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Monthly Archives: July 2012

CBRE FINDS HONG KONG-CBD WORLD’S MOST EXPENSIVE OFFICE MARKET; LONDON-WEST END FOLLOWS; TOKYO THIRD

Six of the Top Ten ‘Most Expensive’ Markets in Asia-Pacific as Emerging Economies Attract Occupiers * * * Occupancy Costs Increase 3.6% Worldwide From Year Ago  Los Angeles — July, 2012 — Asia-Pacific holds increasing sway in the global commercial real estate market, as Hong Kong-CBD was the world’s most expensive office market and the

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Prudential granted approval by ministry

Prudential Corporation Asia yesterday received “in-principle” approval from the Ministry of Economy and Finance to establish a foreign-owned life insurance operation in the country, an official statement from the company said. The announcement comes after Canadian life insurance giant Manulife on Thursday made public plans for a new head office in Phnom Penh and intentions

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Port sees growth as SEZ starts production

Revenue at Sihanoukville Autonomous Port increased 13.6 per cent year on year between January and June, port officials confirmed yesterday. As the state-owned enterprise gears up for listing on the Cambodia Securities Exchange, the neighbouring Sihanoukville Special Economic Zone will play an increasingly important role in boosting throughput, insiders said. The port – Cambodia’s largest

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Small growth for water utility, PPWSA

Phnom Penh Water Supply Authority saw 8.2 per cent revenue growth during the first quarter of the year, a welcomed disclosure after the retirement of the state-owned firm’s general director was announced last week. The firm took in US$7,725,500 between January and March, up from $7,140,473 during the same period last year, according to a

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Piaggio to return to Cambodia with legendary Vespa scooters

Europe’s largest manufacturer of two-wheeled vehicles, Italy’s Piaggio, will return to Cambodia in September, being absent since the Khmer Rouge takeover. Vespa Cambodia Co Ltd, part of Narith Long’s Narita group, signed an exclusive distribution agreement with Piaggio last month to distribute its Piaggio scooters, including the world famous and iconic Vespa brand. A new

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Chevron report completed

Chevron has completed an environmental assessment for oil production in Cambodia’s Block A off shore oil field, a step insiders called important for the proposed extraction that appeared to stall early this year. The Environment Impact Assessment (EIA), completed in March and obtained yesterday by the Post, was the first to be seen publicly after

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Investment uncertain in Myanmar

Thais and foreign investors should prepare for uncertainty in Myanmar over the next couple of years, although some positive outcomes can be expected from the ongoing reforms, say Myanmar and international analysts. Legislation in the works includes a new banking bill that will allow full branches of foreign banks in the next year or two,

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Philips shows growing interest in Cambodia

Electronics giant Philips demonstrated its new Air Fryer at the Attwood Business Center yesterday, illustrating Philips’s growing interest in the Cambodian market, company representatives said. Philips is pushing its high-tech business products, and is aiming at providing quality in a market flooded with inferior quality products, said Joyce Ong, Philips sales manager for the Asia

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Tourism in Kingdom flourishes

The number of international visitors to Cambodia continued to rise between January and May this year compared to the same time last year, data received from the Ministry of Tourism indicated. The number of international tourists visiting Cambodia increased 26.3 percent to 1,505,734 visitors in the first five months of the year compared to 1,191,757

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