Cambodia Investment Review
A Cambodia-linked investment group has outlined plans to invest in commercial properties and develop new business links in regional South Australia, with a focus on hospitality, recycling, agricultural exports and workforce training.
The plans were presented at the “Study, Work & Investment in South Australia” forum at The Morgan Tower in Phnom Penh on September 26. Rasmey Sokmongkol, known as Raz, is managing director of AIA-SA and leads the Flinders Investment Group (FIG), the investment consortium behind the proposed property developments.
A booklet prepared for the forum says FIG plans to invest in four commercial properties across Jamestown, Georgetown and Gladstone in South Australia’s Mid North. The group has identified possible uses for the buildings, but the materials do not state whether acquisitions have been completed. No investment value, financing details or development timetable was disclosed.
Four properties identified for redevelopment
FIG’s property plans centre on buildings that could be renovated for accommodation, hospitality and other commercial uses:
- Jamestown: The Old Belalie Hotel and a former Farmers’ Co-operative Union building.
- Georgetown: A general store and adjoining four-bedroom home.
- Gladstone: A former butter factory.
At the Old Belalie Hotel, the booklet proposes renovating existing rooms to provide accommodation for visitors, temporary workers and new residents. It also raises the possibility of modular housing on adjacent land. The former co-operative building in Jamestown is presented as a potential site for a new dining business.
In Georgetown, FIG’s proposed approach includes renovating the home beside the general store and potentially adding guest rooms. Together, the projects reflect the group’s view that regional businesses need more accommodation options to support tourism and incoming workers.
The investment case presented in the booklet extends beyond the individual buildings. The Yorke and Mid North region has a population of more than 78,000 and includes agricultural areas, established service centres and transport links, according to the forum materials. FIG sees an opportunity to connect renewed commercial properties with the region’s existing industries and future workforce needs.
Recycling, exports and tourism in focus
AIA-SA’s wider strategy includes plastics and glass recycling in the Mid North. The group said it is developing a “weighed and paid” collection model through warehouse and logistics operations, with the aim of handling materials at greater volume. The forum materials did not specify the planned processing capacity or when operations would begin.
Trade is another priority. AIA-SA said it is working with a Mid North wine company and Clare Valley producers to develop export channels for South Australian wine and primary produce into Southeast Asian markets. The materials did not name buyers or disclose expected export volumes.
The group also wants to acquire and upgrade regional hospitality assets, particularly around the Yorke Peninsula, to attract visitors and create local employment. These plans remain at the proposal stage in the materials provided.
FIG was described as an investment consortium founded by Sokmongkol alongside Cambodian business figures. A photograph in the forum report identifies its members as Chea Sunsopor, Sokmongkol, Chea Leanghong and Lai Porhour.
Training linked to regional business activity
AIA-SA also presented international education as part of its regional strategy. Through allied frameworks including the Australian Training and Education Centre, it said it is working with accredited training organisations in construction, English, tourism and hospitality.
The aim is to connect students with practical learning opportunities alongside commercial sites and warehouse operations in regional South Australia. The group did not provide student targets, details of individual training agreements or a timetable for placements.
For Sokmongkol, the South Australian focus has a personal connection. The forum report says he arrived in Adelaide as a refugee and attended school there before moving into international business development.
The report also described discussions with Andrew “Cosi” Costello, a South Australian television personality and founder of Cows for Cambodia, about a possible ambassadorial role promoting the Yorke Peninsula and Mid North. It did not say that a formal appointment had been made.
The Phnom Penh forum put a range of cross-border opportunities on the table. The next measure of progress will be whether FIG completes its proposed property investments and provides firm funding, construction and operating plans for the businesses it wants to build.
Interested in learning more about the South Australian investment opportunities? Contact Rasmey Sokmongkol (Raz) in Cambodia by telephone at +855 12 99 39 59 or on Telegram at @RazVisaKing.
