News
Prasac borrows $1.5m from German company
Assets of Cambodian Microfinance Institution Prasac reached US$210 million with the combination of newly borrowed $15 million from Germany’s Deg-Deutsche Investitions Und Entwicklungsellschaft Mbh (DEG), officials said during the signing ceremony. The seven-year agreement at an annual interest rate of 5.5 per cent would help Prasac ...
Incitement Charge for Chhun
Global brands Levi’s and Gap had continued slashing orders at the Tai Yang and Camwell factories in Kandal province, costing the company that owns them about US$6 million, its manager claimed yesterday. Tai Yang Enterprises manager Wu Minghuor said the brands had reduced their orders from ...
'Suspicious suspect' in Bavet shooting named
Police in Svay Rieng province said yesterday a Bavet town police officer had been under court-ordered supervision since last week on suspicion of being involved in the February shooting at a garment factory protest in the Special Economic Zone there. Provincial police chief Prach Rim said ...
Cambodia to boost China rice exports
Cambodia expects to export around 300,000 tonnes of milled rice to China per year, Minister of Commerce Cham Prasidh said during the 44th ASEAN Economic Ministers Meeting in Siem Reap. Speaking to reporters after a meeting with Chinese Minister of Commerce Chen Deming on Tuesday night, ...
Diplomats Continue Writing Letters of Complaint Over Asean
Nearly two months after the 45th Asean Foreign Ministers Meeting concluded with ministers failing to issue a joint communique for the first time in the block’s history, Cambodia remains on the defensive, this week disseminating yet another agressive letter to the editor of a regional newspaper. In a ...
Farmers Concerned That Draft Law Will Legalize Land Grabs
About 60 farmers met yesterday in Phnom Penh to rise their concerns about the law on the management of farmland that is currently being drafted by the Ministry of Agriculture, which critics say will legalize land grabbing. The latest public version of the draft law grants power ...
Companies lag on listing rules
Adding its name to a rapidly growing list of private companies, Tonlesap Airlines is gearing up for an initial public offering on the Cambodia Securities Exchange. And like many of these companies, the listing is still years off as Tonlesap prepares the tax and financial information ...
http://www.phnompenhpost.com/index.php/2012083058376/Business/companies-lag-on-listing-rules.html
Ministry plans Xayaburi trip
Cambodia has been asked to send a delegation to the site of the proposed Xayaburi hydro-electric dam in northern Laos, Minister of Water Resources and Meteorology Lim Kean Hor said yesterday. Kean Hor, who is also chairman of Cambodia’s National Mekong Committee, said the equivalent body ...
Police Officer Charged Over Bavet shooting
The Svay Rieng Provincial Court has charged a local police official with causing “unintentional injuries” during a shooting in February that left three garment factory workers injured in Bavet City, court officials said yesterday. Former Bavet City Governor Chhouk Bundith was charged with the same crime ...
Wealthy Splurge on 'Lucky' License Plates, Phone Numbers
Duong Tech, the owner of an import-export company, spent $150,000 on his chrome-rimmed Cadillac Escalade SUV. Then he shelled out an additional $10,000 at the Phnom Penh municipal transportation department for a license plate ending with the numbers “9999.” In Phnom Penh, custom-numbered license plates ...
Malaysia called out on MoU
Malaysia needs to start “paying attention” to a worker protection agreement with Cambodia that has languished for almost two years, a Ministry of Interior official said at a meeting yesterday. The meeting, which included officials from the ministries of Interior, Women’s Affairs, Tourism, Foreign Affairs and ...
http://www.phnompenhpost.com/index.php/2012082958343/National-news/malaysia-called-out-on-mou.html
Eviction Notices Served to 69 Russei Keo Families
Sixty-nine families in Phnom Penh’s Russei Keo district have been ordered by the government to move from a 4,000-meter-square plot of land claimed by a local businessman, according to district authorities. The disputed area is part of a 9-hectare plot of land in Svay Pak commune owned by ...
High Stakes Security Game
Cambodia’s casino owners need to up the ante on security, the owners of each of the Kingdom’s 61 operating gaming venues were told yesterday at a Phnom Penh meeting called by national police authorities. Lieutenant General Sok Phal, deputy national police commissioner, said that in recent ...
Angkor Golf Resort signs MoU with Tourism Malaysia
Malaysia tourism and travel agency officials have signed a memorandum of understanding at the Angkor Golf Resort in Siem Reap to boost golf tourism in Malaysia and Cambodia. Signatories to the MoU were Sao Ratha, marketing manager of Tourism Malaysia; Ng Eu Shen, general manager of ...
Beer Promoters 'banished' for striking
Angkor Beer promoters involved in last August’s strike over unpaid overtime have been banished to less popular restaurants and beer gardens in the past year, a report on the profession says. According to Promoting Decency? Report on the Situation of Beer Promotion Workers in Cambodia, released this ...
IP rights discussed for Angkor
The ancient works of Cambodia’s King Suryavarman II could become a protected intellectual trademark if the World Intellectual Property Organization (WIPO) finalizes a treaty recognizing cultural heritage, the organisation’s head said yesterday. Angkor Wat, a 12th century temple complex and the Kingdom’s No 1 tourist destination, became an area of contention ...
Integration a priority
When deciding what aspects of their economies to prioritise to grow their economies, ASEAN’s less developed countries, Cambodia, Laos, Myanmar and Vietnam (CLMV), should look to the organisation’s oldest members (the ASEAN-6) for guidance, according to a joint statement following the fourth CLMV Economics Ministers’ ...
http://www.phnompenhpost.com/index.php/2012082958333/Business/integration-a-priority-for-asean.html
Garment Demonstrators Request to Hold Protest
Workers from the Ocean Garment factory, who have been protesting outside the plant in Pur Senchey district for weeks, will file a request with Phnom Penh City Hall today to allow them to continue their demonstrations in front of the Ministry of Social Affairs and ...
Xayaburi dam project proceeds as protest grows
In Laos, the construction of controversial hydroelectric dam in Xayaburi province is under way, despite disagreement from its neighbors, Cambodia and Vietnam. The Xayaburi dam project started when the Laotian government and Thailand’s giant construction company, Ch Karnchang Pcl, signed a Memorandum of Understanding in ...
Four Charged in Infantry General's Drug Case
A high-ranking army official, his driver and two others were charged with drug trafficking yesterday following a series of arrests over the weekend and a raid that yielded nearly 5kg of methamphetamine. Questioning of the four by prosecutors at the Phnom Penh Municipal Court finished yesterday ...
Union Leader Called to Court for Inciting Garment Workers
The Kandal Provincial Court has summoned outspoken labor activist Rong Chhun to be questioned over accusations that he incited garment workers to strike illegally, a court official said yesterday. Deputy provincial prosecutor Tep Monin said that he called Mr. Chhun, president of the Cambodian Confederation of ...
Korean earned income to rise
Cambodians working in South Korea this year are expected to remit up to US$80 million to the Kingdom as up to 40 per cent more Cambodian labour heads to the East Asian nation compared to last year. The Ministry of Labour and Vocational Training expects at ...
http://www.phnompenhpost.com/index.php/2012082958336/Business/korean-earned-income-to-increase.html
Time to Get Tough on Casinos, Officials Warn
Interior security officials yesterday called on the casino operators to improve their security following a spate of casino-related crimes and said they would be creating tougher legislation for those who flouted the country’s gambling laws. More than 60 casino owners gathered at the National Police headquarters ...