Reposted from AltAsset
Emerging markets firm Leopard Capital has successfully exited its entire investment in Cambodian mineral water company Kulara Water to the company’s founding shareholder.
The transaction harvested an undisclosed profit for Leopard Cambodia Fund, the firm said. It provided Kulara with venture financing and operational support, enabling Kulara to complete its factory construction and refine its business plan. More…
Reposted from The Phnom Penh Post
Booyoung Group, a South Korean conglomerate, has started ground breaking on the construction of a more than $1.1 billion new town in the heart of Phnom Penh. The industrial player said that it will be the largest construction project this year.
The huge amount of capital investment of the company will be used for building commercial buildings, residential buildings, a sports centre, and a school, according to Booyoung. More…
Reposted from The Phnom Penh Post
In a likely bid to tighten its monopoly on domestic air services, Cambodia Angkor Air (CAA) has scheduled to increase its number of flights from July, when a new airline, Cambodia Airlines, is expected to break into its home ground.
According to CAA’s website, direct flights will take off between Phnom Penh and Siem Reap five times a day, up from three to four times currently. Also, flights from Sihanoukville to Siem Reap and to Phnom Penh will launch daily, up from three times a week, although certain legs still involve a stopover at another airport. More…
Reposted from Asia Times Online
By Michelle Tolson
PHNOM PENH – Cambodia’s export business is in the process of changing due to shifts in manufacturing in Asia. A business publication in the country has reported unexpected growth in the “machinery and transport equipment” sector and speculated it was as “probably bicycles”. But when Cambodia jumped into the top 10 exporters of bicycles to the European Union in 2012, it prompted the European Bicycle Manufacturers’ Association (EBMA) to investigate. More…
Reposted from eTravel Blackboard Asia
Investors are turning their attention to emerging markets in South East Asia again, on the back of robust hotel transaction volumes in Asia which hit US$620 million in Q1 2013, up 190 percent from the same period in 2012, according to Jones Lang LaSalle.
“Rising visitor arrivals, robust trading performance and positive market dynamics have put emerging South East Asian markets such as Vietnam, Cambodia and Myanmar back into the investment spotlight,” Tom Oakden, Executive Vice President, Investment Sales for Jones Lang LaSalle’s Hotels & Hospitality Group revealed at an industry event co-hosted with Ashurst.
Airlift has been the big game changer for many markets in South East Asia and upgraded infrastructure has enhanced the ease of travel and improved links to the rest of Asia. This is evident in the double digit tourism growth witnessed in Vietnam (15 percent), Cambodia (25 percent) and Myanmar (55 percent) in 2012, when compared with 2011. More…
Reposted from The Phnom Penh Post
Cambodia’s first dairy factory is be-ing planned for Phnom Penh, as one of the owners, a Vietnam-based dairy company, hopes to tap strong local demand for its products.
The 2.7-hectare factory, in the Phnom Penh Special Economic Zone (PPSEZ), would produce condensed milk, yoghurt and UHT milk, which is milk sterilised at ultra-high temperatures, Manoj Nutchanart, general manager of BPC Trading, the local distributor of Vietnam’s Vinamilk, said. More…
Reposted from The Phnom Penh Post
Acleda Bank, the Kingdom’s largest, signed a memorandum of understanding (MoU) on Monday with UnionPay International Co Ltd, a Chinese-based payment services company.
In Channy, president and CEO of Acleda Bank, said this will provide a broader and more convenient service to his customers.
He said: “UnionPay International, which is one of the world leaders in payment services and is the number one payment and settlement institution in China, has selected us to be a strategic partner in payment services for our customers and Cambodian citizens with world-class payment services through Acleda Bank branches and offices, and especially through the 962 points of sale as well as merchants of Acleda Bank throughout Cambodia.” More…
Reposted from The Phnom Penh Post
Cambodian export values increased more than 21 per cent in the first quarter of this year compared with the same period last year, and officials said the rise was a positive sign for the Kingdom’s economic growth.
According to the Ministry of Commerce’s export data obtained by the Post yesterday, exports reached over $1.65 billion in the first three-month period this year, up from the goods exported during the same period last year, valued at $1.36 billion. More…
Reposted from The Nation
By WATCHARAPONG THONGRUNG
Siam Cement Group (SCG) plans to invest US$1.5 billion (more than Bt43 billion) in cement and power plants and logistics facilities in the region, especially Indonesia, Myanmar and Cambodia.
The group yesterday announced the restructuring of its business with the merger of its cement, building-materials and distribution arms into a new unit called SCG Cement-Building Materials.
SCG president and chief executive officer Kan Trakulhoon said the move was in line with the group’s strategy to expand its cement and building-material business into the region to cash in on the coming Asean Economic Community, as well as to promote its investment flexibility.
The regional investment includes a $400-million cement plant in Indonesia with annual capacity of 1.8 million tonnes. Construction is scheduled for completion by the end of 2015. More…
