THE Securities and Exchange Commission of Cambodia (SECC) debated a draft prakas, or edict, on corporate governance for listed companies Wednesday in Phnom Penh, the latest stage in a bid to pass necessary regulations ahead of the planned launch of the stock exchange next year. The government plans to pass the measure before the end of the year. “Public companies that intend to issue securities will have to comply with the regulations defined in the prakas,” Ming Bankosal, director general of the SECC, said Wednesday. According to the draft, corporate boardrooms would have between five and 15 members.
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Smith calls for ‘release’ of Sokha as visit endsAt a press conference to conclude her 11-day visit to Cambodia, UN Special Rapporteur for Human Rights in Cambodia Rhona Smith on Thursday called for treason charges against former opposition leader Kem Sokha to be dropped and for him to be released from “restricted detention”.
PM denies ‘nepotism’ claimsPrime minister Hun Sen denied on Thursday that nepotism was involved in the recent promotions of the children of senior government officials. He said they had been “trained” and were entirely capable of carrying out their duties while being open to “punishment” like anyone else.