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