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