Investment

The chief executives of the firms behind two large-scale real-estate projects in Cambodia have been sentenced to jail in Seoul for obtaining illegal loans and using the money to finance fictitious companies abroad, according to a South Korean court official. The two executives were among a ...

The governor of a city in southeastern Cambodia was arrested Friday in connection with a shooting that left three workers hospitalized as they took part in protests for better labor conditions at a sportswear factory that supplies goods to German sportswear giant PUMA. Moeun Tola, head ...

Phnom Penh Water Supply Authority is gearing up to price an initial public offering of up to $24 million on 18 April, making it the first stock to be traded on Cambodia’s fledgling stock exchange. Huy Vatharo, an executive director at underwriter Tong Yang Securities, ...

Phnom Penh Water Supply Authority aimed to raise US$20.4 million in a long-awaited initial public offering scheduled for mid-April, the company said yesterday during its first pitch to investors. “We’ve targeted trading for the 18th of April,” said Han Kyung-tae, managing director of Tong Yang ...

The Interior Ministry said yesterday that it has sent the results of an investigation into last weeks’s triple shooting of protesters at a special economic zone (SEZ) in Svay Rieng province to the provincial court there. Ministry spokesman Lieutenant General Khieu Sopheak did not reveal any ...

Eleven village representatives from Stung Treng and Ratanakiri provinces traveled to Phnom Penh yesterday to meet with National Assembly lawmakers and appeal for an end to the planned construction of the Lower Sesan 2 Dam. The hydropower project, funded by Vietnam Electricity, will flood tens ...

An International Monetary Fund and World Bank report has questioned Cambodia’s ability to deal with future financial crises if government borrowing increases. While the report indicated that Cambodia was at low risk for severe debt problems, it highlighted the need for effective management of new debt ...

The Sam Rainsy Party has asked Prime Minister Hun Sen to verify the details of a proposed dam that could inundate about 10,000 hectares of protected forest, citing concerns that it would lead to rampant illegal logging and devastate a traditional habitat of Siamese crocodiles. ...

Koh Kong villagers facing the loss of their land to a Chinese mega-tourism project held a news conference in Phnom Penh yesterday to appeal to the government for the right to remain on their property. Kith Ten, 54, from Kiri Sakor district’s Prek Khsach commune, ...

Cambodia’s economy is expected to grow 6.5 per cent in 2012, up from 5.75 per cent last year, the International Monetary Fund said in its annual review, adding that government policies to boost the investment climate were paying off. However, in its assessment, which was released ...

Trading on the Cambodian Securities Exchange should begin at the end of March as the Kingdom’s first stock, Phnom Penh Water Supply Authority, prepares to consult and share information with potential investors this week. The company would host a “roadshow” for investors in anticipation of its ...

About 1,000 workers returned to work at Kompong Cham province’s Manhattan Quing Dao Textile Corp yesterday after last week’s four-day protest, factory representatives said. Chan Seiha, the factory’s administration chief, said that the remaining 1,000 workers were not at work yesterday because the factory currently ...

The government has ordered all state institutions to start compiling a list of prices for all fee-based services so that individuals and companies can avoid informal payments, which were made illegal under the penal code last year, spokesman for the Council of Ministers Phay Siphan ...

Representatives from five communes in Koh Kong province are scheduled to hold a press conference in the capital today, appealing for government intervention in a land dispute with a Chinese development company that has spanned nearly four years. Lov Hov, a representative from Thmar Sar commune, ...

Government officials remained tight-lipped yesterday about progress in their investigation of the Feb. 20 shooting of three female garment workers during a strike and demonstration in Svay Rieng province’s Bavet city. On Feb 20, three women were wounded when a uniformed gunman opened fire at ...

The Australian Federal Police (AFP) have decided not to investigate the Australian mining company OZ Minerals, saying information that the firm paid hundreds of thousands of dollars to family members of officials in the Ministry of Industry, Mines and Energy (Mime) when buying out its ...

After four days of protests, which at times grew violent, striking garment workers at the Manhattan Qing Dao Textile Corp in Kompong Cham province said they would be resuming work Monday after reaching a tentative agreement with the company. On Thursday, more than 1000 workers ...

A Thai Company is conducting a feasibility study to build a coal-fired power plant in Koh Kong province and has already invested in a local firm with permission to develop the plant, according to officials and the company. In an announcement to the Thai Stock ...

Security footage of a shooting outside a shoe factory on Monday that left three protestors in hospital has been reviewed by police, the head of the special economic zone where the incident took place said yesterday. The three women were shot at a violent protest of ...

More than 1500 factory workers yesterday marched from the Manhattan Quing Dao Textiles Corp in Kompong Cham province to the provincial headquarters to ask authorities to force the factory owner to abide by two arbitration council rulings, a union representative and a factory worker said ...

A day after Interior Minister Sar Kheng revealed that authorities had identified a suspect in the shooting of three female factory workers at a special economic zone (SEZ) in Svay Rieng province, officials yesterday refused to reveal the identity of the gunman, who had still ...

The Securities and Exchange Commission of Cambodia has approved in principle the listing of Phnom Penh Water Supply on the Cambodian Securities Exchange, according to the SECC’s website. The announcement fell a step short from listing approval for PPWS, with the SECC requiring additional paperwork, including ...

A Chinese company is aiming to invest in cement production in Cambodia, according to officials at the Ministry of Industry, Mines, and Energy (MIME). The China Triumph International Engineering Company (CTIEC) would become one of Cambodia’s biggest cement producers and would invest in the Kingdom, said ...

Cambodia and China are willing to further promote bilateral cooperation in all fields in the framework of ASEAN-China relations, officials said Monday. The commitment was made during the official visit of Ma Mingqiang, secretary general of ASEAN-China Center, to Cambodia. In a meeting with Cambodia’s Minister ...