Economy and commerce

Rolls-Royce to sell luxury automobiles in Cambodia

Fabled luxury car maker Rolls-Royce will soon be marketing its goods in one of the world’s poorest countries: Cambodia. Rolls-Royce Motor Cars announced Monday that it has joined with a Cambodian business partner to open a showroom in the Cambodian capital next month. ...

Fox News Staff
http://www.foxnews.com/leisure/2014/06/09/rolls-royce-to-sell-luxury-automobiles-in-cambodia/

New Zealand supports Angkor restoration

New Zealand will offer US$3.7 million in aid to Cambodia to support a five-year Angkor Wat preservation project. Accoriding to local media reports, the funding was signed, last week, between Bun Narith, Cambodia’s Apsara Authority and Brent Rapson the first secretary of New Zealand Embassy to ...

Wanwisa Ngamsangchaikit
http://www.ttrweekly.com/site/2014/06/new-zealand-supports-angkor-restoration/

Grand Twins’ listing date official, but late

The Cambodian Stock Exchange (CSX) has approved Grand Twins International’s (GTI) final submission of IPO documents and issued an official listing date of June 16. “Cambodia Securities Exchange has a great honor to inform the public that Grand Twins International (Cambodia) Plc is approved to be ...

Eddie Morton
http://www.phnompenhpost.com/business/grand-twins%E2%80%99-listing-date-official-late

GMAC to hold class on firing

Amid complaints from union and labour rights officials of illegal firings over the years, Cambodia’s garment factory association is holding a course on the termination process in Preah Sihanouk province today. ...

Sean Teehan
http://www.phnompenhpost.com/national/gmac-hold-class-firing

New MFI in town, ‘more still needed’

ORO Financecorp Plc held its official launch on Friday, joining the growing ranks of microfinance institutions in the Kingdom. ORO Financecorp started providing business, agricultural and tractor loans in January with a $4 million capital investment from Seng Enterprise Co Ltd of Cambodia and Creed Asia ...

Chan Muyhong
http://www.phnompenhpost.com/business/new-mfi-town-%E2%80%98more-still-needed%E2%80%99

Vietnam’s fish industry dominates in Cambodia

At Chraing Chamreh wholesale fish market in Phnom Penh’s Russei Keo district, men frantically scoop dark, snake-like Trey Phtok fish out of a huge steel tank and into a wicker basket. The flickering pile of tails and gaping mouths is placed on a scale and weighs ...

George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/vietnams-fish-industry-dominates-in-cambodia-60676/

Value of imported goods from Thailand jumps 14 percent

The total value of goods imported from Thailand increased more than 14 percent in the first four months of this year compared to the same period last year, according to data released Friday by the Thai Embassy in Phnom Penh. The figures show that the total ...

Kang Sothear
http://www.cambodiadaily.com/business/value-of-imported-goods-from-thailand-jumps-14-percent-60671/

Cambodia to diversify

Cambodia Ministry of Tourism hopes to encourage international tourists to visit coastal areas and ecotourism destinations to take pressure off Siem Reap. The ministry’s marketing & promotion department representative, Hou Sokhom, told TTR Weekly that the country needs to encourage tourists to travel more to other ...

Wanwisa Ngamsangchaikit
http://www.ttrweekly.com/site/2014/06/cambodia-to-diversify/

Tax revenue rises but at slower pace

The government’s tax revenue increased for the first five months of the year, but despite recent reforms, the growth rate is at a slower pace than for the corresponding period last year. According to data from General Department of Taxation (GDT) released on Wednesday, the state ...

May Kunmakara
http://www.phnompenhpost.com/business/tax-revenue-rises-slower-pace

Exporter under attack in rice row

In December 2011, the managing director of Megagreen Imex Cambodia, Renne Outh, proudly announced that his firm had inked a $21 million deal to be the first to ship Cambodian rice to the Philippines. Nearly two and a half years on, not a single Cambodian grain ...

Daniel de Carteret and May Kunmakara
http://www.phnompenhpost.com/business/exporter-under-attack-rice-row

Cambodia's tax revenue up 12 pct in first 5 months

Cambodia collected 444 million U. S. dollars in tax revenue during the first five months of the year, up 12 percent over the same period last year, said a press statement released by the General Department of Taxation on Wednesday. In May alone, the department ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/world/2014-06/04/c_133384006.htm

Printer cops $12k bill for bootlegged books

The owner of a printing house accused of infringing on the copyright of an author who contracted him was slapped with $12,500 in fines and damages by Phnom Penh Municipal Court yesterday. ...

Buth Reaksmey Kongkea
http://www.phnompenhpost.com/national/printer-cops-12k-bill-bootlegged-books

New BKK1 condo development shoots for 2017 completion

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 ...

Siv Meng
http://www.phnompenhpost.com/real-estate/new-bkk1-condo-development-shoots-2017-completion

New report sees strong tourism growth

CBRE Cambodia’s latest MarketView report sees strong growth in Cambodia’s international tourism sector, with particularly strong in international arrivals resulting in growth in hotel occupancy rates and durations of stay. According to the May report, international arrivals in 2013 increased 17.5 per cent, to a total ...

Post Staff
http://www.phnompenhpost.com/real-estate/new-report-sees-strong-tourism-growth

Instability delays CAA launching new routes

Cambodia Angkor Air (CAA) will delay the launch of its planned direct flights to Beijing, Tokyo and Singapore due to unrest in neighbouring countries, the airline said yesterday. Originally slated to open the new routes before the end of the year, tensions in Thailand and Vietnam ...

May Kunmakara
http://www.phnompenhpost.com/business/instability-delays-caa-launching-new-routes

Bridge SoHo launch receives warm reception

Sales of the SOHO (small office and home office) component of The Bridge condominium project, which will have 54 floors and will be built with an investment of $300 million, officially launched last week. Sear Rithy, director of World Bridge Land, said he was proud and ...

Hin Pisei
http://www.phnompenhpost.com/real-estate/bridge-soho-launch-receives-warm-reception

Japan firm buys share of new power plant

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 ...

Hor Kimsay
http://www.phnompenhpost.com/business/japan-firm-buys-share-new-power-plant

A factory or family dilemma

Being placed on consecutive short-term contracts in Cambodia’s predominantly female-staffed garment sector is forcing many women to choose between a family and a factory job, unionists and rights groups said yesterday. Ken Chenglang, acting president of the National Independent Federation Textile Union of Cambodia, said many ...

Amelia Woodside and Mom Kunthear
http://www.phnompenhpost.com/national/factory-or-family-dilemma

Poipet poor ‘bearing brunt of water woes’

A private utilities company owned by wealthy businessman and ruling Cambodian People’s Party Senator Kok An is fulfilling only about half of Poipet’s demand for clean water, despite being contracted to supply the whole town, according to the city governor. With priority for the distribution of ...

Khouth Sophak Chakrya
http://www.phnompenhpost.com/national/poipet-poor-%E2%80%98bearing-brunt-water-woes%E2%80%99

Residents near lakes put up fight

Member of Phnom Penh’s lake communities who stand to have their lives uprooted by development projects filed complaints yesterday. Representatives of 260 families who live near Boeung Tamok in Sen Sok district’s Ponhea Pon commune filed a petition with City Hall asking for intervention over 200 ...

Sen David
http://www.phnompenhpost.com/national/residents-near-lakes-put-fight

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