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 […]
Private Sector Prioritises 03 Key Measures to Boost Cambodia’s Automotive and Electronics Industry
Cambodia’s private sector has identified three pivotal measures from a list of 20 priorities to drive the development of the nation’s automotive and electronics industry. This decision emerged from the second meeting of the Advisory Council for the Development of the Automotive and Electronics Sector, organised by the Council for the Development of Cambodia (CDC) […]
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’s Trade Volume with RCEP Surges to Nearly $23 Billion in 8-Month Period, Up 17%
Cambodia’s trade relations with the Regional Comprehensive Economic Partnership (RCEP) witnessed substantial growth in the first eight months of 2024, reaching an impressive USD 22.92 billion, a 17.2% increase compared to the USD 19.55 billion recorded during the same period last year. This spike in trade highlights Cambodia’s deepening economic integration with RCEP member countries, […]