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Logo of Phnom Penh Post newspaper Phnom Penh Post - Khon Kaen shares fall

Khon Kaen shares fall

KHON Kaen Sugar Industry Pcl, which plans to open its first Cambodian sugar mill next week, saw its stock fall the most in four weeks Monday in Bangkokas sugar prices droppped. The Thai firm fell 2 percent to 14.6 baht (US$0.44) at the close after sugar prices on Friday fell for the third time last week in New York. Khon Kaen is due to open a $91 million sugar mill in Koh Kong Monday but last week warned that it would only run at a third of capacity – processing about 2,000 tonnes – when the facility goes online, due a lack of suitable labour. Khon Kaen President Chamroon Chinthammit told Prime Minister Hun Sen of his firm’s problems in Cambodia during a meeting last week in Phnom Penh. The plant is 30 percent owned by Taiwanese company Vewong Corp. Philip Securities of Singapore warned in a June report that Khon Kaen’s operations in the Kingdom were likely to remain below the breakeven level during 2010, citing the labour problem.

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