Investment

Construction has started on the 22-storey Toyoko Inn Hotel, which will cost US$20 million to build, near the Hang Bridge. The project is due to be completed in November 2014. Touch Somnang, the Project Manager for the Koh Pich development project, said the Toyoko Inn Hotel ...

Solar-powered tuk-tuks could be rolling off the assembly lines in Phnom Penh as early as March next year, allowing local tuk-tuk drivers a cost-effective and greener alternative to using petrol, according to the company manufacturing the vehicle. Star 8, the Australia-based alternative energy firm behind the ...

Canada-based Learning Jungle School, an early learning and child care provider, will enter the expanding Cambodian pre-school market, planning to start operations in January 2014. Ly Virak, Learning Jungle School franchisee for Cambodia, said there is an increasing number of young Cambodian parents who understand the ...

Cambodian Ministry of Commerce said Friday that it had issued operating licenses to 1,952 new companies in the first eight months of the year, down 15 percent compared with the 2,300 firms over the same period last year. During the January-August period this year, the ministry ...

U.S. Ambassador William Todd on Thursday said that despite his efforts to promote Cambodia as an attractive destination for business, major American companies are reluctant to invest here as they still perceive the country as indelibly corrupt. “I believe now is the time for big U.S. ...

Philippine Airlines plans to launch flights between the Philippines and Cambodia, according to an aviation official. The move would break the monopoly of domestic competitor Cebu Pacific Air, which started flying the route in April last year. Aviation authorities in the Philippines sent a letter to ...

Parkson Holdings Bhd (PHB)’s expansion into Phnom Penh, Cambodia, via its proposed Parkson Mallwould provide it with a steady income stream in the long term, mainly from rental yield, according to Affin Investment Bank. The proposed location of the mall – directly opposite the Phnom Penh International ...

Australian green energy company Star 8 has designed a solar-powered tuk-tuk and is in the process of building a factory in Cambodia to make the vehicles, according to a report in Australian newspaper The Age. The vehicles’ makers said the tuk-tuks will cost between A$2,000 (US$1,865) ...

Security barricades and razor-wire installations set up around Phnom Penh yesterday were supposed to maintain order as the opposition Cambodia National Rescue Party kicked off what it promised to be three days of mass protests. But the show of force and control had more of an ...

Minor Hotel Group Ltd (MHG), a wholly owned subsidiary of Thailand-listed Minor International Public Company Limited (MINT), has acquired majority ownership of Siem Reap-based Sothea Boutique Resort to strengthen MINT’s presence in Southeast Asia. After the $6.4 million deal, the Sothea Resort will be rebranded ...

State-owned Green Trade Company has signed an agreement with China’s Shandong Meijing Rice Co Ltd to export 100,000 tonnes of Cambodia’s milled rice. The deal was signed between Chinese and Cambodian officials on September 4 at the China-ASEAN summit in the southwest Chinese city of Nanning, ...

Although China has undergone an unprecedented economic slowdown, Chinese and Cambodian officials believe it will not seriously affect Cambodia’s economy. Over the past nine months, China’s GDP grew slightly above 7 percent, its slowest pace in 13 years, and some economists expect poor performance for the ...

By 10am, Siv Lin, the owner of a mobile food stall facing Phnom Penh’s Freedom Park, had prepared all the rice, pork, eggs and vegetables needed to serve yesterday’s regular lunch crowd. It was a normal day. But on September 7, when thousands of opposition Cambodia ...

Revenue generated by the country’s insurance firms increased 25 percent to $22 million in the first six months of this year compared to the same period last year, according to data released Tuesday by the General Insurance Association of Cambodia (GIAC). Engineering insurance has become the ...

India-based Tata International Ltd announced yesterday that it would import and distribute its Farmtrac Tractors in Cambodia to profit from the country’s growing agricultural sector. Speaking at the launching ceremony at the Koh Pich exhibition centre, Jitendra Manghinani, country manager of Tata South East Asia (Cambodia), ...

OZ Minerals has emerged with 16 per cent of Cambodia-focused Renaissance Minerals after agreeing to push back a deal that could have forced the gold explorer to stump up a $10 million payment on its Okvau deposit in the South-East Asian nation. Renaissance’s purchase of the ...

Taiwan’s E. Sun Commercial Bank has purchased a 70 per cent stake in Cambodia’s Union Commercial Bank. The deal, planned for months but announced yesterday at a press conference at the Sofitel hotel in Phnom Penh, will bring technology upgrades and more loan capital to the ...

An investment company owned by the Singaporean government is a minority partner in a fully licensed commercial bank set to open later this month in cooperation with Canadia Bank PLC and the country’s postal service, a source familiar with the deal confirmed Tuesday. Fullerton Financial Holdings, ...

Investments in Cambodia’s construction sector have continued to grow sharply in the first six months of the year thanks to sound economic growth and investors’ trust in the country’s political stability, Im Chhun Lim, the country’s Minister of Land Management, Urban Planning and Construction, said ...

Japan-based Mizuho Bank (MHBK) has signed an agreement with two well-established banks in Cambodia that is designed to help Mizuho leverage a wider range of financial services when dealing with Japanese clients. The memorandum of understanding was inked on Friday in Phnom Penh between Mizuho’s president ...

Microsoft Cambodia has appointed Thakral Cambodia Industries Limited as its second authorised software distributor in the country, a move intended to help the computer giant’s local operation combat the rampant use of pirated software. Thakral, one of the largest distributors of IT products in Cambodia (its ...

Hongkong Land broke ground on Friday on a $100 million mixed-use development project in Phnom Penh’s financial district. Called Landmark, the building by the Hong Kong-based property group will be on a 10,700-square metre site on Street 106 near the capital’s Freedom Park. “One of Hongkong Land’s ...

Cambodian consumer spending on major domestic appliances such as air conditioners, refrigerators, washing machines and microwave ovens, saw a roughly 22 per cent year-on-year increase over the first six months of 2013, according to Germany-based research institute GfK. The rise comes alongside a 20 per cent ...

Small and Medium enterprises (SMEs) in Cambodia have so far seen an increase, reaching the number of around 560,000. However, this sector does not grow with reliability and the capacity in business operation does not go to international market standard or standardization of free market. ...