News

Follow-up IPOs still on track

Sihanoukville Autonomous Port, one of two state-owned companies slated to list on the Cambodia Securities Exchange this year, yesterday called the price decline in the country’s first publicly traded company worrisome. The eight-day slide in price that neared Phnom Penh Water Supply Authority’s initial public offering ...

http://www.phnompenhpost.com/index.php/2012050956046/Business/follow-up-ipos-still-on-track.html

Northeast new focus for tourism

The Ministry of Tourism will shift its focus to ecotourism development in the Kingdom’s northeast after efforts to promote travel to Cambodia’s coastline proved successful. ...

http://www.phnompenhpost.com/index.php/2012050956045/Business/northeast-new-focus-for-tourism.html

Four Political Parties Agree to Disclose Campaign Finances

Representatives from four political parties yesterday signed a campaign finance voluntary disclosure pact, promising transparency in how their election funds are spent and identifying the sources of their funding. The disclosure agreement was reached by the SRP, Human Rights Party (HRP), Funcinpec and Movement for Democracy in the absence of ...

Borei Keila evictees look to UN’s Subedi

Borei Keila evictees who have spent months sleeping under staircases and near rubbish dumps delivered a petition to UN Special Rapporteur Suya Subedi yesterday as their quest to be housed again at Borei Keila continued. ...

http://www.phnompenhpost.com/index.php/2012050956050/National-news/borei-keila-evictees-look-to-uns-subedi.html

Cambodian education investor explains his turn to real estate

Chea Sokheng, general director of Arizon Group Ltd, a potential investor in Cambodia’s education and real estate sectors, said that investment in education is a main contributor to developing human resources and growth of the national economy. Though he mentioned the opportunity to invest in the ...

http://www.phnompenhpost.com/index.php/2012050956044/Business/cambodian-education-investor-explains-his-turn-to-real-estate.html

Poipet project: Gaming firm starts build on slot hall

Entertainment Gaming Asia Inc, which today will launch its Dreamworld Casino in Pailin, also will break ground on a slot hall project in Poipet, near the Thai border, on Thursday, according to a company statement.   ...

http://www.phnompenhpost.com/index.php/2012050956043/Business/poipet-project-gaming-firm-starts-build-on-slot-hall.html

Government silent on ELCs

Ministry officials were silent yesterday on how exactly they planned to implement Prime Minister Hun Sen’s suspension of any new economic land concession grants and review of existing ELCs. Provincial authorities involved in granting the now-suspended land concessions yesterday said they were ready to implement ...

http://www.phnompenhpost.com/index.php/2012050956051/National-news/government-silent-on-elcs.html

Factory name change fires up workers

More than 5,000 workers went on strike in Kandal province’s Ang Snuol district yesterday after discovering the owners had changed the name of their factory almost two years ago, a union representative said. Concerned that the name change from Tai Yeng to Tai Nan in 2010 ...

http://www.phnompenhpost.com/index.php/2012050956052/National-news/fears-for-benefits-factory-name-change-fires-up-workers.html

Government Announces Anti-Graft Price Lists

Eight months after the anti-graft provisions of the Anti-Corruption Law came into effect, the Anti-Corruption Unit (ACU) announced yesterday that it would start a widespread campaign to introduce standardized fees for government services in every commune office—though it will likely be months before any visible steps are taken. More than 2,000 ...

Leader lost, but activists fight on

An estimated 600 people will travel to parts of the Cardamom Mountains in Koh Kong province to investigate illegal logging and commemorate the death of slain environment activist Chut Wutty tomorrow. Communities from eight provinces that have been affected by deforestation will travel to Koh Kong ...

http://www.phnompenhpost.com/index.php/2012050956057/National-news/leader-lost-but-activists-fight-on.html

Thai jobs serve as siren song

Every day they come in the thousands and crowd under a blazing sun for hours, awaiting a moment that costs them more than two full months’ salary – a passport. And where are they going? “Thailand,” 21-year-old Sem Pheaktra said, squinting under a harsh mid-morning sun. He, and ...

http://www.phnompenhpost.com/index.php/2012050956059/National-news/many-cant-resist-thai-siren-song.html

Memorial to Be Held in Koh Kong for Slain Forestry Activist

An estimated 600 people who say their livelihoods have been affected by illegal logging and deforestation across the country are scheduled to gather in Koh Kong province on Friday at the site where environmental activist Chut Wutty was shot dead on April 26. The group will ...

Families call for help to find maids

The families of two maids working in Malaysia asked Preah Vihear’s anti-human trafficking office and the human rights group Adhoc yesterday to intervene on behalf of their daughters, whom they haven’t seen or heard from since last year, officials said. ...

http://www.phnompenhpost.com/index.php/2012050956056/National-news/missing-overseas-families-call-for-help-to-find-maids.html

Maids seek justice in Malaysia

Chased out of the house by her Malaysian employer, fresh-faced Tieng SaSa, 18, found shelter with an NGO, escaping alleged abuse at the hands of her employer that included binding her hands and beating her feet with a metal club until her bones broke. Three months ...

http://www.phnompenhpost.com/index.php/2012050956053/National-news/maids-seek-justice-in-malaysia.html

Court calls Bandith to ‘clarify’ Bavet shooting

There’s still no arrest warrant, but Svay Rieng provincial court has issued a summons to former Bavet town governor Chhouk Bandith, asking him to come to court on May 27 to clarify the circumstances surrounding charges related to the shooting of three protesters, an official ...

http://www.phnompenhpost.com/index.php/2012050956055/National-news/court-calls-bandith-to-clarify-bavet-shooting.html

Maid Held By Malaysian Employers, Mother Says

The Cambodian Legal Education Center (CLEC), a rights group, is investigating a mother’s claim that her daughter is being abused and held against her will by her employers in Malaysia, Moeun Tola, head of CLEC’s labor program, said yesterday. ...

PM institutes land concessions moratorium

Prime Minister Hun Sen has issued an immediate and indefinite moratorium on the granting of new economic land concessions and called for a review of all existing concessions, a regulation signed by the premier yesterday states. Dated to an April 27 Council of Ministers’ meeting, the ...

http://www.phnompenhpost.com/index.php/2012050856036/National-news/conceding-a-problem.html

Country’s First Life Insurance Firm Enters Market

The first company to offer Cambodians life insurance will launch on May 21, an official at the company said yesterday, though experts said the firm could struggle to make good profits in a market where fraudulent claims and limited customers could become a stumbling block. Cambodia ...

MFIs defy typically slow first quarter

Total loans and deposits at the Kingdom’s microfinance institutions jumped in the first quarter of 2012 despite what is typically a slow season for the industry, insiders said yesterday. Loans outstanding reached US$708 million for the period ending on March 31, climbing 9.8 per cent from ...

http://www.phnompenhpost.com/index.php/2012050856024/Business/mfis-defy-typically-slow-first-quarter.html

Agricultural NGO to Become a Cooperative

The Cambodian Center for Study and Development in Agriculture (Cedac) said yesterday that it was undertaking measures to change its status from an NGO to a cooperative, a move that will ease the organization of donor money and push it to become more profit orientated ...

Hun Sen Puts Freeze on Land Concessions

Prime Minister Hun Sen yesterday issued a moratorium on economic land concessions, temporarily halting a long-standing policy of granting land to private companies and those with powerful political connections that has sparked growing concerns from national and international human rights groups. The prime minister’s announcement comes ...

Maersk sees a slowing EU

The Cambodia representative for the world’s largest shipping company said exports from Cambodia to Europe grew by more than 60 per cent during 2011, but have since weakened. “Rice exports grew a lot during 2011 and a lot of it went to Poland and France,” ...

Stuart Alan Becker, P. 9
http://www.phnompenhpost.com/index.php/2012050856019/Business/maersk-sees-a-slowing-eu.html

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