Economy and commerce
Revenue surges 40 percent at water supplier
Revenue for the state-owed Phnom Penh Water Supply Authority (PPWSA) surged more than 40 percent last year from 2014, according to a preliminary report released last week. ...
May Kunmakara
http://www.khmertimeskh.com/news/20582/revenue-surges-40-percent-at-water-supplier/
Apparel companies cite union concerns
A visiting delegation from the American Chamber of Commerce in Hong Kong met with relevant ministries and stakeholders yesterday to discuss the progress of Cambodia’s trade union law and the issues surrounding industrial relations in the Kingdom. ...
Ananth Baliga
http://www.phnompenhpost.com/business/apparel-companies-cite-union-concerns
S. Korea is laying the foundation for accelerating growth
The flow of Korean investment into Cambodia has been in the spotlight for more than a decade, primarily foreign direct investment in the construction and property sectors. Investment from the East Asian nation continues its rise, and in 2014 South Korean investment in Cambodia ranked ...
May Kunmakara
http://www.khmertimeskh.com/news/20465/s--korea-is-laying-the-foundation-for-accelerating-growth/
Committee wraps up trade union law talks
The bipartisan committee tasked with examining the Kingdom’s controversial draft trade union law wrapped up its activities yesterday, ultimately making few of the substantive changes that unions demanded. ...
Pech Sotheary
http://www.phnompenhpost.com/national/committee-wraps-trade-union-law-talks
With AIIB, nation diversifies funding options
Though it’s extremely early days, experts this week welcomed Cambodia’s membership to the nascent China-led Asian Infrastructure Investment Bank (AIIB), saying it would provide much-needed diversity of funding for the nation’s infrastructure and connectivity needs. ...
Tej Parikh
https://www.cambodiadaily.com/news/with-aiib-nation-diversifies-funding-options-105893/
Kingdom’s road infrastructure pressured by increased car sales
Rising incomes are driving the growth of new and used car sales in the Kingdom, putting pressure on the Kingdom’s limited road infrastructure, an industry specialist said yesterday. ...
Ayanna Runcie
http://www.phnompenhpost.com/business/kingdoms-road-infrastructure-pressured-increased-car-sales
Business group airs union law concerns
Some of the country’s top business leaders laid out their main concerns with a controversial draft union law during a meeting with CPP lawmakers on Monday, including a stipulation that would let only 10 people form a union at a workplace. ...
Sek Odom and Zsombor Peter
https://www.cambodiadaily.com/news/business-group-airs-union-law-concerns-105839/
Firms urged to opt for arbitration, not courts, to settle disputes
Commercial arbitration is a swifter, less expensive and more confidential way to settle business disputes than going through the courts, and the expansion of the service here will make the investment environment more attractive, Van Sou Ieng, president of the Cambodian Federation of Employers and ...
European bank adds Cambodia to network
France’s BRED Bank, one of the largest lenders in Europe, plans to open its first branch in Cambodia by the end of the year as it expands its network in ASEAN, its CEO said, adding that it aims to assist small and medium-sized enterprises (SMEs) ...
May Kunmakara
http://www.khmertimeskh.com/news/19971/european-bank-adds-cambodia-to-network/
NBC moves to strengthen banks’ liquidity
The National Bank of Cambodia (NBC) is requiring financial institutions to gradually phase in a higher liquidity coverage ratio (LCR) to ensure sustainable growth in the industry and avoid crises. ...
May Kunmakara
http://www.khmertimeskh.com/news/19748/nbc-moves-to-strengthen-banks----liquidity/
Lacklustre prices, competition dampen cassava exports
Cambodian cassava farmers are facing dropping prices in the agro commodity this season, as the lack of a domestic market and dependence on exports, which faces competition from neighbouring countries, has led them to call for government intervention. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/lacklustre-prices-competition-dampen-cassava-exports
Rice exports miss the mark again
Five years after setting out an ambitious 1 million-tonne milled rice export target, the rice sector fell well short of the mark last year, exporting close to 550,000 tonnes, with industry experts cautiously optimistic over export increases in 2016. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/rice-exports-miss-mark-again
‘World’s largest’ sugarcane factory to open in Preah Vihear next month
A $300 million sugarcane processing factory will begin producing sugar in Preah Vihear province next month and it is being described as the world’s largest such factory, according to reports in local media. ...
Positive growth has ports upbeat
Cambodia’s two international ports – the Phnom Penh Autonomous Port (PPAP) and Sihanoukville Autonomous Port (SAP) – yesterday reported increases in container traffic last year, with the latter looking to go public this year in a bid to fund an expansion plan. ...
Sor Chandara
http://www.phnompenhpost.com/business/positive-growth-has-ports-upbeat
Cargo ship with flag of Cambodia detained
Russian authorities have temporarily detained a cargo ship flying the Cambodian flag near Crimea in the Black Sea on January 3, a spokesman for Russia’s Federal Security Service (FSB) said yesterday. ...
Igor Kossov
http://www.phnompenhpost.com/national/cargo-ship-flag-cambodia-detained
Mobile money transfer heats up
True Money, a new entrant to Cambodia’s growing mobile money-transfer market, said yesterday it will start operations across the Kingdom from January 1, with the first phase focusing only on local transfers, according to a company official.The money-transfer service, which comes under the Thailand-based Charoen ...
Kun Kourchettana
http://www.phnompenhpost.com/business/mobile-money-transfer-heats
Change of the guard
With the ASEAN Economic Community (AEC) expected to intensify business competition across the region, Thailand’s biggest industrial conglomerate expects to rise to the challenge under a new leader.Kan Trakulhoon is retiring as president and chief executive of Siam Cement Group (SCG) after a decade at ...
Nareerat Wiriyapong
http://www.bangkokpost.com/business/news/808916/change-of-the-guard
Expect even stronger investment flows from EU, US in 2016: economists
Several new trade pacts will help Vietnam attract more foreign investors next year as the country will become more open and better connected to some of the world’s largest markets, economists say. ...
EU still the Kingdom’s best export destination
The European Union will continue to remain Cambodia’s biggest export recipient, mopping up $2.32 billion in shipments this year, with the US following a close second at $2.07 billion, according to Commerce Ministry estimates. ...
Sor Chandara
http://www.phnompenhpost.com/business/eu-still-kingdoms-best-export-destination
Thitikorn to open two branches in Cambodia
Listed hire-purchase company Thitikorn plans to open two branches in Cambodia next year, after being in the market for one year and finding huge opportunity and high demand for motorcycle lending there, managing director Prathama Phornprapha said yesterday. ...
The Nation News Staff
http://www.nationmultimedia.com/business/Thitikorn-to-open-two-branches-in-Cambodia-30275540.html
Shinhan Bank opens 5th branch in Cambodia
Shinhan Bank announced on Dec. 23 that it has opened a new branch in Steng Min Chey, an emerging developing area in Phnom Penh, in order for Shinhan Khmer Bank, a subsidiary of Shinhan Bank in Cambodia, to accelerate its business in the country. ...
Port shares rise 7 percent since debut
Share prices of Phnom Penh Autonomous Port (PPAP), Cambodia’s second-largest port, have been rising steadily since their December 9 debut, while the volume of shares changing hand has been heavier compared to the two other companies listed on the Cambodia Securities Exchanges (CSX), officials say. ...
May Kunmakara
http://www.khmertimeskh.com/news/18986/port-shares-rise-7-percent-since-debut/
PPWSA’s Q3 profit hit by expenses
Cambodia’s first listed company, the Phnom Penh Water Supply Authority, yesterday reported a 41 per cent drop in profits after tax for the quarter ending September 30, with the company attributing the drop to an increase in expenses incurred over the quarter. ...
Ananth Baliga
http://www.phnompenhpost.com/business/ppwsas-q3-profit-hit-expenses
SK Hynix shows global corporate social responsibility in Cambodia
SK Hynix announced on Dec. 21 that its employees, who were taking part in the overseas training program for outstanding employees, did volunteer work for the underprivileged in Cambodia. ...