Singapore-based private equity fund manager Emerging Markets Investment Advisers (EMIA), has on Thursday announced its investment in FWF Full Well and Nisshin Logistics (FWF), Cambodia’s logistics service provider, through its new fund, ASEAN Frontier Markets Fund (AFMF).

FWF said in a statement that the investment is to expand its growing asset base in modern logistics infrastructure in Cambodia.

The firm sees Cambodia’s growing logistics requirements and the massive demand for cold storage capacity, which is expected to grow about 80 percent over the coming years.

FWF has ambitious plans to expand its portfolio of logistics infrastructure assets to leverage its deep experience in the industry and to support the government’s logistics master plan.

With AFMF’s investment, the company will establish a modern dry port in Kampong Speu, located between Phnom Penh and Sihanoukville Port, the key deep-sea port for imports and exports in the country which will be operating under Warehouse One Enterprise Co., Ltd.

The dry port will provide additional customs clearance capacity and increase cargo flow between ships and major land transportation networks, improving the movement of goods and reducing congestion at the seaport.

Importantly, the new facilities will expand FWF’s existing cold-chain capabilities – a much-needed, and underdeveloped, component to efficient logistics in Cambodia.

FWF cold chain facilities and refrigerated transportation assets will support the agribusiness, food and import sectors of the economy, among others.

FWF is also committed to developing a sustainable and compliant business by implementing the highest standard of environmental, social and governance (ESG) practices.

Driven by the commitment to make a difference, ESG advancement will thus remain core to the company in its next phase of growth.

“We agreed to build long-term partnership and relationship. EMIA’s expertise will prove invaluable to us as our company graduates to the next stage and transforms our family business into a more international standard corporation,

“We are also impressed by EMIA’s commitment to investees’ development journey in both commercial and ESG aspects,” said FWF Founder and Chief Executive Officer Lim Hor Poth.

According to him, FWF will take substantial measures to address environmental and climate challenges, promote social inclusivity, gender equality, and human rights by implementing robust E&S management systems, stakeholder engagement plans, and formal grievance mechanisms, fostering transparency, ethical conduct, and the empowerment of employees and stakeholders.

EMIA Chief Investment Officer and FWF Deal Leader Mao Savin said the firm believes that the core logistic infrastructure such as cold storage and dry port facilities in Cambodia offers huge opportunity for growth.

According to him, this was especially thanks to the growing import and export industries such as sophisticated agriculture products, high quality foods and pharmaceutical products and Cambodia’s ambition to transform and modernize industrial structure from a labor-intensive to a skilled-based industry.

“We look forward to working even more closely with FWF’s team to further develop FWF’s businesses to achieve its ambitious plans,” he said.

EMIA Chief Executive Officer Joshua Morris said the firm’s investment into FWF is fully aligned with its objective of investing in businesses which support the development of the critical infrastructure necessary to support Cambodia’s rapid economic growth.

“The team has built a first-rate logistics company dedicated to bringing international facilities, assets and processes to the business while continuing to follow best practices across the spectrum of ESG-related commitments,

“As with our first investment from AFMF into Amru Rice, we believe our partnership with FWF demonstrates the types of companies the fund was established to support – those which are commercially strong, socially focused and support Cambodia’s critical industries,” he said.

Established in 1998, FWF is a full-service logistics company founded by Lim Hor Poth, an experienced logistics professional in Cambodia.

Its principal business includes arranging managing air, sea, land, and project shipments, customs clearance, and vendor consolidation.​​

Currently, FWF has five offices in Cambodia and one in Vietnam, enabling the Company to cover Cambodia’s four major logistics hubs: the ports of Sihanoukville and Phnom Penh, Bavet (bordering Vietnam), and Poipet (bordering Thailand).

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