Economy and Finance
Construction of Khmer-Thai Stueng Bat International Border Checkpoint 20% Complete
The construction of the US$24 million Stueng Bat-Ban Nong Ian international border checkpoint located nearby the existing Khmer-Thai Poipet checkpoint in Banteay Meanchey province is now 21.05%. This is according to a site inspection by the Minister of Public Works and Transport HE Sun Chanthol on the morning of 30 June. Besides giving an update […]
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China’s Guangzhou City to Build Massive International Quarantine Complex
Guangzhou city in China is planning to build a massive quarantine complex for international travellers and local residents from high-risk areas as local hotels are not suitable to stop the spread of the new Delta variant, report SCMP. Leading respiratory expert Zhong Nanshan brought this up after seeing the high level of transmissibility of the […]
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Koh Kong Casino Century Entertainment Warns of HK$40 million Full-Year Loss
Hong Kong-listed gaming investor Century Entertainment has issued a profit warning on expected losses of at least HK$40 million (US$5 million) for the year ended 31 March 2021, reported IAG. Among other factors, the loss is mainly due to the amortisation made on the intangible assets in relation to the gaming table business, and the […]
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NagaCorp Confirms Lay-Offs, Pay Cuts as Proactive Measures
The operator of NagaWorld integrated resort (IR) NagaCorp has confirmed job lay-offs and pay cuts as “proactive measures” to manage the impact of the COVID-19 pandemic, given that the casino has been closed since early March, according to its report issued yesterday. “We have taken proactive measures to manage the situation. We launched a rationalisation […]
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Cambodia’s Oil Extraction Operator KrisEnergy Unable to Pay Debts, Requests Liquidation
Cambodia’s oil extraction operator KrisEnergy has announced that it is unable to pay its debts based on actual and/or contingent liabilities and will soon proceed to liquidation, according to the firm’s press release on 4 June. KrisEnergy on the same date already submitted a winding-up petition to the Grand Court of the Cayman Islands. Meanwhile, […]
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Construction & Real Estate Sectors Growth Conditional on How Gov’t Contains COVID Outbreak: NBC
Due to the 20 February COVID-19 community outbreak, the growth projection of the construction and real estate sectors remain highly conditional on how the government contains the outbreak and how global and regional economic activities will rebound in the second half of 2021, according to the National Bank of Cambodia (NBC). NBC’s Financial Stability Review […]
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FDI Inflow for Construction & Real Estate Sectors in 2020 Decreases by 10.6%: NBC
Total FDI inflows, mainly to the financial, construction, real estate, and manufacturing sectors, were recorded at US$3.5 billion in 2020, a 1% decline. Among them, FDI to the construction and real estate sectors, which accounts for 17% share of the total FDI, decreased by 10.6%, according to the National Bank of Cambodia (NBC) Financial Stability […]
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Number of Restructured Loans for Construction Sector at Over 20k Accounts in 2020, says NBC
The total number of restructured loans in 2020 was recorded at over 24,000 accounts, of which borrowers from the construction sector ranked third with a total of 20,609 accounts, according to the National Bank of Cambodia (NBC) Financial Stability Review 2020 published on 31 May. The report added that this huge amount of restructured loans […]
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NBC: Credit Growth in Construction & Property Decelerates, Easing Concerns on Overheating Market
Loans to construction and real estate activities in 2020 expanded at a slower rate of only 23%, as the construction boom stalled due to the pandemic. This deceleration of credit growth has eased some concerns on the overheating property market, according to the National Bank of Cambodia (NBC)’s Financial Stability Review 2020 published on 31 […]
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First 300,000 Barrels of Crude Oil Produced in Cambodia Ready to Export this Month
KrisEnergy will make the shipment of the first 300,000 barrels of crude oil produced from the Apsara well offshore Cambodia to international markets within this month, according to the Director-General of Petroleum at the Ministry of Mines and Energy HE Cheap Sour. According to the DG, the total volume of the first shipment might vary […]
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