Foreign investors

Cambodian firm Angkor Gold Corp (ANK) on Thursday finalised a partnership agreement with Hong Kong firm Tohui Beishan Property Group Holding Limited (TG) worth more than $10.4 million. According to a company statement issued on the Toronto Stock Exchange, ANK granted the Hong Kong firm 7.9 ...

Information technology firm First Cambodia on Friday joined forces with little-known Singaporean investment company GlobalVision, in a move that aims to expand the local company’s international footprint. As part of the joint partnership, GlobalVision has purchased a 50 per cent stake in First Cambodia for an ...

Budget business hotel group Toyoko Inn hope to draw East Asian businesspeople and travellers to Phnom Penh The Toyoko Inn, which is a joint venture between the Overseas Cambodia Investment Corporation (OCIC) and a Japanese budget, business hotel chain, is slated to open in May 2015. ...

Realco Cambodia Ltd., a U.S.-owned company, plans to invest $7 million to build a market at the Phnom Din checkpoint on the border with Vietnam in Takeo province’s Kirivong district, a senior official at the Takeo, Kampot and Kep Provincial Chamber of Commerce said Friday. Realco ...

As Cambodian migrant workers return in droves from Thailand through the casino-laden border town of Poipet, Prime Minister Hun Sen is warning gambling parlour owners this does not mean a jackpot for them. “Casinos in Phnom Penh and along the border are not for Khmer citizens,” ...

Publicly listed Japanese conglomerate Resona Holdings signed an agreement yesterday with Cambodia Public Bank (Campu) aimed at increasing its customer base in the Kingdom’s banking sector. Resona Holdings subsidiary firms Resona Bank, Saitama Bank and Kinki Osaka Bank are all part of the agreement, which allows ...

The Cambodian government is drafting a series of changes to the Kingdom’s gaming laws in a bid to draw major players from Macau and the US to the market and potentially create a new tax base from the growing, if currently illegal, online betting industry, ...

The Japanese government will offer more than $21 million in grant aid and loans to Cambodia when Foreign Minister Fumio Kishida visits later this month, according to a statement released by the Ministry of Foreign Affairs. According to the statement, Kishida will ink a number of ...

A South Korean company on Monday completed a $100,000 energy-efficient street light initiative in Pursat province, and said it will now invest $100 million to construct a factory to manufacture the lights, officials said. The Global Digital Media Group Co. Ltd. installed 200 light-emitting diode (LED) ...

South Korea-based Woori Bank has purchased Cambodian microfinance institution Malis Finance for $4.9 million. Hun Soopheak, general manager of Malis Finance, said the deal was finalised two weeks ago; however, the firm is still awaiting approval from Cambodian regulators. ...

Chinese firm Huaxin Cement Co has purchased a 40 per cent stake in Cambodia Cement Chakrey Ting Factory Co, a cement-making factory currently under construction in Kampot province. Huaxin’s $24 million investment Cambodia Cement lifted the local factory’s working capital to $60 million, up from $32 ...

Acleda Bank has reinvested $39 million of profits back into its operations instead of paying out dividends to shareholders, an announcement on its website states. It is the 11th time Alceda has opted to increase registered capital, with the latest top-up taking the bank’s total capital ...

Prominent tycoon and ruling party senator Ly Yong Phat has now set his sights on the media landscape. Phat, the head of LYP Group, on Friday confirmed plans that he is seeking to set up a television station. The entry of an LYP channel, proposed as part ...

When Cambodia’s most prominent forest activist, Chut Wutty, was gunned down in April 2012, the community network he created to sabotage the rampant deforestation of this vast forest fragmented. The forest patrols that he organised nearly ground to a halt. Without money to fund large-scale expeditions, ...

Nine floors of the 32-storey BKK1 condominium project, Platinum Bay, are now completed and construction is slated to be completed by mid-2017. Platinum Bay is located on Street 282, not far from the soon-to-be-completed De Castle Royal, a part of town that property insiders see as ...

In what looks to be a concerted push into the Southeast Asian energy sector, Japanese import and export conglomerate Marubeni Corporation has acquired a large stake of Cambodia’s power generation infrastructure. In a Tokyo Stock Exchange filing dated June 2, Marubeni announced it had purchased a ...

Foreign and domestic investment in construction projects skyrocketed in the first four months of the year, government data suggests. Ministry of Land Management and Urban Planning data revealed last week shows total investment in new construction projects reached more than $1.4 billion at the end of ...

Following the success of Borey River Town, the investor behind it has announced plans to inject $100 million into developing a new project. General manager Teng Rith says that construction of Borey River Town is now 50 per cent complete, with some 80 per cent of ...

The Hong Kong-invested Casa Meridian project plans to launch sales and start construction at the end of this month. Casa Meridian is a skyscraper condominium development on Diamond Island (Koh Pich), which developers there hope will become a modern commercial and residential area of Phnom Penh ...

Australian-listed Cell Aquaculture (CAQ) – a onetime a marine technology company – has purchased a casino on the Cambodia-Vietnam border in a bid to generate much-needed revenue after nearing bankruptcy in 2013. On May 26, CAQ announced in a statement to the Australian Stock Exchange that ...

A group of 15 local and international rights groups Tuesday sent a slew of letters to the Chinese government and companies involved in the Lower Sesan II hydropower dam in Stung Treng province seeking a halt to dam construction due to serious environmental and social ...

Cambodia National Rescue Party president Sam Rainsy yesterday called on residents in the northeast provinces to defend their land lest the area be turned into a Vietnamese “colony”. Rainsy’s comments were quickly condemned by both the Cambodian and Vietnamese governments. Speaking to hundreds of people in Mondulkiri ...

Petrol station workers who were back on strike on Friday returned to work yesterday as they prepare to file a complaint to the Ministry of Labour against US-owned Caltex over alleged rights abuse. Yoeun Reth, one of 20 Caltex workers striking on Friday, said yesterday that ...

Two draft laws on judicial reform were easily passed by the single-party National Assembly on Friday but the session was overshadowed by a rookie lawmaker’s attack on lax enforcement of forestry laws in Stung Treng province. On the fourth day of the third plenary session of ...