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ខ្មែរ Business and Market
Singapore Doubles Property Tax for Foreign Buyers in Effort to Cool Market
- 30 April 2023
In a move to address concerns over the affordability of housing for locals and maintain its position as a competitive financial hub, Singapore has raised taxes on property purchases. The Ministry of Finance, National Development Ministry, and Monetary Authority of Singapore have jointly announced that stamp duties for foreign buyers will increase from 30% to 60%. While Singaporeans and permanen...
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OCIC and BIG C Join Forces to Bring Top-Notch Shopping Experience to Chroy Changvar Satellite City
- 25 April 2023
OCIC, one of Cambodia's most prominent developers, has recently signed a memorandum of understanding with BIG C Shopping Mall from Thailand to bring the top brand to the new Chroy Changvar satellite city, situated north of Phnom Penh. According to a press release by OCIC on 22 April 2023, the BIG C shopping mall project will be built on a 2.7-hectare site near the Neang Temmcha roundabout on th...
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US$6 Million Bran Oil Refinery Ready for Sale in Battambang
- 18 April 2023
A $6 million investment in a medium-sized bran oil refinery in Battambang province is set to go on sale after the Khmer New Year, according to RFI on 17 April 2023. The Cambodian jasmine rice refinery can refine more than 10 tons of cooking oil using about 50 to 100 tons of crude bran. Chhem Chandara, President of Medium Enterprise of Cambodia Rice Olive Company Limited, said that the bran oil ...
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Siam Makro Plc to Invest Over US$800 Million in Retail and Wholesale Business Expansion
- 16 April 2023
Siam Makro Plc, the operator of Makro cash & carry stores and Lotus hypermarkets, has announced plans to invest 25.3-27.5 billion baht (over US$800 million) this year to expand its retail and wholesale businesses. According to Saowaluck Thithapant, Group Chief Executive of Siam Makro, " This move is in anticipation of a positive impact on the wholesale and retail businesses, as well as hote...
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Cambodia’s Iron and Steel Imports Jump 11% to US$93 Million in Q1 2023
- 10 April 2023
Cambodia's imports of iron and steel amounted to US$93 million in the first quarter of 2023, up 11% from the same period last year. The two products were included in the list of top 20 commodities imported in March 2023, according to the General Department of Customs and Excise, The import of iron and steel accounted for 1.6% of the total import value of US$34.2 billion, indicating that the con...
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AEON 3 Mall worth US$290 million officially opened
- 7 April 2023
AEON (Cambodia) Co., Ltd. has opened its third shopping mall, AEON Mall Meanchey, located on Samdech Techo Blvd. in Phnom Penh. The grand opening ceremony was held on 7 April 2023, with HE Dr HUN Manet in attendance. After four months of trial operation, the mall is officially open to the public. The AEON 3 shopping mall project is the largest of the three AEON shopping malls in Cambodia, with ...
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Giant PTT To Invest US$900M More on Local and Overseas Business
- 30 March 2023
Thailand PTT Oil and Retail Business Pcl, a leading oil and gas retailer, has revealed plans to invest $900 million this year to expand its local and overseas business. The announcement was made by Chief Executive Officer Disathat Panyarachun, as reported by Bangkok Post on 28 March 2023. According to Disathat, approximately 45% of the budget will be allocated to expanding the company's Cafe Am...
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Prey Veng Province Generates US$ 5 Million from Construction Stone Business in 5 Years
- 24 March 2023
The collection of tax revenue from all types of construction stone businesses in the province has amounted to approximately US$ 5 million in the past five years. The revenue was collected from all kinds of sand and stone processing businesses, totaling around US$ 4.57 million from 2018 to 2022, with US$ 2.19 million collected in 2022 alone, according to HE Chea Somethy, Governor of Prey Veng Provi...
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KOJIMA HOLDINGS Plans to Build Cassava-Based-Bio Ethanol Plant in Cambodia
- 21 March 2023
KOJIMA HOLDINGS Co., Ltd, a Japanese-based company, has expressed interest in investing in the production of ethanol made from cassava using modern technology and equipment in Cambodia. This move is aimed at reducing carbon dioxide emissions in the country. The company has submitted a proposal for the "Cassava Based-Bio Ethanol Production Plant in Cambodia" to the Ministry of Agriculture, Fores...
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Royal Group and Keppel Energy sign deal to export 1k Mw renewable energy to Singapore via submarine power line
- 17 March 2023
Cambodia's Royal Group Power Company Ltd (RGP) and Singapore's Keppel Energy Pte Ltd (KE) have signed a power purchase agreement for the export of renewable energy generated through a submarine power line from Cambodia to Singapore. The deal allows Cambodia to export 1000 Mw of renewable energy to Singapore via submarine high-voltage transmission, and the two companies will jointly study the feasi...
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