News
The strange adventure of the Cambodian currency
On the post office square, a beautiful Art Deco building now houses the restaurant Van, an insurance company and the offices of the AFD (French Development Agency). An inquiring mind will not fail to notice on the gates the presence of little medallions with the ...
Toll Yet to Issue Statement On Railway Project Status
Several days after a report that Australian transportation company Toll Holdings would abandon its stake in a joint venture to operate Cambodia’s railway system, the company remained silent Friday on its future plans here. “Let’s wait for the truth rather than make assumptions,” he added. ...
Governor Drew Gun, Not Blood, Prosecutor Says
The court prosecutor investigating last month’s shooting of three female factory workers at a special economic zone (SEZ) denied a newspaper report claiming the chief suspect, former Bavet City Governor Chhouk Bundith, had confessed to shooting the women. Svay Rieng Provincial Court prosecutor Hing Bunchea said ...
As Plans for Dam Gain Traction, Villagers Balk
For hundreds of years, the ancestors of Vam Sovann have lived in Koh Kong province’s remote Araeng valley. Some 70 km from the nearest national road, Mr. Sovann’s village has no electricity or phone coverage, no paved roads or running water; instead, it has access ...
Suspect Questioned Over Kandal Grenade Attack
A suspect was questioned on Thursday over a grenade attack on the home of a military police officer in Kandal province’s Mok Kampoul district, which appears to have been motivated by a dispute over 3 meters of land, police said. No one was injured when the ...
Burmese President to Visit Cambodia Next Week
Thein Sein, president of Burma, will visit Cambodia next Tuesday and Wednesday, according to a statement from the Ministry of Foreign Affairs. The visit will be Mr. Thein Sein’s first to Cambodia since taking power one year ago. ...
Coffee Prices Increase on Demand for Product
The price of coffee in Mondolkiri province, the country’s top coffee producing area, is continuing to increase as demand for the commodity continues to grow, according to local farmers and officials. Chay Moa, who owns a 5-hectare coffee farm in Sen Monorom City, said that he ...
Cambodia’s ISP market gets mega player
Internet service protocol company Mega will join the Cambodia’s gaggle of active providers today after launching an unconventional marketing campaign that sought to stir curiosity. Four billboards without a clear company name appeared around Phnom Penh in early January. “Something Mega is coming soon” the ad, ...
City on a hill sparks little talk
A casino complex on top of Kampot province’s Bokor Mountain will open in less than two weeks – but environmental groups are strangely quiet about the effects the development, the size of a small city, could have on Cambodia’s natural heritage. The complex, in the Preah ...
Securities and Exchange Commission will regulate the Stock Exchange
The laws and regulations that govern Cambodia’s securities market were derived from the Objectives and Principles of the International Organization for Securities Commissions (IOSCO) and the best practices in the region, according to Dr. Ming Bankosal, Director General of the SECC. the SECC which ...
Proposed Prey Long Protected Area Shrinks by 20 Percent
The Forestry Administration’s proposal to create a conservation zone for Prey Long, one of Cambodia’s largest remaining primary forests, has been scaled down by more than 20 percent and now covers about 480,000 hectares, an official said. During consultation workshops in Phnom Penh last month, the ...
Governor Free After Admitting To Firing Gun
Despite admitting yesterday to firing his pistol during last month’s protest at a Svay Rieng province special economic zone (SEZ), where three women were shot, Bavet City’s former governor Chhuk Bundith was free to return home after making his confession to the court. “[Mr. Bundith] came ...
CSX part of a larger capital market system
The Cambodia Securities Exchange (CSX) is an important component of a larger ecosystem of capital markets, according to Eugene Lam, CEO of OSK Indochina Securities Ltd, one of Cambodia’s securities underwriters approved by the Securities and Exchange Commission of Cambodia (SECC). Lam says one of ...
The arrival of the stock market and its implications
It began in November of 2006 with a memorandum of understanding (MOU) between the Ministry of Economy and Finance (MEF) and the Korean Exchange (KRX) titled “The Development of the Securities Market of Cambodia.” A further MOU between the parties in January, 2008 established the Cambodia ...
Six Tried for Importing Drug Precursors Using FedEx
The Phnom Penh Municipal Court yesterday tried a Vietnamese-Canadian national, four Cambodians and a Vietnamese national, the latter in absentia, for their roles in smuggling about 3 kg of drug precursor chemicals from India to Cambodia using the FedEx shipping service. ...
Toll Group Mum on Possible Rail Project Exit
Australian transportation solutions provider Toll Holdings remained silent yesterday on whether it would be pulling out of its 30-year contract to operate Cambodia’s railway system. In a report published on Tuesday, the Sydney Morning Herald cited “reliable sources in Cambodia” as saying that the company would ...
Severe Rains Slow Salt Farmers’ Harvest Goals
Salt farmers in Kampot and Kep may be unable to harvest the roughly 90,000 tons they sell annually due to excessive rains, and the country may have to turn to foreign markets, producers said yesterday. Ly Sreng, deputy chief of the Kep-Kampot Salt Producers Community, ...
Underwriter for first IPO bullish on Phnom Penh Water and the CSX
The head of the underwriting team that will launch Cambodia’s first IPO April 18 is Han Kyung Tae, Managing Director of Tongyang Securities (Cambodia) PLC and a South Korean stock market specialist. Tongyang Securities (Cambodia) Ltd. is the Cambodian subsidiary of Tongyang Group, a South ...
Cambodia’s inflation up over 5% in February
Prices in Cambodia rose 5.4 per cent year-on-year in February, as fuel costs continued to push inflation higher, according to data from the National Institute of Statistics released yesterday. Foodstuffs, however, saw declines following demand that was driven by Chinese New Year, though paddy prices were ...
Cambodia may find new rice market in Manila
Low international rice prices have further stymied Cambodia’s milled-rice exports, millers reported yesterday, but large orders – reportedly the first ever – from the Philippines have encouraged at least one of the Kingdom’s biggest rice exporters. Mega Green Imex Cambodia this year to date has received ...
Women’s Cancer Hospital to Open in Phnom Penh in 2015
The construction of a new $17.5 million women’s cancer hospital specializing in gynecological services will break ground this summer, one of the co-founders said yesterday. Janne Ritskes, the director of Tabitha Cambodia, an organization that works to improve the lives of poor Cambodians, said the 220-bed ...
Workers vow to keep striking
More than 400 workers at the Hwa Sin Print factory, in the capital’s Choam Chao commune, had resumed their strike yesterday after management failed to meet their demands, a union official said. Khat Lot, vice-director of the Collective Union of Movement of Workers, said workers had ...
http://www.phnompenhpost.com/index.php/2012031655060/National-news/workers-vow-to-keep-striking.html
Laborers Forced to Work Women’s Day, Union Says
The Free Trade Union (FTU) yesterday filed a complaint with Labor Minister Vong Sauth on behalf of nearly 4,000 garment workers in Kompong Chhnang province against Chinese-owned M&V International Manufacturing Ltd, alleging that they had been forced to work on International Women’s Day, which is ...
Khy Sovuthy, P.19
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Villager defies loggers, claims life is in danger
A man fled his home in Kratie province’s Snuol district after three men threatened to kill him for confiscating their chainsaws during a patrol against illegal logging, he told the Post yesterday. Village representative Chea Horn said he was scared to return home after the men ...