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 […]
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 […]
VSIP Reports 146% Surge in H1 Profits Amid Expanding Industrial Park Portfolio
Vietnam-Singapore Industrial Park J.V. Co., Ltd (VSIP), Vietnam’s leading industrial park developer, reported a significant 146% increase in net profit, reaching USD 43.84 million in the first half of this year, driven by robust growth in its industrial park operations. This performance boosted the company’s return on equity (ROE) to 6.61%, up from 3.13% in […]
Cambodia’s First Regional Nursery Nears 20% Completion, Pioneering Green Initiatives in Tbong Khmum
Cambodia’s first regional nursery, located in Preah Theat commune, Ou Raing Ov district, Tbong Khmum province, has reached 20% completion, marking significant progress in the country’s ambitious reforestation efforts. The update came during an inspection visit by HE Dr Eang Sophalleth, Minister of Environment, on 8 October 2024. Set across more than 3 hectares, this […]
Cambodia-ASEAN Trade Surpasses USD10 Billion in Eight Months, Achieving Over 11% Growth
Cambodia’s trade volume with ASEAN nations soared past USD10 billion in the first eight months of 2024, reflecting a remarkable growth of more than 11% compared to the same period last year, as highlighted in a report by the General Department of Customs and Excise, released by the Ministry of Information on 27 September 2024. […]
Cambodia Earns Over USD33 Million from Angkor, Koh Ker, and Boat Ride Ticket Sales in 9 Months
In nine months of 2024, Cambodia generated a remarkable USD33,284,233 from ticket sales for Angkor, Koh Ker, and boat rides, reflecting the growing influx of international tourism. Of this, USD32,522,730 was collected from 699,850 foreign tourists purchasing tickets to visit Angkor, marking a 30.32% increase compared to the same period last year, according to a […]