News

A few hurdles still block path to joining global value chains

The government needs to urgently amend its industrial development policy to spur the inclusive growth of small- and medium-size enterprises (SMEs) and develop a national logistics platform to cut onerous shipping costs if Cambodia is to find a place in global value chains, panellists at ...

Kali Kotoski
http://www.phnompenhpost.com/business/few-hurdles-still-block-path-joining-global-value-chains

ANZ to remain in local market?

The chief executive of ANZ Royal Bank has denied media reports that the Australian and New Zealand Bank Group (ANZ) is considering pulling the plug on its Cambodian operations amid a planned retreat from the region’s markets. ...

Kali Kotoski
http://www.phnompenhpost.com/business/anz-remain-local-market

Listed firms lax on fiscal reports

Six weeks since the close of the fiscal first half, none of the four listed companies on Cambodia’s stock exchange have issued their required half-year financial statements, and one firm has not disclosed any financial data since 2014 – casting doubts on the tiny bourse’s ...

Kali Kotoski
http://www.phnompenhpost.com/business/listed-firms-lax-fiscal-reports

Complaint against sugar company withdrawn

More than 150 residents from Kampong Speu’s Oral district gathered at the Equitable Cambodia (EC) headquarters and the National Assembly on Friday to withdraw their complaints over land against the Phnom Penh Sugar Company, which is owned by magnate Ly Yong Phat. ...

Ven Rathavong
http://www.khmertimeskh.com/news/25516/complaint-against-sugar-company-withdrawn/

Banks to shift from growth to efficiency

Since its launch in 2005, ANZ Royal Bank has grown to become one of the top-end banks in Cambodia, and has increased its focus on core areas of e-banking, corporate clients and introducing efficiencies in its operations. ...

Ananth Baliga
http://www.phnompenhpost.com/business/banks-shift-growth-efficiency

Central bank moves to spark Interbank lending

The National Bank of Cambodia has decreased the minimum value of negotiable certificates of deposit (NCDs) in a bid to promote interbank lending in the Kingdom’s crowded financial industry. ...

May Kunmakara
http://www.khmertimeskh.com/news/17371/central-bank-moves-to-spark-interbank-lending/

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

Evictees lobby bank for payment

More than 200 villagers from Kampong Speu protested in front of ANZ Royal Bank’s headquarters in Phnom Penh yesterday, demanding the bank pay them compensation. ...

Pech Sotheary
http://www.phnompenhpost.com/national/evictees-lobby-bank-payment

Cambodia bond a possibility

The launch of an unrated Laotian government bond on Thailand’s bond market could pave the way for Cambodia to issue its own government bond denominated in Thai baht. The Bangkok Post reported yesterday that Thailand’s Finance Ministry and Public Debt Management Office had allowed Cambodia, Vietnam ...

Hor Kimsay
http://phnompenhpost.com/business/cambodia-bond-possibility

ANZ says no to evicted Cambodian farmers

ANZ has ruled out helping hundreds of poor Cambodian families forcibly evicted from their land to make way for sugar-cane plantations that involved child labour and led to food shortages. Fairfax Media this year revealed confidential audits that disclosed that ANZ’s Cambodian subsidiary, ANZ Royal Bank, ...

Richard Baker and Nick McKenzie
http://www.brisbanetimes.com.au/national/anz-says-no-to-evicted-cambodian-farmers-20140819-105sib.html

ANZ refuses to help evictees of senator’s sugarcane farm

About 100 villagers who lost land to a sugarcane plantation, which was until recently financed by ANZ Royal Bank, traveled to Phnom Penh to protest in front of the bank’s headquarters Thursday, but failed to convince the bank to help them. Several hundred families in Kompong ...

Aun Pheap and Zsombor Peter
http://www.cambodiadaily.com/news/anz-refuses-to-help-evictees-of-senators-sugarcane-farm-66579/

Farmers threaten ANZ with protest, demand help

Farmers from Kompong Speu province handed ANZ Royal Bank a petition on Friday insisting it still had a responsibility to help mend the damage done by a sugar plantation in has helped finance, even though the bank and plantation recently parted ways. They threatened to start ...

Aun Pheap and Zsombor Peter
http://www.cambodiadaily.com/news/farmers-threaten-anz-with-protest-demand-help-65597/

ANZ, MFI partner to bridge financial sectors

ANZ Royal Bank and local microfinance institution Hattha Kaksekar Limited (HKL) on Monday entered into the first partnership of its kind in Cambodia in a bid to bring together clients from either side of the financial spectrum. Following the signing of a Memorandum of Understanding at ...

George Styllis
http://www.cambodiadaily.com/business/anz-mfi-partner-to-bridge-financial-sectors-60902/

For Royal Group, sale not desired

Executives from Australia and New Zealand Banking Group Limited (ANZ) and local partner Royal Group of Companies (RGC) both went into damage control yesterday after comments by ANZ chief executive officer Mike Smith suggesting the joint banking venture between the two was on the rocks. Royal ...

Daniel de Carteret
http://www.phnompenhpost.com/business/royal-group-sale-not-desired

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