News

The Phnom Penh Municipality opened a new port for boat operators along the riverside in Daun Penh district yesterday in an effort to regulate operations, keep the river clean, and ensure customer safety. The new port comes three years after City Hall banned boats from docking ...

About 1.8 million Cambodians traveled to the coastal and northeastern provinces to celebrate Khmer New Year, a 50 percent increase compared with last year, Tourism Minister Thong Khon said yesterday. Mr Khon said Cambodians are starting to seek out other vacation spots besides the coastal provinces ...

Shareholders of Acleda Bank yesterday approved a plan to open an initial three branches in Burma, where a year of surprise political and economic reforms are raising expectations of a flood of foreign investment ...

The Phnom Penh Water Supply Authority will launch its initial public offering (IPO) today on Cambodia’s bourse, and investors and securities officials said yesterday that they expected the company to make a strong start to trading The Water Supply Authority is issuing 13 million shares, which ...

ANZ Royal Bank chief executive Damian Bell has resigned from the post he held for not much more than a month, a company spokeswoman confirmed yesterday. He resigned “several weeks ago”, Libby Armstrong, a Hong Kong-based ANZ spokeswoman, said by phone. No explanation was offered for ...

The formerly state-owned Phnom Penh Water Supply Authority, the only stock on offer, has floated 13 million shares or 15 per cent of the company. ...

Investors, along with the next two companies expected to list on the Cambodia Securities Exchange, will watch carefully this morning the action on the country’s first initial public offering, nine months after the CSX officially opened. After a book-building process that was 17 times over-subscribed, Phnom Penh ...

Nine months after Cambodia’s stock exchange was officially launched, the country’s first share started trading Wednesday, with the initial public offering of state-owned Phnom Penh Water Supply Authority. PPWSA’s stock, priced at 6,300 riel (US$1.57), jumped 48% to 9,300 riel, according to the data from the ...

Cambodia tapped into the growing global interest in Southeast Asia with the start of trading in the sole stock at its gleaming new stock exchange on Wednesday. Ordinary Cambodians and local businesses scrambled to buy into the country’s first initial public offering—of shares in a local ...

After a string of false starts, Cambodia’s stock market finally started trading on Wednesday, marking a significant step forward for an impoverished country blighted by corruption and scarred by decades of civil war. But on Wednesday, traders were reaping fast gains as the price of ...

Trading on Cambodia’s stock exchange has begun for the first time after a state-run company completed its initial public offering. Some 13 million shares of the state-run Phnom Penh Water Supply Authority were offered at 6,300 riel ($1.57) per share. The stock exchange was officially launched in ...

In Sihanoukville, just north of Cambodia’s only deep-water port, stands the headquarters of Chenla Seafood. A uniformed guard stands watch at the gate, which opens on to manicured grounds and a two-building facility that houses what will likely become the country’s premier seafood processor. A few ...

A Thai ban on Cambodian corn and other agricultural products led to a 65 per cent year-on-year drop in the Kingdom’s corn exports during the first two months of the year, officials claimed yesterday. January and February exports fell to 2,333 tonnes from 6,694 a year ...

Opposition parliamentarian Mu Sochua has taken aim at Australian mining companies eyeing the Kingdom’s resources, travelling to their home soil to lobby the halls of power. Mu Sochua cited fears that Australian companies awarded exploration concessions in Ratanakkiri and Mondulkiri provinces will treat ethnic minorities there ...

A Malaysian couple were charged Friday with the murder of their Cambodian maid, who police suspect may have died of prolonged starvation. The alleged abuse case of Mey Sichan, who would have turned 24 in September, is one of many that have caused both Cambodia and ...

A Cambodian opposition leader, [Mu Sochua], has urged the federal government to stop Australian companies from accepting land concessions in Cambodia, saying they are contributing to a pressing humanitarian crisis displacing up to one million people. ...

Cambodia’s stock market, which is set to open next week after several delays, may be able to lure five-to-10 initial public offerings a year, according to Korea Exchange Inc., the Cambodian government’s partner in the bourse. State-owned Phnom Penh Water Supply Authority (PPWSA) will start trading ...

The leaders of seven major unions and labor confederations announced yesterday in a joint statement that they will form an inter-union committee to rally the government on raising the country’s minimum wage of $61, with the unions believe is too low. ...

While shopping for a brand-new television, 27-year-old Loek Bunhai recently bought a Sony flat-screen at the Sunsimexco retail outlet on Phnom Penh’s Monivong Boulevard for $345. But with a monthly salary of $300 from his job as a microfinance officer in Phnom Penh, Mr. Bunhai was ...

Cambodia’s largest bank, Acleda, is looking to get in early on Burma’s economic reawakening with plans to open three microfinance branches in the country as soon as January, the bank’s CEO said yesterday. In Channy said he discussed the plan on Monday with a visiting Burmese ...

Farm mechanization is steadily on the rise, with the number of tractors and power tillers in the country nearly doubling to more than 67,000 between 2008 and 2011, according to figures released by the Ministry of Agriculture this week. ...

Two strikes have broken out at large processing companies in the past week as employers respond to the government’s minimum wage policy with what workers say are cutbacks in conditions. Almost all the 800 Cambodian workers who staged industrial action at a seafood company in Songkhla ...

PHNOM PENH—In its home country, the Cambodian riel has long played second fiddle to the U.S. dollar—but a new stock exchange and government de-dollarization policies could bolster it in coming years, policy makers and experts say. Dollars change hands with greater frequency than riel in the ...

As many flock to their hometowns today to celebrate Khmer New Year, complaints of price hikes and border bribes have started pouring in like clockwork. Passengers arranging transport to the provinces told the Post yesterday that bus companies and taxies had raised their prices despite a ...