Economy and commerce

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. ...

A Ford assembly plant in Preah Sihanouk province will supply Cambodia’s limited but growing car market, the American carmaker’s local representative RMA Cambodia announced yesterday. The US$3 million investment, wholly owned by RMA, has a capacity of up to 6,000 vehicles per year, and is expected ...

The Credit Bureau of Cambodia officially commenced operations at its Phnom Penh headquarters on Monday, according to CBC spokesman Steve Vaile ...

Chinese President Hu Jintao will pay an official state visit to Cambodia between March 30 and April 2, a trip that will coincide with the Asean-European Union Business Summit and will finish just one day before the annual Asean summit commences in Phnom Penh, an ...

The government last month granted four companies a total 23,000 hectares of land concessions for agro-industry projects and a special economic zone (SEZ), according to human rights groups, which said it obtained the information from government documents. An additional 500 hectares inside a wildlife sanctuary were ...

The long-awaited Cambodian Credit Bureau (CBC) launched yesterday, a move that is expected to increase the amount of information banks retain on the history of borrowers in the banking system. Despite loan disbursals in the banking sector growing by 25 percent last year, banks have so ...

A senior government official has said construction on the US$1 billion airport project in Siem Reap was still on track despite the recent arrest of a key person in charge of the project. Plans and designs for the New Siem Reap International Airport had been submitted ...

Two weeks before the opening of the 20th Asean Summit in Phnom Penh, preparations are under way to increase security and clean up Cambodia’s capital ahead of the arrival of hordes of foreign dignitaries on April 3. According to Phnom Penh deputy military police chief Pong ...

PHNOM PENH: The 8th Cambodia-Asia Economic Forum kicked off here on Saturday, focusing on reviewing the ASEAN achievements in the past 45 years and looking at opportunities and challenges toward the realisation of an ASEAN community by 2015. The two-day forum has been attending by some ...

Cambodia’s first association for expanding business opportunities and financing for women was launched on Saturday. The Cambodia Women Entrepreneurs Association would seek to enhance the competitiveness of businesswomen in the growing ASEAN market, which was set to integrate by 2015, Seng Takakneary, president of the new ...