Economy and commerce

The Supreme Court has requested that the owner of Phnom Penh’s shuttered Renakse Hotel deposit $200,000 with the court as proof that it is able to pay compensation to the hotel’s former manager, a lawyer said yesterday. In 2008, the ruling CPP sold the French colonial-era ...

Protecting human rights, especially those of Cambodian migrant workers traversing borders to countries such as Malaysia, dominated discussions at yesterday’s ASEAN Peoples’ Forum, one of two competing pre-summit forums that claim to be giving a voice to Cambodians. Speaking at yesterday’s forum, Seng Sakda, director-general ...

Diamond Island Development Co Ltd, owned by Canadia Bank, yesterday bought a 15 per cent stake in Investment and Development Company of Cambodia (IDCC)’s Cambodia-Vietnam Insurance Plc. The companies declined to give the value of the stake. Ngay Mengly, sales officer at Cambodia-Vietnam Insurance Plc, said ...

The three young women wounded in last month’s factory shooting in Svay Rieng province will meet with provincial prosecutor Hing Bunchea today to give their account of the February 20 incident that has yet to produce an arrest warrant. Bun Chinda, 21, Nuth Sokhorn, 23, and ...

The Asian Development Bank (ADB), one of the two major financiers of the rehabilitation of Cambodia’s railways, yesterday rejected criticism that they were providing insufficient resettlement packages to residents displaced by the project. On Friday, the ADB released a cost study that showed that the compensation ...

In addition to security and public order initiatives in the lead-up to next week’s Asean Summit, Phnom Penh authorities said yesterday they would be redoubling their “clean city” efforts. “We’re keeping security and order, and we asked Cintri [waste disposal company] to double the numbers of ...

ASEAN finance officials and the heads of regional central banks yesterday homed in on the possibility of economic crisis as well as potential means of averting contagion in fledgling Southeast Asian economies. The officials have also agreed “in principle” to doubling a regional currency fund to ...

The government is finalizing a draft law that will aim to prevent importers from price dumping and protect local producers by allowing authorities to raise tariffs on goods, according to a copy of the draft law. In the past, local producers have been negatively affected by ...

Green Trade, a state-owned, milled-rice exporter, had not been updated on a government-to-government rice deal with the Philippines despite recent media reports that claimed a deal was near. ...

As expected, the book-building phase for Phnom Penh Water Supply Authority’s initial public offering was significantly oversubscribed, the estimate being 17 times. Interested investors had the opportunity to bid at a price  no lower than 4,050 riel a share, and at a maximum of 6,350 riel ...

The Philippines is close to signing a government-to-government rice supply agreement that would make Cambodia a potential supplier of the grain staple to Manila, along with Vietnam and Thailand, agriculture officials said on Monday. The Southeast Asian neighbours aimed to sign a memorandum of understanding (MOU) ...

BETAGRO Group, one of Thailand’s largest integrated agro-industry businesses, announced this week that its US$16.3 million animal feed plant in Cambodia is 95 percent complete. The plant, 12 kilometers from Phnom Penh, will initially produce 12,000 tonnes of animal feed per year, but that number ...

A price has been set for Phnom Penh Water Supply Authority’s initial public offering, according to the Securities and Exchange Commission of Cambodia, after what was reported to be a significantly oversubscribed book-building process. PPWSA will sell for 6,300 riel, or US$1.57, a share, putting the ...

About 50 people protested in front of Pailin Provincial Hall yesterday against a government plan to turn their farmland in Sala Krao district into a special economic zone (SEZ), villagers and officials said. “It is the villagers that abuse the government land. They took the ...

Shares of the state-owned Phnom Penh Water Supply Authority (PPWSA) will trade at 6,300 riel, or $1.57, when the firm launches its initial public offering (IPO) on the Cambodian bourse on April 18, PPWSA announced yesterday. The price puts the company at the top of the ...

The 16th ASEAN Finance Ministers’ Meeting kicks off early today in Phnom Penh, where members of the 10-country association are expected to discuss strengthening regional financial ties and co-operation in the face of economic uncertainty in the West. ...

The upcoming visit of Chinese president Hu Jintao to Cambodia next week will build closer ties between the two countries, China and ASEAN as the visit is coincided with the 20th ASEAN Summit, said a senior official Sunday. The visit will also create more confidence among ...

The inquiry that targeted Hun To, dubbed Operation Illipango, investigated the shipment of heroin into Australia from Cambodia in loads of timber. Hun To, a nephew of Prime Minister Hun Sen, is a powerful and feared figure in Cambodia. He was once considered a close business ...

The contractor in charge of rebuilding Cambodia’s national railway has been cutting corners on the health and safety of its workers, according to a report published yesterday by the Asian Development Bank. TSO-AS & Nawarath, a French-Thai joint venture, was reportedly found to have grossly violated ...

Cambodia, in its role as Asean chair, has decided that the thorny issue of the South China Sea will not be on the agenda at next month’s Asean Summit in Phnom Penh, CPP lawmaker Cheam Yeap announced yesterday. “Cambodia is a neutral country, and based on ...

The morning before the verdict was handed down at the Appeals Court on March 12, the mood among those working on the defence team for Heng Chheang and his wife Tep Kolap was almost optimistic. They, along with relatives of the couple and academics from Phnom ...

Though less well-known than Kampot pepper, the price of Kompong Cham province pepper has increased by 44 percent from last year and is developing a following in Thailand, farmers and vendors said. With a total of 906 hectares of land dedicated to cultivating pepper in Kompong ...

Cambodian women have the most to lose from the planned 2015 ASEAN integration, a coalition of more than 100 Cambodian women said yesterday at the Cambodian Women Forum. Because Cambodian women are so poorly educated, when the job market opens up, competition from other countries like ...

Asean member countries were called on yesterday to work toward a “100 percent smoke-free” region, and Cambodia’s most famous smoker, Prime Minister Hun Sen, is behind the initiative, a government spokesman said. ...