Developer puts condo project The Bay on hold as supply glut looms

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VietStock FI English 3 week(s) ago

Developer puts condo project The Bay on hold as supply glut looms

The Singaporean developer behind The Bay, a $500 million mixed-use real estate project on the capital’s Chroy Changvar peninsula, has announced it is putting the residential phase of the project on hold due to unfavourable market conditions – a move that could herald the first major casualty of a looming real estate bubble, property analysts said yesterday.

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Prakas on registration of certification marks

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VietStock FI English 3 week(s) ago

The Ministry of Commerce yesterday released a prakas on the procedure to register certification marks, which help consumers to verify the quality and standard of goods and services.

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PM weighs in on rice lending

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VietStock FI English 6 day(s) ago

PM weighs in on rice lending

Rice millers said yesterday they welcomed the prime minister’s announcement that the government would make over $20 million in funds available shortly to support cash-strapped millers and prop up falling paddy prices.

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Flag of convenience scheme retired

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VietStock FI English 3 week(s) ago

Flag of convenience scheme retired

The days of cocaine smuggling, illegal fishing and human trafficking using ships bearing the Cambodian flag appear to have come to an end as government officials claim that, as of today, all foreign-owned ships operating through Cambodia’s “flag of convenience” scheme must be stripped of their designation, and the world’s ports should no longer grant them access.

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Creature comforts in demand

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VietStock FI English 1 week(s) ago

Creature comforts in demand

Rising incomes and more flexible payment options are driving an increase in consumer spending on home appliances even as overall sales growth slows, according to market researchers, who found that Cambodians with rising expectations are buying bigger modern appliances for their homes.

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Cambodian ‘ghost’ plane to be auctioned

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VietStock FI English 1 week(s) ago

Vietnam plans to auction off an abandoned Boeing 727-200 aircraft that belongs to the now-defunct Cambodian commercial carrier Royal Khmer Airlines in order to recoup nearly 10 years of parking fees it has racked up at Hanoi’s Noi Bai International Airport, according to Vietnamese media.

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Palm farmers eye a sweet deal

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VietStock FI English 1 week(s) ago

Palm farmers eye a sweet deal

Palm sugar producers in Kampong Speu province say they are ready to scale up and meet demand as global consumer goods giant Unilever looks to source palm sugar for its products from the Cambodian market.

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GTI pins fall in Q2 profits on rising costs

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VietStock FI English 3 week(s) ago

GTI pins fall in Q2 profits on rising costs

Taiwanese-owned garment manufacturer Grand Twins International (GTI) blamed its second-quarter decline in profits, which fell by 45 per cent compared to the same financial period last year, on the rising cost of labour and raw material imports.

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Oxley remains upbeat on real estate projects

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VietStock FI English 3 week(s) ago

Oxley remains upbeat on real estate projects

Just days since a Singaporean developer announced it had shelved The Bay, its $500 million mixed-use development, citing marketing conditions and an oversupply of condominium units, another Singaporean developer stood behind its large-scale property developments in Phnom Penh, claiming it was satisfied with sales and would proceed with plans to expand its portfolio.

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No sign of relief for rice industry

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VietStock FI English 1 week(s) ago

No sign of relief for rice industry

As the harvest season of Cambodia’s most important crop kicks off, a crisis is looming as both rice farmers and millers face crippling capital shortages and a promised industry lifeline has yet to materialise.

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Letter to the editor: ‘Real estate is a cyclical market‘

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VietStock FI English 2 week(s) ago

Marc Townsend, managing director of CBRE Vietnam and Cambodia, is optimistic Phnom Penh’s supply and demand fundamentals will eventually re-balance, as he tells Post Property:

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Lenders come out of the dark

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VietStock FI English 2 week(s) ago

More than a year into a government-backed campaign to clamp down on unlicensed lenders, nearly 130 small lenders operating under the radar have come into the fold, officials said yesterday.

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Credit growth starts to cool off

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VietStock FI English 2 week(s) ago

Credit growth starts to cool off

New data released by Cambodia’s independent credit reporting agency indicate a significant slowdown in the rate of lending during the second quarter of the year, a sign that banking industry experts claim is due to a tightening of lending criteria and less demand from the struggling agricultural sector.

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Phnom Penh's NagaWorld casino targeted in audit

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VietStock FI English 3 week(s) ago

Phnom Penh's NagaWorld casino targeted in audit

The government is conducting an audit of NagaWorld in Phnom Penh to assess its tax liabilities on non-gaming operations after finding “discrepancies” last year that prompted the first-ever government probe of the landmark casino and entertainment complex’s finances.

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Port officials chart course for maritime trade growth

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VietStock FI English 3 week(s) ago

Port officials chart course for maritime trade growth

Port officials from ASEAN member states gathered in Phnom Penh yesterday to discuss ways of improving the region’s cargo port system and further standardising maritime trade procedures, a Cambodian port official said yesterday

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