Monthly Archives: November 2012
Multinational consumer goods company Unilever opened their new, ‘green’, headquarters in Phnom Penh’s Khan 7 Makara district on November 12, indicating a trend in purpose-built office buildings in Cambodia. Multinational firm Archetype was contracted to design the headquarters within Unilever’s color and programming guidelines, and Unilever also went out to local tender, according to Maks
Canadia’s Bank’s futuristic $100 million Riviera project on Koh Pich Island will begin construction early in 2013, according to a company spokesman. Riviera project manager Chen Hok said that two 28-storey buildings and three buildings of 38 storeys will be built in early 2013, while they are working with their partners to aid the construction.
Japanese Investment in Cambodia is steadily increasing as a result of sharply rising wages in China and other Southeast Asian nations. But experts warned this week that for sustained investment growth and to avoid driving Japanese companies to other attractive investment destinations such as Burma the government must address the country’s skilled labor shortage and
Phnom Penh – Cambodia’s stock market is set for a revival early next year when initial public offerings are expected by at least four local companies, ending a drought for a bourse that has hosted just one listing since its trading debut in April. State-owned Telecom Cambodia and Sihanoukville Autonomous Port are likely to list
Benefits from ‘black gold’ Revenue from Cambodian oil fields could provide a big boost to development, if it’s done right
If Cambodia’s oil and gas sector is well managed, and transparent, it could provide the country a golden opportunity for investment, development and poverty reduction, said independent economist Chan Sophal, who spoke at a recent gathering looking at the economies of oil-producing countries. Chan Sophal said crucial areas such as human resource development, agricultural production
Local company VLK Royal Tourism Group has embarked on a joint venture with a Thai partner to build OC Hotel, a four-star boutique hotel in Sihanoukville. The venture was prompted by rising demand as well as increasing tourist numbers to the coastal area off the back of its listing on the Paris-based Most Beautiful Bays
Back in 2007 and 2008, Phnom Penh was positively abuzz with the sound of drills, hammers and cranes. Construction sites were found all over the city and it seemed that every day new projects were being announced in the media—a skyscraper here, a retail development there. But then came the global financial crisis and beginning
For many years, Phnom Penh’s villas have represented the most attractive and obvious options for both commercial and residential use in the city, but experts say the number of villas available is on the decline. The stock of villas is decreasing, due to the demolition and redevelopment of plots to make way for new real
Press Release No. 12/382 October 5, 2012 An International Monetary Fund (IMF) mission from Washington, D.C., headed by Olaf Unteroberdoerster, visited Cambodia from September 25 to October 5, 2012 to conduct the annual Article IV staff discussions.1 During the visit, the mission assessed macroeconomic developments and held policy discussions with ministers and senior officials of
Maruhan Japan Bank yesterday became the first commercial bank in Cambodia to make a direct equity investment into a microfinance institution by becoming Sathapana’s majority shareholder, with a 95.1 per cent stake. Financial details were not disclosed. The shareholders who sold out to Maruhan were FMO, the international development bank of the Netherlands; Developing World
Construction investment rises sharply Investment in construction in the Kingdom during the first nine months of this year rose 83.6 per cent, according to data from Ministry of Land Management Urban Planning and Construction last week. The data showed that during the first nine months of this year the ministry approved 1,357 construction projects involving
On 24th Sept. 2012, H.E governor KEP Chuk Tema allowed Mr. Yajima, President of Aeon Mall to participate in a discussion at Phnom Penh Capital Hall. In the meeting, the Aeon Mall company president expressed his intention to build an asphalt road, 913m long, along the west river bank of Diamond Island, located in Tonle
Cambodia Airports estimates the number of passengers entering via Cambodia’s two international airports will increase by an average 8.8 per cent in 2013. That prediction is 1.2 per cent lower than the 2012 projection of a 10 per cent increase. The lower forecast is due to the uncertainty of the global situation, especially the US
Hun Sen announces new airport Prime Minister Hun Sen requisitioned 768 hectares of land on Saturday that will be used to build an international airport in Kampong Chhnang after 2025. During presiding over a land title distribution ceremony in Kampong Chhnang province, the prime minister announced the expansion of the airport. “I have previously informed
This new serviced apartment near Russian Market is now available for occupation, the apartment is fully furnished with the following services: Cleaning Laundry service Internet Cable TV Garbage collection Parking The apartments range from 60 sqm to 110 sqm with private balcony, the lease available from 6 months.
Cambodia’s government has approved a controversial hydroelectric dam on a tributary of the Mekong River. The joint venture involves Cambodian, Chinese and Vietnamese investment of $781m (£488m) and is due to be completed within five years. The project in northern Stung Treng province is known as Lower Sesan 2. Environmental campaigners say the dam will
In Vietnam, many owners of condominiums in building complexes in Hanoi have been involved in lengthy disputes with the management over disagreements involving service charges. The Ministry of Construction in Vietnam has now had to issue a guide code, setting maximum levels for the service charges. In the case of condominium service charges, after calculating
Onyx Hospitality Group is looking to expand its portfolio to the "CLMV" countries of Cambodia, Myanmar, Laos and Vietnam, as well as to Malaysia, as it positions itself to reap the benefits of upcoming Asean economic integration.
The Thailand-based hotel group, whose goal is to become one of Asia’s leading hospitality management chains, also aims to add another 40 properties over the next six years to its current portfolio of 34 hotels and serviced residences. “Following the great advantages presented by the Asean Economic Community, which comes into effect in 2015, the
PHNOM PENH, Oct. 24 (Xinhua) — Three international airlines are scheduled to launch their direct flights to Cambodia in the near future, according to a report of Cambodia Airports, the developer and operator of the country’s international airports, released on Wednesday. The new airlines are Condor Air of Germany, Qatar Airways and Lao Central Airlines.
The private company HOdo Group Co Ltd, a textile and garment company in Wuxi, Jiangsu province, is looking to expand its presence in Sihanoukville, a province in southern Cambodia, in an attempt to diversify its business. Zhou Haijiang, president of the company, said it has made hefty investments since 2007 to establish the Sihanoukville Special