Economy and commerce

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 ...

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 ...

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. ...

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. ...

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. ...

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. ...

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.  ...

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. ...

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. ...

Chinese Ambassador Bu Jiangua re-affirmed China’s commitment to the “One Belt, One Road Initiative” yesterday at a symposium in the capital.  ...

Muang Thai Life Assurance (MTL) is planning to expand to the Cambodian market early next year, according to a report in the Bangkok Post. ...

SET-listed Siam Cement Group (SCG) will spend US$200 million to expand its investment in Cambodia from 2016-20.The focus will be on the cement and building materials sectors, which have strong potential to grow amid the Cambodian government’s policy of revving up infrastructure projects, said Kan ...

The National Bank of Cambodia (NBC), or Central Bank, has issued ASEAN Commemorative Coins to mark the establishment of the ASEAN Community on December 31, according to its statement on Friday. ...

Prime Minister Hun Sen and his Thai counterpart, Prayuth Chan-ocha, agreed to boost bilateral trade by 300 percent—to $15 billion—by 2020 during meetings in which they also signed off on deals to open two new international border crossings and a railway line linking Phnom Penh ...

Sara Lamsam, president and chief executive officer, said yesterday that the company has formed a 49:51 joint venture called Sovannaphum Life Assurance with its partner Canadia Investment Holding, the holding company of Canadia Bank, Cambodia’s second-largest bank. ...

After seven years under discussion and a series of drastic edits, the Trade Union Law is inching closer to being passed by the National Assembly. Human Rights Watch yesterday issued a statement on the latest draft of the union law, saying that while it ...

A day after the US Federal Reserve increased interest rates, which can potentially impact incoming investments and make debt more costly, experts say the Kingdom’s strong underlying growth will help maintain investments flows and leave the country largely unaffected.The Fed’s 25 basis point rate hike ...

In recent years, Cambodia has seen a surging number of small and medium-sized businesses, driven by young entrepreneurs. As of 2011, there are estimated 530,000 SMEs in Cambodia, but many lack access to capital to build strong and innovative businesses.​ ...

Mengly J. Quach Holdings (MJH), an umbrella for companies engaged in education, health care, food, media and financial services, is undergoing a restructuring and audit, and plans to spin off of its core educational arm ahead of a possible listing on the Cambodian stock exchange, ...

Exports from Special Economic Zones (SEZs) in Cambodia are projected to reach about 1.2 billion U.S. dollars this year, up 87 percent year-on-year, a local English newspaper reported Tuesday, citing figures from the Commerce Ministry.Exports from SEZs totalled 672 million U.S. dollars last year. ...

More than $15 billion exited Cambodia in illicit capital flows over the past decade, stripping the economy of money that could have been used for development, a new report showsA staggering amount of money was funnelled out of Cambodia in shady transactions over the past ...

Cambodia’s goods exports including the garment export in 2015 increased 25 percents in value in 2015, worth more than $4.5 billion, according to Ministry of Commerce’s figure. ...

East China’s Jiangsu province on Wednesday opened a trade and economic representative office in the Sihanoukville Special Economic Zone (SSEZ) in southwest Cambodia, aiming to further boost trade and investment ties between the two countries. ...

Cambodian Prime Minister Hun Sen said Thursday that his country has failed to export its targeted 1 million tonnes of milled rice this year. The volume of exports, however, was higher than last year, as for the whole 2014 more than 370,000 tonnes of milled ...