The reviewer knows one of the authors (Pawan) well. He came across the inspirational work when it was generously gifted. While the authors claim that the book is mainly for the specialists in the field, there is a lot in it that would be of interest to readers interested in the evolution of emerging economies, their corporate culture, and differing regulatory regimes.The authors - all selflessly dedicated to the cause that would make any sustainability observer applaud - do not intend to focus on Cambodia's emergence post Pol Pot nadir. However, the story of Phnom Penh Water Authority begins from the dark shadow of the genocide. One learns about the Khmer Rouge carnage more through some of the numbers presented rather than any events' descriptions. Consider this: Phnom Penh's population had estimated to have declined 90% in a single decade. Such low was the economic point that when PPWSA obtained a meager USD50k aid in 1993, it was a newsworthy item. This amount was meaningful enough to play a significant role in PPWSA's coming out story.PPWSA may not feature in Asia's thousand or even ten thousand biggest corporate stories by many accounts. And yet, it is a highly unique account of a water corporate being able to do something unprecedented in the emerging world and compared to the developed world counterparts.Consider this: because of PPWSA's efforts discussed in detail in the book, unaccounted water reduced from 70% in 1992 to less than 10% by 2012 in Phnom Penh. This non-revenue water percentage is better than even many developed world entities', like Thames Water of the UK, despite its privatization as early as 1983. In a short eight-year period from 1993, the customers getting the metered measurements at PPWSA went from 13% to 100%. Among the main drivers behind its spectacular development, as per the authors, were the autonomy granted to PPWSA in 1996 and its committed leadership.It is difficult for current world readers to appreciate the low starting point of the early 1990s' PPWSA. For example, at the time of the first elections in 1993, Cambodia had no financial accounting standards. There were external agency-led programs for PPWSA to learn accounting. The authors highlight how simple things like the ability to produce audited accounts since 1997 played a role in the evolution of such a remarkable company leading to it becoming the first joint-stock company listed in Cambodia Stock Exchange by 2012.PPWSA's singular achievement during its best phase was the changes it made in its tariff structure in the late 1990s and early 2000s. With the focus on its customer groups' ability to pay, it devised a tariff table that allowed it to meet all expenditures without excessively burdening the users.The 4-D framework proposed by the authors details the company and its current state, which is not uniformly positive. In the gap analysis and discussion on risks, the book throws light on things that have started going wrong in the last ten years. Authors' recommendations include things as radical as the need to de-list the entity to find the right balance between its financial and social goals.The book ends with quick sections on lessons for other water utility companies and their management. There is a lot in the middle sections of interest to Cambodia corporate historians or water industry specialists. Equally, there is a lot for general readers too.