Donaco rises on stellar performance of Poipet casino

30 November 2016

Donaco, casino complex in Poipet on the Cambodian-Thai border, contributed nearly 84 percent of the group’s A$143.4 million (US$107 million) in revenue during the 2016 fiscal year ending June 30, and 71 percent of its A$78.7 million after-tax profits.

Source:

http://www.phnompenhpost.com/business/donaco-rises-stellar-performance-poipet-casino

China, Cambodia to Share Credit Reports

25 November 2016

The central banks of Cambodia and China are in talks to share customers’ credit reports in an effort to boost bilateral private investment. China is a major investor in Cambodia, having given $2 billion in grants, loans and direct assistance since 1990. Cambodia and China are targeting bilateral trade of $5 billion for 2017, up from $3.75 billion in 2014.

Source:

http://www.khmertimeskh.com/news/32409/china--cambodia----to-share-credit-reports/

China-Japan $2.3 Billion Property Deal

25 November 2016

China’s Anbang Insurance Group Co is in talks to buy as much as $2.3 billion in Japanese residential property assets from Blackstone Group including properties in Japan’s largest cities – Tokyo, Nagoya and Osaka – that Blackstone bought in 2014 from GE’s property unit for 190 billion yen.

Source:

http://www.khmertimeskh.com/news/32410/china-japan--2-3-billion-property-deal/

Korean Air to Stop Flights

25 November 2016

Korean Air, South Korea’s largest airline, announced yesterday that due to low passenger demand it would suspend all Incheon-Siem Reap direct flights from February next year. In the first nine months of the year, some 264,000 South Koreans visited Cambodia, a fall of 11 percent compared with the same period last year.

Source:

http://www.khmertimeskh.com/news/32405/korean-air-to-stop-flights/

Chinese to join in $1.5B satellite city project

24 November 2016

Cambodian conglomerate LYP Group is preparing to ink a $1.5 billion deal with China’s largest private investment group to develop a subdivision within a 2,000-hectare satellite city the group is building north of the capital. The project will begin next year inside Garden City.  

Source:

http://www.phnompenhpost.com/business/chinese-join-15b-satellite-city-project

Kingdom’s insurance sector small yet vibrant

24 November 2016

Gross premiums in Cambodia grew by 38.4 percent in 2015, while total insurance premiums in ASEAN as a whole grew by 2.9 percent during the same period. The data showed that insurance market is still growing in the Kingdom with gross written premiums reaching $84 million in 2015, compared to $61 million in 2014.

Source:

http://www.phnompenhpost.com/business/kingdoms-insurance-sector-small-yet-vibrant

Minebea readies third factory

24 November 2016

Japanese electronics manufacturer Minebea expects to complete construction of its third factory in Cambodia by the end of the year. The expansion of this factory is to manufacture micro actuators and small motors at two existing factories inside the Phnom Penh Special Economic Zone, brings its total investment to $100 million since 2011.

Source:

http://www.phnompenhpost.com/business/minebea-readies-third-factory

Derivatives Market Gets New Broker

24 November 2016

Golden FX Link (Cambodia), a central counterparty or clearing house for derivative trading, yesterday signed an agreement to recognize FUGI Investment Excellence as a broker. The agreement between Golden FX Link and FUGI will build the confidence of investors and the public aiming to take part in derivative trading.

Source:

http://www.khmertimeskh.com/news/32344/derivatives-market-gets-new-broker/

Fertilizer Factory to Open Next Year

23 November 2016

To meet local demand for affordable fertilizer, a $2 million factory is currently being built in Phnom Penh and will operate early next year. This is a joint venture between Bayon Heritage Holding Group and Japanese-based Nangoku Kosan Co. In the first three months of the year, Cambodia imported more than 160,000 tons of agricultural fertilizers.  

Source:

http://www.khmertimeskh.com/news/32284/fertilizer-factory-to-open-next-year/

Border Triangle Gets Summit Boost

22 November 2016

Prime ministers of Cambodia, Laos and Vietnam will today address the challenges, opportunities and ways their countries’ triangle area can develop for 2010 to 2020. The meeting was held at Siem Ream city in Cambodia.

Source:

http://www.khmertimeskh.com/news/32211/border-triangle-gets-summit-boost/

Chinese Float Cement Factory Plan

22 November 2016

During a meeting between Chinese-owned Cambodia Capital Mineral Resources Co., and the Ministry of Mines and Energy last week, company president Li Xiao Ming floated the idea of building a cement processing factory to boost supply for the Kingdom’s busy construction industry. By next year, the ministry estimates that demand for cement in Cambodia will be five million tons annually.

Source:

http://www.khmertimeskh.com/news/32208/chinese-float-cement-factory-plan/

Steel firm mulls factory in SSEZ

21 November 2016

A Chinese steel company is in talks with Sihanoukville Special Economic Zone (SSEZ) to set up an industrial facility in the zone. The steel products would reduce Cambodia’s reliance on imports, of which 70 percent come from Vietnam and the remainder from China and Thailand. Cambodia imported 265,408 tonnes of steel last year, down from 412,833 tonnes in 2014.

Source:

http://www.phnompenhpost.com/business/steel-firm-mulls-factory-ssez

Sihanouk Zone Eyes 300 Factories Expansion

18 November 2016

The Sihanouk Special Economic Zone (SSEZ), the biggest such zone in the country, is planning to open 300 more factories by 2020, providing up to 100,000 extra jobs. The factories in the zone mainly produce textiles for the European Union and the United States.

Source:

http://www.khmertimeskh.com/news/32099/sihanouk-zone-eyes-300-factories-expansion/

Chinese, Thai Tourist Numbers Up

17 November 2016

The number of tourist arrivals in Cambodia from China rose about 12.5 percent, up to 577,283, Thai visitors rose 18.9 percent, up to 255,647, in the first nine months of this year. The ministry of tourism strategizes to meet its goal of drawing five million international tourists a year by 2016 and 7.5 million a year by 2020.

Source:

http://www.khmertimeskh.com/news/32047/chinese--thai-tourist-numbers-up/

With expansion, Pizza Co seeks bigger slice of market

17 November 2016

The Pizza Company will launch another three stores by the end of this year, two new locations in Phnom Penh, one in Poipet by the end of December, and in Siem Reap is looking to be completed by early 2017.

Source:

http://www.phnompenhpost.com/business/expansion-pizza-co-seeks-bigger-slice-market

New airline readies for takeoff in early 2017

11 November 2016

The Cambodian-registered airline, managed by China’s Yunnan Jingcheng Group, expects to launch flight services in February 2017 with about 160 to 180 staff. JC International Airlines planned to operate a fleet of six aircraft, serving domestic routes as well as cities in Malaysia, Singapore and China.

Source:

http://www.phnompenhpost.com/business/new-airline-readies-take-early-2017

HOdo Group Reveals Plan to Invest in Rubber Plantation in Cambodia

11 November 2016

A China’s Jiangsu province-based HOdo Group, the company that co-operates Special Economic Zone (SSEZ) in Preah Sihanouk province, has revealed its plan to invest in rubber plantation in Cambodia to supply its process of tire producing factory. The industrial zone is now employing 16,000 workers and 88 of the 103 registered companies are in operation.

Source:

http://www.akp.gov.kh/?p=90888

Factory for Nissan cars, parts proposed

10 November 2016

A Malaysian automotive company, Tan Chong Motor Holdings Berhad (TCMH Group), has requested approval to establish a factory in Cambodia to assemble Nissan automobiles and manufacture spare parts for the vehicles. TCMH Group is the franchise holder of Nissan vehicles in Malaysia and the IndoChina region.

Source:

http://www.phnompenhpost.com/business/factory-nissan-cars-parts-proposed

Markets Suffer Trump Slump

10 November 2016

World stock markets sank yesterday after maverick Republican Donald Trump surprisingly won the US election. In Asia, Tokyo stocks collapsed 5.4 percent and Hong fell 2.2 percent.

Source:

http://www.khmertimeskh.com/news/31881/markets-suffer-trump-slump/

UK Bilateral Trade Unchanged

10 November 2016

The United Kingdom’s bilateral trade dealing with Cambodia will remain unchanged. The UK is presently one of the largest export markets for Cambodia. Bilateral trade between Cambodia and Britain rose from about $750 million in 2013 to $800 million in 2014.

Source:

http://www.khmertimeskh.com/news/31879/uk-bilateral-trade-unchanged/

Dramatic Rise in Exports to Japan

10 November 2016

The Kingdom’s total exports to Japan increased more than 20 percent in the first nine months of the year to $930 million compared with about $730 million over the same period last year; meanwhile, total imports from Japan decreased slightly in the first half of the year by just 0.03 percent to $209.4 million compared to $209.5 million over the same period last year. 

Source:

http://www.khmertimeskh.com/news/31878/dramatic-rise-in-exports-to-japan/

Coffee chain begins to stir

10 November 2016

Thai coffee and food chain Black Canyon is expanding its operations in Cambodia by opening its newest fourth branch in the PTT petrol station in Skuon, 75 kilometres north of the capital. Three existing branches are located in Phnom Penh in Aeon Mall, Paragon Mall and the Chbar Ampov PTT station.

Source:

http://www.phnompenhpost.com/business/coffee-chain-begins-stir

Industrial park aims for SME segment

08 November, 2016

WorldBridge International Group will sink $25 million into developing an industrial park with 4 hectares of land in Kandal province. The industrial park aims to be a centralised hub for the manufacture and production of raw materials, including agriculture and food products, as well as providing packaging services and logistics support.

Source:

http://www.phnompenhpost.com/business/industrial-park-aims-sme-segment

China Firms Eye Vietnam

08 November, 2016

Chinese investments inflow into Vietnam in 2015 doubled from a year earlier to $744 million and 80 percent of that was in the second half of the year. In the first nine months of this year, investments from China quadrupled to $1 billion compared with the same period in 2015.

Source:

http://www.khmertimeskh.com/news/31758/china-firms-eye-vietnam/

E-Commerce Law a Realty Soon

07 November, 2016

Cambodia’s first electronic commerce or e-commerce law could be reviewed and passed by the National Assembly as early as the middle of next year. The draft e-commerce law has 12 chapters are divided into 90 articles. It covers details of credit and debit card usage to the use of online signatures to purchase goods over the internet.

Source:

http://www.khmertimeskh.com/news/31709/e-commerce-law-a-realty-soon/

Local MFI relaunched after South Korean buyout

07 November, 2016

The Seoul-based Welcome Financial Group (WFG) announced on Friday that it had acquired the full shareholding of Green Central Microfinance Ltd. Green Central received its operating licence in 2008 and has five branches in and around Phnom Penh.

Source:

http://www.phnompenhpost.com/business/local-mfi-relaunched-after-south-korean-buyout

Melco Crown revenue jumps but CEO says too early to celebrate Macau comeback

04 November, 2016

Casino operator Melco Crown Entertainment (MCE) revenue rising 22% to $1.15b in the three months ending September 30, while operating income shot up 220% to $108.9m and net income nearly doubled to $62m.

Source:

http://calvinayre.com/2016/11/04/casino/melco-crown-revenue-jumps/

M’sia Eyes Green Energy Investment

04 November, 2016

A dozen Malaysian companies involved in green energy yesterday opened a showroom in Phnom Penh to display their products, ranging from solar panels to energy efficient LED lighting. At present Cambodia lacks any large-scale solar projects.

Source:

http://www.khmertimeskh.com/news/31656/m---sia-eyes-green-energy-investment/

KrisEnergy ups stake to unclog offshore Block A oil

04 November, 2016

Singapore-listed KrisEnergy Ltd has upped its stake in the Block A offshore oil field to 95 percent. The share transfer gives KrisEnergy full ownership of Block A, which covers 4,709 square kilometres in the Gulf of Thailand and contains the Apsara field.

Source:

http://www.phnompenhpost.com/business/krisenergy-ups-stake-unclog-offshore-block-oil

MoU to Support S. Korea Investors

03 November, 2016

The Association of Banks in Cambodia (ABC) and the Korea Federation of Banks (KFB) yesterday signed a memorandum of understanding (MoU) to expand and strengthen cooperation. At the end of 2015, loans and deposits from the banking sector climbed to more than $11.4 billion.

Source:

http://www.khmertimeskh.com/news/31603/mou-to-support-s--korea-investors/

Cambodia-Australia Affordable Houses Venture

03 November, 2016

Cam Top Property Group, Cambodia, and Australia-based Cate Group have jointly invested $25 million in an affordable housing project for low middle- and middle-income Cambodians. The price will be range of $20,000 to $30,000 per house depending upon house styles. The project will be located in Phnom Penh’s Por Senchey and Dangkor districts.

Source:

http://www.khmertimeskh.com/news/31605/cambodia-australia-affordable-houses-venture/

China’s Rich Eye Property Abroad

01 November, 2016

China’s wealthy targeted having one third of their wealth overseas. The most popular destination for that investment was expected to be the United States, in particular the West Coast, followed by Britain, Canada, Australia and Singapore.

Source:

http://www.khmertimeskh.com/news/31465/china---s-rich-eye-property-abroad/

Australia’s Qantas Flags Profit Dip

01 November, 2016

Australian flagship carrier Qantas Airways Ltd. warned yesterday that half-year profit could fall nearly six percent. The company said it expected underlying profit before tax of between A$800 million ($607 million) and A$850 million for the six months to December 31, 2016, compared with A$921 million for the same period a year earlier.

Source:

http://www.khmertimeskh.com/news/31466/australia---s-qantas-flags-profit-dip/

Thailand Investment Pledges Double

01 November, 2016

In the January-September period, foreign and Thai firms submitted investment applications worth a combined 369 billion baht ($10.5 billion), up 137 percent from a year earlier. The agency expected overall investment pledges to reach this year’s target of 550 billion baht.

Source:

http://www.khmertimeskh.com/news/31468/thailand-investment-pledges-double/

Airport Audits End With Positive Hopes

01 November, 2016

Two of Cambodia’s three international airports finished 10-day security audits late last week leaving with a positive outcome. Three international airports welcomed more than five million passengers and 53,000 flight movements in the first nine months of 2016, an increase of 6.2 percent and 2.8 percent respectively compared to the same period last year.

Source:

http://www.khmertimeskh.com/news/31471/airport-audits-end-with-positive-hopes/

ANZ Denies Sales Claim

01 November, 2016

ANZ Royal Bank was yesterday forced to deny that it was intending to sell its wealth and retail businesses in Cambodia. ANZ Royal’s outstanding loans ending December last year was $462 million, a slight increase by around two percent from the year before. Total deposits at the bank at declined by four percent to about $845 million.

Source:

http://www.khmertimeskh.com/news/31473/anz-denies-sales-claim/