A report from The Stock Exchange of Thailand (SET) revealed the stock trading activities of Finansia X Public Company Limited (SET: FSX) during the past two weeks, and on March 18, 2025, B.I.C Cambodia Bank Public Company Limited has purchased the company’s share, representing 9.9991% of FSX’s total voting rights.
Research found that B.I.C Cambodia Bank (BIC) is a commercial bank established and registered with the National Bank of Cambodia. The bank was co-founded with Laos’ Asia Investment and Financial Services Company Limited (AIF Group), Cambodia’s Paradise Investment Company Limited, and Thailand’s PrimeStreet Advisory Company Limited. AIF Group is a major shareholder, which is also the owner of BIC Bank Lao Company Limited.
Yim Leak, also known as Boss, is a Chairman and Board Member of BIC Group and B.I.C Cambodia Bank. He is also the youngest son of Yim Chhaylylok Chumteav Tun Khonn, a Cambodian minister in Hun Sen’s government, and also related to Hun Sen’s family. Furthermore, Yim Leak’s wife is Visnie Thepcharoen (Beat), a heiress to a giant real estate company, Nusasiri.
BIC was established under the Ministry of Commerce’s certificate of business registration and the National Bank of Cambodia’s banking license. The business was officially opened on August 1, 2018, with its main office located at number 462, street 93, Sangkat Tonle Bassac, Khan Chamkarmon, Phnom Penh, Cambodia. Its main operation is to provide various banking services, such as the following.
- Raising and receiving short-term, intermedia-term, and long-term deposits from companies, organizations and individuals both domestically and internationally.
- Providing loans with security to the companies, organizations and individuals for short-term, intermedia-term, and long-term, depended on the characteristic and financial capacity of the bank’s funding sources.
- Making foreign exchange transactions, providing international trade financial services, and discounting the value of banknotes and valuable documents.
- Providing transactions between customer and other bank services that NBC approved.
On March 21, 2025, B.I.C Cambodia Bank sold the FSX’s 9.9991% share to Rapidfire Technologies Limited. A source from FSX revealed to Kaohoon that there was nothing significant when B.I.C Cambodia Bank bought the company’s stock because the purchase happened for a period of time, both through B.I.C itself and its clients.
A source added that the reason for this acquisition is that B.I.C Cambodia Bank wants to connect the trade of Thai stock with its customers. Meanwhile, FSX viewed the process as beneficial as it can generate revenue through another channel. Many Cambodian investors are interested in investing in Thai stock because the Thai stock market is one of the most interesting investing markets in Asia, following Hong Kong Stock Market and Singapore Stock Market.
As for the transaction between B.I.C Cambodia Bank and Rapidfire Technologies Limited, there is no clear detail because FSX can not examine the shareholder’s data. However, the company is aware that B.I.C Cambodia Bank is not connected to Rapidfire Technologies Limited.
FSX’s primary business is to act as a holding company, with its core business in securities that provides comprehensive financial and investment services, such as the securities brokerage business, investment banking, asset management services for clients.
