Source: Xinhua
Cambodia's postal system will be become a public enterprise early next year in a bid to prepare for eventually listing on the domestic stock exchange, local media reported on Monday.
"The government has targeted listing it on the upcoming stock market, so it will become a public enterprise to increase transparency in account standards and financial statements," Sarak Khann, secretary of state of the Ministry of Posts and Telecommunications (MPTC), was quoted by the Phnom Penh Post as saying. "When it is transparent enough and generates sufficient revenue, it may be listed on the bourse."
The Council of Ministers approved a draft sub-decree establishing Cambodia's postal office as a public enterprise. Prepared by the MPTC, the sub-decree moves the postal system to a public enterprise to reform the management system, according to a press release issued Friday. It added that the system would take advantage of modern information technology to track postal consignments, along with expanding service in remote areas.
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