PwC Slapped with Record US$62.2 Million Fine and Six-Month Ban Over Evergrande Audit Failures
PwC Zhong Tian, the China arm of the global accounting giant, has been fined a record US$62.2 million and banned from auditing for six months for its failure to identify financial misstatements in China Evergrande Group’s accounts between 2018 and 2020. The penalties, the most severe imposed on an audit firm in China, are part […]
Thailand Proposes Tourism Program with Cambodia: “6 Countries, 1 Goal”
Thailand has proposed to Cambodia the establishment of a tourism initiative called “6 Countries, 1 Goal” to enhance tourism collaboration within the ASEAN region. This proposal was discussed during a meeting on October 21, 2024, between Mr Dusit Menapan, an adviser to the Thai Foreign Minister, and HE Huot Hak, Cambodia’s Minister of Tourism. The […]
The Ministry is collaborating with the private sector to establish a joint tourist port that will enhance transportation services in Sihanoukville
HE Deputy Prime Minister Say Sam Al, who chairs the Sihanoukville Provincial Government Working Group, expressed motivation to create a joint port with the involvement of tourism port business owners. This initiative aims to support the tourism and transportation sectors in Preah Sihanouk Province. He made these remarks during a meeting with tourism port business […]
Cambodian Gov’t to Cease Border Infrastructure Fund Donations by 31 October After Raising Over US$ 26Mil
The Cambodian government has announced that it will stop accepting donations for its Border Infrastructure Fund after raising over USD 26.33 million from nearly 700,000 donors to support the construction of a border ring road. The funding effort, which aims to enhance border infrastructure and strengthen national development, will officially conclude on 31 October 2024, […]
While China controls most of the real estate market, Japan continues to dominate ASEAN’s major economies
Though growing rapidly, Chinese foreign direct investment (FDI) in Southeast Asia remains more focused on tertiary industries like finance, construction, and real estate, and is particularly prominent in less-developed economies such as Cambodia, Laos, and Myanmar. According to a recent study by Guanie Lim and Chengwei Xu, China’s FDI in these sectors may complement, rather […]
Australia and Cambodia Unveil Advanced Food Quality Testing Service to Boost Agro-Food Safety
Australia, in collaboration with the Institut Pasteur du Cambodge, has officially launched a cutting-edge food quality testing laboratory in Cambodia, aiming to enhance food safety and market competitiveness for the country’s agro-food sector, according to a press release from the Australian Embassy on 16 October 2024. The new facility, which adheres to ISO standards for […]