Microfinance Deposits and Loans Grow
Outstanding loans among micro-credit institutions increased by 6.7 percent to $505.46 million in the second quarter of this year compared to the first quarter, figures from the Cambodia Microfinance Association show. According to the data, deposits held by Cambodia’s 27 microlenders grew by 33.2 percent ...
Anco report flawed: auditor
The auditor who submitted a report used to convict a husband and wife of embezzling tens of millions of dollars from a company owned by the wife of a tycoon senator admitted yesterday that the quality of his audit was “poor”. The report was used ...
http://www.phnompenhpost.com/index.php/2012030954952/National-news/anco-report-flawed-auditor.html
Moody's says debt is stable, open to risk
Ratings agency Moody’s kept the outlook on Cambodia’s government debt at stable, though the firm said that the risk of default was still high and had raised concerns over the country’s ability to manage its finances. In a report released on Sunday, Moody’s said that Cambodia’s ...
$100m fund to target Kingdom’s growth
Vietnam-based Dragon Capital is raising up to US$100 million for a new Indochina fund, some of which the private equity firm would invest in Cambodian agriculture and infra-structure, Dragon’s chief information officer Bill Stoops said yesterday. Dragon Capital has a 20 per cent stake ...
MFI survey claims debtor success
A survey by Cambodian microfinancers showed debtors were better off in several respects than those who didn’t borrow from the institutions, MFI officials claimed. Responding to recent concerns over the role of microfinance institutions in creating poverty and loss of property in the Kingdom, the Cambodia ...
Maybank Cambodia aims to be in top 5 by 2015
Maybank launched yesterday its locally incorporated company in Cambodia, Maybank (Cambodia) Plc, and will also build a 10-storey corporate office with the aim of becoming one of the top five banks there by 2015. Currently ranked seventh in terms of assets among 33 banks operating ...
ADB’s assistance to Cambodia nears 2.9 bln
The Asian Development Bank (ADB) has committed over $2.8 billion in lending, grants, and technical assistance to Cambodia since 1966, making it the country’s largest multilateral development partner. The development Bank issued a report yesterday that puts its total contribution to Cambodia at $2.86 billion over ...
Sum Manet
https://www.khmertimeskh.com/50479970/adbs-assistance-to-cambodia-nears-2-9-bln/
Cambodia can achieve SDGs, but deep fiscal reform needed: ADB report
Cambodia has a good chance of achieving its social protection agenda under the Sustainable Development Goals (SDGs) but will need to balance different social protection investments, according to a report published on Wednesday by the Asian Development Bank (ADB). With the right fiscal reforms and policies ...
Economic outlook positive, ease of doing business still lagging: ADB
Cambodia’s economic outlook remains positive and the economy is forecast to grow at a robust 7 percent this year and next year, according to a report released by the Asian Development Bank (ADB) on Wednesday. Growth in exports, strong foreign direct investment, growing tourist arrivals ...
Hor Kimsay
https://www.phnompenhpost.com/business/economic-outlook-positive-ease-doing-business-still-lagging-adb
Kampot seaport to become ‘main gateway’ to region
With a quarter of construction work already completed, the new port in Kampot province will become the country’s main gateway to tourism destinations in the region, the minister of tourism said. The seaport, which is being builtin Tek Chhou district, will be ableto accommodate one ...
Sum Manet
https://www.khmertimeskh.com/50586568/kampot-seaport-to-become-main-gateway-to-region/
NGOs invited to discuss MFI report
Officials of NGOs Licadho and Sahmakum Teang Tnaut will attend a closed-door meeting at the Council of Ministers on Wednesday to explain the findings of their recent report claiming that increasing levels of debt at microfinance institutions (MFIs) has resulted in human rights violations. ...
Khorn Savi
https://www.phnompenhpost.com/national/ngos-invited-discuss-mfi-report
Cambodia’s ranking in World Bank index drops once again
The latest release of the World Bank’s ease of doing business index puts Cambodia in the 144th spot out of 190 countries, a drop of six places from a year ago. The 2019 ease of doing business index ranked the Kingdom 138th out of 190 ...
ADB says Cambodia to grow at 7% in 2018, 2019
The Asian Development Bank (ADB) forecasts that Cambodia’s gross domestic product (GDP) will grow by 7 percent in 2018 and 2019, backed by strong export growth, robust tourist arrivals, buoyant domestic demand, and an expansionary fiscal policy. ...
May Kunmakara
https://www.khmertimeskh.com/50536840/adb-says-cambodia-to-grow-at-7-in-2018-2019/
ADB set to provide $1.45B to aid growth
The Asian Development Bank (ADB) has announced that it will provide $1.45 billion to support a new five-year country partnership strategy (CPS) and help the Kingdom achieve its goal of becoming an upper-middle-income country by 2030, it said on Friday. ...
Thou Vireak
https://www.phnompenhpost.com/business/adb-set-provide-145b-aid-growth
Prime Road Alternative wins rights to 60MW solar farm
Prime Road Alternative Company Limited won construction rights to a 60MW solar farm project at an auction, according to the Asian Development Bank (ADB). An ADB press release released last week shows that the auction, which was conducted by Electricite du Cambodge (EdC), ended with ...
Thou Vireak
https://www.phnompenhpost.com/business/prime-road-alternative-wins-rights-60mw-solar-farm
Local startup earns spot in fintech ranking
Cambodia was this month recognised for the first time in the 2019 Fintech100 – a collaborative effort between H2 Ventures and KPMG that analyses the fintech space globally. ...
Gerald Flynn
https://www.khmertimeskh.com/50661022/local-startup-earns-spot-in-fintech-ranking/
MFI employee jailed for embezzling $300,000
A former employee of a microfinance institution (MFI) was Tuesday jailed on charges of embezzling some $300,000 from the company, a court official said. ...
Kang Sothear
https://www.cambodiadaily.com/news/mfi-employee-jailed-for-embezzling-300000-109664/
Banks covering their assets
Cambodian financial institutions surveyed yesterday said they were in compliance with the central bank’s revised liquidity coverage ratio (LCR) requirements as the deadline passed to increase their cash and highly liquid assets to weather any internal or external shocks. ...
Kali Kotoski
http://www.phnompenhpost.com/business/banks-covering-their-assets
MFI employee jailed for embezzling $300,000
A former employee of a microfinance institution (MFI) was Tuesday jailed on charges of embezzling some $300,000 from the company, a court official said. ...
Kang Sothear
https://www.cambodiadaily.com/news/mfi-employee-jailed-for-embezzling-300000-109664/
Expanding trade and tourism
Over the last few years the Director of the Statistics Department at the National Bank of Cambodia began observing an unanticipated development while conducting field observation studies of trade at border crossings – the riel is being accepted for purchases in neighbouring counties. ...
Riel Gains
http://www.khmertimeskh.com/news/36315/expanding-trade-and-tourism/