News

First financial leasing company for Cambodia

GL Finance (GLF), the first and only financial leasing company in Cambodia, opened its 11th branch in Phnom Penh on Friday, covering all authorized Honda and NCX  dealerships in Phnom Penh and its vicinity. GLF, in partnership with Honda NCX, helps customers buy their own motorbikes and provides ...

http://www.phnompenhpost.com/index.php/2012103059458/Business/first-financial-leasing-company-for-cambodia.html

The Credit Bureau Cambodia at the five-month mark

Almost five months after the launch of the Credit Bureau Cambodia (CBC), experts agree that it has given financial institutions valuable new access to information about creditworthiness of potential borrowers, improving efficiency and loan quality. At the same time, there are still a few rough ...

Newlyweds targeted with ‘wedding loans’

Phnom Penh Commercial Bank will offer “wedding loans” to newlyweds, a product based on a similar borrowing practice is South Korea. The majority-owned South Korean bank will set aside more than US$1 million for start-up families that don’t want their parents shelling out savings for new ...

http://www.phnompenhpost.com/index.php/2012071157335/Business/newlyweds-wedding-loans.html

Cambodian Foreign Minister Meets With Senator Jim Webb

Cambodian Foreign Minister Hor Namhong met with Senator Jim Webb, of Virginia, this week, to discuss how Cambodia might be forgiven war-era debt to the US or find a better way to pay it off. Cambodia owes nearly $450 million on pre-Khmer Rouge borrowing. ...

http://thesoutheastasiaweekly.com/

Cambodia takes $430m China loan

Cambodia yesterday signed deals for about US$430 million in loans from China, the latest in a number of high-profile borrowing deals with its northern neighbour. The bulk of the loans, from Export-Import Bank of China, would go towards two national road projects and a multipurpose dam ...

http://www.phnompenhpost.com/index.php/2012061456790/Business/cambodia-takes-430m-china-loan.html

Agriculture to see lending growth

Some commercial banks could increase loans to the agricultural sector this year, according to industry insiders who cited improvements in the sector and a rise in crop prices. Cambodian farmers lack the capital needed for inputs such as seeds and fertiliser, while domestic rice millers often ...

http://www.phnompenhpost.com/index.php/2012012654151/Business/agriculture-to-see-lending-growth.html

Senate ratifies record draft budget law

The Senate yesterday spent just 90 minutes ratifying the record $2.6 billion budget law for 2012, which will allow the government to borrow up to $1.1 billion from foreign lenders, according to a Senate statement ...

Chinese bank launches branch in Phnom Penh

The Industrial and Commercial Bank of China (ICBC) launched its first branch in Cambodia yesterday, bringing the total number of commercial banks in the country to 30. Speaking at the inauguration of the branch in Phnom Penh, Finance Minister Keat Chhon made an appeal to ICBC ...

Moody's says debt is stable, open to risk

Ratings agency Moody’s kept the outlook on Cambodia’s government debt at stable, though the firm said that the risk of default was still high and had raised concerns over the country’s ability to manage its finances. In a report released on Sunday, Moody’s said that Cambodia’s ...

PM weighs in on China debt debate

Prime Minister Hun Sen yesterday added his two cents to the ongoing debate on what Cambodia’s debt to China actually is, declaring it stands at only US$2 billion. At a ground-breaking ceremony marking the beginning of construction on Phnom Penh’s Cambodia-China Friendship Bridge, the premier rejected ...

http://www.phnompenhpost.com/index.php/2011110352522/National-news/pm-weighs-in-on-china-debt-debate.html

Fund raising: Kingdom may borrow more in 2012

Cambodia could borrow US$1.1 billion from other countries in 2012, 75 per cent more than this year, to help repair infrastructure damaged in flooding and support efforts to increase rice exports to one million tonnes by 2015, a senior official said yesterday. Cheam Yeap, chairman of ...

http://www.phnompenhpost.com/index.php/2011110152450/Business/fund-raising-kingdom-may-borrow-more-in-2012.html

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