Real estate jitters prompt government and industry meet

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VietStock FI English 1 week(s) ago

Real estate jitters prompt government and industry meet

The Ministry of Economy and Finance (MEF) has stepped up its communication with the Kingdom’s real estate executives in the wake of growing concern around excess supply of condominiums and sluggish demand, when compared to 2015

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Microfinancer Prasac looking to parter up with Korean giant

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VietStock FI English 1 month(s) ago

Microfinancer Prasac looking to parter up with Korean giant

Woori Bank, South Korea’s second-largest bank in terms of assets, is vying to purchase a 50 per cent stake Cambodia’s largest microfinance institution, Prasac, the company’s CEO confirmed yesterday.

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Sathapana Bank gets $35 million from Taiwan lenders

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VietStock FI English 2 month(s) ago

Sathapana Bank gets $35 million from Taiwan lenders

Facilitated by Taiwan’s First Commercial Bank, seven foreign banks provided $35 million in a syndicated loan to Sathapana Bank Plc, a newly formed Cambodian commercial bank, to expand its existing microfinance operations and broaden its commercial lending portfolio.

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Banking still on a growth path

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VietStock FI English 3 month(s) ago

Banking still on a growth path

Total deposits and loans in Cambodia’s banking sector increased last year, albeit at a slower pace than in 2014, as banks and microlenders continued to expand their activities, a report released yesterday by the central bank showed.

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Thai Boon Roong Twin Tower names new partner

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VietStock FI English 4 month(s) ago

After last week’s ground breaking ceremony for the 133-storey, $3 billion-dollar Thai Boon Roong Twin Tower World Trade Center Project, the development has amassed further support from a Hong Kong-based construction company—albeit one that has experienced a sharp decline in its share price in recent months amid rumours of a sell-off and two banks withdrawing lines of credit.

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Apple ready for showdown on Capitol Hill

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Báo Thanh Niên English 5 month(s) ago

Bloomberg's Tim Higgins updates the latest news on the battle between the FBI and Apple over encryption. He speaks on "Bloomberg Markets."

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Apple turns to Congress in encryption fight

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Báo Thanh Niên English 5 month(s) ago

Apple has moved to draw the U.S. Congress into the discussion over the FBI's request for the company to unlock the iPhone of a shooter in last year's San Bernardino, California terror attack. Bloomberg's Tim Higgins reports on "Bloomberg Markets."

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French bank set to enter Kingdom

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VietStock FI English 5 month(s) ago

French bank set to enter Kingdom

French bank BRED Banque Populaire– part of the second-largest banking group in France– will start commercial operations in Cambodia later this year, marking the first foray for a European bank in the Kingdom since the late 1990s, sources in the banking sector said yesterday.

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Busan’s failure snares Camko bank

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VietStock FI English 5 month(s) ago

Camko Specialized Bank is attempting to sell a 100 per cent stake in the bank to comply with a South Korean court order to dilute the equity stake of its majority stakeholder, which filed for bankruptcy five years ago, bank officials said yesterday.

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Kingdom unfazed by Fed rate hike

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VietStock FI English 7 month(s) ago

Kingdom unfazed by Fed rate hike

A day after the US Federal Reserve increased interest rates, which can potentially impact incoming investments and make debt more costly, experts say the Kingdom’s strong underlying growth will help maintain investments flows and leave the country largely unaffected.

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Credit growth poses economic risk, IMF warns

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VietStock FI English 9 month(s) ago

Credit growth poses economic risk, IMF warns

Rapid credit growth– increasingly financed by bank flows from abroad– poses significant risk to Cambodia’s economy and requires prudential policies to cool lending and reduce exposure, the International Monetary Fund (IMF) warned in a report released yesterday.

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Construction: the most dynamic engine of growth

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VietStock FI English 10 month(s) ago

Construction: the most dynamic engine of growth

While the World Bank projects that Cambodia’s GDP growth will slow to 6.9 per cent this year largely due to the underperformance of rice production, the competitive pricing pressure on the garment industry and a slowdown in tourism, the construction sector continues to boom– and is now the most dynamic driver of GDP growth. Last year, it outpaced garment and footwear for the first time, according The East Asia Pacific Economic Update that was published by the World Bank this...

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Bank deposit insurance proposed for riel security

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VietStock FI English 10 month(s) ago

Bank deposit insurance proposed for riel security

Cambodia has yet to establish a deposit insurance scheme, which means if a bank has a run on deposits or goes belly up, its customers could lose all their savings.

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Watching from the sidelines

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VietStock FI English 12 month(s) ago

Watching from the sidelines

As Chinese markets plunged 8.49 per cent on Monday sending jitters across global indices, industry insiders yesterday were cautious about its potential spillover effects into the Kingdom, suggesting a wait-and-watch approach to its impact on foreign investment, tourism and the construction sector.

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MEF strengthens property data to analyse the development sector

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VietStock FI English 12 month(s) ago

“I confess that the ministry hasn’t been able to control and achieve transparency in the real estate sector, but I can say that this sector has yet to show any signs of trouble,” Ngoun Sokha, secretary of state for the Ministry of Economy and Finance, said during Tuesday’s real estate seminar that was held under the title“Opportunities and Potential Risks in Developing Cambodia’s Property Sector”.

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