Economy and commerce
Businesses upbeat but are ready to see reforms in action
A return to political stability means business confidence in the Cambodian economy remains buoyant, but ongoing government reforms are now needed to give companies greater assurance of future growth prospects, according to the latest business confidence survey from ANZ Royal Bank. The ANZ Royal Business Confidence ...
Daniel de Carteret and Hor Kimsay
http://www.phnompenhpost.com/business/businesses-upbeat-are-ready-see-reforms-action
Cambodia-Thailand trade hits 5 bln USD last year
Trade volume between Cambodia and its neighboring Thailand topped 5 billion U.S. dollars in 2014, an 11 percent increase from last year’s 4.5 billion U.S. dollars, a Cambodian commerce official said Thursday. ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=267098
Palm oil exports up, while profits dip
Exports of crude palm oil from the Mong Reththy company – the Kingdom’s sole producer of the product – increased 16 per cent last year, although prices were down about $200 per tonne from 2013. ...
Hor Kimsay
http://www.phnompenhpost.com/business/palm-oil-exports-while-profits-dip
Cambodia sees 7.2 pct growth in 2014: PM
Cambodia’s economy grew by 7.2 percent in 2014, driven by garment exports, agriculture, tourism and construction, Prime Minister Hun Sen said Wednesday. ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/cambodia-sees-72-pct-growth-in-2014:-pm-8152
Firms that list to see tax cut
New and existing companies listed on the Cambodia Securities Exchange (CSX) will have their taxes halved by the Cambodian government, a move that is being labelled as a generous attempt to boost activity on the bourse. The sub-decree, which was signed off by Prime Minister Hun ...
Eddie Morton and May Kunmakara
http://www.phnompenhpost.com/business/firms-list-see-tax-cut
Unlicensed lenders called out
Officials have released a public statement warning against a rise in unlicensed lenders they say are dangerously operating outside of Cambodian regulations and threatening financial stability. In a joint declaration from the Ministry of Economy and Finance and the National Bank of Cambodia on Monday, authorities ...
Hor Kimsay
http://www.phnompenhpost.com/business/unlicensed-lenders-called-out
MFI deposits double in 2014
The total amount of savings at Cambodia’s deposit-taking microfinance institutions (MFIs) reached $897 million by the end of 2014, more than doubling from its 2013 base of $445 million, according to figures from the Cambodian Microfinance Association (CMA). Prasac is the largest MFI with deposits ...
Hor Kimsay
http://www.phnompenhpost.com/business/mfi-deposits-double-2014
Aus firm buys Poipet casino
Australian-listed firm Donaco International, which currently has operations in Vietnam, has confirmed it is entering Cambodia’s already-crowded casino and gaming industry. The company announced on Friday that it had entered into an acquisition agreement to purchase the Star Vegas Resort and Club casino in Cambodia’s Poipet ...
Chan Muyhong
http://www.phnompenhpost.com/business/aus-firm-buys-poipet-casino
KPMG buys Premier Consulting
KPMG Cambodia has bought out one of its local competitors in an effort to position itself as a leader in accounting, taxation and advisory services before ASEAN integration later this year. A statement issued Friday by KPMG states that the firm acquired Premier Consulting (Cambodia) Limited, ...
May Kunmakara
http://www.phnompenhpost.com/business/kpmg-buys-premier-consulting
Subedi talks rights with CCC president Kith Meng
The United Nation’s human rights envoy Surya Subedi met yesterday with the president of Cambodia Chamber of Commerce, Kith Meng, to discuss human rights and economic growth in the Kingdom. At the top of the agenda was the management of economic land concessions and the role ...
Chan Muyhong
http://www.phnompenhpost.com/business/subedi-talks-rights-ccc-president-kith-meng
Cambodian team 2nd in regional stock challenge
Two Cambodian university students won $8,000 on Monday by placing second in a regional stock trading competition, after making it to the final round of the contest ahead of nearly 2,000 other teams from across Southeast Asia. ...
George Styllis
https://www.cambodiadaily.com/business/cambodian-team-2nd-in-regional-stock-challenge-76450/
TY Fashion to become third firm on bourse
Taiwanese-owned garment manufacturer TY Fashion (Cambodia) Plc is targeting a midyear listing on the bourse following approval on Friday from the Cambodia Securities Exchange (CSX), according to a press release from its underwriter, Phnom Penh Securities (PPS). ...
May Kunmakara
http://www.phnompenhpost.com/business/ty-fashion-become-third-firm-bourse
Four arrested in raid targeting fake coffee
Police have warned coffee lovers there could be a couple of bad batches circulating and percolating in Phnom Penh after a raid on a fake coffee enterprise in Sen Sok district’s Khmuonh commune yesterday. Officers arrested four men during the joint operation in Banlar Sa Et ...
Pech Sotheary
http://www.phnompenhpost.com/national/four-arrested-raid-targeting-fake-coffee
New CSX tools aim to lure traders
Trading on Cambodia’s fledgling stock market will become easier after the bourse announced two new tools aimed at improving usability and access to the exchange platform. A January 14 statement released by the Cambodian Securities Exchange (CSX) said two new trading methods, “continuous trading” and “trading ...
Eddie Morton
http://www.phnompenhpost.com/business/new-csx-tools-aim-lure-traders
Review of financial policies needed: World Bank
In the face of global economic fragility, the Cambodian government needs to review its fiscal policies and deepen its pockets – building a “buffer” for use in times of crisis, the World Bank has warned. The World Bank’s Global Economic Prospects 2015 report states that Cambodia ...
Eddie Morton
http://www.phnompenhpost.com/business/review-financial-policies-needed-world-bank
Port a step closer to 2015 IPO
Sihanoukville Autonomous Port (SAP) recorded above-average revenue growth in 2014, marking the third year of consecutive profit and paving the way for a 2015 initial public offering, officials say. ...
Hor Kimsay
http://www.phnompenhpost.com/business/port-step-closer-2015-ipo
Banks raise concerns for a new derivative trading law
The Association of Banks in Cambodia has called on the Securities and Exchange Commission to ensure that over-the-counter derivatives transacted by banks do not fall under the governance of the new draft prakas governing derivatives trading on Cambodia’s stock exchange. Speaking at a workshop in Phnom ...
Hor Kimsay
http://www.phnompenhpost.com/business/banks-raise-concerns-new-derivative-trading-law
Indian delegation to visit Vietnam, Cambodia to discuss issues pertaining to pharma trade
A high level Indian delegation from the department of commerce and trade, government of India, is expected to visit Vietnam and Cambodia this month to discuss various issues pertaining to pharma trade and improve business ties with the two South East Asian countries. Rajeev Kher, secretary, ...
A Raju Hyderabad
http://www.pharmabiz.com/NewsDetails.aspx?aid=86004&sid=1
Port eyes public listing amid profits recovery
Sihanoukville Autonomous Port (SAP) could be ready to list on the Cambodian Stock Exchange (CSX) by mid 2015, the head of the state-owned enterprise says. Lou Kimchhunn, director-general at the port said he is awaiting evaluations of the business’s 2014 performance from an independent accounting firm ...
May Kunmakara
http://www.phnompenhpost.com/business/port-eyes-public-listing-amid-profits-recovery
Cambodia-Thailand trade up 12 pct in 10 months
Trade volume between Cambodia and its neighboring Thailand amounted to 4.18 billion U.S. dollars in the first ten months of 2014, a 12 percent rise over the same period last year, the figures of the Thai Embassy here showed Friday. ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/2014-12/19/c_133866866.htm
Power-grid study to tackle supply problems
U.S. conglomerate General Electric (GE) on Thursday inked a $1 million deal with Cambodia’s state-owned Electricite du Cambodge (EdC) to conduct a six-month study to identify weaknesses in Cambodia’s electrical grid with the aim of enhancing the reliability of the power supply. According to the EdC, ...
George Styllis and Kang Sothear
https://www.cambodiadaily.com/business/power-grid-study-to-tackle-supply-problems-74517/
Prime minister admits 1 million tonne goal is unlikely for rice sector
Prime Minister Hun Sen yesterday admitted that the government target of reaching 1 million tonnes of rice exports by 2015 is likely to fail due to a lack of milling capacity and funding. The PM blamed the failure on a lack of investment in rice ...
Chan Muyhong
http://www.phnompenhpost.com/business/prime-minister-admits-1-million-tonne-goal-unlikely-rice-sector
GE signs deal with Cambodia to improve power grid
The U.S.-based conglomerate General Electric (GE) signed an agreement with Cambodia’s state- owned Electricite du Cambodge (EdC) on Thursday to help improve the country’s power grid. The contract was inked by GE energy consulting managing director Ravi Segal and EdC director-general Keo Rattanak. ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/2014-12/18/c_133863795.htm
Phnom Penh SEZ plans to list on Stock Exchange
The operator of Cambodia’s largest industrial park, the Phnom Penh SEZ, plans to list on the Cambodian Securities Exchange (CSX) next year in an attempt to raise $15 million to set up another economic zone in Poipet City, according to the company and media reports. ...
Kang Sothear and George Styllis
https://www.cambodiadaily.com/business/phnom-penh-sez-plans-to-list-on-stock-exchange-74433/