News

The government needs to urgently amend its industrial development policy to spur the inclusive growth of small- and medium-size enterprises (SMEs) and develop a national logistics platform to cut onerous shipping costs if Cambodia is to find a place in global value chains, panellists at ...

The chief executive of ANZ Royal Bank has denied media reports that the Australian and New Zealand Bank Group (ANZ) is considering pulling the plug on its Cambodian operations amid a planned retreat from the region’s markets. ...

Six weeks since the close of the fiscal first half, none of the four listed companies on Cambodia’s stock exchange have issued their required half-year financial statements, and one firm has not disclosed any financial data since 2014 – casting doubts on the tiny bourse’s ...

More than 150 residents from Kampong Speu’s Oral district gathered at the Equitable Cambodia (EC) headquarters and the National Assembly on Friday to withdraw their complaints over land against the Phnom Penh Sugar Company, which is owned by magnate Ly Yong Phat. ...

Since its launch in 2005, ANZ Royal Bank has grown to become one of the top-end banks in Cambodia, and has increased its focus on core areas of e-banking, corporate clients and introducing efficiencies in its operations. ...

The National Bank of Cambodia has decreased the minimum value of negotiable certificates of deposit (NCDs) in a bid to promote interbank lending in the Kingdom’s crowded financial industry. ...

The Council of Ministers released a new policy on Friday aimed at boosting Cambodia’s industrial development beyond the garment and food sectors, placing Preah Sihanouk province at the center of plans to modernize the country’s economy. ...

An inter-governmental anti-money laundering group has stopped monitoring Cambodia after it said the Kingdom had made “significant progress” toward fighting financial crimes. ...

A return to political stability means business confidence in the Cambodian economy remains buoyant, but ongoing government reforms are now needed to give companies greater assurance of future growth prospects, according to the latest business confidence survey from ANZ Royal Bank. The ANZ Royal Business Confidence ...

More than 200 villagers from Kampong Speu protested in front of ANZ Royal Bank’s headquarters in Phnom Penh yesterday, demanding the bank pay them compensation. ...

The launch of an unrated Laotian government bond on Thailand’s bond market could pave the way for Cambodia to issue its own government bond denominated in Thai baht. The Bangkok Post reported yesterday that Thailand’s Finance Ministry and Public Debt Management Office had allowed Cambodia, Vietnam ...

ANZ has ruled out helping hundreds of poor Cambodian families forcibly evicted from their land to make way for sugar-cane plantations that involved child labour and led to food shortages. Fairfax Media this year revealed confidential audits that disclosed that ANZ’s Cambodian subsidiary, ANZ Royal Bank, ...

About 100 villagers who lost land to a sugarcane plantation, which was until recently financed by ANZ Royal Bank, traveled to Phnom Penh to protest in front of the bank’s headquarters Thursday, but failed to convince the bank to help them. Several hundred families in Kompong ...

Farmers from Kompong Speu province handed ANZ Royal Bank a petition on Friday insisting it still had a responsibility to help mend the damage done by a sugar plantation in has helped finance, even though the bank and plantation recently parted ways. They threatened to start ...

Early this month, in what looks like a failed attempt to save its reputation, Australia‘s ANZ Bank severed its ties with Phnom Penh Sugar, a company accused of a range of human rights abuses linked to its plantations in Kampong Speu province, Cambodia. The move ...

The commercial relationship between Australia and New Zealand Banking Group Ltd and Cambodia’s Phnom Penh Sugar has come to an end, The Australian reported Saturday. ...

ANZ Royal Bank and local microfinance institution Hattha Kaksekar Limited (HKL) on Monday entered into the first partnership of its kind in Cambodia in a bid to bring together clients from either side of the financial spectrum. Following the signing of a Memorandum of Understanding at ...

Cambodia lacks the skilled labor force necessary to advance the economy and the government must find ways to create more valuable work as it faces fierce regional and international competition, according to a new report released Thursday by the World Bank. The report, “East Asia Pacific ...

Local conglomerate Royal Group said Tuesday that while it is committed to its partnership with Australia-based ANZ bank, it would entertain selling its stake in ANZ Royal Bank for “a very high offer.” “The Royal Group would like to clarify that it is a strong and ...

Executives from Australia and New Zealand Banking Group Limited (ANZ) and local partner Royal Group of Companies (RGC) both went into damage control yesterday after comments by ANZ chief executive officer Mike Smith suggesting the joint banking venture between the two was on the rocks. Royal ...

Australia and New Zealand Banking Group Ltd, the country’s third-biggest lender, is keen to exit its holding in Cambodia and will look at wholly owned business models wherever regulations allow. “We got out of a relationship, a small relationship, in Vietnam. We would like to ...

A 44-year-old woman was run over and killed by a harvesting machine on Sunday while working on a sugarcane plantation in Kompong Speu province owned by CPP Senator Ly Yong Phat, marking at least the second death on the plantation since December. Y Mom, originally from ...

Shareholders will want answers from ANZ bank after it was revealed this week that the banking giant’s joint venture in Cambodia financed ruling party senator Ly Yong Phat’s controversial sugar plantation, the Responsible Investment Association Australia (RIAA) said yesterday. Environmental audit documents obtained by the Post on Tuesday ...

Three NGOs on Wednesday called on ANZ Royal Bank to help the hundreds of families who have lost farmland to a sugar plantation that the bank helped to finance in Kompong Speu province. The NGOs also made public a 2013 social and environmental impact assessment of ...