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Monthly Archives: February 2012

Naga World profits Double to $98 Million

NagaCorp, which owns Phnom Penh’s only licensed casino, announced on Wednesday that net profits at the company had more than doubled in 2011 and that plans are in store to expand its operations in the country. Financial results filed with the Hong Kong Stock Exchange show that NagaCorp made a net profit of $92 million

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Increase in Special Economic Zone Occupancy

CBRE in the news:  Owen Willaims a Surveyor at CBRE has produced this months monthly ‘Marketview’ report, this month focusing on the Industrial sector.  The report has been used a the basis for the following article in the Property section of the  Phnom Penh Post: The total occupancy rates in Phnom Penh’s Special Economic Zones (SEZ) have reached 50 percent in 2011, . The report stated

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Ratchaburi Electricity Generating Holding establishes presence in Cambodia

Ratchaburi Electricity Generating Holding has completed the acquisition of 50 per cent of ordinary shares of KK Power Co, marking its first foray into Cambodia. The investment of US$500,000 (Bt15.3 million) was completed on Tuesday 21st February,2012.  KK Power is a developer of power plants in Cambodia. In a statement released yesterday, Ratch CEO Noppol Milinthanggoon

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Bank of Tokyo opens Phnom Penh office in Phnom Penh Tower

Japan’s second-largest bank, Bank of Tokyo-Mitsubishi UFJ, officially opened a representative office in Phnom Penh Tower (a building managed by CBRE) on Friday the 17th February.  The office is intended to serve as an information centre for potential investors and it is hoped that more Japanese companies will be attracted to engaging in business enterprises within the Kingdom

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Total Approved Investment Jumps 159%

The total approved investment in Cambodia has jumped approximately 159 percent from 2010 to 2011 from $2.7 billion to US$7.021 billion , official data from the Council of the Development of Cambodia (CDC) showed. The tourism industry and agricultural sectors saw dramatic increases of 1,993.57 per cent and 203.48 per cent respectively, the data showed. It showed total investment

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Hun Sen Seeks $500M More in Chinese Loans

Phnom Penh Post, 15th February reported that just days after the government signed off on a new strategy aimed at limiting the level of publish debte, Prime Minister Hun Sen announced that the Cambodian Government would apply to the Export-Import Bank of China for $500 million in additional loans for seven new infrastructure projects. The announcement comes

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Japanese bank tests Kingdom’s waters

CBRE were out to support the opening of Japan’s Sumitomo Mitsui Banking Corporation (SMBC) on the 14th February, 2012.  SMBC has opened a representative office in Phnom Penh Tower, a building managed by CBRE, who among excellencies and other guests of notoriety welcomed the prestigious bank into the building and were all pleased to support the latest Japanese bid

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Premier Pushes Skyscrapers

The Phnom Penh Post reported on Friday the 10th of February, 21012, that Prime Minister Hun Sen has promised an accolade to the builder of Cambodia’s next sky scraper.  Premier Hun Sen downplayed contention surrounding disputes on the construction of tall buildings near the Kingdom’s monuments and commented at the opening of the new Ministry of Land Management, Urban

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