Economy and commerce

The share price of the Phnom Penh Water Supply Authority (PPWSA) fell 50 riel yesterday to 6,250 riel, or about $1.52, bringing the authority’s share price lower than its initial public offering (IPO) in April. The decline matches views expressed by investors here that the authority’s ...

The Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC) is now pushing for the establishment of a special economic zone (SEZ) for small and medium sized enterprises and is currently discussing such a move with the Ministry of Industry, Mines and Energy, ...

The owner of Cambodia Yellow Pages has agreed in principle to sell a 51 percent stake to the subsidiary of Malaysian technology firm CBSA Bhd. in a deal worth $2.04 million, an official at the company said Monday. According to a disclosure last week from CBSA ...

Families living along a planned national train route in Poipet town were told they have 10 days to vacate their properties or be forcibly evicted, residents and NGOs said yesterday. Eang Vuthy, Development Watch Program Manager of Equitable Cambodia, said an eviction notice from the Poipet ...

China is the largest provider of financial assistance to Cambodia for agriculture and irrigation development in the last three years, Cambodia’s Minister of Finance Keat Chhon said on Tuesday. Since 2010 to date, he said, Cambodia has received a total loan of $561 million and a ...

Acleda Bank has filed an application to start banking operations in Burma with the central bank and is on track to open its first microfinance branch in the country by January, Acleda President In Channy said yesterday. Mr. Channy said the bank submitted its application for ...

Cambodia will sign a rice trade Memorandum of Understanding (MoU) with Indonesia in August under which Indonesia will purchase 100,000 tons of rice from Cambodia annually. The deal is expected to boost Cambodia’s rice exports and help the country achieve its target of exporting one ...

The Cambodian Broadcasting Service launched the Kingdom’s first 24-hour news channel, Cambodian News Channel, to great fanfare last night at its new studios. During the launch, Kith Meng, chairman of both Royal Group and the new channel, said this news channel would further the development of ...

One of Malaysia’s biggest investment banks, RHB Capital, announced it will acquire OSK Indochina Bank, via the transfer of 100 per cent of OSK Investment Bank shares from parent OSK Holdings, giving OSK Holdings a 10 per cent stake in the larger Malaysian RHB Capital ...

The number of businesses registered with the Ministry of Commerce climbed by more than 10 per cent year on year during the first half of 2012, ministry data showed. Officials credited the government’s piecemeal efforts to institute a transparent investment policy and gross domestic product growth, ...

When London-based real estate investor Sanjay Dhir heard about Cambodia from his Indian partner Manoj Varma, he took a trip here in October 2010 and stopped by the roadside to meet the operators of a portable rice mill. He knew then that Cambodia was ready for ...

A new hotel serving the Phnom Penh International Airport opened on July 1 at Ratana Plaza on the left off Russian Boulevard just before Hanoi Road on the way to the airport from central Phnom Penh. The Dara Airport Hotel has 155 rooms with a fifth-floor ...

Long-time foreign members of the Cambodian business community said the US-ASEAN Business Forum, held on Friday in Siem Reap, was largely successful in setting the country in the sights of America businesses, but multinational corporations will need more time in the Kingdom before nailing down ...

The producer of Mee Yeung instant noodles is set to expand its business by investing US$1 million in equipment to produce noodles for export, said a company official. The new machines will be delivered from China and will be able to produce 6,000 cases or ...

Siem Reap City – With a host of uncertainties still hanging over the U.S. economy, more than 100 American businesses—the largest delegation to ever visit Cambodia—gathered here over the weekend, and all of them were in agreement about one thing: The slowdown in the U.S. ...

Koh Thom district, Kandal province – On a quiet stretch of road in this sleepy border town, there are some telltale signs of an unusual trade: A trail of discarded dead rats, some upturned with their paws stiff in the air, others covered with a ...

The price of Phnom Penh Water Supply Authority (PPWSA) stock increased slightly to KHR 6,400 (US$1.57) on July 2 and remained at that level until July 5, while general trading volumes stayed between 10,000 to 12,000 shares except on July 2, when the volume dipped to just 2,200. The price increased ...

The “one community, one destiny” motto Cambodia adopted when it took over the rotating chairmanship of Asean this year could not have sounded more hollow as it did Friday when the 10-member bloc failed to produce a joint closing statement for the first time in ...

Adidas, the sportswear company, is facing an investigation over claims that Cambodian workers are being paid £10 a week in basic wages to make official merchandise for the London Olympics. It is one of the 2012 Games’ largest sponsors, believed to have invested £100 million, and ...

US companies will re-establish their commitment to Cambodia and the region today at the US-ASEAN Business Forum in Siem Reap, a high-profile meeting involving several heads of state and some of the biggest companies in the world. US Secretary of State Hillary Clinton will lead the ...

U.S. Secretary of State Hillary Clinton is in Cambodia where she met with Prime Minister Hun Sen to discuss U.S. investment and Cambodia’s outstanding debt. Cambodia wants the United States to forgive more than $400 million in debt accrued by the US-backed military government of Lon ...

Price levels picked up during the first half of 2012 but will likely cool down in the second half of the year due to changes in energy prices and major food related items. Therefore, the inflation rate has been upwardly adjusted by 30 basis points to 4.8 percent ...

If industry-watchers were roused last year by the influx of Japanese investment to Cambodia – including bellwether parts manufacturer Minebea – 2012 should not disappoint. Up to 60 new Japanese companies are expected to apply for business licences this year after the number tripled to about ...

Despite being downgraded by Moody’s just over two months ago, profits at Cambodian Public Bank (Campu) and Acleda Bank—two of the largest banks in the country—increased by about 50 percent during the first half of the year, according to figures provided by the banks yesterday. In ...