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Tomato Specialized Bank makes giant strides in Cambodia

Tomato Specialized Bank (TSB) has had a tumultuous innings in Cambodia. Right from its inception in 2008, the bank has been experiencing a series of poor performances. In 2015, for instance, TSB’s net profit amounted to $78,000 and a high non-performing loan (NPL) ratio of 14.4 percent. However, things have taken a turn for the better for TSB with the introduction of advanced bank operation practices with active loan disbursements.

Inmate drug testing launches

Military police show evidence of a drug-smuggling operation in Trapaing Phlong Prison uncovered last year. Photo supplied

More than 4,000 inmates at Prey Sar prison have been tested for drugs in the week since testing began in what will soon be a nationwide effort, with 23 testing positive for methamphetamine, according to prisons officials. The universal testing initiative comes amid a national war on drugs launched on January 1, and after the exposure last year of drug dealing networks operating out of prisons, and the establishment of a committee tasked with investigating drug trafficking on the inside.

Border casinos poised to fold

Employees operate gaming tables for the online operation of a casino in Bavet in November 2015.

Vietnam's decision to partially lift the long-standing ban that prevented Vietnamese citizens from entering casinos in their own country could spell disaster for gaming resorts in the Cambodian border town of Bavet. A decree issued by the Vietnamese government on Friday allows casinos operating in Vietnam to apply for a three-year trial licence that would allow Vietnamese citizens over the age of 21, and who are able to prove they have a monthly income of at least 10 million dong ($443), to place bets in their gaming hall.

CIA took dim view of Sihanouk

The late King Norodom Sihanouk waves to bystanders on his way to greeting then-Indonesian president Suharto in Phnom Penh in 1997. Afp

Recently declassified CIA documents reveal that the agency had a less than flattering opinion of the late King Norodom Sihanouk, predicting that his vanity and pride would inevitably lead to the dissolution of his partnership with the Khmer People’s National Liberation Front (KPNLF).

“He is still capable of pulling off one of his patented ‘grand gestures’ that could seriously complicate or even totally undermine ASEAN’s current Cambodia strategy,” a 1985 intelligence report reads.

Latest Video

Turkish Embassy calls for closure of Zaman schools

With an attempted coup against the government of President Recep Erdogan quashed only days ago and more than 7,000 alleged conspirators now under arrest, the Turkish ambassador to Cambodia yesterday pressed the govern

CNRP lawmakers beaten

Two opposition lawmakers, Nhay Chamroeun and Kong Sakphea were beaten unconscious during protests in Phnom Penh, as over a thousand protesters descended upon the National Assembly.

Student authors discuss "The Cambodian Economy"

Student authors discuss "The Cambodian Economy"

Students at Phnom Penh's Liger Learning Center have written and published a new book, "The Cambodian Economy".

Tycoon’s murder case rolls on at court

Tycoon Thong Sarath appears at the Phnom Penh court last year.

In a hearing in the murder case against tycoon Thong Sarath and his bodyguards, the Phnom Penh Municipal Court yesterday questioned two witnesses and read out statements from more than 10 witnesses who could not attend the hearing. Sarath is accused of masterminding the murder of tycoon Ung Meng Cheu, who was shot dead in Phnom Penh on the evening of November 22, 2014, when he stepped out of his Lexus.