News

Credit growth starts to cool off

New data released by Cambodia’s independent credit reporting agency indicate a significant slowdown in the rate of lending during the second quarter of the year, a sign that banking industry experts claim is due to a tightening of lending criteria and less demand from the ...

Kali Kotoski
http://www.phnompenhpost.com/business/credit-growth-starts-cool

Property doubts resurface following The Bay’s suspension

Cracks are beginning to appear in Phnom Penh’s property market following news this week that Singapore developer TEHO International has placed its troubled, $500 million upscale real estate project on hold. Citing an “unfavourable macro-economic outlook” in Phnom Penh’s condo sector, the Singapore-listed firm blamed poor ...

Lauren Barrett
http://www.phnompenhpost.com/post-property/property-doubts-resurface-following-bays-suspension

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
http://www.khmertimeskh.com/news/28970/control-credit--says-moody-s/

Report confirms residential oversupply

The latest report on the state of Phnom Penh’s property market makes bleak reading for investors and those betting on a lucrative future in the short-term. ...

Post Staff
http://www.phnompenhpost.com/post-property/report-confirms-residential-oversupply

Microfinancer Prasac looking to partner up with Korean giant

Woori Bank, South Korea’s second-largest bank in terms of assets, is vying to purchase a 50 per cent stake Cambodia’s largest microfinance institution, Prasac, the company’s CEO confirmed yesterday. ...

Hor Kimsay
http://www.phnompenhpost.com/business/microfinancer-prasac-looking-parter-korean-giant

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
http://www.khmertimeskh.com/news/24306/analysts-shrug-off-drop-in-approved-investment/

Sathapana to become a commercial bank

Sathapana Microfinance Plc, one of the largest in Cambodia, will officially transform itself into a commercial bank late next month, a move in line with Japanese-owned Maruhan Bank acquiring a 95.1 percent stake in 2012. ...

May Kunmakara
http://www.khmertimeskh.com/news/23125/sathapana-to-become-a-commercial-bank/

Strong dollar not helpful for cambodia

The strong dollar might cause pain to Cambodia’s economy by reducing margins and purchasing power for both importers and exporters. ...

Igor Kossov
http://www.khmertimeskh.com/news/14511/strong-dollar-not-helpful-for-cambodia/

Cambodia’s int’l trade value up 9 percent

The value of Cambodia’s international trade increased by about 9 percent in the first six months of this year compared with the same period last year, according to the latest data from the Commerce Ministry. ...

Kang Sothear
https://www.cambodiadaily.com/business/cambodias-intl-trade-value-up-9-percent-91908/

Stalled interbank market clogging up liquidity

At least $1 billion in surplus liquidity is sitting idle in Cambodia’s banking system and could be unlocked if the central bank implemented a more effective interbank lending mechanism, experts say. ...

Cam McGrath
http://www.khmertimeskh.com/news/12776/stalled-interbank-market-clogging-up-liquidity/

Outstanding credit could reach $30B by 2020

The total amount of loans in Cambodia’s banking sector could rise to $30 billion by 2020, according to a report released today by Mekong Strategic Partners, a new investment and advisory fund. Amid such growth, banks will be challenged to drastically expand their operations and will ...

George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/outstanding-credit-could-reach-30b-by-2020-69127/

Three Charged for $2.3 Million Embezzlement From Banks

The former manager of Canadia Bank’s credit section, along with two accomplices at the bank, were charged Thursday with theft and forgery for allegedly embezzling about $2.3 million from ABA and SBC banks, according to municipal court and police officials. “The deputy [municipal court] prosecutor has ...

Eang Mengleng
http://www.cambodiadaily.com/news/three-charged-for-2-3-million-embezzlement-from-banks-44403/

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 ...

http://www.camnet.com.kh/cambodia.daily

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

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

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