Thitikorn to open two branches in Cambodia

25 December 2015

Listed hire-purchase company Thitikorn plans to open two branches in Cambodia next year, after being in the market for one year and finding huge opportunity and high demand for motorcycle lending there. Meanwhile, the motorcycle hire-purchase market is expected to return to growth in 2016 after declining for the past two years.

Source:

http://www.nationmultimedia.com/business/Thitikorn-to-open-two-branches-in-Cambodia-30275540.html

 

Shinhan Bank Opens 5th Branch in Cambodia

25 December 2015

Shinhan Bank announced on 23 December that it has opened a new branch in Steng Min Chey, an emerging developing area in Phnom Penh, in order for Shinhan Khmer Bank, a subsidiary of Shinhan Bank in Cambodia, to accelerate its business in the country. With the opening the bank plans to release a debit card combined with a student ID early next year through a MOU with Pannasastra University of Cambodia.

Source:

http://www.businesskorea.co.kr/english/news/industry/13395-140th-international-network-node-shinhan-bank-opens-5th-branch-cambodia

EU still the Kingdom’s best export destination

25 December 2015

The EU will continue to remain Cambodia’s biggest export recipient, mopping up $2.32 billion in shipments this year, with the US following a close second at $2.07 billion. The Asia Pacific market, a growing export destination, also both the US and EU having increased confidence in buying from the Kingdom “textiles, footwear and rice”.

Source:

http://www.phnompenhpost.com/business/eu-still-kingdoms-best-export-destination

PPWSA’s Q3 profit hit by expenses

25 December 2015

Cambodia’s first listed company, the Phnom Penh Water Supply Authority, yesterday reported a 41% drop in profits after tax for the quarter ending 30 September, with the company attributing the drop to an increase in expenses incurred. Its share price ended yesterday’s trading session at the Cambodia Securities Exchange up 0.4% to 4,880 riel ($1.21).

Source:

http://www.phnompenhpost.com/business/ppwsas-q3-profit-hit-expenses

Starbucks opens doors in airport

23 December 2015

The long-awaited Starbucks coffee chain opened its doors to passengers yesterday in the Phnom Penh International Airport’s new terminal, adding to the airport’s growing food and beverage offerings. The US coffee giant plans to open another cafe in the capital next year. It expected to heat up competition among local and international brands.

Source:

http://www.phnompenhpost.com/business/starbucks-opens-doors-airport

PPWSA’s Q3 profit hit by expenses

23 December 2015

Cambodia’s first listed company, the Phnom Penh Water Supply Authority, yesterday reported a 41% drop in profits after tax for the quarter ending 30 September, with the company attributing the drop to an increase in expenses incurred. Its share price ended yesterday’s trading session at the Cambodia Securities Exchange up 0.4% to 4,880 Riel ($1.21).

Source:

http://www.phnompenhpost.com/business/ppwsas-q3-profit-hit-expenses

Thai Insurer Planning to Enter Cambodia

22 December 2015

Muang Thai Life Assurance (MTL) is planning to expand to the Cambodian market early next year. Its president and CEO was quoted that the Ministry of Commerce is expected to grant a life insurance operating license to the company’s joint-venture partners Sovannaphum Life Assurance early next year, with the company selling via agencies, bancassurance and online. 

Source:

http://www.khmertimeskh.com/news/18942/thai-insurer-planning-to-enter-cambodia/

Chinese Investment to ‘Bear Fruit Soon’

22 December 2015

Cambodia and China build trust between each other with fruitful economic cooperation, such as [at the] Chinese Special Economic Zone in Sihanoukville, [and in the] hydropower dam, port, airport, expressway, and agricultural zones.  Some of these projects will bear fruit soon and benefit the citizens of both countries. 

Source:

http://www.khmertimeskh.com/news/18940/chinese-investment-to----bear-fruit-soon---/

US$20 Million-Five-Star Hotel Breaks Ground on Koh Rong Island

21 December 2015

The US$20 million-five star hotel named “Royal Sands Koh Rong” on Koh Rong (Rong Island) of Preah Sihanouk province, a major tourism destination for both local and foreign tourists. The construction is scheduled to finish in November 2016, and once completed, the hotel will make Koh Rong become a key attractive tourism destination in the region.

Source:

http://www.akp.gov.kh/?p=73609

Exports of palm oil up, despite price drop

21 December 2015

Exports of crude palm oil from the Mong Reththy Company – the Kingdom’s sole producer of the product – increased 8.1% for the first 11 months this year. The company exported 21,384 metric tons of crude palm oil so far this year. The group also plans to build a cooking oil plant. The group exports it crude palm oil to countries in Southeast Asia and the European Union.

Source:

http://www.phnompenhpost.com/business/exports-palm-oil-despite-price-drop

Cambodia, Thailand push ahead with railway line

21 December 2015

Cambodia and Thailand have agreed to push ahead with completion of a railway line from Bangkok to Phnom Penh. Cambodia will focus on completing a 6.5-kilometre railway stretch between Poipet and Sisophon by mid-2016, as well as look into the possibility of having trains to Singapore. It is the low-cost and quicker option of travelling to Thailand.

Source:

http://www.phnompenhpost.com/business/cambodia-thailand-push-ahead-railway-line

Telecom Law Opens Door for Investment: Official

9 December 2015

The new Telecom Law will open the sector for more investment as the government moves to ensure infrastructure for telecom services is provided nationwide by 2020. The consumers in Cambodia and the region are using a variety of mobile applications to communicate, with the most popular being Line, WhatsApp, and Viber. The use of Apps is surging in Cambodia and the region.  

Source:

http://www.khmertimeskh.com/news/18475/telecom-law-opens-door-for-investment--official/

Cambodia’s Modern Cement Plant To Be Constructed in Early 2016

9 December 2015

Cambodia’s biggest cement plant will be constructed in Cambodia’s southwestern province of Kampot in early 2016 with a total investment capital of some US$262 million. Once the construction finished, this plant would be capable of producing some 5,000 tons of cement a day.

Source:

http://www.akp.gov.kh/?p=73146

136-Meter-High Skyscraper To Emerge in Phnom Penh by 2018

9 December 2015

A 136-meter-high skyscraper dubbed “Diamond Twin Tower - world-class twin” will emerge on an area at Koh Pich, Phnom Penh. It is expected to complete in May 2018 with the US$60 million construction project held here late last week. The project will include a 30-storey office building and a 32-storey commercial building.

Source:

http://www.akp.gov.kh/?p=73123

Cambodian mangoes could soon roll to Seoul

9 December 2015

Cambodia signed a memorandum of understanding with South Korea yesterday to export Cambodian mangoes and expand its short list of export destinations. The Cambodian mangoes is lower price if compared to neighboring nations has created high potential for export. Local producers currently export to China, France, Malaysia, Singapore, Thailand and Vietnam.

Source:

http://www.phnompenhpost.com/business/cambodian-mangoes-could-soon-roll-seoul

MAFF Partnered with Grow Asia to Promote Cambodia’s Agriculture

8 December 2015

Ministry of Agriculture, Forestry and Fisheries (MAFF) have lately partnered with a multi-stakeholder partnership platform Grow Asia to promote collaboration and catalyze action in support of Cambodia’s agriculture. The country’s agricultural products in Grow Asia’s current focus are rice, chilly, cassava, corn and rubber. In the future, fisheries, livestock and other areas will be included.

Source:

http://www.akp.gov.kh/?p=73080

Third Tranche of Port Shares Snapped Up Swiftly

8 December 2015

The third and final tranche of 1.8 million shares in Phnom Penh Autonomous Port’s (PPAP) recent initial public offering (IPO) sold out by the middle of last month. The shares were sold in three tranches. PPAP will be the second state-owned enterprise to list on the bourse, after Phnom Penh Water Supply Authority listed when the CSX launched.

Source:

http://www.khmertimeskh.com/news/18432/third-tranche-of-port-shares-snapped-up-swiftly/

Airline looks for new partners to increase bookings

8 December 2015

Cambodia's flagship carrier Cambodia Angkor Air plans to expand its partnerships with leading global distribution system (GDS) networks to improve its worldwide reservation and ticketing system. Cambodia Angkor Air has six GDS partners: Amadeus, Abacus, TravelSky, Topas, Infini and Galileo/Apollo.

Source:

http://www.phnompenhpost.com/business/airline-looks-new-partners-increase-bookings

Kingdom rice production to top 9.2 million tons

8 December 2015

Cambodia’s total rice production this year will exceed 9.2 million tons compiled by the Ministry of Agriculture. The figures showed nearly 2.1 million tons of dry season rice harvested this year, and another 7.1 million tons of rainy season crop expected by the end of 2015.

Source:

http://www.phnompenhpost.com/business/kingdom-rice-production-top-92-million-tonnes

Thailand, Cambodia to open new border crossing in Sa Kaeo

7 December 2015

The 5th Committee Joint Trade Meeting which was co-chaired by Thailand’s Commerce Minister and her Cambodian counterpart discussed a wide range of cooperation which was mainly focused on trade and investment along the Thai-Cambodian border. It is on the possibility of opening up one more border crossing in Sa Kaeo in order to help ease congestion at other crossings.

Source:

http://news.thaivisa.com/thailand/thailand-cambodia-to-open-new-border-crossing-in-sa-kaeo/123699/

Thailand, Cambodia agree to strengthen cooperation in trade and investment

7 December 2015

Cambodia and THAILAND have agreed to strengthen ties in trade, investment, and other forms of cooperation, aiming for double-digit annual growth in bilateral trade from now on. Both sides also agreed to accelerate the Two MOU on the exchange of traffic rights for cross-border transport to expand the vehicle quota, and bilateral negotiations on the Agreement on Road Transport.

Source:

http://www.nationmultimedia.com/business/Thailand-Cambodia-agree-to-strengthen-cooperation--30274410.html

Expressway from Center of Phnom Penh to Airport To Be Built Soon

7 December 2015

The expressway from the center of Phnom Penh to the airport would begin in the near future. The 20-meter-wide toll road will be built by China’s Henan Provincial Communications Planning Survey and Design Institute under the BOT (Build-Operate-Transfer) contract. The expressway would start at Boeung Kak by passing over rail lines and some boulevards.

Source:

http://www.akp.gov.kh/?p=73012

Cambodia’s Construction Sector Attracts Nearly US$3 Billion Investment

7 December 2015

The first 11 months of this year, Cambodia attracted nearly US$3 billion investment in the field of construction. The construction sector received a total of US$2,936 million investment capital, up 27% compared to the same period of the previous year. Of the total amount, some US$1,581million or 54% have been invested in the construction of 56 buildings from 10 to 55 floors.

Source:

http://www.akp.gov.kh/?p=73032

Chinese firm to build new factory in Kampot

7 December 2015

China’s largest heavy machinery manufacturer has been awarded a $262 million contract to build a cement factory in the southwestern province of Kampot. CITIC Heavy Industries secured an engineering, procurement and construction contract from the joint venture between Thai cement firm Siam City Cement and Cambodian-owned Chip Mong Group.

Source:

http://www.phnompenhpost.com/business/chinese-firm-build-new-factory-kampot

Grow Asia to cultivate partners in Cambodia

4 December 2015

Grow Asia, a multi-stakeholder partnership that aims to develop sustainable and inclusive agriculture in the ASEAN region, will launch its first workshop in Cambodia in March. The partnership platform will cooperate with Cambodia’s Agriculture Ministry, the World Bank, the World Economic Forum (WEF) and other stakeholders to help develop Cambodia’s agricultural sector, with priority going to rice, vegetables, chillis, corn, cassava and rubber.

Source:

http://www.phnompenhpost.com/business/grow-asia-cultivate-partners-cambodia

Chinese carrier launches direct flight to Sihanoukville

4 December 2015

Lucky Air has launched direct flights from Kunming to Sihanoukville, becoming the first Chinese carrier to offer year-round regular scheduled service to the coastal Cambodian city. It operates a Boeing 737-800 on the 1,600-kilometre flight between Kunming in southern China and Sihanoukville on Cambodia’s southern coast.

Source:

http://www.phnompenhpost.com/business/chinese-carrier-launches-direct-flight-sihanoukville

2015: Some 694 Skyscraper Construction Projects in Phnom Penh

2 December 2015

The First half of 2015, Phnom Penh Municipality has received some 694 construction projects of skyscrapers, satellite cities, commercial buildings, residential buildings, condominiums and hotels. The governor highlighted the country’s investment potential in construction and real estate sectors.

Source:

http://www.akp.gov.kh/?p=72297

Turkish cosmetics firms eye market

2 December 2015

Representatives of 21 Turkish cosmetics and self-care brands pitched their products to wholesalers, retailers and distributors at a cluster meeting in Phnom Penh yesterday, looking to get a foothold in one of Asia’s fastest-growing consumer markets. While trade between Turkey and Cambodia hopes to see it reach $500 million by 2020.

Source:

http://www.phnompenhpost.com/business/turkish-cosmetics-firms-eye-market

Rice prices seen gaining ground in Mekong region

2 December 2015

A prolonged regional drought is expected to push Thai and Vietnamese rice prices up by 10 to 15%, narrowing the price gap that has kept Cambodian rice exporters from securing major international supply orders. Cambodia has been produced some 9 million tons of paddy rice, of which 4 million tons was surplus.

Source:

www.phnompenhpost.com/business/rice-prices-seen-gaining-ground-mekong-region

Chinese firm intends to list on CSX in 2016

2 December 2015

Hong Kong-based developer Eastland Development (HK) Ltd has expressed interest in listing on Cambodia’s stock exchange within a year. Also the SECC is also reviewing the applications of three local companies that intend to list within the next year, namely Phnom Penh Special Economic Zone (PPSEZ), TY Fashion and Sihanoukville Autonomous Port.

Source:

http://www.phnompenhpost.com/business/chinese-firm-intends-list-csx-2016

MFI seeks licence to operate as a commercial bank

19 November 2015

Sathapana Ltd, the third-largest microfinance institution (MFI) in Cambodia, has submitted a formal application to the central bank to merge with a local Japanese-owned bank and operate the consolidated entity as a commercial bank. The marriage will bring together more than 90,000 deposits and 105,000 loans – the majority coming from the MFI.

Source:

http://www.phnompenhpost.com/business/mfi-seeks-licence-operate-commercial-bank

New Agreements to Bolster Intelligence, Investment Ties With Russia

19 November 2015

Cambodia and Russia will sign a package of six agreements on 22-24 November between the two countries on official visit of Russian Prime Minister to Cambodia, including on investment, and money laundering cooperation among political parties. Trade volume between Cambodia and Russia declined last year, with only $48.01 million in 2014.

Source:

http://www.khmertimeskh.com/news/17960/new-agreements-to-bolster-intelligence--investment-ties-with-russia/

PPAP share offer fully subscribed

19 November 2015

Phnom Penh Autonomous Port (PPAP), the state enterprise that operates Cambodia’s second-largest port, successfully raised $5.2 million in an initial public offering that was more than 1.4 times oversubscribed. The company’s total revenue increased more than 14% year-on-year during the first nine months of 2015 due to a surge in cargo traffic.

Source:

http://www.phnompenhpost.com/business/ppap-share-offer-fully-subscribed

UK Trade Envoy Pushes FDI, British Brands

18 November 2015

The United Kingdom sees Cambodia as a strategic location at the heart of a transportation network through Thailand, Vietnam and Laos to reach China and other countries in the region and the world. Cambodia offers plenty of opportunities for trade and investment. It has higher valued-added production and has more potential for FDI as large Asian companies seek to diversify their production bases in Thailand and other neighboring countries. 

Source:

http://www.khmertimeskh.com/news/17898/uk-trade-envoy-pushes-fdi--british-brands/

Insurance premiums swell on new business growth

18 November 2015

The growth of new enterprises across many different sectors in Cambodia is driving the rapid growth of insurance premiums and policy holders. Non-life insurance premiums grew 20.2% over the past year with total premiums topping $46 million. Property and fire insurance saw a 44.1% year-on-year gain in the third quarter, while medical insurance rose 38.9% in the same period.

Source:

http://www.phnompenhpost.com/business/insurance-premiums-swell-new-business-growth

OPIC Plans More Investment in Cambodian MFIs

17 November 2015

A US government finance institution plans to inject more capital into Cambodia's businesses, forecasting rapid growth in small business and microfinance institutions around the country. OPIC currently manages an $18 billion portfolio of projects in more than 100 countries and operates on a self-sustaining basis.  Most of its investments focus on infrastructure, power and energy, and microfinance or SME lending.

Source:

http://www.khmertimeskh.com/news/17866/opic-plans-more-investment-in-cambodian-mfis/

Rice Forum Aims to Strengthen Value Chain

17 November 2015

The Cambodia Rice Federation (CRF) and the Association for SMEs of Cambodia will jointly hold the fifth Cambodia Rice Forum to discuss the future of the country's rice industry with major stakeholders. It is scheduled for the 24-26th of January, is aimed at boosting rice production and promoting rice exports. Rice exports reached 400,800 tons in the first eleven months of the year, reaching 58 countries around the world. 

Source:

http://www.khmertimeskh.com/news/17865/rice-forum-aims-to-strengthen-value-chain/

1.6 Million Foreign Tourist Visited Angkor Temples for the First Ten Months of 2015

16 November 2015

Over 1.6 million foreign tourists visited Angkor temples for the first ten months of 2015. More than US$47.6 million was the income from the sale of entry tickets alone. It’s optimistic that the number of international tourists visiting Angkor temples will be at least the same as the previous year of about two millions.

Source:

http://thecambodiaherald.com/cambodia/16-million-foreign-tourist-visited-angkor-temples-for-the-first-ten-months-of-2015-9068

Developer Adds Touch of Nature in Luxury Condo Project

13 November 2015

One of the country’s fastest-growing developers, Orkidé Villa, is making a move for a share of the premium condominium  market with a $350 million condo and mall project that will cover a 36-hectare area of Sen Sok district adjacent Street 2004. The Construction will begin in the middle of next year and be completed within three years. 

Source:

http://www.khmertimeskh.com/news/17765//

Motorcycle leasing firm reports huge profit rise

13 November 2015

Group Lease PCL, a Thai-listed motorcycle leasing firm, reported a staggering 3,124% surge in profits in the third quarter of 2015, it attributed in a large part to its operations in Cambodia. Of these, about 70 million baht came from the company’s Thai operations, while the remaining 80 million baht were contributed from its overseas operations.

Source:

http://www.phnompenhpost.com/business/motorcycle-leasing-firm-reports-huge-profit-rise

Mining firms gear up for big season

12 November 2015

With the rainy season petering out, mining companies are gearing up to resume full operations on prospects in northern and eastern Cambodia, with investors keeping a close watch as firms push to expand their resource estimates and the country prepares to open its first royalty-bearing commercial mine.

Source:

http://www.phnompenhpost.com/business/mining-firms-gear-big-season

Cambodia’s Exports to U.S. Increase by 7.76% in First Nine Months

12 November 2015

For the first nine months of this year, Cambodia’s exports to the U.S. were valued at US$2,332 million, up 7.76% from US$2,164 million during the same period of 2014. Most of the exported products to the U.S. included textile, garment, footwear, rice and so on. But in 2014, the exports to the U.S. fell to 30% while to the EU increased to almost 50%.

Source:

http://www.akp.gov.kh/?p=71866

Slight Dip in Rice Yields ‘Won’t Affect Exports’

11 November 2015

As the harvest of wet-season rice ends this month, a report from the Ministry of Agriculture says the yield will fall slightly below the target but this will not affect exports. Rice will be harvested from about 2.55 million hectares of land, about 99.53% of the targeted 2.56 million hectares. Cambodia exported 408,169 tons of milled rice in the first 10 months of the year, with about 65% going to Europe. Exports of milled rice to China totaled 83,577 tons in the period.  

Source:

http://www.khmertimeskh.com/news/17674/slight-dip-in-rice-yields----won---t-affect-exports---/

Share price set for port’s $5.2M IPO

11 November 2015

Phnom Penh Autonomous Port (PPAP), the state enterprise that operates Cambodia’s second-largest port, priced its shares at 5,120 riel ($1.26) following a book build to institutional investors as it looks to raise $5.2 million in an initial public offering. The sole underwriter and book-runner of the IPO indicated that 44.95% of the share offering had been allocated to strategic investors, while 45.05% was allocated to successful book build investors and subscribers.

Source:

http://www.phnompenhpost.com/business/share-price-set-ports-52m-ipo

Firms required to re-register online

10 November 2015

More than 50,000 companies registered with the Ministry of Commerce will be required to re-register when the ministry rolls out its online registration system next month. The new online system will be launched on 7 December, and aims to cut through the notorious red tape involved in starting a business in Cambodia.

Source:

http://www.phnompenhpost.com/business/firms-required-re-register-online

Online supermarket ready to take orders

10 November 2015

KhmerToGo.com can’t solve the capital’s traffic problem, but it can keep residents and restaurant owners from getting stuck in it. The new online supermarket is set to go fully operational next week, offering what it claims will be the country’s most comprehensive selection of wholesale and retail grocery items for online ordering and delivery.

Source:

http://www.phnompenhpost.com/business/online-supermarket-ready-take-orders

Banks push for more trade in yuan

6 November 2015

With trade between Cambodia and China steadily growing, banking sector players have put out a call to increase facilities for businesses using Chinese currency to pay for imports and exports. The Bank of China is one of two approved yuan clearing banks in Cambodia, along with Industrial and Commercial Bank of China (ICBC). Bilateral trade between Cambodia and China topped $3.7 billion last year and is expected to reach $5 billion by 2017.

Source:

http://www.phnompenhpost.com/business/banks-push-more-trade-yuan

Siam Cement Moving to Expand in Cambodia

6 November 2015

Thailand’s largest industrial conglomerate and the majority shareholder in Kampot Cement, Siam Cement Group (SCG), is expanding production capacity and diversifying its product line to tap opportunities in Cambodia’s “booming” construction industry. The company plans to invest an additional $300 million in Cambodia over the next five years. 

Source:

http://www.khmertimeskh.com/news/17535/siam-cement-moving-to-expand-in-cambodia/

Government to revamp porous tax code

6 November 2015

The government will scrap its poorly regulated and grossly inefficient estimated-tax regime, which covers mostly small enterprises, and bring all businesses in the Kingdom into the fold of its more-stringent “real” tax regime, leaked documents show. The real regime slots businesses into three brackets – small, medium and large taxpayers – based on their annual turnover, with the tax rate for an incorporated entity set at 20%.

Source:

http://www.phnompenhpost.com/business/government-revamp-porous-tax-code

Cambodia Receives Over US$3.000 Million Investment in First Nine Months

5 November 2015

Cambodia has attracted investments with a total value of US$3,315 million in the first nine months of 2015, thanks to the stability of trade policy and government’s efforts. For the first nine months of this year, there were 94 investment projects recorded with a total investment capital of US$3,315 million.

Source:

http://www.akp.gov.kh/?p=71466

Time Schedule for Visit of Angkor Temples from January 2016

5 November 2015

The Authority for the Protection and Management of Angkor and the Region of Siem Reap (APSARA) has set a time schedule for the visit of tourists in the Angkor Archeological Park. The Angkor Wat and Srah Srang Temples are opened from 5:00 to 17:30, Phnom Bakheng and Pre Rup Temples from 5:00 to 19:00 while other temples from 07:30 to 17:30.

Source:

http://thecambodiaherald.com/cambodia/time-schedule-for-visit-of-angkor-temples-from-january-2016-9056

PPSEZ sweetens its IPO plan

5 November 2015

The book-build and upcoming listing of the capital’s port operator has taken some of the wind out of the sails of the IPO plans Phnom Penh Special Economic Zone (PPSEZ), but the industrial park operator has charted a new course and sweetened its dividend policy to entice potential investors.

Source:

http://www.phnompenhpost.com/business/ppsez-sweetens-its-ipo-plan

Condo boom in Cambodia's capital driven by expat demand and a leap of faith

3 November 2015

High-rise apartments are springing up across Cambodia's capital, part of a property boom led by expat demand, while developers are also betting the country's growing middle class will shed a traditional distaste for "living on top of each other". Prime residential land prices in the capital jumped 14.1% in the first half of this year, the biggest rise among 13 Asian cities in a Knight Frank research report.

Source:

http://www.reuters.com/article/2015/11/02/cambodia-condominiums-idUSL3N12N3UL20151102

Financial tool tweaked to sharpen interbank market

3 November 2015

Cambodia’s central bank has decreased the minimum-investment threshold on negotiable certificates of deposit (NCDs) and will no longer offer term-deposit accounts in an effort to kick start the sputtering interbank lending market. Current interest rates on riel-denominated and dollar-denominated NCDs with six-month maturities stand at 1.8% and 0.4%, respectively.

Source:

http://www.phnompenhpost.com/business/financial-tool-tweaked-sharpen-interbank-market

Central Bank Moves to Spark Interbank Lending

2 November 2015

The National Bank of Cambodia has decreased the minimum value of negotiable certificates of deposit (NCDs) in a bid to promote interbank lending in the Kingdom’s crowded financial industry. The minimum value of riel-denominated NCDs was lowered from 2 billion to 200 million riel, while the minimum value of US dollar NCD’s was lowered from $500,000 to $50,000. The central bank also said that as of yesterday it will stop offering term-deposit accounts.

Source:

http://www.khmertimeskh.com/news/17371/central-bank-moves-to-spark-interbank-lending/

City Bus Service to Connect to Provinces

2 November 2015

Phnom Penh Municipality has anticipated the connection of city bus service to other provinces across Cambodia. The city bus has enabled comfort, safety and saving for Phnom Penh dwellers and reduced existing traffic issue. As of now, there are 57 city buses being used in Phnom Penh. With intention to assist the sector, the Government of Japan agreed to provide 130 buses and China, 100 buses to Cambodia shortly.

Source:

http://www.akp.gov.kh/?p=71232

Prince Finance launches in Cambodia

2 November 2015

After receiving a licence from the National Bank of Cambodia in August, the microfinance institution Prince Finance has started its business to cater to the financial needs of local and foreign customers.

Source:

http://www.phnompenhpost.com/business/prince-finance-launches-cambodia

World Bank says Cambodia's business environment improves

30 October 2015

The World Bank said Cambodia has continued to improve its business environment over the past year. Among 189 economies, it is now ranked at 127, compared with 133 in 2014. Cambodia has made solid progress in promoting a better business environment. These improvements will help Cambodia to achieve its goal of enhancing business investment and job creation.

Source:

http://www.shanghaidaily.com/article/article_xinhua.aspx?id=307132

Mesco set to draw first gold from Ratanakkiri mine

30 October 2015

Mesco Gold has established the required surface-level infrastructure and is awaiting government approval to begin the extraction of gold at its Phum Syarung mine in Ratanakkiri province. It could begin drawing gold in early 2016. Angkor Gold estimates that an underground mine built at Phum Syarung could produce 10,000 ounces of gold a year over a 10-year mine life.

Source:

http://www.phnompenhpost.com/business/mesco-set-draw-first-gold-ratanakkiri-mine

Japan’s Investment Capital in Cambodia Reaches US$679 Million

28 October 2015

Up to August 2015, some 106 Japanese companies have invested in Cambodia with a total investment capital of approximately US$679 million. Some 67 have invested in special economic zones with US$279 million investment capital. During the first half of this year, the total investment capital in Cambodia has reached US$3,300 million, of which some US$2,924 million are from local investment.

Source:

http://www.akp.gov.kh/?p=69455

New fertiliser factory to target local market

28 October 2015

Taiwan Fertiliser Company, a Taiwanese manufacturer and seller of fertilisers and chemical products, intends to build a fertiliser factory in Preah Sihanouk province to supply the local market. Some 20 private firms compete in Cambodia’s fertiliser market, which is dominated by Thai and Vietnamese imports. Local investors and the government said should also take up this opportunity to invest in the sector.

Source:

http://www.phnompenhpost.com/business/new-fertiliser-factory-target-local-market

Cambodia’s Rice Export Keeps Increasing in First Nine Months

27 October 2015

Even though the export of Cambodian rice export during the first nine months of this year saw a significant increase if compared with the same period of the previous year. Cambodia has exported over 360,000 tons of milled rice, up 37%, of which 64% to the Europe markets. Beside Europe, Cambodia has exported her fragrant rice to more than 40 other countries.

Source:

http://www.akp.gov.kh/?p=69718

Cambodia’s Construction Sector Increases by 13.75% in First Nine Months of 2015

27 October 2015

For the first nine months of this year, Cambodia attracted 1,532 construction projects worth in total US$1,752 million, up 13.75% from some US$1,540 million during the same period of 2014. In 2014, Cambodia’s construction sector earned some US$2,500 million, showing an increase compared with 2013.

Source:

http://www.akp.gov.kh/?p=70664

Olympia Plaza to rise on $60M investment

27 October 2015

Local conglomerate Overseas Cambodia Investment Corporation (OCIC) will invest $60 million in the construction of Olympia Plaza, a seven-storey shopping mall being built inside the company’s mixed-use Olympia City project in central Phnom Penh. Base rents for prime real estate in Phnom Penh range from $10 to $22 per square metre per month. Rents for smaller spaces can run up to 10 times higher.

Source:

http://www.phnompenhpost.com/business/olympia-plaza-rise-60m-investment

Port IPO road show kicks off

20 October 2015

On course to become the third listed company on Cambodia’s stock exchange, Phnom Penh Autonomous Port (PPAP) kicked off a road show for its initial public offering (IPO) yesterday to prospective investors. One reason for this interest is a more rational valuation backed by solid fundamentals. Both PPWSA and Grand Twins currently trade at well below their offer prices – a sign that their IPOs may have been overvalued.

Source:

http://www.phnompenhpost.com/business/port-ipo-road-show-kicks

New deal resumes rice exports to China

20 October 2015

Cambodia inked a new deal last week to export 100,000 tons of rice to China. The new rice quota, which will begin in early 2016. The deal comes six months after the Ministry of Commerce expressed interest in April to double its rice shipments to China from 100,000 tons to 200,000 tons.

Source:

http://www.phnompenhpost.com/business/new-deal-resumes-rice-exports-china

Malaysia must work through external shocks

30 September 2015

 

Malaysia must always be prepared for external shocks that are beyond its control and maintain the forward momentum to stay on track to becoming a high-income nation by 2020. The current volatile economic situation being faced by us in Malaysia and the rest of the world is a case in point. 

Source:

http://www.nationmultimedia.com/business/Malaysia-must-work-through-external-shocks-30269806.html

Quality control gives Kampot pepper more punch

30 September 2015

Producers of Kampot pepper have positioned the spice as a high-end product and are working to add value to the internationally recognized brand by ensuring that only the highest quality peppercorns make it to market. Prices had increased significantly after producers gained access to wider and more diversified markets as a result.  

Source:

http://www.phnompenhpost.com/business/quality-control-gives-kampot-pepper-more-punch

ZTE goes for No 5 in Thai smartphone market

21 September 2015

CHINESE smartphone manufacturer ZTE aims to be one of the top five brands in Thailand next year after launching its Axon series. Thailand is the third market to get ZTE's first global flagship model, following the US and China. ZTE introduced its own smartphone brand in October.

Source:

http://www.nationmultimedia.com/business/ZTE-goes-for-No-5-in-Thai-smartphone-market-30269744.html

Extractive industries seek gold standard

29 September 2015

Extractive Industries Transparency Initiative is an international standard for disclosure and transparency in the management of revenues from natural resources. The government has announced a raft of reforms aimed at good governance in the management of Cambodia’s natural resources. 

Source:

http://www.phnompenhpost.com/business/extractive-industries-seek-gold-standard