Wednesday, November 25, 2009

Samart quashes rumour

Samart Corp Plc today issued a statement to end negative reports against its wholly-owned subsidiary Cambodia Air Traffic Services Co Ltd (CATS).

The statement stressed that it remains a rumour that the Cambodian government would freeze or buy back the concession awarded to CATS. The temporary control was meant to assure security and the company has received confirmation that once the trial of the arrested employee is over, CAT will resume the normal operations.

It also said that since the concession started in 2001, the company has won full supports from Cambodia. And it is known that Cambodia has never seized any concession of a foreign company. Samart is thus confident that the 32-year concession would stay.

Samart also insisted that it has no involvement in politics.

"The domestic political rift has sent sizeable impact to the company and we don't want this to intensify through political involvement. The company just hopes that CATS will resume its normal operations soon," stressed Watchai Vilailuck, president of Samart.

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