Banking sector grows
The global economic recovery this year continues to benefit Cambodian banks, although insiders said yesterday macro-economic press-ures were still weighing on the industry. Some of Cambodia’s biggest banks had enjoyed a strong 2011 thanks to a rebound in lending, deposits and profits, officials said. Economists, ...
http://www.phnompenhpost.com/index.php/2011070550175/Business/banking-sector-grows.html
BDO expands Cambodia operations
The former country partner and staff of Grant Thornton Law and associates in Cambodia have joined the accountancy and advisory firm BDO Malaysia effective July 1, according to a statement. BDO is one of three accounting firms licensed by the Securities and Exchange Commission ...
http://www.phnompenhpost.com/index.php/2011070550176/Business/bdo-expands-cambodia-operations.html
GMAC head sets clothing export goal
Cambodia is set for a 30 per cent increase in garment exports this year, according to Garment Manufacturers Association in Cambodia (GMAC) president Van Sou Ieng. The sector was heavily dependent on foreign buyers, which were increasing their orders as the global economy recovered, he ...
Inflation Hits 14-Month High As Food Prices Continue to Rise
Inflation rose to 6.5 percent in May when compared to the same time last year, marking a 14 month high. Consumer prices are also shown to have risen by 1.4 percent with meat, fish and vegetables as the main culprit as they increased as well. ...
Pig production priority
Thailand’s reported move to ban exports of live pigs highlights the need to develop a larger Cambodian pig industry, insiders say. The Bangkok Post reported yesterday that Thailand’s Acting Commerce Minister Porntiva Nakasai had banned the exports in order to bring down its own prices, ...
http://www.phnompenhpost.com/index.php/2011070150113/Business/pig-production-priority.html
Cambodia to Cooperate with Korean Prosecutors
Following a meeting in Seoul yesterday, Cambodian officials have reportedly decided to cooperate with South Korean prosecutors in the investigation of Busan Savings Bank Group, where shareholders are suspected of illegally financing $365 million worth of investments in Cambodia, according to Yonhap News. Busan’s ...
Kingdom officials in on Busan probe: report
South Korea’s Yonhap news agency reported yesterday that Cambodian officials have agreed to assist in the investigation of a scandal ridden South Korean savings bank with investments in the Kingdom. A South Korean investigation has revealed that bank executives and shareholders used deposits to ...
OZ Knew of Gold at M'Kiri Site, Report Shows
OZ Minerals has details revealing the size of gold resources available at its Mondolkiri site and has had them for nearly a year. For withholding the information OZ Minerals could face legal action in Australia. Keo Seima, a partner organization was bought out in 2009 ...
(By Simon Marks, pg. 1)
Growth in vehicle sales fuelled by bank loans, dealers say
Commercial banks are providing more loans for vehicle purchases, leading to a jump in car sales this year, according to dealers. While the improved domestic economy and effects of the March disasters in Japan on its competitors had improved sales figures of Great Wall vehicles, increased ...
French Premier Signals Investor Frustrations
Prime Minister of France Francois Fillon informed Cambodian officials of the frustration of French investors with Cambodia as agreements were often failing to materialize or were subject to other barriers. Prime Minister Hun Sen met the French Premier along with other officials to discuss investment ...
Online launch voice
Internet Service provider Online is aiming to compete in the voice call market with its latest product, TalkMobile, a Skype-like application for handsets. Customers are not required to connect via Online to use the application and may connect through rival ISPs and mobile companies. ...
http://www.phnompenhpost.com/index.php/2011070450152/Business/online-launch-voice.html
More Money For Meat
Meat prices on Phnom Penh’s markets have seen large gains over the first half of the year, according to figures from the Ministry of Commerce’s Trade Promotion Department. Economics Institute of Cambodia Senior Researcher Neou Sieha said yesterday that meat prices had seen significant increase ...
http://www.phnompenhpost.com/index.php/2011070450154/Business/more-money-for-meat.html
ANZ Climbs Back Into The Green, Report Says
ANZ Royal Bank posted an $8.1 million profit for 2010 according to the bank’s annual report. A profit of $24.3 million was reported by Acleda. Trade and national payments were shows to have generated substantial earnings for the bank according to the report. ...
Concern grows over forest concession
Sixty community representatives from Preah Vihear and Kampong Thom provinces expressed concern yesterday over a string of recent economic land concessions granted within the bounds of the Boeung Per Wildlife Sanctuary. At a press conference held in Preah Vihear’s Rovieng district yesterday, they claimed the ...
Japanese firm plans Cambodian fund for later this year
Japanese fund manager Asset Design plans to launch a Cambodian equities fund in late 2011. The fund would target large returns after the Kingdom opened its stock exchange this month, an Asset Design executive said yesterday. Asset Design expected the scale of the fund to ...
Okvau resource’s value at centre of dispute
Gold in Mondolkiri is at the center of a dispute between OZ Minerals and Shin Ha Mining Co Ltd after an alleged breach in contract. OZ Minerals bought out Shin Ha Mining Co Ltd from their joint venture without paying the true value of the ...
Vietnam's deep-water links spur Phnom Penh Port growth
Vietnam’s Cai Mep port has contributed to a growth in shipments from the Phnom Penh Autonomous Port this year, Cambodian officials say. The Vietnamese deep-water port, near Ho Chi Minh City, allows cargo to be transferred to ships travelling to more distant markets such as ...
Pesticide poisons scores
After the So Ngoun Company sprayed pesticides in Kampot province approximately 90 villagers have become ill. They are being treated for vomiting, diarrhea, and dizziness after drinking contaminated water, as the pesticide flowed downstream after some rains. The pesticide was sprayed in order to rid ...
http://www.phnompenhpost.com/index.php/2011070750245/National-news/pesticide-poisons-scores.html
Premier Breaks Ground for Bridge in Kandal
Prime Minister Hun Sen helped inaugurate the fourth bridge built by the Chinese in Cambodia. The $33 million bridge will span the Tonle Bassac river at Takhmau City. In Phnom Penh, a fifth bridge, dubbed the Cambodian-Chinese Friendship bridge is about to begin construction. ...
Sokimex Plans High-Rise Condos for Peninsula
Sokimex Group is set to break ground on six high-rise condominium buildings in Phnom Penh. Originally suspended in 2010 by Sok Kong because of low demand, the project has now been green lit. Phnom Penh property prices fallen 50 percent since 2008. ...