CEO seeks to convert Naga capital to stock

27 June 2017

CEO of NagaCorp Ltd announced that he would seek to transfer his personal investment of $369 million used for the development of Naga 2 and NagaCity Walk in a concurrent conversion of bonds. This updated conversion, if accepted by shareholders and market regulators under a whitewash waiver, would see his stake in the Hong Kong-listed company jump from nearly 40% to 70%.

 

Source:

http://www.phnompenhpost.com/business/ceo-seeks-convert-naga-capital-stock

 

Maize has local farmers’ ears

22 June 2017

Growing demand for animal feed is driving up both the demand and price of corn, with smallholder farmers claiming the field crop offers a more stable market than cassava. Corn is grown on more than 140,000 hectares in Cambodia and can be harvested twice a year. Each hectare yields about 4.5 tonnes, putting Cambodia’s total production at around 640,000 tonnes last year.

Source:

http://www.phnompenhpost.com/business/maize-has-local-farmers-ears

Malaysia’s RHB Bank, AmBank in merger talks

7 June 2017

Malaysian financial firms RHB Bank and AmBank Group have entered negotiations for a potential merger. Its value at nearly $9 billion, which would make it the largest in the country’s history. Its Cambodian operations had an outstanding loan portfolio of $358 million as end of 2016, with deposits totalling $298 million.

Source:

http://www.phnompenhpost.com/business/malaysias-rhb-bank-ambank-merger-talks

Bank services VAT seen as ‘inefficient’

7 June 2017

Banking sector leaders have expressed concern over a new government decree that places additional fees on financial services, warning that the costs of what some have described as an “impractical and inefficient” tax would likely be passed along to consumers.

Source:

http://www.phnompenhpost.com/business/bank-services-vat-seen-inefficient

Emerald’s gold prospects improve

2 May 2017

The Australian-listed mining firm behind Cambodia’s Okvau gold project in Mondulkiri province released its definitive feasibility study (DFS) yesterday, confirming its predictions of 1.14 million ounces in gold reserves while reducing its projected investment costs for extraction.

Source:

http://www.phnompenhpost.com/business/emeralds-gold-prospects-improve

Rubber prices soar by 132%

27 April 2017

Cambodian rubber exports increased 32% during the first three months of 2017 compared with 2016, while prices grew 132% during the first quarter. The Kingdom exported 32,000 tons of rubber in the first quarter of 2017 with average prices reaching $2,032 per ton. Cambodia exported rubber to Vietnam, China, Malaysia and Singapore.

Source:

http://www.phnompenhpost.com/business/rubber-prices-soar-132pct

Air cargo service takes flight

17 March 2017

The new service, called Angkor Express Go, will transport goods along two main flight paths, with shipments travelling between Phnom Penh and Siem Reap, and between Siem Reap and Sihanoukville.

Source:

http://www.phnompenhpost.com/business/air-cargo-service-takes-flight