Investment

The Royal Cambodian government is continuing talks with US major Chevron regarding the delayed Block A offshore project that would be the Asean member nation’s first indigenous hydrocarbon development. In August 2010, eight years after being awarded the block, Chevron issued a declaration of commerciality and ...

Trade between Cambodia and China’s Hong Kong Special Administrative Region has seen a 19- percent growth in the first nine months of the year thanks to robust bilateral trade ties, Benjamin Chau, deputy executive director of the Hong Kong Trade Development Council, said here Wednesday. ...

The administrator charged with liquidating bankrupt mobile operator Mfone filed a complaint Tuesday with the Phnom Penh Municipal Court, requesting it to order two companies to pay money owed to Mfone after repayment negotiations apparently failed, the administrator said. Mobile payment service WING Cambodia Co. Ltd. ...

The minimum wage for garment factory workers can only be raised if international clothing brands sourcing from Cambodia pay more for their products, a Ministry of Labor official said Tuesday. Khieu Savuth, chief of the Ministry of Labor’s labor conflict commission, laid down the challenge a ...

Following the recent wave of luxury car brands entering the Cambodian market, RMA Cambodia’s CEO said yesterday that the firm will bring in UK brands Land Rover and Jaguar by opening a showroom before the end of the year. The newly appointed official authorised dealer will ...

Tokyo-based Sumitomo Mitsui Banking Corporation (SMBC) has signed a memorandum of understanding with the Phnom Penh Special Economic Zone (PPSEZ) to help support Japanese investment in Cambodia. The MoU was signed by SMBC President and CEO Takeshi Kunibe and PPSEZ Chairwoman Lim Chhiv Ho earlier this ...

H&M has pledged to pay a living wage to 850,000 textile workers after expressing frustration over a lack of action by governments to address working conditions in Asian factories in the wake of the Rana Plaza disaster. The world’s second-biggest clothing retailer said it would support ...

As salt farmers in Kep and Kampot provinces prepare for the upcoming salt season, they have expressed concerns that unstable weather conditions could cause a supply shortage on the growing domestic market. Salt production in Cambodia usually starts in early January and ends in late ...

A development company with a government concession for a high-end property project on the island of Koh Pos, also known as Snake Island, has announced that it will significantly alter its original plans for the project. The new plan, which must first be submitted for ...

Cambodia’s first Vietnamese wholesale market is being constructed in Phnom Penh, a Vietnamese trade officer told the Post yesterday. Tran Tu, trade attaché of the Vietnam Trade Office in Cambodia, said the new wholesale market seeks to enhance Vietnamese produce in Cambodia. The wholesale market, will be located ...

U.S. denim giant Levi Strauss continued to deny this week that its products are linked to the strife-torn SL Garment Factory in Phnom Penh, despite new photographs showing Levi’s trademark jeans stacked on benches at the plant in Meanchey district. The Singaporean-owned factory, which also produces ...

Vietnamese rubber firm Hoang Anh Gia Lai (HAGL) has failed to keep its commitments to address human rights and environmental abuses at its plantations in Cambodia, Global Witness said in a statement yesterday. In May, the London-based NGO published an investigation into two Vietnamese rubber companies ...

Environmental campaign group Global Witness on Thursday called on the International Finance Corporation (IFC) and Deutsche Bank to divest immediately from a Vietnamese firm whose rubber plantations in Cambodia are accused of rampant illegal logging and forced evictions of indigenous communities. The call came exactly six ...

Orix, a Japanese financial conglomerate, will acquire about $11 million shares in Acleda Bank PLC, Cambodia’s largest bank, by the year’s end, officials announced Wednesday, although industry executives said the investment appears only exploratory and likely won’t make more than a ripple in the banking ...

Clothing giant H&M is testing the garment production waters by entering into exclusivity agreements with factories in Cambodia and Bangladesh, according to a report from Bloomberg News yesterday. This means that Sweden-based H&M would buy all of the factory’s output. H&M, it seems, would still be ...

Cambodia’s Koh Russey Resort development project is aiming to attract large foreign investment by exhibiting in Hong Kong. The resort will showcase its properties and facilities at an exhibition from November 29 until December 1, according to the real estate company CBRE. Expert staff of all departments ...

A new local airline is applying to fly in Cambodia, according to aviation officials, at a time when the market is monopolised by national flag carrier Cambodia Angkor Air and a handful of carriers offering chartered routes. Royal Spirit Airlines last Friday met with the State ...

Malaysian financial services group Hwang-DBS Bhd is selling its eponymous bank in Cambodia for $40 million, the company has announced on the Bursa Malaysia. The sale is to Phillip MFIs Pte Ltd, a member of the Singapore-based PhillipCapital Group. PhillipCapital has an existing presence in ...

Orix Corp., Japan’s top leasing company, has agreed to buy a 6% stake in Cambodia’s largest bank by assets, Acleda Bank PLC, according to people close to the matter. It would be the first investment by a major Japanese financial institution in the Southeast Asian country, ...

This year, the Cambodian people celebrate their 60th National Day as well as the birthday of the Cambodia Kingdom’s royal army under the bright leadership of King Norodom Sihanouk, who relentlessly struggled against the French colonialists to gain independence (09-11-1953 – 09-11-2013). In 2010, Father ...

An eco-tourism initiative in Mondulkiri hit a snag this week when authorities asked management to vacate overnight guests while provincial officials determine whether the project is properly licensed to operate a guesthouse. Guests of the Elephant Valley Project (EVP), which is located in a Forestry Administration ...

Ningbo Thermal Power (shse:600982) will invest less than USD 16.67 million in building a thermal power arm to develop a heat and power cogeneration project in Sihanoukville Special Economic Zone (SSEZ), Cambodia. The joint venture will be responsible for building the heat and power cogeneration ...

Muhibbah Engineering (M) Bhd and its joint venture partner has secured two contracts valued at US$87mil (RM276mil) to build and expand two airports in Cambodia. Muhibbah has a 30% stake in SCA [Societe Concessionnaire de L’Aeroport]. The duration for the Phnom Penh Airport and Siem ...

The house always wins, except when there’s a disputed election scaring gamblers away from the tables. That’s the message from Entertainment Gaming Asia Inc, which operates casinos in Poipet town and Pailin province as well as supplying NagaWorld casino with slot machines. According to the company, Cambodia’s ...