News

Construction Set to Resume at CamKo City

24 October 2013
Airports and air travel / Cities / Economy and commerce / Infrastructure / Investment / Labor / Phnom Penh / Special economic zones / Transport and shipping / Transport infrastructure and facilities / Urban administration and development
Busan Savings Bank / CamKo City / Council of Ministers / Ministry of Land Management / Ministry of Land Management / Siem Reap airport / Tekreth Samrach / World City

Construction on Phnom Penh’s CamKo City project will resume after a year’s suspension following a fraud scandal that left its original financial backer bankrupt, an official at the Ministry of Land Management said Wednesday. ... CamKo City, located in Phnom Penh’s Russei Keo district, was halted ...

 Hul Reaksmey
http://www.cambodiadaily.com/business/construction-set-to-resume-at-camko-city-45747/

Ambition Trumps Reality in Investment Figures

6 February 2013
The Cambodia Daily
Agricultural production / Agriculture and fishing / Economic land concessions and plantations / Economy and commerce / Investment / Land / Public land lease
abandoned projects / AEON Mall / agro-industrial plantations / Airport / annual investment figures / ANZ Royal Bank / Asia Resort Development Ltd / Asian Development Bank (ADB) / Bangkok / Boeng Kak Lake / Bokor Mountain project / Busan Savings Bank / Cambodian economy / Cambodian Investment Board (CIB) / Cambodian firm / casinos / Caymen Islands entity / Chinese aid / Chinese firm / Chroy Changva / construction / developments / Evergreen Success / forced evictions / Garment factories / Golf Courses / Hassan (Cambodia) Development / Heng Development / Hopewell Project / horse racing center / Horse Racing Co. Ltd / horse racing venue / Hotels / hydropower dams / investments / international firms / internet / Investment Projects / island / Israeli company / Japanese aid / Japanese investment / Kampot Province / Kep province / Kirirom National Park / Koh Rong island / Koh Tonsay / Kompong Speu Province / Korean court / Labor Ministry / luxury hotels / mega-projects / New Siem Reap International Airport / Nitrogen Chemicals and Fertilizer (Cambodia) / NSRIA / Peter Brimble / Phnom Penh / polo fields / Preah Sihanouk Province / Queenco Tourism International / Rabbit Island / Rail / real estate project / Ream National Park / resort development / Royal Group / Seoyoung Park / Shukaku Erdos Hongjun Property Development / sihanoukville / Sihanoukville Special Economic Zone / Sok Kong / Sokimex Corporation / South Korean project / Thailand / tourism investment

Since 2008, a whopping $28 billion worth of investments has been pledged by local and international firms looking to set up luxury hotels, a new airport and even Cambodia’s first horse racing venue. But a closer look at the list of investments approved by the Cambodian ...

http://www.cambodiadaily.com/business/ambition-trumps-reality-in-investment-figures-9387/

New Siem Reap airport’s progress slow but on track

3 January 2013
The Phnom Penh Post
Airports and air travel / Economy and commerce / Infrastructure / Investment / Siem Reap / Transport and shipping / Transport infrastructure and facilities
Busan Savings Bank / Camco Airport Co / Investment / Korean companies / Lees A&A / loans / Passengers / Siem Reap International Airport (NSRIA)

A senior government official said a new Siem Reap International Airport (NSRIA) being developed with $1 billion of investment by two Korean companies is still on track. NSRIA is wholly owned by two Korean companies, Camco Airport Co and Lees A&A, which held 50 per cent each ...

http://www.phnompenhpost.com/2013010360604/Business/airport-s-progress-slow-but-on-track.html

Bank Collapse Sees Property Up for Grabs

25 September 2012
The Cambodia Daily
Economy and commerce / Industries / Investment / Land / Manufacturing / Real estate
Banks / Busan Savings Bank / foreign banks / foreign investors / KDIC / Korea Deposits Investemnt Corporation / Property / property auctions / Real estate / Real estate developers / South Korean aid / South Korean investors

A prime piece of Phnom Penh real estate was put up for auction last week by a South Koran government agency attempting to recoup taxpayers' money lost during a bank collapse last year. Bids have been made that could see a new development on the site, ...

Appeal Begins in Cambodia-Related Fraud Case

18 May 2012
The Cambodia Daily
Economy and commerce / Judiciary and courts / Siem Reap
Airport / bankruptcy / Busan Savings Bank / Camko City development / CEOs / Fraud / fraudulent loans / illegal loans / Lee Sang-ho / Lee Sang-ho CEO of World City Co. Ltd. / Lee Tae-hwan / Lee Tae-hwan CEO of NSRIA Co. Ltd. / NSRIA Co Ltd / Phnom Penh / scandal / Seoul / Seoul court / Siem Reap / South Korean aid / World City Co Ltd

An appeal hearing in South Korea involving the CEOs behind two major property projects in Cambodia involved in a massive fraud scandal is scheduled to begin today, an official at the court in Seoul said. In February, a Seoul court sentenced a raft of executives of ...

Battle Over CamKo City Now in Court

14 March 2012
The Cambodia Daily
Economy and commerce / Investment / Siem Reap
Busan Savings Bank / CamKo City / Fraud / Investors / KDIC / Korea / Korea Deposit Insurance Corporation / Phnom Penh / Phnom Penh Municipal Court / Siem Reap airport / World City Co

A South Korean government agency and Korean investors in CamKo City are locked in an ownership dispute at the Phnom Penh Municipal Court over the half-built residential development project in Russei Keo district, according to court documents obtained yesterday. Following the collapse of the Busan Savings ...

Cambodia-Linked Investors Sentenced in Seoul

2 March 2012
The Cambodia Daily
Economy and commerce / Investment / Judiciary and courts / Siem Reap
Busan / Busan Savings Bank / CamKo / Korea / NSRIA Co Ltd / Seoul / Siem Reap / South Korean aid / World City Co Ltd

The chief executives of the firms behind two large-scale real-estate projects in Cambodia have been sentenced to jail in Seoul for obtaining illegal loans and using the money to finance fictitious companies abroad, according to a South Korean court official. The two executives were among a ...