Control credit, says Moody's

While Cambodia’s Moody’s rating is still at the same B2 level as last year, its economic growth has been downgraded two points from 2015, with the international credit rating agency warning that the Kingdom’s rapid pace of credit growth could pose financial stability risks. “The pace ...

May Kunmakara

MFI lending continues on course

Cambodia’s microfinance sector continued to expand rapidly during the first half of the year, despite concerns over rising default rates as the industry’s main borrowers – provincial farmers – struggle to repay their loans after successive seasons of drought and poor harvests. ...

Hor Kimsay

Japanese capital flooding in to Cambodia

Total Japanese investment in Cambodia under the Kingdom’s qualified investment project (QIP) scheme surged tenfold during the first half of the year, driven by Japan’s improved economy and a hefty capital injection by one of its biggest retail giants. ...

Hor Kimsay

Global transactions easier with Acleda Mastercard

Cambodia’s leading commercial bank Acleda in partnership with MasterCard Asia and the Pacific, last week launched the Acleda MasterCard electronic plastic card to allow customers to make withdrawals through any ATM as well as make payments around the world where the MasterCard logo is displayed. ...

Sok Chan

Acleda increases share capital

Cambodia’s leading commercial bank Acleda announced late last week that it has injected an additional $42 million to top up the current share capital of $265.7 million, bringing the total registered share capital to $307.7 million. ...

Sok Chan

Acleda, Forte insurance to work together

Acleda, a leading commercial bank in Cambodia, and Forte Insurance (Cambodia) signed an agreement on Friday on general insurance and micro insurance and agreed to establish a basic framework to cooperate and promote a range of insurance products. ...

Sok Chan

Analysts shrug off drop in approved investment

The government approved more than $1 billion worth of domestic and foreign direct investment in the first quarter of the year, down sharply from the $2.8 billion approved in the same quarter last year, figures released by the Council for Development of Cambodia (CDC) yesterday ...

May Kunmakara

New Cambodia-Japan business group

The Cambodia-Japan Association for Business and Investment (CJBI) was officially launched yesterday in order to bring the business groups between the two countries together. ...

Sum Manet

Acleda adds $40M to expand operations

Cambodia’s largest bank, Acleda Bank, announced yesterday that it was infusing $40 million to add to its current capital of $226 million, as it looks to expand domestic and foreign operations and keep up with the rising demand for credit in the Kingdom. ...

May Kunmakara

Businesses up, reveals survey

Cambodia increased the number of business enterprises it had to 513,759 companies at the end of March last year, up from the 463,363 enterprises accounted for in 2011, according to the final results of the 2014 Cambodia Inter-Censal Economic Survey. ...

Hor Kimsay

Starting a business in Cambodia is getting harder, report says

Almost every aspect of starting or operating a business in Cambodia is becoming more difficult, according to a World Bank report released Wednesday. “Starting a business in Cambodia requires 11 procedures, takes 101.0 days, costs 139.5 percent of income per capita and requires paid-in minimum ...

Joshua Wilwohl

Competitiveness ranking slips

A lack of innovation has contributed to Cambodia dropping seven spots on the World Economic Forum’s 2014-15 Global Competitiveness Report (GCR), which was released on Wednesday. The Kingdom ranked 95th out of 144 countries, down from 88th in the previous report, according to the GCR. Apart ...

Hor Kimsay

IFC sells stake in Cambodia's commercial bank to Japanese bank

The International Finance Corporation (IFC), a member of the World Bank Group, has sold its 12.25 percent stake in Acleda bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) in an undisclosed amount after having supported Acleda for over 15 years, said an IFC news statement ...

Shanghai Daily News Staff

Amid credit expansion, Riel loans minimal

Cambodia’s credit sector is expanding rapidly with the central bank saying now is the time to start infusing the market with riel and begin a process of de-dollarization in the country’s economy. But as the growth of dollarized loans outstrips those in riel, disbursing credit ...

George Styllis and Kang Sothear

Cambodia Business Conference opens registration

Cambodia’s business community is anticipating keen interest from overseas investors as registration for the country’s international investment conference opens this week. The International Business Chamber (IBC) of Cambodia investment conference will take place on October 6th and 7th at the Intercontinental Hotel in Phnom Penh. The ...

The Cambodia Herald News Staff

Deadlock end lifts business spirits

Cambodia’s business community welcomed the news yesterday that the county’s longest-ever parliamentary deadlock had come to an end – a resolution investors say will help ease fears of political instability. The ruling Cambodian People’s Party and the opposition Cambodia National Rescue Party yesterday struck a deal ...

Eddie Morton and Daniel de Carteret

Remittances dip on exodus

Two of Cambodia’s largest financial service providers have reported declines in transactions stemming from key Thai border provinces as thousands of undocumented migrant workers continue to exit the neighbouring country. Third-party payments and remittance service Wing has seen a 3 per cent decline in the amount ...

Eddie Morton

ACLEDA Bank launches ACLEDA Internet Bank

ACLEDA Bank PLC, the Cambodia’s leading commercial bank, has launched a new service called “ACLEDA Internet Bank”, according to a statement on its website. The statement said the new service would offer additional alternative for its value customers in doing financial transactions via the internet at ...

The Cambodia Herald News Staff

E-Commerce Law goes ahead with WB funding

A draft law on e-commerce that would regulate electronic trade in Cambodia will arrive at the Council of Ministers in August, following revision by two other state institutions, officials at the Ministry of Commerce said Wednesday. Orm Dararith, director of the Ministry of Commerce’s legal department, ...

Hul Reaksmey

ADB lends 75 mln USD to Cambodian bank to support small firms

The Asian Development Bank (ADB) on Wednesday signed a 75 million U.S. dollars loan with Cambodia’s largest bank, Acleda Bank, to address the rising financing requirements of micro, small and medium-sized enterprises (MSME) in the country. The agreement was inked between Christine Engstrom, director in ADB’s ...

Xinhuanet News Staff

Staff poaching spurs bank action

Cambodia’s banking sector is looking to establish a collective fund to help recoup staff training expenses lost from competitors poaching employees off one another, Grant Knuckey, CEO of ANZ Royal said yesterday. Speaking at the launch of ANZ Royal’s business confidence index in Phnom Penh yesterday, ...

Eddie Morton and Daniel de Carteret

Acleda takes on tax collection role

Taxpayers are now able to pay their dues at Acleda Bank as the government seeks to outsource its tax revenue collection to the private sector, the head of Cambodia’s largest bank said yesterday. In Channy, president and CEO of Acleda bank, told the Post that the ...

Hor Kimsay and Daniel de Carteret

PM to open IBC International Investment Conference 2014

Cambodia’s Prime Minister Akka Moha Sena Padei Techo Hun Sen will officially open the country’s premier international investment conference in Phnom Penh later this year, according to the event’s organisers the International Business Chamber of Cambodia (IBC). The event, which will take place on October 6th ...

The Cambodia Herald News Staff

Government salaries to no longer be paid in cash

The wages of 400,000 civil servants from 39 government ministries are to be paid via a new electronic banking system due to be rolled out next month. Secretary of State for the Ministry of Economy and Finance Chu Kim Leng announced the new payroll system on ...

Chan Muy Hong

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