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Signing Ceremony of Memorandum of Understanding between ACLEDA Bank Plc. and General Department of Taxation of Ministry of Economy and Finance

August 21, 2012

Phnom Penh, August 21, 2012, ACLEDA Bank Plc., a leading commercial bank for all sectors, hereby announces that it has signed the Memorandum of Understanding with General Department of Taxation of Ministry of Economy and Finance in providing its services for tax stamp sale operating on means of transportation for all vehicles (motorcycle and three-wheeled motorcycle) piloting in 23 provinces and Phnom Penh capital.

The tax on means of transportation for all vehicles (motorcycle and three-wheeled motorcycle) was established through the royal degree, No.24 Kro, dated February 15, 1991, Council of State of Cambodia.

H.E SIM Eang, Royal Delegate in charge of the General Department of Taxation, said, "This is the first time that General Department of Taxation selects ACLEDA Bank Plc., to be a partner in tax stamp sale operating on means of transportation for all vehicles (motorcycle and three-wheeled motorcycle). The selecting partner with ACLEDA Bank Plc. because it has a wide branch network connected by modern telecommunication systems and is well established in the country. On the other hand, the stamp sale does for the Modern Commercial Banking System, manage the data information of collection tax on means of transportation in more effectiveness.

The General Department of Taxation will provide the tax stamp to all ACLEDA Bank Plc.'s branches and offices throughout Cambodia, in order to selling tax stamp to all vehicles' owner (motorcycle and three-wheeled motorcycle).

Mr. IN Channy, President & CEO of ACLEDA Bank Plc., said, "It is a great honor and pleasure for ACLEDA Bank Plc. to be always highly trusted by the public institutions of Royal Government of Cambodia in ACLEDA Bank Plc. financial services and it has been selected for their partner. This will encourage ACLEDA Bank Plc. to continue expanding network, improving service quality and equipping the advanced online electronic banking system and mobile banking system, as well as deploying ATMs throughout the country servicing customers 24 hours a day and 7 days a week."

"Today, it is another great achievement that the General Department of Taxation has selected ACLEDA Bank Plc. to be its partner piloting in providing banking services for tax stamp sale operating on means of transportation for all vehicles (motorcycle and three-wheeled motorcycle) throughout Cambodia," he stated.

He also added that, "ACLEDA Bank Plc. has 237 branches and offices throughout Cambodia and 25 branches and offices in Laos, with the total assets of US$1.76 billion by the end of July 2012. It has three Subsidiaries which are ACLEDA Bank Lao Ltd., ACLEDA Securities Plc., and ACLEDA Training Center. ACLEDA Bank Plc. is going to expand its operation to Myanmar and in the ASEAN region."

For more information contact:

Representative of General Department Taxation:

Mr. SEM Sakhan, Deputy & Head of Department of Law Litigation-Statistic
Tel: +855­ (0)97 911 62 22, +855­ (0)12 612 120
E-mail:

Representative of ACLEDA Bank Plc.:

Mr. LY Thay, SVP & Head of OPD
Tel: +855­ (0)15 900 177
E-mail:

Mr. SOK Sovady, VP & Deputy Head of OPD
Tel: +855­ (0)15 900 178
E-mail:

Mr. NETH Piseth, VP & Deputy Head of OPD
Tel: +855­ (0)15 700 111
E-mail: