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NagaCorp IPO Planned for Hong Kong Exchange

7 June 2005

CAMBODIA – As reported by the China Standard: "NagaCorp, a Cambodian casino operator owned by Malaysian tycoon Chen Lip Keong, is planning to float its shares on Hong Kong's stock exchange after its listing plan was rejected by Singapore two years ago, sources said.

"NagaCorp, which runs the only legal casino in Cambodia's capital city Phnom Penh, has applied to list on the Hong Kong stock exchange, according to people familiar with the matter.

"…Chen was blocked in 2000 from injecting NagaCorp into a Malaysia-listed company he controls because the Malaysian exchange's rules then declared such overseas operations out of bounds.

"…The Hong Kong exchange only opened its door to gambling-related listings a few months before NagaCorp's Singapore application. Dozens of listed companies have since announced investments in casinos in Macau and other countries as well as cruise ships…"

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