141 12,162,902 96,568,200 23,662,877
Repayments of borrowings (15,983,498) (3,833,893) (20,444,268) (5,009,622)
(Repayment)/receipt of share subscription received in advance (172,897) (41,472) 172,897 42,366
Net cash generated from financing activities 34,550,746 8,287,537 85,634,274 20,983,650
Net increase / (decrease) in cash and cash equivalents 17,472,433 4,191,037 (7,988,226) (1,957,419)
Cash and cash equivalents at beginning of year 2,665,571 653,166 10,653,797 2,661,453
Translation difference (13,787) - (50,868)
Cash and cash equivalents at end of year 27 20,138,004 4,830,416 2,665,571 653,166
STATEmENT OF CASH FlOWS FOR THE yEAR ENDED 31 DECEmBER 2009
49
The accompanying notes form part of these financial statements.
NET CASH FlOWS FROm OPERATING ACTIVITIES
2009 2008KHR’000 US$ KHR’000 US$
Profit before income tax 14,708,981 3,528,180 15,278,030 3,743,697Adjustments for:Retirement benefits 1,241,028 297,680 1,022,471 250,544Depreciation and amortisation 854,359 204,931 528,822 129,581Provision for bad and doubtful loans 2,116,245 507,615 1,830,417 448,522Gain on disposals of property and equipment (42,767) (10,259) (38,905) (9,533)Property and equipment written off 1,025 246 905 222
Operating profit before changes in operating assets and liabilities 18,878,871 4,528,393 18,621,740 4,563,033
Decrease/(increase) in operating assets:Statutory deposits (5,902) (1,416) (499,750) (122,458)Loans to customers (27,145,144) (6,511,188) (106,275,319) (26,041,490)Other assets 603,115 144,666 (2,500,682) (612,762)Increase/(decrease) in operating liabilities:Deposits from customers 1,751,475 420,119 (760,774) (186,418)Other liabilities (796,246) (190,992) 936,878 229,571Cash used in operations (6,713,831) (1,610,418) (90,477,907) (22,170,524)Retirement benefits paid (75,273) (18,055) (174,905) (42,858)Income tax paid (4,068,533) (975,901) (2,266,280) (555,325)Net cash used in operating activities (10,857,637) (2,604,374) (92,919,092) (22,768,707)
51
OFFICE NETWORKWITH CONTACT ADDRESS
Nº 25, St 294& 57, Boeung Kengkang1,
Chamkarmon, Phnom Penh, Cambodia.
P.O.Box : 2412
Tel : 023 220 102 / 023 213 642
Fax : 023 216 362
Email : [email protected]
Website : www.prasac.com.kh
HEAD OFFICE
BRANCH TUOl KORK
Nº 143-144, Road Nº 273, 14 Village,
Sangkat Boeng Kak Muoy,
Khan Tuol Kork, Phnom Penh.
Contact Person : Mr. Pheng Chantivea
Contact Phone : 015 698 496 / 012 869 492
Email : [email protected]
SUB BRANCH BAEK CHAN
Chong Bangkoul Village, Baek Chan Commune,
Angk Snuol District, Kandal Province.
Contact Person : Mr. Luch ChamRoeurn
Contact Phone : 015 698 604 / 023 355 044
Email : [email protected]
SUB BRANCH PREK KDAM
Tuol Ngouk Village, Kampong Luong Commune,
Ponhea Lueu District, Kandal Province.
Contact Person : Mr. San Sovuthy
Contact Phone : 015 698 606 / 024 399 024
Email : [email protected]
SUB BRANCH PREK ANCHANH
Kraom Village, Prek Anchanh Commune,
MukhKampul District, Kandal Province.
Contact Person : Mr. Heng Khunthy
Contact Phone : 015 698 615 / 024 390 016
Email : [email protected]
SERVICE OFFICE ROKA KAONGRoka Kaong Village, Roka Kaong 1 Commune,
Mukh Kampul District, Kandal Province.
Contact Person : Mr. Lim Ratanak
Contact Phone : 015 698 615 / 012 318 262
SUB BRANCH KAMPONG POPIL
Kampong Popil Village, Kampong Popil Commune,
Pea Reang District, Prey Veng Province.
Contact Person : Mr. San Pheakdei
Contact Phone : 015 698 622 / 012 643 634
Email : [email protected]
SERVICE OFFICE PEA REANGSnay Pol Village, Roka Commune,
Pea Reang District, Prey Veng Province.
Contact Person : Mr. Ok Sorphea
Contact Phone : 015 698 622 / 012 418 212
SERVICE OFFICE TUEK KHLEANGTuek Khleang Village, Tuek Khleang Commune,
Lvea Aem District, Kandal Province.
Contact Person : Mr. Chheng Rithy
Contact Phone : 015 698 622 / 012 317 154
SUB BRANCH PREAEKTAKOV
Leu Village, Svay Chrum Commune,
Khsach Kandal District, Kandal Province.
Contact Person : Mr. Chum Rithy
Contact Phone : 015 698 620 / 012 500 321
SUB BRANCH POCHENTONG
PorProkCheung Village, Kakab Commune,
Dangkao District, PhnomPenh.
Contact Person : Mr. Ek Sophal
Contact Phone : 015 698 517 / 012 923 729
52
BRANCH TAKHmAOKrapeu Ha Village, Preaek Ruessei
Commune, Ta Khmao District,
Kandal Province.
Contact Person : Mr. Em Samnga
Contact Phone : 015 697 363 / 012 777 611
Email : [email protected]
SERVICE OFFICE PHSAR DAEUM THKOVNo 457EoE1, St 271 number1 Village,
Sangkat Phsar Daeum Thkov,
Khan Chamkar Mon, Phnom Penh.
Contact Person : Mr. Ly Kimhom
Contact Phone : 015 697 408 / 012 992 373
Email : [email protected]
SUB BRANCH KOH THOM
Kampong Svay Kraom Village, Preaek Thmei
Commune, Koh Thom District, Kandal Province.
Contact Person : Mr. Dop Phirum
Contact Phone : 015 697 461 / 012 489 786
Email : [email protected]
SERVICE OFFICE KAMPONG KONGKampong Kong Village, Kampong Kong Commune,
Koh Thom District, Kandal Province.
Contact Person : Mr. Tech Menghor
Contact Phone : 015 697 461 / 092 981 788
SUB BRANCH SAANG
Preaek Run Village, Preaek Koy Commune,
Saang District, Kandal Province.
Contact Person : Mr. Heng Chantra
Contact Phone : 015 697 429 / 012 761 624
Email : [email protected]
SERVICE OFFICE PREK AMBELTraeuy Troeng Village, Preaek Ambel Commune,
Saang District, Kandal Province.
Contact Person : Mr. San Chheang
Contact Phone : 015 697 429 / 012 297 387
SUB BRANCH KANDAL STUENG
Svay Ming Village, Barku Commune,
Kandal Stueng District, Kandal Province.
Contact Person : Mr. Kong Ty
Contact Phone : 015 697 451 / 012 536 053
Email : [email protected]
SUB BRANCH KIEN SVAY
Tuol Tnaot Village, Kokir Commune,
Kien Svay District, Kandal Province.
Contact Person : Mr. Va Rithy
Contact Phone : 015 697 485 / 016 961 061
Email : [email protected]
SERVICE OFFICE CHHEU TEALChheu Teal Village, Chheu Teal Commune,
Kien Svay District, Kandal Province.
Contact Person : Mr. San Sen
Contact Phone : 015 697 485 / 016 376 098
SUB BRANCH SAMPOV POUN
Kaoh Tiev (Ka) Village, Sampov Poun Commune,
Kaoh Thom District, Kandal Province.
Contact Person : Mr. Ly MengHong
Contact Phone : 015 697 509 / 012 427 229
Email : [email protected]
BRANCH KAmOPONG SPEU
Mukh Khett Village, Roka Thum
Commune, Chbar Mon District,
Kampong Speu Province.
Contact Person : Mr. Im Buntha
Contact Phone : 015 697 041 / 016 707 104
Email : [email protected]
SUB BRANCH CHBAR MON
Mukh Khett Village, Roka Thum Commune,
Chbar Mon District, Kampong Speu Province.
Contact Person : Mr. Em Sokha
Contact Phone : 015 697 081 / 012 777 610
53
BRANCH TAKEO
Thnal Baek Village, Roka Krau
Commune, Doun Keo City,
Takeo Province.
Contact Person : Mr. Sras Pheakdey
Contact Phone : 015 697 931 / 012 472 455
Email : [email protected]
SUB BRANCH DAUN KEO
Thnal Baek Village, Roka Krau Commune,
Doun Keo City, Takeo Province.
Contact Person : Mr. Em Pheng
Contact Phone : 015 697 932 / 012 890 939
Email : [email protected]
SUB BRANCH ANG TASOM
Angk Ta Saom Village, Angk Ta Saom Commune,
Tram Kak District, Takeo Province.
Contact Person : Mr. Suon Yon
Contact Phone : 015 697 934 / 012 463 019
Email : [email protected]
SUB BRANCH KIRI VONG
Kampong Village, Preah Bat Choan Chum
Commune, Kiri Vong District, Takeo Province.
Contact Person : Mr. Prak Lon
Contact Phone : 015 697 899 / 012 525 903
Email : [email protected]
SERVICE OFFICE PHSAKIRIDei Kraham Village,Prey Rumdeng Commune,
Kiri Vong District, Takeo Province.
Contact Person : Mr. Chab Camreun
Contact Phone : 015 697 899 / 092 636 977
Email : [email protected]
SUB BRANCH KAMPONG CHREY
Kampong Chrey Village,Smaong Commune,
Treang District, Takeo Province.
Contact Person : Mr. Chuong Sam Oeun
Contact Phone : 015 697 862 / 012 602 526
Email : [email protected]
SUB BRANCH PHNOMSROUCH
Phsar Trapeang Kraloeng Village, Kiri Voan
Commune , Phnum Sruoch District,
Kampon Speu Province.
Contact Person : Mr. Ouk sovatheaPheap
Contact Phone : 015 697 058 / 012 904 072
Email : [email protected]
SUB BRANCH ODONG
Bat Doeng Village, Khsem Khsan Commune,
Odong District, Kampong Speu Province.
Contact Person : Mr. Ten Eath
Contact Phone : 015 697 095 / 012 400 412
Email : [email protected]
SERVICE OFFICE SAMRAONG Monourom Village, Monourom Commune,
Thpong District, Kampong Speu Province.
Contact Person : Mr. Tol Men
Contact Phone : 015 697 095 / 012 308 602
SUB BRANCH KONG PISEI
Tram Khnar Village, Snam Krapeu Commune,
Kong Pisei District, Kampong Speu Province.
Contact Person : Mr. Hun Bunrith
Contact Phone : 015 697 085 / 012 581 009
Email : [email protected]
SUB BRANCH SLAB LEAENG
Phsar Slab Leaeng Village, Svay Rumpea Commune,
Basedth District, Kampong Speu Province.
Contact Person : Mr. Muy Thet
Contact Phone : 015 697 088 / 012 410 709
Email : [email protected]
SUB BRANCH THNAL TORTEUNG
Thnal Totueng Village, Damnak Ampil Commune,
Angk Snuol District, Kandal Province.
Contact Person : Mr. Yun Sopheak
Contact Phone : 015 697 102 / 012 997 967
Email : [email protected]
54
SUB BRANCH PREY KABBAS
Prey Lvea Kaeut Village, Prey Lvea Commune,
Prey Kabbas District, Takeo Province.
Contact Person : Mr. Y Yoeun
Contact Phone : 015 697 941 / 012 500 823
Email : [email protected]
SERVICE OFFICE ANGKOR BOREIKampong Luong Village, Angkor Borei Commune,
Angkor Borei District, Takeo Province.
Contact Person : Mr. Neak Bunthan
Contact Phone : 015 697 941 / 012 877 113
SUB BRANCH BATI
Seiha Village, Chambak Commune,
Bati District, Takeo Province
Contact Person : Mr. Chhun Bunna
Contact Phone : 015 697 848 / 024 393 035
Email : [email protected]
SUB BRANCH ROMENH
Chambak Ph’aem Village,Romenh Commune,
Kaoh Andaet District, Takeo Province.
Contact Person : Mr. Khat Nel
Contact Phone : 015 697 898 / 012 914 301
Email : [email protected]
Nº149, Kampong Bay Khang Cheung
Village, Kampong Bay Commune,
Kampot City, Kampot Province.
Contact Person : Nhet Rith
Contact Phone : 012 423 125 / 099 816 434
Email : [email protected]
SUB BRANCH BANTEAY MEAS
Prey Krala Khang Lech Village,
Tuk Meas Khang Lech Commune,
Banteay Meas District, Kampot Province.
Contact Person : Mr. Sam Try
Contact Phone : 015 697 802 / 012 299 406
Email : [email protected]
BRANCH KAmPOT
SUB BRANCH CHHUK
Sat Pong Village, Sat Pong Commune,
Chhuk District, Kampot Province.
Contact Person : Mr. Kun Sokhornpagna
Contact Phone : 015 697 895 / 012 963 337
Email : [email protected]
SUB BRANCH KAMPONG TRACH
Kampong Trach Ti Muoy Village, Kampong Trach
Khang Kaeut Commune, Kampong Trach District,
Kampot Province.
Contact Person : Mr. Suth Samnang
Contact Phone : 015 697 561 / 012 385 598
Email : [email protected]
SUB BRANCH ANGKOR CHEY
Pral Village, Tany Commune, Angkor Chey District,
Kampot Province.
Contact Person : Mr. Tith Sok Chea
Contact Phone : 015 697 803 / 012 607 942
SUB BRANCH PREY NOP
Group5, Samrong Krom Village, Samrong
Commune, Prey Nop District, Shihanouk Province.
Contact Person : Mr. San Tha
Contact Phone : 015 697 819 / 012 766 081
Email : [email protected]
Nº145, Street, Mittapheap Street,
Village1, Sangkat 2, Preah Sihanouk
City, Preah Sihanouk Province.
Contact Person : Mr. Lim Lakg
Contact Phone : 015 697 996 / 012 622 398
E-mail : [email protected]
SUB BRANCH STEUNG HAV
Village 2, Ou Treh Commune, Stueng Hav District,
Preah Sihanouk Province.
Contact Person : Mr.Sean Mon
Contact Phone : 015 698 972 / 012 435 695
BRANCH PREAH SIHANOUK
55
Ti 1 Village, Sangkat Smach Mean Chey,
Khem Marak Phoumin City,
Koh Kong Province.
Contact Person : Mr. Phat Pheth
Contact Phone : 015 698 766 / 016 951 971
E-mail : [email protected]
BRANCH KOH KONG SUB BRANCH BAPHNUM
Chheu Kach Village, Chheu Kach Commune,
Ba Phnum, Prey Veng Province.
Contact Person : Mr. Um Aun
Contact Phone : 015 697 173 / 016 741 041
Email : [email protected]
POST SERVICE MESANGVeang Village, Chi Phoch Commune,
Me Sang District, Prey Veng Province.
Contact Person : Mr. Sok Sopheak
Contact Phone : 015 697 173 / 012 835 259
Email : [email protected]
SUB BRANCH PREAH SDACH
Prey Meas Village, Angkor Reach Commune,
Preah Sdach District, Prey Veng Province.
Contact Person : Mr. Eang Kimsan
Contact Phone : 015 697 189 / 012 395 892
Email : [email protected]
SERVICE OFFICE TA HUYTa Huy Village, Kampong Prasat Commune,
Peam Chor District, Prey Veng Province.
Contact Person : Mr. Khim Taing
Contact Phone : 015 697 189 / 092 549 707
Email : [email protected]
SUB BRANCH KAMPONG TRABAEK
Kampong Trabaek Village, Kampong Trabaek
Commune, Kampong Trabaek District,
Prey Veng Province.
Contact Person : Mr. Khy Sean
Contact Phone : 015 697 149 / 012 649 503
Email : [email protected]
SUB BRANCH LEUK DAEK
Kampong Chamlorng Village, Praek Tunloip
Commune, Leuk Daek Districk, Kandal Province.
Contact Person : Mr. Hay BunSrean
Contact Phone : 015 697 138 / 012 286 400
Email : [email protected]
BRANCH PREy VENG
Prampir Village, Kampong Leav
Commune, Kampong Leav District,
Prey Veng Province.
Contact Person : Mr. Path Reasmey
Contact Phone : 015 697 152 / 012 519 152
Email : [email protected]
SUB BRANCH SVAY ANTOR
Pou Chendam Village, Svay Antor Commune,
Prey Veng District, Prey Veng Province.
Contact Person : Mrs. Em Sophal
Contact Phone : 012 773 285/ 085 59 86 56
SUB BRANCH KAM CHAI MEAR
Chou Ti 3 Village, Kranhung Commune,
Kam Chai Mear District, Prey Veng Provice.
Contact Person : Mr. Ros Chim
Contact Phone : 015 697 167 / 012 970 048
Email : [email protected]
SERVICE OFFICE KANHCHRIECH Prasrae Mukh Village, Kanhchriech Commune,
Kanhchriech District, Prey Veng Province.
Contact Person : Mr. Heng Toeurn
Contact Phone : 015 697 167 / 012 677 186
SUB BRANCH NEAK LOEANG
Buon Village, Preaek Khsay Kha Commune,
Peam Ro District, Prey Veng Province.
Contact Person : Mr. Sim Mongkul
Contact Phone : 015 697 128 / 016 752 192
Email : [email protected]
56
Kien Sang Village, Svay Rieng
Commune, Svay Rieng Town,
Svay Rieng Province.
Contact Person : Mr. Preap Hor
Contact Phone : 015 697 262 / 012 739 716
Email : [email protected]
SUB BRANCH KRAOL KOU
Thlok Village, Kraol Kou Commune,
Svay Chrum District, Svay Rieng Province.
Contact Person : Mr. Lim ChamRoen
Contact Phone : 015 697 193 / 099 455 018
SERVICE OFFICE SVAY CHRUMTapor Village, Ta Suos Commune,
Svay Chrum District, Svay Rieng Province.
Contact Person : Mr. Chun Mahun
Contact Phone : 015 697 193 / 099 466 640
SUB BRANCH CHAN TREA
Kampout Chruk Village, Prey AngkunhCommune,
Bavet City, Svay Rieng Province.
Contact Person : Mr. Som Sotha
Contact Phone : 015 697 212 / 011 633 145
SERVICE OFFICE BROSOTSameakki Village, Svay Toea Commune,
Svay Rieng City, Svay Rieng Province.
Contact Person : Mr. San Tito
Contact Phone : 015 697 212 / 012 736 772
SERVICE OFFICE KAMPONG ROUSvay Anat Village, Nhor Commune,
Kampong Rou District, Svay Rieng Province.
Contact Person : Mr. Neang Chhorn
Contact Phone : 015 697 212 / 012 533 698
SUB BRANCH ROMEAS HAEK
Kampong Trach Village, Kampong Trach Commune,
Romeas Haek District, Svay Rieng Province.
Contact Person : Mr. Nuth Theng
Contact Phone : 015 697 214 / 085 598 662
BRANCH SVAy REING SERVICE OFFICE CHANN TREIChantrei Village, Chantrei Commune,
Romeas Haek District, Svay Rieng Provice.
Contact Person : Mr. Chhum Sokha
Contact Phone : 015 697 214 / 012 322 080
Achar Leak Village, Achar Leak
Commune, Steung Sen District,
Kampong Thom Province.
Contact Person : Mr. Nhek Poly
Contact Phone : 015 698 591 / 012 766 846
Email : [email protected]
SERVICE OFFICE SAMBOKampong Chheuteal Village, Sambo Commune,
Prasat Sambo District, Kampong Thum Province.
Contact Person : Mr. Than Sam Ath
Contact Phone : 015 698 862 / 012 307 067
SERVICE OFFICE STAUNGChheuteal Village, Kampong Chen Tbong Commune,
Staung District, Kampong Thom Province.
Contact Person : Mr. Hem Sok Hoeun
Contact Phone : 015 698 862 / 012 406 486
Email : [email protected]
SUB BRANCH KAMPONG THMAR
Prey Tatrav Village, Balang Commune,
Baray District, Kampong Thom Province.
Contact Person : Mr. Chim Serey
Contact Phone : 015 698 924 / 062 399 081
Email : [email protected]
SERVICE OFFICE KRAVASlaket Village, Krava Commune, Baray District,
Kampong Thom Province.
Contact Person : Mr. Chhun Raksmey
Contact Phone : 015 698 924 / 017 739 292
SUB BRANCH RUMLONG
Sala Khum Village, Treal Commune,
Baray District, Kampong Thom Province.
Contact Person : Mr. Touch Vimean
Contact Phone : 015 698 931 / 012 482 398
KAmPONG THOm BRANCH
57
BRANCH KRATIE
Wat Village, Kratie Commune,
Kratie City,
Kratie Province.
Contact Person : Mr. Pel TaingEng
Contact Phone : 015 698 668 / 012 661 636
Email : [email protected]
SUB BRANCH CHHLOUNG
Chrouy Thmor Village, Chhloung Commune,
Chhloung District, Kratie Province.
Contact Person : Mr. Khuon Vannak
Contact Phone : 015 698 690 / 099 455 400
Email : [email protected]
SUB BRANCH STEUNG TRENG
Thmor Leat Village, Sraoh Ruessey Commune,
Steung Treng District, Steung Treng City,
Steung Treng Province.
Contact Person : Mr. Ngen Sothy
Contact Phone : 015 698 653 / 099 455 145
Email : [email protected]
BRANCH KAmPONG CHAm
SUB BRANCH STUENG TRANG
Boeng Daeng Village,Preaek Kak Commune,
Stueng Trang District, Kampong Cham Province.
Contact Person : Mr. Dyna Ponnrak
Contact Phone : 015 697 304 / 023 305 012
Email : [email protected]
SUB BRANCH PREY CHHOR
Slaeng Village, Chrey Vien Commune,
Prey Chhor District, Kampong Cham Province.
Contact Person : Mr. Khut Sophea
Contact Phone : 015 697 321 / 023 351 391
Email : [email protected]
SUB BRANCH KAOH SOUTIN
Daeum Sdau Village, Pongro Commune,
Kaoh Soutin District, Kampong Cham Province.
Contact Person : Mr. Chann Ratha
Contact Phone : 015 698 129 / 023 358 478
Email : [email protected]
SERVICE OFFICE SITHOR KANDALPreaek Sandaek Village, Preaek Changkran
Commune, Sithor Kandal District,
Prey Veng Province.
Contact Person : Mr. Moa Naren
Contact Phone : 015 698 129 / 012 259 930
SUB BRANCH CHEUNG PREY
Skon Village, Soutip Commune, Cheung Prey
District, Kampong Cham Province.
Contact Person : Mr. Eav Sophin
Contact Phone : 015 697 336 / 011 901 186
Email : [email protected]
SUB BRANCH BATHEAY
Phaov Village, Phaov Commune,
Batheay District, Kampong Cham Province.
Contact Person : Mr. Rann Vannak
Contact Phone : 015 697 345 / 012 448 667
Email : [email protected]
SEVICE OFFICE PREY KRYPrey Kry Village, Prey Kry Cheung Commune,
Chol Kiri District, Kampong Chhnang Province.
Contact Person : Mr. Rann Vannak
Contact Phone : 015 697 345 / 012 448 667
Prampir Village, Kampong Cham
Commune, Kampong Cham District,
Kampong Cham Province.
Contact Person : Mr. Lim Thy
Contact Phone : 015 697 311 / 042 941 537
Email : [email protected]
SUB BRANCH KAMPONG SIEM
Prampir Village, Kampong Cham Commune, Kam-
pong Cham District, Kampong Cham Province.
Contact Person : Mr. Leng Pengsean
Contact Phone : 015 697 319 / 042 941 537
Email : [email protected]
SUB BRANCH CHAMKAR LEU
Thnal Beak Village, Svay Teap Commune,
Chamkar leu District, Kampong Cham Province.
Contact Person : Mr. Pin Nim
Contact Phone : 015 697 372 / 042 390 017
Email : [email protected]
58
SUB BRANCH SREY SANTHOR
Santey Village, Prek Pou Commune,
Srey Santhor District, Kampong Cham Province.
Contact Person : Mr. Chea Sophorn
Contact Phone : 015 697 350 / 012 300 853
Email : [email protected]
SERVICE OFFICE THLOK CHROVThlok Chrov Village, Khchau Commune,
Kang Meas District, Kampong Cham Province.
Contact Person : Mr. Heng Chanvirotha
Contact Phone : 015 697 351 / 012 543 427
SUB BRANCH KANG MEAS
Peam Chi Kang Village, Peam Chi Kang Commune,
Kang Meas District, Kampong Cham Province.
Contact Person : Mr. Heng Chanvirotha
Contact Phone : 015 697 351 / 012 543 427
BRANCH TBOUNG KHmUm
Cheung Lang Village, Suong
Commune, Tboung Khmum,
Kampong Cham Province.
Contact Person : Mr. Sok Theavy
Contact Phone : 015 698 013 / 042 390 013
Email : [email protected]
SERVICE OFFICE TRAPEANG RUESSEITrapeang Ruessei Village, Roka Po Pram Commune,
Tboung Khmum District, Kampong Cham Province.
Contact Person : Mr. Sarun Dara
Contact Phone : 015 698 030 / 092 223 952
SUB BRANCH OU REANG OV
Lekh Bei Village, Ampil Ta Pok Commune,
Ou Reang Ov District, Kampong Cham Province.
Contact Person : Mr. Chhay Vandet
Contact Phone : 015 698 084 / 012 781 861
SUB BRANCH PONHEA KRAEK
Pou Srok Village, Kaong Kang Commune,
Ponhea Kraek District, Kampong Cham Province.
Contact Person : Mr. Phin Sary
Contact Phone : 015 698 077 / 011 741 299
Email : [email protected]
SERVICE OFFICE DAMBAEDamBae Village, DamBae Commune,
DamBae District, Kampong Cham Province.
Contact Person : Mr. Kong Sokharith
Contact Phone : 015 698 077 / 017 335 007
SUB BRANCH MEMOT
Memot Village, Memot Commune, Memot District,
Kampong Cham Province.
Contact Person : Mr. Tith Kamrong
Contact Phone : 015 698 053 / 012 757 156
Email : [email protected]
Tuol Kralanh Village, Kampong Chhnang
Commune, Kampong Chhnang District,
Kampong Chhang Province.
Contact Person : Mr. Sok Piseth
Contact Phone : 015 697 925 / 026 988 719
Email : [email protected]
SUB BRANCH ROLEAPHIE
Tuol Kralanh Village, Kampong Chhnang
Commune, Kampong Chhnang District,
Kampong Chhang Province.
Contact Person : Mr. Pa Muny
Contact Phone : 015 697 924 / 092 606 638
SERVICE OFFICE TUEK PHOSSrae Ta Chey Village.Akphivoadth
Commune, Tuek Phos District,
Kampong Chhnang Province.
Contact Person : Mr. Men Samnang
Contact Phone : 015 697 924 / 012 597 154
SERVICE OFFICE KAMPONG LEAENGKampong Boeng Village, Kampong Hau
Commune, Kampong Leaeng District,
Kampong Chhnang Province.
Contact Person : Mr. Phal Sokchamreun
Contact Phone : 015 697 924 / 089 485 363
BRANCH KAmPONG CHHNANG
59
Thnal Bambaek Village, Roleab
Commune, Sampov Meas District,
Pursat Province.
Contact Person : Mr. Neang Sinarann
Contact Phone : 015 698 806 / 012 867 602
Email : [email protected]
SUB BRANCH SAM PAO MEAS
Thnal Bambeaek Village, Roleab Commune,
Sampov Meas District, Pursat Province.
Contact Person : Mr. Khlaing Sunhong
Contact Phone : 015 698 809 / 012 545 928
Email : [email protected]
SERVICE OFFICE KANDIENGBoeng Kranh Village, Svay Luong Commune,
Kandieng District, Pursat Province.
Contact Person : Mr. Long Punleu
Contact Phone : 015 698 809 / 092 956 936
Email : [email protected]
SUB BRANCH KRAKOR
Phsar Village, Anlong Tnaot Commune,
Krakor District, Pursat Province.
Contact Person : Mr. In ChanChulsa
Contact Phone : 015 698 838 / 012 777 659
Email : [email protected]
SERVICE OFFICE CHHEU TOMKapas Village, Chheu Tom Commune,
Krakor District, Pursat Province.
Contact Person : Mr. Seth Vichet
Contact Phone : 015 698 838 / 012 589 363
SUB BRANCH BAKAN
Boeng Khnar Village, Boeng Khnar Commune,
Bakan District, Pursat Province.
Contact Person : Mr. Lem Sina
Contact Phone : 015 698 834 / 012 385 065
Email : [email protected]
SERVICE OFFICE AUTAPOANGOu Ta Paong Village, Autapong Commune,
Bakan District, Pursat Province.
Contact Person : Mr. Kol Chamnab
Contact Phone : 015 698 834 / 092 976 509
SUB BRANCH MOANG RUSEY
Kansai Banteay Village, Moung Commune,
Moung Russie District, Battombong Province.
Contact Person : Mr. Mom Rithy
Contact Phone : 015 698 857 / 017 558 485
Email : [email protected]
SERVICE OFFICE KOAS KROR LOR
Toulbalaing Village, Koas Krolor Commune,
Koas Krolor District, Battambang Province.
Contact Person : Mr. Aoeun Saroeub
Contact Phone : 015 698 857 / 012 285 673
SUB BRANCH PHNOM KRAVANH
Kroch Chrar Village, Leach Commune,
Phnom Kravanh District, Pursat Province.
Contact Person : Mr. Houn Soaret
Contact Phone : 015 698 830 / 092 282 616
SERVICE OFFICE TA LOR
Ta Lor Village, Ta Lor Commune,
Bakan District, Pursat Province.
Contact Person : Mr. Phang Sereivathnak
Contact Phone : 015 698 830 / 092 688 283
BRANCH PURSAT
SUB BRANCH BARIBOUR
Ponley Village, Ponley Commune, Baribour District,
Kampong Chhnang Province.
Contact Person : Mr. Ung Cheav Kong
Contact Phone : 015 697 828 / 012 558 660
Email : [email protected]
SUB BRANCH KAMPONG TRALACH
Daeum Popel Village, Thma Edth
Commune, Kampong Tralach District,
Kampong Chhnang Province.
Contact Person : Mr. Heng Sovanna
Contact Phone : 015 697 928 / 092 576 474
Email : [email protected]
60
Aukhcheay Village, PrekPreahSdach
Commune, Battambang District,
Battambang Province.
Contact Person : Mr. Ouk Ry
Contact Phone : 015 698 486 / 012 993 387
Email : [email protected]
SUB BRANCH BAVEL
Spean Kandal Village, Bavel Commune,
Bavel District, Battambang Province.
Contact Person : Mr. Soan Seth
Contact Phone : 015 698 643 / 092 273 893
SERVICE OFFICE THMOR KORL Koktrab Village, Tameun commune,
Tmor Korl District, Battambang Province.
Contact Person : Mr. Viech Kimsan
Contact Phone : 015 698 643 / 092 976 520
SERVICE OFFICE SAM POV LOUNTrapaing Bralit Village, Santepheap Commune,
SamPov Loun District, Battambang Province.
Contact Person : Mr.Khut Kisaing
Contact Phone : 015 698 643 / 092 973 727
SUB BRANCH BANON SNOEUNG
Boeng Village, Snoeung Commune, Banon District,
Battambang Province.
Contact Person : Mr. Phlay Tola
Contact Phone : 015 698 641 / 012 469 080
BRANCH BATTAmBANG
Ou Ambel Village, Ou Ambel
Commune, Serei Sophorn District,
Banteay Meanchey Province.
Contact Person : Mr. thay socheat
Contact Phone : 015 697 886 / 012 677 843
Email : [email protected]
SUB BRANCH SEREISOPHORN
Ou Ambel Village, Ou Ambel Commune,
Serei Sophorn District, Banteay Meanchey Province.
Contact Person : Mr. Pol Vuthyrirth
Contact Phone : 015 698 130 / 012 792 725
Email : [email protected]
SUB BRANCH THMOR POURK
Kumru Village, Kumru Commune, Thmar Puok
District, Banteay Meanchey Province.
Contact Person : Mr. Morn sinsarin Vichet
Contact Phone : 015 698 182 / 012 403 093
SERVICE OFFICE SVAY CHEKRolous Village, Rolous Commune, Svay Chek
District, Banteay Meanchey Province.
Contact Person : Mr. Phauk Vina
Contact Phone : 015 698 182 / 092 786 282
SUB BRANCH PRAOH NETPRAOH
Chub Village, Chub Vary Commune, PraohNet Preah
District, Banteay Meanchey Province.
Contact Person : Mr. Nhem Retha
Contact Phone : 015 698 134 / 012 239 455
Email : [email protected]
SERVICE OFFICE PHNOM SROKSraoh Chik Village, Sraoh Chik Commune,
Phnom Sruk District, Banteay Meanchey Province.
Contact Person : Mr. Preah Hokly
Contact Phone : 015 698 134 / 092 976 276
BRANCH BANTEAy mEANCHEy
SUB BRANCH POI PET
Kbal Spean Village, Sangkat Poipet, Poipet City,
Banteay Meanchey Province.
Contact Person : Mr. Tep Sokheng
Contact Phone : 015 698 170 / 012 338 836
Email : [email protected]
61
Vihea Chen Village, Sangkat
Svay Dang Kum, Krong Siem Reap,
Siem Reap Province.
Contact Person : Mr. Tea Vanna
Contact Phone : 015 698 991 / 012 992 006
Email : [email protected]
SUB BRANCH SIEM REAP
Vihea Chen Village, Sangkat Svay Dang Kum,
Krong Siem Reap, Siem Reap Province.
Contact Person : Mr. Path Sokha
Contact Phone : 015 698 939 / 017 976 780
SUB BRANCH DAM DEK
Dam Dek Thmey Village, Dam Dek Commune,
Soutr Nikum District, Siem Reap Province.
Contact Person : Mr. Seung Sathya
Contact Phone : 015 698 957 / 012 360 230
SERVICE OFFICE CHI KRAENGKampong Kdey 2 Village, Kampong Kdey Commune,
Chi Kraeng District, Siem Reap Province.
Contact Person : Mr. Meas Sitha
Contact Phone : 015 698 957 / 012 562 041
SUB BRANCH KRALANH
Kampong Thkuv 2 Village, Kampong Thkuv Com-
mune, Kralanh District, Siem Reap Province.
Contact Person : Mr.Pek Bunratna
Contact Phone : 015 698 994 / 012 318 481
Email : [email protected]
SERVICE OFFICE SREY SNAMChroy Neangnoun Village, Chroy Neangnoun
Commune, Srey Snum District,
Seam Reab Province.
Contact Person : Mr. Mao Rath
Contact Phone : 015 698 994 / 092 631 264
BRANCH SIEm REAP
Nº25, St 294& 57, Boeung Kengkang1,
Chamkarmon, Phnom Penh, Cambodia
P.O.Box : 2412
Tel : +855 23 220 102
: +855 23 213 642
Fax : +855 23 216 362
Email : [email protected]
Website : www.prasac.com.kh
HEAD OFFICE
62
OUTREACH HIGHlIGHTS WITH OPERATIONAl mAP
Branch Network
Branches : 18
Sub Branches : 84
Service Offices : 32
Coverage
Provinces : 17
Districts : 131
Communes : 1,256
Villages : 8,098
Borrowers : 87,945
Staffs : 1,246
Total Assets : KHR 295B
Outstanding : KHR 267B
DECEmBER 31, 2009
PRASAC mICROFINANCE INSTITUTION lImITEDHead Office:
Address: Nº 25, St 294& 57, Boeung Kengkang1, Chamkarmon, Phnom Penh, CambodiaP.O.Box: 2412 | Tel: (855) 23 220 102/ 213 642 | Fax: (855) 23 216 362 | Email: [email protected]
www.prasac.com.kh
Annual R
eport 2009