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AUSTRALIA, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Resources Global Services Group (RGSG) announces the Acquisition of RGS Global (Land)
Resources Global Services Group (OTC Pink: RGSG) (the "Company"), is pleased to announce the acquisition of RGS Global (Land), a Cambodian company; CEO, Sherman Liew who is involved in the acquisition of parcels of land in Siem Reap, a popular tourist attraction, in North Western Cambodia. The strengthening of Cambodia diplomatic and economic relations with China and the impact of the One Belt has positive signs for Cambodia.
The land parcels are earmarked for the future development of hospitality and entertainment targeted at the tourists and the local affluent society. Siem Reap, is a very popular tourist attraction, and is the gateway to the ruins of Angkor Wat. Angkor Wat is the heart and soul of Cambodia, a city of complex intricate stone monuments representing historical Khmer architecture. It has become a symbol of Cambodia, appearing on Cambodias national flag, and it is the country's prime attraction for visitors.
Chairman of RGS Global, Mr Sherman Liew; is involved with a number of investment projects in Cambodia, working with local organisations and the governmental authorities to provide social and economic benefits to the local communities.
The Siem Reap Cambodia land acquisition by Resources Global Services Group (RGSG), is an important part of the overall company strategy of acquiring assets and adding value to these assets for the benefit of our shareholders. Real estate asset acquisitions and real estate developments have always been great investments and this project offers both complementary investment avenues.
Investment Philosophy - While a three to five-year period may seem like millennia compared to the technology world, it is a quite reasonable period to aim to hold assets, considering the fact that private equity investors are generally satisfied with a 7 10 year waiting period that exists prior to a return of their capital investment.
Note : Negotiation is in the pipeline for asset acquisition in a commodity based company in Australia. Target to complete negotiation and acquisition by the first/second quarter of 2019.
MOLLI S C CHUA ONG 91 SANDGATE ROAD ALBION, QUEENSLAND AUSTRALIA MOLLI@RESOURCESGLOBALSERVICES.COM