DeClout's vCargo Cloud wins Cambodian government contract for trade facilitation platform

DeClout's vCargo Cloud wins Cambodian government contract for trade facilitation platform

By: 
Stanislaus Jude Chan
27/03/18, 06:07 pm

SINGAPORE (Mar 27): vCargo Cloud (VCC), a portfolio company of SGX-listed DeClout, has won a contract by Cambodia’s Ministry of Economy and Finance to integrate seven government bodies onto a unified online trade facilitation platform.

The integrated e-trade solutions provider will develop and implement Phase 2 of Cambodia’s National Single Window (CNSW), following its successful implementation of Phase 1 last year.

Named CamelONE, the platform will connect traders with Cambodian License and Permit Issuing Authorities.

These seven authorities are: the Ministry of Commerce; General Department of Customs and Excise of Cambodia; Council for Development of Cambodia; Ministry of Agriculture, Forestry and Fishery; Ministry of Health; Ministry of Industry and Handicrafts; and Port and Airport Operators in Cambodia.

Besides providing timely and accurate statistics to improve reporting, CamelONE will also help to digitalise documentation processes, such as application for licenses and permits, to reduce cross-border risks and costs.

“VCC’s involvement bears testimony to our capabilities and the strong partnership we have forged with the Cambodian government,” says Desmond Tay, chief executive officer of VCC.

“With a population of more than 630 million, the Asean region represents the world's sixth largest economic bloc and is poised to play a vital role in future global trade,” he adds.

Shares of DeClout last closed at 8.1 cents on Mar 23.

How should investors pick their funds?

SINGAPORE (Aug 13): Financial planners say retail investors should do more due diligence before buying into unit trusts, and not buy into funds just because they are associated with a famous brand name and have more market exposure. “Fund performance has little correlation with brand name and market exposure. The key is the fund manager, investment team and processes. Some smaller fund houses may have these capabilities, but do not have the budget to conduct branding and marketing activities,” says Yap Ming Hui, founder and managing director of Whitman Independent Advisors. Bryan Zhe....
Read More >>

Is bigger better?

SINGAPORE (Aug 13): There is a common perception among retail investors that the larger asset management companies tend to outperform their smaller counterparts in the market. The general opinion is that only fund houses that have the capital to market their products and a strong agency force to distribute their products would have a good track record when it comes to delivering returns to their customers. See also: How should investors pick their funds? However, data provided by investment research and management firm Morningstar shows that this may not always be the case. Personal Weal....
Read More >>

Thai Beverage reports 61% fall in 3Q earnings to $248 mil

SINGAPORE (Aug 14) Thai Beverage PLC reported 3Q earnings fell 60.7% to THB 6 billion ($248 million) from a year ago due to lower profit from spirits and beer, higher losses from non-alcoholic beverages and lower income contribution from Fraser and Neave and Frasers Property (F&N/FPL). For the 3Q ended June, revenue rose 34.1% to THB 60.8 billion due to higher sales of beer and food to be offset by lower sales in spirits and non-alcoholic beverages. Net profit from F&N/FPL was 80.9% lower at THB 1.9 billion due to the absence of recognition of fair valuation gains on financial as....
Read More >>
Hall of change

SINGAPORE (Aug 13): On the evening of April 26, Prof Ilian Mihov took the stage to speak about