Economy and commerce
Failing to sew up support
Cambodian stockbrokers yesterday admitted to a disappointing level of investor interest in Grand Twins International’s (GTI) initial public offering. Garment industry unrest, distrust in the private sector and a lack of liquidity in the market were all said to be discouraging investors from buying into the ...
Eddie Morton
http://www.phnompenhpost.com/business/failing-sew-support
Lack of funds delays railway
The China Railway Group’s planned $7.5 billion Cambodian north-south railway line has been delayed due to funding shortages, according to the company’s top official. Originally slated to begin construction last year, China Railway’s chairman, Li Changjin, told the South China Morning Post that work on the 400-kilometre railway ...
Daniel de Carteret
http://www.phnompenhpost.com/business/lack-funds-delays-railway
Industry urged to go green
Small and medium-size enterprises (SME) have been urged by the Cambodian government to employ more environmentally friendly practices at a green industry workshop in Phnom Penh yesterday. Cham Prasidh, minister for the Ministry of Industry and Handicrafts, said SMEs and handicraft producers’ reliance on fossil fuels ...
Chan Muyhong
http://www.phnompenhpost.com/business/industry-urged-go-green
Stay-at-home strike a bust as workers return to factories
The vast majority of the country’s 600,000-strong garment factory workforce appeared to be back on the job Monday despite a call from unions to continue a stay-at-home strike until Tuesday. Eight unions had spent weeks urging workers to stay home after the Khmer New Year from ...
Khy Sovuthy
http://www.cambodiadaily.com/news/stay-at-home-strike-a-bust-as-workers-return-to-factories-56888/
Unrest among disabled security guards at SL Garment Factory
A team of disabled security guards hired to protect the embattled SL Garment Factory in Phnom Penh is seeking the formalization of their employment and an end to what they claim is the factory’s exploitation of their impairments. In November—at the height of an occasionally violent, ...
Sek Odom and Matt Blomberg
http://www.cambodiadaily.com/news/unrest-among-disabled-security-guards-at-sl-garment-factory-56892/
DefTech targets Cambodia, Myanmar jobs
Malaysia’s leading armoured vehicle maker DRB-Hicom Defence Technologies Sdn Bhd (DefTech) is setting its sights on Cambodia and Myanmar, said chief executive officer Amril Samsudin. ...
The Star News Staff
http://www.thestar.com.my/Business/Business-News/2014/04/21/DefTech-targets-Cambodia-Myanmar-jobs/
Vietnam's HAGL to harvest corn in Cambodia, Laos this year
Vietnam’s HAGL JSC is expanding its overseas plantations and plans to harvest corn in Cambodia and Laos this year, Bloomberg News reported Monday. ...
Everyday News Staff
http://www.everyday.com.kh/en/article/21710.html
Phnom Penh Water to hold annual meeting this week
Phnom Penh Water Supply Authority is scheduled to hold this week its annual general meeting of shareholders, the second since its shares were listed two years ago. The meeting is due to take place at the authority’s headquarters in Daun Penh district on Thursday morning. ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=Yzc0YmFjMjc1MmI
Canada couple bring Chinese, Indians into Cambodia gold company
Mike Weeks and Delayne Weeks of Canada had a dream five years ago: create a gold mine. Do it in a nation that has never produced gold commercially. Use the process to educate and enrich an impoverished population. The country is Cambodia. The mine is in northeast ...
Thom Calandra
http://www.equities.com/editors-desk/futures-commodities/canada-couple-bring-chinese-indians-into-cambodia-gold-company
Arrests after vendors rally in Sisophon
Three people were arrested in Banteay Meanchey province on Friday during a protest in which more than 400 vendors rallied against orders to move to new market sites. In what authorities said was an effort to “restore public order”, police and military forces were deployed to ...
Sen David
http://www.phnompenhpost.com/national/arrests-after-vendors-rally-sisophon
Iffy factory supplying LA’s finest
A Phnom Penh-based factory supplying uniforms for police officers and firefighters in the US city of Los Angeles continues to break Cambodian labour laws, a report to be publicly released today says. Kin Tai Garment factory, a supplier to 5.11 Tactical – which sells the uniforms ...
Sean Teehan
http://www.phnompenhpost.com/national/iffy-factory-supplying-la%E2%80%99s-finest
Sorya bus drivers fired after wage strikes
At least eight bus drivers from Phnom Penh Sorya Transportation company were fired last week for leading a strike before Khmer New Year to demand higher wages, employees and union representatives said Sunday. About 80 drivers went on strike on April 3 demanding a $60 increase ...
Ben Sokhean
http://www.cambodiadaily.com/news/sorya-bus-drivers-fired-after-wage-strikes-56764/
NagaCorp VIP program questioned
Citi Research, the strategy and analysis arm of Citigroup Inc, one of the world’s largest financial firms, has questioned NagaCorp’s VIP junket program in a recent report that also cites cross-border competition and tourism failings as potential threats to the program’s success. Citi Research’s analysis was ...
Eddie Morton
http://www.phnompenhpost.com/business/nagacorp-vip-program-questioned
2,500 workers in Bavet SEZ go on strike
More than 2,000 workers at three factories in Svay Rieng’s Bavet City went on strike Saturday, claiming their bosses owed them money. About 500 workers at the You Li factory, which makes baby clothes, went on strike Saturday because management refused to pay them for Thursday ...
Mech Dara
http://www.cambodiadaily.com/news/2500-workers-in-bavet-sez-go-on-strike-56762/
Cambodia's only listed firm reports 12.5 pct surge in profit last year
Phnom Penh Water Supply Authority (PPWSA), Cambodia’s only listed company, made a net profit of 9.68 million US dollars in 2013, up 12.5 percent compared with 8.6 million US dollars in a year earlier, the firm ‘s audited financial statement showed Saturday. The statement said the ...
Global Times News Staff
http://www.globaltimes.cn/content/855552.shtml#.U1SHrPmSxqV
Nationwide garment factory strike sputters into second day
A few garment factories resumed operations in Phnom Penh on Friday, albeit at reduced capacity, as thousands of workers returned to the city after Khmer New Year celebrations in the provinces. While the majority of factories in Meanchey and Pur Senchey districts stayed closed, it remained ...
Sek Odom and Matt Blomberg
http://www.cambodiadaily.com/news/nationwide-garment-factory-strike-sputters-into-second-day-56740/
Cambodia's second stock listing delayed
A Taiwanese-owned garment maker has delayed its planned Cambodia listing by three weeks, setting back what would be just the second initial public offering to be held in this developing Southeast Asian nation. Grand Twins International (Cambodia) PLC now plans to list on May 29, according ...
Chun Han Wong
http://online.wsj.com/news/articles/SB10001424052702304626304579509390823129458
Little appetite for garment strike in Phnom Penh
Most garment factories did not open for business Thursday, choosing to extend the Khmer New Year holidays—which officially ended Wednesday—rather than face industrial action in the form of a planned nationwide stay-at-home strike. However, a number of workers interviewed Thursday said they knew nothing about the ...
Zsombor Peter and Mech Dara
http://www.cambodiadaily.com/news/little-appetite-for-garment-strike-in-phnom-penh-56695/
S Reap fish paste production halts over weak demand
Villagers in Kampong Khlaing commune in Siem Reap province’s Sotr Nikum district have halted Kamlearnh fish paste production due to lagging demand, according to the industry’s representative body. Proum Hong, president of Kampong Khlaing Fish Paste Producers Association (KKFPPA), said the inflated price of the product, ...
Chan Muyhong
http://www.phnompenhpost.com/business/s-reap-fish-paste-production-halts-over-weak-demand
Rice customs fees dropped
The Ministry of Economy and Finance (MoEF) will scrap customs fees for rice exporters from May 1 in an effort to reduce production costs and boost Cambodia’s competitiveness in the sector, according to a letter obtained by the Post. “[The ministry] has agreed to eliminate charges ...
Hor Kimsay
http://www.phnompenhpost.com/business/rice-customs-fees-dropped
Mu Sochua to restart Freedom Park campaign
Mu Sochua, a lawmaker-elect for the opposition CNRP, announced Thursday that she will on Sunday morning resume her campaign to enter Phnom Penh’s Freedom Park. Last month, Ms. Sochua appeared at the park alone for four straight days—each day being physically barred by authorities—in an effort ...
Alex Willemyns
http://www.cambodiadaily.com/news/mu-sochua-to-restart-freedom-park-campaign-56712/
Cambodian, Chinese businessmen meet to explore cooperation opportunities
The Sichuan-Cambodia Business Matching Session 2014 was held here Thursday with an aim to further promote economic and trade relations between Cambodia and China. The half-day forum brought together business executives from 51 enterprises in Southwest China’s Sichuan Province and some 120 Cambodian business people. ...
Global Times News Staff
http://www.globaltimes.cn/content/855183.shtml#.U1CChPmSxqU
Cambodian largest port sees rise in cargo shipment in first quarter
The Sihanoukville Autonomous Port, Cambodia’s largest shipping facility, reported a 13 percent rise in cargo shipments in the first three months of this year, a port’s data showed Thursday. Some 862,380 tons of goods had been transported through the port during the January-March period this year, ...
Global Times News Staff
http://www.globaltimes.cn/content/855162.shtml#.U1CEvPmSxqU
Predictions mixed for post-new year garment strike
Along Phnom Penh’s industry-heavy Veng Sreng Street on Wednesday, garment factories lay idle in observance of Khmer New Year. The dorms around them were empty, save for the few workers who could not afford the bus ticket home for the holiday, which ended Wednesday. Eight unions ...
Mech Dara
http://www.cambodiadaily.com/news/predictions-mixed-for-post-new-year-garment-strike-56624/