News

Cambodian, Phl conglomerate sign deal to establish new airline

Cambodia Airlines, a majority-owned Cambodian company, and San Miguel Corp., the Philippines’ most diversified conglomerate, on Tuesday signed a joint venture agreement to set up a Cambodia-based airline – Cambodia Airlines – to service domestic and regional flights. The agreement was inked between Cambodian tycoon Kith ...

http://www.philstar.com/business/2013/04/02/926341/cambodian-phl-conglomerate-sign-deal-establish-new-airline

Wages will increase following economic growth

Hun Sen said salaries for civil servants and garment workers will increase yearly coinciding with the growth in the economy. Speaking at a graduation ceremony for the Royal University of Phnom Penh (RUPP) at the Koh Pich center on Tuesday, he said during the general assembly ...

http://www.thecambodiaherald.com/cambodia/detail/1?page=15&token=Y2MzZjI4MzI3MzI

Malaysian firm plans 10-mw biomass plant

A Malaysian-base[d] energy service group has plans to spend roughly $10 million to build a biomass power plant in Cambodia. Wah Seong Corporation Berhad’s plant would have a production capacity of up to 10 megawatts, said the group’s chief executive, Chan Cheu Leong, in an article ...

http://www.phnompenhpost.com/2013040264825/Business/malaysian-firm-plans-10-mw-biomass-plant.html

Mfone value is revised

Althought the initial book value – purchase cost minus depreciation – of the assets of bankrupt Cambodian telecommunications firm Mfone was estimated at $105 million, employee representatives claim the estimated market value is closer to $30 million to $40 million. Bou Kunthea, an Mfone employee representative, ...

http://www.phnompenhpost.com/2013040264827/Business/mfone-value-is-revised.html

Hotels told to use own power

State-owned energy supplier Electricite du Cambodge (EDC) has sent letters to some of Phnom Penh’s four- and five-star hotels, asking that they switch to generators between 8am and 9pm this month — a move hotel-industry experts say would have a significant economic impact. In a letter ...

http://www.phnompenhpost.com/2013040264826/Business/hotels-told-to-use-own-power.html

FAO Raises Paddy Production Outlook

The Food and Agriculture Organization of the United Nations (FAO) has raised its forecast of global paddy production in 2012 by about 1.5 million tonnes to 730 million tonnes (487 million tonnes, milled). The scaling up of production mainly concerned Asian countries, in particular Cambodia, ...

http://www.cambizreview.com

When Is Credit Growth Too Fast and How To Deal With It?

Cambodia’s financial system appears to be shifting to excessive credit growth. The credit-to-GDP ratio has reached 37 percent, well above the low-income economies (LTCs). If credit growth were to continue at the current pace, by mid-2013 the ratio would exceed even the median for more ...

http://www.cambizreview.com

Local beer to be sold in France

Khmer Brewery, the maker of Cambodia Beer, plans to begin sales to France, the company’s third export market, this month, having tasted success in Japan and Malaysia. It is one of six breweries in the Kingdom, but the only one whose investor base is local. With ...

http://www.phnompenhpost.com/2013040164803/Business/local-beer-to-be-sold-in-france.html

Sihanoukville Runs Dry During Water Crisis

A water shortage in the tourist town of Sihanoukville has led authorities to advise scores of businesses to dig their own wells as only 50 percent of local demand is currently being met after high temperatures dried up the water supplier’s only reservoir. On March ...

http://www.cambodiadaily.com/news/sihanoukville-runs-dry-during-water-crisis-16609/

Kampot pepper in demand

Demand for Kampot pepper, the first Cambodian product to receive Geographical Indication (GI) status, is outpacing current supply even as areas of cultivation are expanding. Industry experts say the fast-growing demand is a result of the pepper’s newly earned GI label, which attests to its quality ...

http://www.phnompenhpost.com/2013040164802/Business/kampot-pepper-in-demand.html

Pursat Police Official Charged Over Illegal Fishing

The Pursat Provincial court on Friday charged Krakor district’s judicial police bureau chief for taking bribes in order to allow illegal fishing in the Tonle Sap Lake, officials said yesterday. [Hong Bunthoeun] stands accused of accepting bribes to allow illicit fishing in parts of the Tonle ...

http://www.cambodiadaily.com

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