Economy and commerce

Complaints Submitted in K Chhnang Land Dispute

A development company owned by the wife of the Minister of Industry, Mine and Energy Suy Sem has been the target of 40 civil complaints received by the provincial court of Kompong Chhnang province. Chea Kheng claims she owns the 214-hectare plot of which 69 ...

Valuers to meet in Siem Reap

Real-estate evaluators from the ASEAN Valuers Association (AVA) have met in Siem Reap in order to improve the industry. The AVA wants to develop the Cambodian real-estate market by assisting developers and investors. Those attending the conference share experience and ideals will offering training to ...

http://www.phnompenhpost.com/index.php/2011072050510/Business/land-pricing-valuers-to-meet-in-siem-reap.html

Cambodia targets de-dollarisation, crisis prevention

Cambodia’s financial strategy for the next decade includes de-dollarisation, improved regulations and better crisis prevention and management. The Financial Sector Development Strategy (FSDS) was released by the Ministry of Economy and Finance in partnership with the National Bank of Cambodia (NBC) and financed by the ...

http://www.phnompenhpost.com/index.php/2011072050512/Business/cambodia-targets-de-dollarisation-crisis-prevention.html

Buyers going for gold

Consumer interest in gold has increased in Cambodia even with the price of gold at a record high. Gold is up more than $333 from the same time last year. The increase in gold prices is said to be a result of the 2008 financial ...

http://www.phnompenhpost.com/index.php/2011072050514/Business/buyers-going-for-gold.html

Court again frustrates locals in KDC

KDC International, which is owned by Chea Kheng the wife of Industry Minister Suy Sem has been accused of grabbing 145 hectares of land in the Kampong Chhnang province. The villagers who claim the land have filed objects individually, after having been told to do ...

Mfone’s pricing plan draws controversy

The launch of Mfone’s new unlimited calling plan has drawn criticism from the Ministry of Post and Telecommunications. It is said that the price scheme contravenes Cambodia’s minimum pricing rules introduce in 2009. Hello, another mobile phone provider, has already introduced an unlimited calling plan ...

http://www.phnompenhpost.com/index.php/2011071950472/Business/mfones-pricing-plan-draws-controversy.html

Imports from Thailand show decline

The Thai embassy has released figures that show that exports to Cambodia have decreased slightly from $1.095 billion to $1.091 billion. Total trade between the nations has increased by 3.5 percent for during the first of the year when compared to last year. Cambodia has ...

http://www.phnompenhpost.com/index.php/2011071950473/Business/bilateral-trade-imports-from-thailand-show-decline.html

Indochine announces positive gold results

Indochine Mining Ltd an Australian mining company has released the results from its initial test of its Kratie North concession. Indications are that there is the possibility for a large deposit though the company has not made any claims so far. Cambodia is relatively unexplored ...

http://www.phnompenhpost.com/index.php/2011071950475/Business/indochine-announces-positive-gold-results.html

Cambodia Stock Exchange to Push Transparency

When the Cambodia Securities Exchange (CSX) was officially launched on Jul. 11 there were no companies listed because of a drive to ensure that everything was above board. “We want to assure full transparency,” says Huot Pum, the deputy director-general of the Securities and Exchange ...

Marwaan Macan-Markar
http://www.ipsnews.net/2011/07/cambodia-stock-exchange-to-push-transparency/

The ‘King of Koh Kong’ speaks out

Senator Ly Yong Phat, owner of the Phnom Penh Palm Sugar and Kampong Speu Sugar companies, has released a statement as a result of US diplomatic cables released by Wikileaks that describe him as “The King of Koh Kong”. He answers such questions as why ...

http://www.phnompenhpost.com/index.php/2011071450378/National-news/the-king-of-koh-kong-speaks-out.html

Taiwanese bank eyes Kingdom

Mega International Commercial Bank, a Taiwanese bank, has been in talks with the National Bank of Cambodia (NBC) about setting up operations in Cambodia. The kingdom is said to be an emerging financial sector. The initial branch will be in Phnom Penh in order to ...

http://www.phnompenhpost.com/index.php/2011071350354/Business/taiwanese-bank-eyes-kingdom.html

Laos, Vietnam indicate the way

Stock exchanges in Laos and Vietnam are being used for comparison when trying to determine the model that the Cambodia Securities Exchange (CSX) will take. The CSX has opened officially but no trading has begun. Cambodia’s stock exchange is expected to be more successful than ...

http://www.phnompenhpost.com/index.php/2011071250327/Business/laos-vietnam-indicate-the-way.html

Premier orders review of marine dredging

Prime Minister Hun Sen has order a review of dredging operations and the impacts that they have on Cambodia’s islands and beaches. Freshwater dredging has also been ordered to go under review, with the Prime Minister calling for the Minister of Water Resources and Meteorology ...

http://www.phnompenhpost.com/index.php/2011071250319/National-news/premier-orders-review-of-marine-dredging.html

Minister’s appeal to listed companies

The opening of the Cambodia Securities Exchange (CSX) was marked by a speech from Minister of Finance Keat Chhon, who urged three state-owned companies to speed up their initial public offerings. No companies, state-owned or otherwise are currently trading on the new market. Telecom Cambodia, ...

http://www.phnompenhpost.com/index.php/Business/lets-get-the-ball-rolling.html

Canadia Bank Nominates Lor as New CEO

Michael Lor of Malaysian-based EON Bank has been nominated to replace Pung Kheav Se, the current CEO of Canadia Bank. The information has been passed to the National Bank of Cambodia and is awaiting approval following a board meeting on June 30, 2011. The move ...

Leopard Spots More Investment Opportunities

Approximately US $75 million will be invested in Cambodia and Laos by Leopard Capital. The company will focus on financial service, agriculture and power. The 10 year fund is targeting annual returns of 25 percent and will favor renewable energy sources. ...

World Bank No Longer Funding State-Run Radio

The World Bank has ceased funding Radio National Kampuchea (RNK) as of last month due to a failure to comply to the bank’s Demand for Good Governance Project agreement. The funding ended on June 30. The World Bank granted RNK US $20 million with a ...

Firm Accused of Poisoning Villagers on Revoked Land

More than 170 villagers in Kampot province have become sick after being sprayed with herbicides by a company last week. The land granted World Tristar Entertainment Co, a subsidiary of So Nguon company, in a concession was revoked by the government in April but was ...

Premier Approves Four More Land Concessions in Mondolkiri

Prime Minister Hun Sen has granted for more land concessions in Mondolkiri province. The concessions total more than 38,057 hectares. Pacific Lotus Joint stock received 9,014 hectares; Pacific Pearl Joint Stock received 9.614 hectares; Pacific Grand Joint Stock received 9,656 hectares and Pacific Pride Joint ...

Boeng Kak Project Breaks Ground Amid Continued Protests

CPP Senator Lao Meng Khin was joined by his wife as they broke ground on the controversial project taking place at Phnom Penh’s Boeng Kak Lake. They unveiled the architectural renderings of the towers to be built on what used to be the site of ...

Ly Yong Phat Group Plans $200M Satellite City in Phnom Penh

1,300 hectares of land in Phnom Penh and Kandal province have been privatized and conceded to the LYP Group in order for them to be developed into a satellite city. LYP Group is owned by CPP Senator Ly Yong Phat. Prime Minister Hun Sen signed ...

Graft Risk Leads FedEx to Limit Local Business

In order to comply with legislation that prohibits bribery of public officials logistics company FedEx has limited its inbound shipments to Cambodia to those valued under $300. Customs and CamControl officials regularly impose unofficial payments to facilitate the customs and excise process. FedEx, initially announced ...

Stock Exchange Launches, Waits for Customers

The Cambodian Stock Exchange in Phnom Penh was launched by Finance Minister Keat Chhon, who has called on state-owned corporations to prepare for their initial public offerings. No companies as of yet are listed on the Cambodian Securities Exchange (CSX), though the launch was symbolic ...

Seoul looks abroad for farmland

The South Korean government is looking to procure farmland aboard, approximately 380,000 hectares by the year 2018. The government is providing assistance to companies that lease arable land or buy stakes in overseas operations and are looking for such potential in Cambodia as well as ...

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