Credit Rating Committee

Independent experts who review and approve credit ratings, ensuring objectivity, rigor, and adherence to RAC's published methodologies.

Committee Members

Meet the Committee

Nine independent professionals who review and approve every credit rating published by RAC.

01

Committee Member

Mr. Chakara Sisowath, CFA

Co-founder, 3E-Fii Capital

Chakara Sisowath has a 30-year experience in managing investments in Asia. He has been an Equity Analyst and a Portfolio Manager at Fidelity International and Credit Lyonnais International Asset Management in both in Tokyo, Japan. As a Partner and Managing Director at COMGEST in Hong Kong, Chakara managed Asian equities portfolios and directed the team of research analysts and portfolio managers.

In 2017, he set up Jayu Management & Research in Phnom Penh for consulting and advisory work. Subsequently in March 2020, he co-founded 3E-Fii Capital to develop the Corporate Finance practice within the 3E-Fii Group, a provider of Audit, Accounting, Tax and Financial Advisory services to Cambodian companies. Competencies include investment evaluation and selection, firm's competitiveness and industry benchmarking, financial modelling and analysis, risk identification and management as well as strategy development and assessment.

Chakara graduated with a BA from EDHEC Business School in Lille, France (1985). He also holds an MBA from the University of Chicago Booth School of Business (1992). Chakara earned the financial analyst degree from the French Society of Financial Analysts (SFAF) and is a CFA charter-holder from the CFA Institute. He is an independent non-executive director of Manulife TEDA Fund Management Co. in Beijing, China (2016). In 2021 he was appointed non-executive director of The Blue Circle in Singapore and a director of The Mekong Club in Hong Kong.

02

Committee Member

Mrs. Ratana Phurik-Callebaut, CFA

Founder & Chairperson, CFA Community in Cambodia

Cambodian and French, Ratana has almost 25 years' experience in international trade, investment, private sector development and finance. CFA Charter holder, she is the founder and chairperson of the Cambodia Community of Investment Professionals (CFA Community in Cambodia) to build local skills in finance while promoting Cambodia as an investment destination. Independent Director for ACLEDA and for I-Finance Leasing, she is also a Private Sector and Investment senior consultant for various international organizations with a strong background as a consultant/economist combined with hands-on experience in high-level management positions.

03

Committee Member

Mr. Vibunrith Long, CFA

Deputy Director, Exchange Management Department, NBC

Vibunrith has more than 10 years working experience including monitoring and analyzing commercial banks' PI and compliances with regulations, set investment guideline, benchmark, investment policy and strategy, monitor external managers and manages risk, development of economic models and formulation of investment strategies in order to generate active return.

He is the Deputy Director of Exchange Management Department at National Bank of Cambodia since 2019.

By holding the CFA Charter holder since 2017 and Bachelor of Commerce from University of New South Wales in 2012 and master of Science in Banking and Finance from University of Luxembourg in 2013. He was the founder and president of the Cambodia student association Sydney from 2006-2009.

04

Committee Member

Mr. Sarak Duong

Independent Director & Corporate Advisor

Sarak Duong has 23-year working experience, including the last 15 years with International Finance Corporation (IFC) of The World Bank Group in Cambodia and the Mekong region, in investment and corporate advisory, agribusiness, and private sector development.

Sarak was appointed as IFC Country Head for Cambodia from 2014 to 2019, where he managed senior relationships with the Government counterparts, development partners, and local and international corporate firms. In addition, Sarak has also led senior leadership roles in business development and portfolio management across key industries including agribusiness, financial, transports, and PPPs sectors.

Under his regional role as Agribusiness Advisory Lead for Cambodia and Myanmar from 2019 until June 2022, Sarak has led a number of successful advisory engagements with local SME firms to prepare their investment-readiness through improved productivity, efficiency, and development impacts.

Sarak is currently serving as an Independent Director and Corporate Advisor for various international and local firms.

05

Committee Member

Mr. Etienne Kettenmeyer

Executive Director, DFDL Cambodia

Etienne is a Luxembourg citizen with 20+ years of experience in the financial and banking industry. He occupied various positions in France with KPMG, Société Générale, and GE Capital before relocating to Cambodia in 2015 with his family. He joined the nascent leasing industry as Country Manager and CEO of two leasing companies in Cambodia (BSP Finance Cambodia and i-Finance), and Laos (BSP Finance Lao). He successfully managed the setup of two joint-ventures, and the sale process of one company to a major Korean investor.

Etienne is the current Executive Director of DFDL in Cambodia, a regional law, tax and business advisory firm, where he is more specifically in charge of the Corporate Advisory Services (M&A, Corporate Finance, and Business Development).

06

Committee Member

Mr. Freddie Wong, FSA CERA FLMI

Chief Actuary, Prudential Cambodia

Freddie is the Chief Actuary of Prudential Cambodia. He is responsible for product development and actuarial reporting of the company. Under his leadership, Prudential Cambodia has pioneered the affordable digital insurance solutions to the market.

Freddie is a Fellow of Society of Actuaries, Chartered Enterprise Risk Analyst (CERA), and Fellow, Life Management Institute (FLMI). He has over 12 years working experience in a number of leading international insurance companies with wide experience across product development, shareholder and regulatory reporting, financial planning, actuarial modeling, and risk management.

07

Committee Member

Mrs. Siv Tean Ly

Managing Director, Seeva Capital

Tean is Managing Director of Seeva Capital. Prior to moving to Cambodia, Tean worked in investment banking at Citigroup in New York where she managed structured real estate project finance transactions via public and private partnerships funded with taxable and tax-exempt municipal bonds, derivatives, private placements, and credit enhancements from government sponsored enterprises.

Tean also worked in acquisitions at a real estate private equity firm with over $2.5 billion of assets under management with a focus of investing in real estate through tax credit syndication from institutional investors.

08

Committee Member

Mr. Veasna Lim

Partner, Regional Law Firm

Veasna has worked for 8 years at a regional law firm in Phnom Penh and joined Law Firm as a partner in October 2021. He has extensive experience in Real Estate Development, Intellectual Property, Commercial Arbitration and Corporate. He is also a commercial arbitrator and lawyer in Cambodia.

Veasna is well-versed in providing practical legal solutions for clients who require strategic business and investment advice.

09

Committee Member

Mrs. Sopheap

Head of Investment & Treasury, Prudential CLM Hub

Sopheap has more than 11 years in investment management, credit rating, financial due diligence, business valuation, and accounting supervision in Cambodia, Lao, Myanmar and Singapore. Currently, she is the Head of Investment & Treasury of Prudential Cambodia, Laos, Myanmar (CLM) Hub. She is responsible for investment portfolio and treasury management of the three markets.

How RAC Assigns Credit Ratings

Explore our rating process, criteria, and methodologies that guide every committee decision.