Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Business

Business

The labour market in Cambodia is changing, with an increase in available sales positions and a boost in hiring in the hospitality sector during the third quarter of this year, according to a report released yesterday by online caree

Thu, 16 November 2017

Grand Twins sees profit up despite revenue drop

Taiwanese-owned garment manufacturer Grand Twins International (GTI) posted a slight 2 percent decrease in total revenue for the third quarter of this year, while net profit increased by 23 percent compared to the same period last y

Thu, 16 November 2017

Siem Reap resort selected to host travel trade show

Sokha Siem Reap Resort and Convention Center has been approved as the official venue to host the first Cambodian Travel Mart, a three-day travel and trade show run by SlickBooth, a jointly organised company between Ministry of Touri

A woman receives money from a finance officer at a Phnom Penh branch of Prasac Microfinance Institution.
Thu, 16 November 2017

MFI lenders hedge safer bets after limit on rate of interest

The number of borrowers from microfinance institutions (MFIs) decreased by 5 percent during the third quarter of this year compared to the same period last year, a trend that industry insiders claim is due to operators attempting to

A woman conducts business at Prasac Microfinance Institution, the country’s largest MFI, in Phnom Penh.
Wed, 15 November 2017

Microfinance lenders see the amount of borrowers decrease in Q3

The number of borrowers from microfinance institutions (MFIs) decreased by 5 percent during the third quarter of this year compared to the same period last year, a trend that industry insiders claim is due to operators attempting to

Smart Axiata CEO Thomas Hundt speaks at an event yesterday in Phnom Penh.
Wed, 15 November 2017

First three winners of Smart Axiata fund announced

The first three recipients of funding from the Smart Axiata Digital Innovation Fund (SADIF), a $5 million venture capital fund committed to digital service companies and startups, were announced yesterday, while Smart also welcomed

Wed, 15 November 2017

Angkor Gold ends deal with miner Blue River

Canadian mining firm Angkor Gold Corp has terminated its earn-in exploration agreement with Vancouver-based junior mining firm Blue River Resources Ltd, putting an end to the latter’s drilling on Angkor’s gold- and copper-rich Banlu

Wed, 15 November 2017

NBC brings in $500K at latest liquidity auction

The National Bank of Cambodia yesterday held its 14th liquidity-providing collateralised operation, making 20 billion riel ($4.5 million) available to financial institutions in an auction in which repurchase agreements, or repos, we

A shopper views a local e-commerce Facebook page in Phnom Penh.
Wed, 15 November 2017

E-shops get creative with Facebook

Despite the contentious rollout of Facebook’s Explore feed that shifts public posts away from private newsfeeds and into a hard-to-find cha

Tellers conduct business at a microfinance institution in Phnom Penh.
Wed, 15 November 2017

Government reduces tax load on MFIs receiving money from abroad

The Ministry of Economy and Finance (MEF) recently decided to shrink the tax burden for local microfinance institutions (MFIs) by lowering withholding tax on interest from loans acquired from abroad from 14 to 10 percent, a move that the government claims will keep the massive sector sustainable. This is the first inducement the government has offered the sector since the sudden imposition of an 18 percent cap on annual interest rates effective as of April 1, a drastic cut from the prevailing 20 to 30 percent rates offered primarily on small loans. The interest rate cap was widely seen as a populist measure taken by the National Bank of Cambodia (NBC) ahead of the commune elections earlier this year, and one that had analysts fearful that it could cause a string of bankruptcies or see small lending dry up. According to the MEF’s new prakas, signed by Finance Minister Aun Porn Moniroth on October 27 and...