15 July 2014

…In relation to the Phnom Penh Sugar Company, it recently paid out its loan to ANZ Royal and is no longer an ANZ customer. Prior to the company’s decision to repay the load, ANZ had demonstrated a willingness to remain engaged in the company and its stakeholders. For example, ANZ was involved in an extensive dialogue in Australia and in Cambodia to hear the concerns of NGOs including Equitable Cambodia, Inclusive Development and Oxfam, as well as supporting the company to meet with NGOs and members of the community directly…A detailed action plan was put in place by ANZ to help the company improve, including implementing time-bound performance measures; however the company ultimately chose to exit its relationship with ANZ…