Singapore timber trading scion sets sights on financing business in Indochina

Second-generation leader David Yong aims to transform Evergreen Assets Management into a broad-based enterprise with financing in Indochina and Singapore as core business

Published Wed, Sep 16, 2020 · 09:50 PM

Digital banking

Singapore

SINGAPORE'S Evergreen Assets Management is looking to sink its roots in Indochina, with plans to raise S$100 million to expand its financing business in this part of the fast-growing region.

This comes after the company secured a financial institute (FI) licence in March 2020 that allows it to conduct micro-financing in Cambodia, offering credit lines to cash-strapped small and medium-sized enterprises (SMEs). It is now in the process of securing similar licences in Vietnam and Myanmar by the end of 2021, said its CEO and second-generation business leader David Yong. (see amendment note)

According to the latest publicly-available report by the National Bank of Cambodia in …