News

UNITEL's data roaming services cover Cambodia and Mauritius

The Angolan mobile company of UNITEL expanded its data roaming services to Cambodia and Mauritius, through accords established with the operators of Orange and Latelz. According to a press note from UNITEL that reached Angop on Monday, with these partnerships, UNITEL is enabling for its customers ...

http://www.portalangop.co.ao/motix/en_us/noticias/ciencia-e-tecnologia/2012/8/36/UNITEL-data-roaming-services-cover-Cambodia-and-Mauritius,1d076de2-cf1e-45ae-ab54-f36d90483a83.html

Beeline Appoints Second Boss in Three Months

Mobile operator Beeline announced Friday the appointment of the company’s second new general-director in less than three months. Said Abbadi, who formerly worked as CEO of Newroz Telecom in Kurdistan, started as Beeline Cambodia’s new boss on July 17, the company said in a statement. The ...

Koh Kong Land Dispute Case Delayed Again

The Koh Kong Provincial Court yesterday postponed the hearing of a controversial case against a Thai-owned sugar company that more than 200 families alleged had taken their land for the company’s sugar plantations, lawyers and village representatives said yesterday. Ny Sorphornneary, the lawyer for the families, ...

Local microfinance institute invests in new ATM network

Hattha Kaksekar Ltd, a local microfinance institution, has invested almost US$2 million in a new ATM network, the company announced yesterday. Hattha Kaksekar now has around $32 million in deposits and will become the first financial institution to use SmartVista, an automated ATM process which also ...

http://www.phnompenhpost.com/index.php/2012072057524/Business/mfi-to-invest-in-new-atm-network.html

World Bank raps dam study firm

The World Bank has blacklisted an arm of the company that carried out a much-criticised study into the Xayaburi hydro dam project, it has confirmed. According to the bank’s website, Pöyry Management Consulting Oy Finland has been banned from conducting business with the bank for three ...

http://www.phnompenhpost.com/index.php/2012072057536/National-news/world-bank-raps-dam-study-firm.html

Senator Kok An files new lawsuits

A defence lawyer for tycoon Kok An revealed yesterday that the senator had filed lawsuits in March against six relatives of Heng Chheang and his wife, Tep Kolap, both of whom were convicted last December of embezzling US$58 million from An’s wife’s Anco Brothers Co ...

http://www.phnompenhpost.com/index.php/2012071957513/National-news/senator-files-new-lawsuits.html

Malaysia Firm Buys Majority In Yellow Pages

The owner of Cambodia Yellow Pages has agreed in principle to sell a 51 percent stake to the subsidiary of Malaysian technology firm CBSA Bhd. in a deal worth $2.04 million, an official at the company said Monday. According to a disclosure last week from CBSA ...

GE Engines to power Cambodian rice husk power project

GE Energy has signed a contract with Cambodian industrial conglomerate Soma Group to supply two of its engines to power a biomass gasification facility. Soma Group’s Hak Se mill biomass gasification project is located in Cambodia’s rural rice milling region Kamphong Cham, and reinforces a 2011 ...

http://biomassmagazine.com/articles/7870/ge-engines-to-power-cambodian-rice-husk-power-project

Tai Yang garment strikers sacked

Garment employees who have refused to return to work after striking for three weeks no longer have jobs at Tai Yang Enterprise, which supplies Levi’s and Gap, management said yesterday. Tired of strikes the company claims are costing it US$10,000 per day, administrative manager Ou Meng ...

http://www.phnompenhpost.com/index.php/2012071657439/National-news/tai-yang-strikers-sacked.html

Cambodia carve-up under the spotlight

There were scenes of jubilation in Cambodia’s capital last month when a group of 13 imprisoned women – including a 72-year-old grandmother – was set free by an appeal court. The women were arrested in May during peaceful demonstrations against the forced eviction of thousands ...

http://www.atimes.com/atimes/Southeast_Asia/NG10Ae01.html

Strike will continue for thousands

Thousands of workers from the Tai Yang Enterprise garment factories, which supply major US brands Levis and Gap, have vowed to continue a two-week strike today after negotiations between the company, union and Labour Ministry officials broke down on Friday. “The minister did not protect ...

http://www.phnompenhpost.com/index.php/2012070957301/National-news/strike-will-continue-for-thousands.html

Real estate firm ready for CSX listing

Bonna Realty Group will prepare to list on the Cambodia Securities Exchange, the company’s president said this week. The real estate firm joins a small but growing group of private companies that say they are gearing up for initial public offerings on the new exchange. ...

http://www.phnompenhpost.com/index.php/2012070657246/Business/real-estate-ready-for-csx.html

Beeline General Director Exits after Two Months

Mobile operator Beeline yesterday announced the departure of Siddhanta Kothari as its general director of Cambodian operations after just two months in the job. According to the statement, Mr. Kothari had been seated in the position for a fixed two-month term to “ensure the sustainability of ...

Road blocked as strike escalates

Thousands of workers from factories owned by Tai Yang Enterprise in Kandal province’s Ang Snuol district blocked National Road 4 for more than seven hours yesterday to push the company to meet their demands. May Sopheaktra said workers decided to block the road after the companytried ...

http://www.phnompenhpost.com/index.php/2012070557231/National-news/road-blocked-as-strike-escalates.html

Prudential granted approval by ministry

Prudential Corporation Asia yesterday received “in-principle” approval from the Ministry of Economy and Finance to establish a foreign-owned life insurance operation in the country, an official statement from the company said. The announcement comes after Canadian life insurance giant Manulife on Thursday made public plans for ...

http://www.phnompenhpost.com/index.php/2012070357155/Business/prudential-granted-approval.html

Cambodia ripe for more exports

Cambodia offers plenty of opportunities for Vietnamese exporters although there is intense competition from countries such as Thailand and China, delegates said at a conference in HCM City last Thursday. Le Quoc Phong, general director of the Binh Dien Fertiliser Group, said the Cambodian market had ...

http://vietnamnews.vnagency.com.vn/Economy/226853/cambodia-ripe-for-more-exports.html

'Hong Kong Land' Project Pushed Back to 2013

Property development firm Hongkong Land (HKL) will not break ground on a 10,700-square-meter mixed-use office and retail project in Phnom Penh’s Daun Penh district until at least 2013, officials at the firm said Thursday. HKL acquired the property behind the U.S. Embassy in April 2011 as ...

Manulife targets Cambodia's growing middle class

Manulife Financial Corp, Canada’s largest life insurer, has set up shop in Cambodia, hoping to tap into an emerging middle class in the southeast Asian country. The move is part of the Toronto-based company’s strategy of targeting profit growth in Asia as part of its plan ...

http://uk.reuters.com/article/2012/06/28/manulife-cambodia-idUKL2E8HS5D120120628?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews

Sweet deal

Stevia Nutra Corporation, a Canadian agro-business company, has announced its decision to grow stevia in Cambodia’s Kampong Speu province. The company will grow the plant, whose leaves are used as a sweetener or sugar substitute, on just over 20 hectares of land close to Phnom Penh. Stevia Nutra has incorporated Mighty MekongAgro Industries Co. Ltd, ...

http://www.etmcambodia.com/blog.php?article=481

Court rules Nautisco solvent

Nautisco Seafood Manufacturing, once Cambodia’s premier seafood-processing company, will not undergo government-brokered restructuring after a Cambodian appeals court yesterday declared the company solvent. The ruling was a first test for the law on corporate restructuring and insolvency. The decision sounds positive for the company. But now the ...

http://www.phnompenhpost.com/index.php/2012061556808/Business/court-rules-nautisco-solvent.html

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