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ខ្មែរ Economy and Finance
Apsara Field’s Oil Production Lower Than Expectation, Affecting Firm’s Restructuring Plans
- 1 April 2021
The oil production from five wells in Cambodia’s Apsara Field is lower than expected, providing less revenue and affecting the firm’s restructuring plan, according to a KrisEnergy announcement on 31 March. KrisEnergy said in the announcement that it is evaluating and revising plans to make sure oil production hits the target. The Apsara oil field started production from a single well, A-01D,...
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Construction & Property Weekly Video News (27 March 2021)
- 27 March 2021
<div class="youtube"> https://www.youtube.com/watch?v=SX6CA48j0yE </div> This week content (27 March 2021): #1 Naga Corp’s US$350-million Resort in Siem Reap province dismissed [Read more] #2 Gov’t Asks Real Estate Developers to Ease Clients’ Financial Burden Amid Pandemic [Read more] #3 GDT Launches Property Tax App [Read more] #4 314km Cambodia-Vietnam Border Road in...
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Gov’t Asks Real Estate Developers to Ease Clients’ Financial Burden Amid Pandemic
- 23 March 2021
The Cambodian government yesterday called on all real estate developers in Cambodia to adjust their payment terms and help ease the financial burden of their buyers if needed, as the recent surge in community outbreak has affected many people. The move came after the National Bank of Cambodia (NBC) and the Ministry of Economy and Finance (MEF) organised a meeting to review and discuss the chall...
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GDT Launches Property Tax App & Instruction Video
- 19 March 2021
<div class="youtube"> https://www.youtube.com/watch?v=uKrtNXd2B9s </div> The General Department of Taxation (GDT) has recently launched a property tax application called ‘GDT Taxpayer App’ to ease tax payment and help maintain social distance during the pandemic. According to a GDT announcement on 11 March, the app will allow property taxpayers to check information on registered ...
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COVID-19 Crisis Proves Strongest Developers, Says Analyst
- 16 March 2021
As of the beginning of 2021, the real estate market in Cambodia remains under pressure from the COVID-19 crisis, especially given the recent surge in community transmissions. Real estate analysts, on the other hand, view this long-period pressure as a reflection of which project developers have the strongest position in the market. Managing Director of CBRE Cambodia Ann Sothida said that during...
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Pros and Cons of Buying a Foreclosed Property
- 13 March 2021
Most investors are reluctant to buy foreclosed property as they do not want to deal with complicated court procedures despite the low price. However, buying a foreclosed property is not always complicated if you know how to analyze the property and follow the procedure well. A foreclosed property is a property that the original owner used as collateral to secure the loan but was later forced to...
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Cambodia Should Simplify Institutional Red Tape for Effective Post-Pandemic Recovery, Says Analyst
- 11 March 2021
To ensure a robust recovery from the COVID-19 crisis, Cambodia may need some institutional reforms. and reducing investment red tape should be the first step according to an international analyst. Strong political and social stability have been the selling points attracting more investment to Cambodia in the last two decades. However, fixing the complexity and uncertainty in legal frameworks an...
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NagaCorp Sees Over 80% Y-O-Y Profit Drop Amid Pandemic
- 9 March 2021
NagaCorp has posted a net profit of US$102.3 million for its 2020 financial year, an 80% drop compared to the amount earned in 2019, mainly due to the April-July closure in response to the COVID-19 pandemic. According to their annual report released on 08 March, the total revenue of the firm in 2020 was recorded at US$878.7 million, also down by 49.9% from US$1.76 billion in the previous year. ...
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Overseas Investors Eye Hanoi Office Market
- 6 March 2021
The strong performance of the dynamic Hanoi office market is generating increasing interest among international investors who see great future potential in the Vietnamese capital’s corporate space. The low number of vacant spaces together with high demand, Vietnam’s impressive record in controlling the COVID-19 pandemic, its strong economy and international interest, particularly from China and...
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What Is Homeowners Insurance? How Does It Work?
- 5 March 2021
Homeowners insurance is a form of property insurance that covers losses and damages to an individual's house as well as other assets within. It also provides liability coverage against accidents in the home or on the property, according to Investopedia. A homeowner’s insurance policy in most of the case covers four kinds of incidents on the insured property including interior damage, exterior d...
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