Cellcard Wins Two Awards At Mobile World Congress In Barcelona
CAMGSM PLC, commercially known as Cellcard, one of Cambodia's leading mobile operators, celebrated its double win at the Ookla Speedtest Awards, which were announced at the Mobile World Congress (MWC) held in Spain in late February 2024.
According to a press release issued by CAMGSM PLC on March 14, 2024, Cellcard was awarded as both Cambodia's Fastest Mobile Network and Cambodia's Best Mobile Gaming Experience for Q3-Q4 of 2023.
“We are incredibly proud, as a 100 per cent Cambodian company, to reach this significant milestone again," said Simon Perkins, Cellcard CEO. "These awards solidify our position as Cambodia's fastest and most reliable mobile network."
Based on the latest Ookla Speedtest Awards, Cellcard users benefited from the fastest download speeds in Cambodia, reaching 33.74 Mbps during Q4 2023.
Cellcard’s Commitment To Connectivity Recognised
Notably, this marks the eighth consecutive time Cellcard has been recognised with the Ookla Speedtest Award for Fastest Mobile Network. The release added that these awards are a testament to Cellcard's unwavering commitment to improving connectivity throughout Cambodia.
Cellcard, along with its partners, launched a network-focused initiative in 2023 that focuses on delivering cost-effective solutions to significantly enhance network experiences for users. The company has stated that it prioritises network efficiency, quality, and reliability as part of its comprehensive business transformation strategy.
Cellcard’s 2023 Bond Listing On CSX
In late 2023, GuarantCo, part of the Private Infrastructure Development Group (PIDG), provided CamGSM (Cellcard) with a USD $70 million guarantee to support an internationally certified sustainability bond fully subscribed by institutional investors (Manulife and Prudential Cambodia), which listed on the Cambodia Securities Exchange (CSX) on November 24, 2023, with loan financing from Deutsche Bank AG (Singapore).
Proceeds from the financing will be used towards the expansion of Cellcard’s telecom infrastructure, including: 4G telecommunication towers, energy efficient 4G equipment and future-proofing the network in preparation for 5G rollout. According to Cellcard, the transaction is expected to benefit over one million users with increased internet speed and coverage. Businesses will also benefit from enhanced productivity through improved speed and coverage of service.