Tag Archives: Cambodia economy

Association warns of $720m rice loan need

CAMBODIA’S Small and Medium Industries Association warned that domestic rice millers require US$720 million in loans this harvest season, or they risk being out-competed by foreign merchants. “We cannot compete with buyers from Thailand and Vietnam to buy grain if local rice mills can’t receive more capital from the government or private banks,” said the … Continue reading

Cambodia’s national budget for 2011 approved by NA

Last week, Cambodia’s National Assembly passed US$2.4 billion national budget for 2011 by focusing on improving education, health, agriculture, irrigation systems and infrastructure development. It increases about 19 percent, compared to 2010 budget, only US$1.98 billion. The 2011 budget, totaling $2.4 billion, allocates military and security spending of $304 million, including $190 million for the … Continue reading

Government issues warning over taxes

THE Ministry of Economy and Finance has called for companies, particularly in the import and export business, to catch up on their taxes, or risk closure. Promulgated yesterday, the announcement said “measures will be taken for those that are late to pay, such as property seizure, closing bank accounts, stop import and export transactions, and … Continue reading

CampuBank securities gained a securities licence

The Securities and Exchange Commission of Cambodia (SECC) issued the securities company licence to CampuBank Securities Plc, which is the subsidiary owned by Cambodian Public Bank plc, to act on securities underwriting business, securities dealing business, securities brokerage business and investment advisory business in Cambodia. Underwriting is to provide advice on the issue of securities … Continue reading

Cambodia to export milled rice to Chinese market

Cambodia’s Prime Minister Hun Sen delivered a speech at a graduation ceremony at Phone Penh’s International Institute of Cambodia’s University of Technology that both Cambodian and Chinese government would sign a deal for rice export. The premier also said that the rice agreement would help cement Cambodia’s trading ties with the world’s second-largest economy. Chinese … Continue reading

Microfinance loan up 5.46 percent in 3th quarter

Cambodian Microfinance Association (CMA) released its figures that during the third quarter of this year, Cambodia’s microfinance institutions (MFIs), which included 21 MFIs and small loans from ACLEDA Bank, increased 5.46 percent to 448.1 million, following a 2.7 percent drop in outstanding loans in the second quarter. According to CMA’s data, non-performing loans (NPLs) declined … Continue reading