Banking Sector Sees Strong Growth in 2011
Earnings from two of Cambodia’s banks have shown growth within the sector for the first six months of 2011. Acleda Bank and Cambodian Public Bank Plc, have had their profits rise to $21.7 million and $13.4 million respectively. The banks have grown as a result ...
Police Detain Recruitment Agency Chief for Suspected Fraud
The director of a recruitment agency in Siem Reap will face fraud charges today at the provincial court for allegedly taking money from victims in exchange for promised jobs in the U.S., police said yesterday. Hong Bunhav, chief of research and investigations section of the Siem ...
Pursat Police Official Charged Over Illegal Fishing
The Pursat Provincial court on Friday charged Krakor district’s judicial police bureau chief for taking bribes in order to allow illegal fishing in the Tonle Sap Lake, officials said yesterday. [Hong Bunthoeun] stands accused of accepting bribes to allow illicit fishing in parts of the Tonle ...
Malaysian bank eyes the affluent
A new Malaysian player in Cambodia’s expanding banking sector aims to capture the “emerging affluent” with its mobile and online services. Malaysian-based Hong Leong Bank will begin operating in Phnom Penh today, with a branch on Street 214. Joe Farrugia, CEO of Hong Leong Bank Cambodia, ...
http://www.phnompenhpost.com/2013070866710/Business/malaysian-bank-eyes-the-affluent.html
Regulator sees growth
Camcontrol revenues for the first nine months of the year hit US$7.9 million, surpassing the Ministry of Economy and Finance’s revenue goal of $6 million for the year. Kong Putheara, director of the Ministry of Commerce’s statistics department, this week said the unexpected growth came from ...
http://www.phnompenhpost.com/index.php/2011110352505/Business/regulator-sees-growth.html
Memorandum to fight money laundering
The General Department of Taxation (GDT) signed a memorandum of understanding with the Financial Intelligence Unit of the National Bank of Cambodia (FIUNBC) to exchange information on money laundering and the financing of terrorist activities. ...
Sum Manet
http://www.khmertimeskh.com/news/26678/memorandum-to-fight-money-laundering/
Non-taxpayers targeted
The government will not increase the rate for income tax and other taxes for the next two years, but will instead concentrate on expanding the base for tax collection, taking into account that there are still many individuals and businesses that do not pay tax ...
Sok Chan
http://www.khmertimeskh.com/news/30034/non-taxpayers-targeted/
Cambodian PM vows to protect environment
Cambodian Prime Minister Hun Sen said Monday he decided to choose environment protection, not to choose 30 billion U.S. dollar expected revenues from the exploitation of titanium ore in Southwestern Cambodia. “According to a feasibility study, titanium ore deposit in Chhiphat district in Koh Kong province ...
http://news.xinhuanet.com/english/world/2012-12/17/c_132046623.htm
Environmental activist Chut Wutty shot dead
Cambodia’s most outspoken activist against illegal logging was shot dead today while escorting journalists near a protected forest in Koh Kong province, where he has repeatedly attempted to expose illegal logging rackets that include military officials. Chut Wutty, the director of Natural Resource Protection Group, was ...
Anniversary marked by inaction
Six months after two of her co-workers were crushed to death when a storage level collapsed at the Wing Star Shoes factory in Kampong Speu, employee Yu Manith is noticing the cracks in a factory wall beginning to expand. Shortly after police rummaged through the ...
Shane Worrell and Mom Kunthear
http://www.phnompenhpost.com/national/anniversary-marked-inaction
Signed up for work, forced into marriage
An NGO is working to free two Cambodian women forced into marriage in China, a representative of the organisation said yesterday. Huy Pichsovann, program officer at the Community Legal Education Center (CLEC), said that the two women, aged 22 and 27, were enticed from their Kampong ...
James Hall and Phak Seangly
http://www.phnompenhpost.com/national/signed-work-forced-marriage
Union bosses called in
Phnom Penh Municipal Court on Friday summonsed three senior leaders of Cambodia’s largest independent garment union for questioning over claims they embezzled money meant to be paid to workers in compensation following an industrial dispute, a court official has said. ...
Buth Reaksmey Kongkea
http://www.phnompenhpost.com/national/union-bosses-called
CNRP visits vietnamese prayer sites in Kampot
Bokor Mountain, Kampot province – Spurred on by social media rumors that Vietnamese tourists are flocking to this colonial-era retreat for elaborate, hidden ceremonies at the graves of their ancestors, CNRP lawmaker Yem Ponhearith on Thursday led about 50 officials here on a fact-finding trek. ...
Khuon Narim and Alex Willemyns
https://www.cambodiadaily.com/news/cnrp-visits-vietnamese-prayer-sites-in-kampot-77899/
90 Garment Factory Workers Faint Over Two-Day Period
About 90 garment factory workers fainted over a two-day period last week at Zhen Tai garment factory in Sen Sok district’s Phnom Penh Thmei commune, union officials and police said yesterday, though accounts of what caused the mass fainting differed. Thirty workers first fainted on ...
Microsoft translation project to tackle business jargon
American software giant Microsoft announced yesterday that it would jointly implement a project with Cambodia’s Ministry of Commerce to create a translation program to simplify complex English and Khmer business terminology in order to help businesses better understand commonly used jargon. ...
Hor Kimsay
http://www.phnompenhpost.com/business/microsoft-translation-project-tackle-business-jargon
Japanese grants set to aid local farmers
The Japanese government has provided $118,996 for constructing a cassava propagation and distribution centre in Battambang province. The fund comes in response to the recent challenges facing farmers in the province who are facing a shortage of cassava trees to plant. Kumamaru Yuji, Japanese ambassador to ...
http://www.phnompenhpost.com/2013032864733/Business/japanese-grants-set-to-aid-local-farmers.html
Cambodia Factories Grapple With Issue of Underage Workers
SIHANOUKVILLE, Cambodia—In this quiet beach town, Lim Loeung says she spends up to 80 hours a week gluing soles onto shoes at a factory that does work for companies including Japanese sneaker-maker Asics Corp. 7936.TO +0.95% The factory believes Ms. Lim is at least 18 ...
Kate O' Keeffe
http://online.wsj.com/news/articles/SB10001424052702303799404579287353595133592
A recipe for disaster
Small plastic packets filled with a mix of pills of various sizes, shapes and colours sit piled on the counter of a pharmacy in Phnom Penh’s Meanchey district, home to several large garment factories. At 2,000 riel a pop, about 50 cents, these packs are sold ...
Kevin Ponniah and Sen David
http://www.phnompenhpost.com/national/recipe-disaster
Exports Rise, but Value of Goods Remains Weak
Cambodia saw significant percentage gains in regional trade in the first six months of the year, though the gap between imports and exports remained large, according to data released yesterday by the Ministry of Commerce. According to the figures, the country saw regional exports to ...
Property Developers Seek Ministry Licenses
Several property developers ave approached the Ministry of Finance to ask for licenses after the ministry warned buyers last month not to purchase housing fro developers who are not licensed to sell their properties. The ministry’s warning, issued Aug 11, identified three local developers that ...