News
Pay Off Officials, Risk Prison Stint, New Law Says
The government has brought into force a new law that makes all illegal payments to officials punishable by up to 15 years in jail for those who accept such payments and up to 10 years for those who make payments. Im Oudom, a member of ...
Kith Meng re-elected
PROMINENT businessman Kith Meng was re-elected unopposed yesterday as president of the Cambodian Chamber of Commerce. Kith Meng, the only contender who declared his candidacy for the three-year mandate, received support from all 11 candidates eligible to stand. Kith Meng, who is also chairman and chief ...
http://www.phnompenhpost.com/index.php/2011080950932/Business/kith-meng-re-elected.html
President of Chamber of Commerce Is Re-Elected
The Cambodia Chamber of Commerce re-elected Royal Group chairman Kith Meng for his second three-year term as president yesterday. The presidents of 11 provincial chambers of commerce voted for Mr Meng, who is also president of the Phnom Penh Chamber of Commerce. ...
Bad Loans Grew in Some Banks in 2010
Nonperforming loans have increased in some banks though the number for the banking system over all has decreased 3 percent according to the National Bank of Cambodia. ANZ Royal Bank has seen a rise to 5.7 percent while Canadia Bank rose to 6.5 percent. Other ...
ANZ Royal sees yuan role
ANZ Royal Bank is seeking a larger part in handling transitions involving the Chinese yuan as the currency becomes more prevalent. Exports who bill their clients in yuan are being granted tax rebates of between 15 and 18 percent by the Chinese government. A service ...
http://www.phnompenhpost.com/index.php/2011072250563/Business/anz-royal-sees-yuan-role.html
Mortgage lending improving as real estate sector slowly returns to strength
Mortgages are increasingly being used by home buyers in Cambodia according to experts. Commercial banks had slowed direct loans to property development in the wake of the 2008 global financial crisis, though mortgage lending has increasingly filled the space, said National Valuers Association of Cambodia ...
Banking sector grows
The global economic recovery this year continues to benefit Cambodian banks, although insiders said yesterday macro-economic press-ures were still weighing on the industry. Some of Cambodia’s biggest banks had enjoyed a strong 2011 thanks to a rebound in lending, deposits and profits, officials said. Economists, ...
http://www.phnompenhpost.com/index.php/2011070550175/Business/banking-sector-grows.html
ANZ Climbs Back Into The Green, Report Says
ANZ Royal Bank posted an $8.1 million profit for 2010 according to the bank’s annual report. A profit of $24.3 million was reported by Acleda. Trade and national payments were shows to have generated substantial earnings for the bank according to the report. ...
