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about Cambodia [CAMBODIA]...</itunes:subtitle><itunes:owner><itunes:email>noreply@blogger.com</itunes:email></itunes:owner><xhtml:meta content="noindex" name="robots" xmlns:xhtml="http://www.w3.org/1999/xhtml"/><item><title/><link>http://watchcambodia.blogspot.com/2009/08/ep-1-pt-3-sexy-khmer-tv-comedy-upside.html</link><category>Khmer TV comedy "Upside Down"</category><category>KMF Cambodia</category><author>noreply@blogger.com (Hotaro)</author><pubDate>Wed, 19 Aug 2009 21:42:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-5463521929948949727</guid><description>&lt;span style="font-weight:bold;"&gt;ep 1 pt 3 sexy Khmer TV comedy "Upside Down" Cambodia Film&lt;/span&gt;&lt;object width="445" height="364"&gt;&lt;param name="movie" value="http://www.youtube.com/v/ngicKhK5ByI&amp;hl=en&amp;fs=1&amp;color1=0x402061&amp;color2=0x9461ca&amp;border=1"&gt;&lt;/param&gt;&lt;param name="allowFullScreen" value="true"&gt;&lt;/param&gt;&lt;param 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isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-8079987932346627691</guid><description>&lt;h1&gt;Sexy Khmer TV comedy "Upside Down" Cambodia Film&lt;/h1&gt;&lt;object width="445" height="364"&gt;&lt;param name="movie" value="http://www.youtube.com/v/w4HRje3qfp4&amp;hl=en&amp;fs=1&amp;color1=0x402061&amp;color2=0x9461ca&amp;border=1"&gt;&lt;/param&gt;&lt;param name="allowFullScreen" value="true"&gt;&lt;/param&gt;&lt;param name="allowscriptaccess" value="always"&gt;&lt;/param&gt;&lt;embed src="http://www.youtube.com/v/w4HRje3qfp4&amp;hl=en&amp;fs=1&amp;color1=0x402061&amp;color2=0x9461ca&amp;border=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="445" height="364"&gt;&lt;/embed&gt;&lt;/object&gt;</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>[PIMEX] Phnom Penh Post: Imports inspector ends contract</title><link>http://watchcambodia.blogspot.com/2009/05/pimex-phnom-penh-post-imports-inspector.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Wed, 20 May 2009 23:55:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-8728817528028431513</guid><description>&lt;!--~-|**|PrettyHtmlStartT|**|-~--&gt; &lt;div id="ygrp-mlmsg" style="width:655px; position:relative;"&gt; &lt;div id="ygrp-msg" style="width: 470px; margin:0; padding:0 25px 0 0; float:left; z-index:1;"&gt; &lt;!--~-|**|PrettyHtmlEndT|**|-~--&gt;      &lt;div id="ygrp-text" &gt;             &lt;!--~-|**|PrettyHtmlStart|**|-~--&gt;             &lt;br&gt;&lt;br&gt;       &lt;!--~-|**|PrettyHtmlEnd|**|-~--&gt;       &lt;p&gt;     Imports inspector ends contract  	  Print &lt;br&gt; &amp;lt;&lt;a href="http://www.phnompenhpost.com/index2.php?option=com_content&amp;amp;task=view&amp;amp;id=25949&amp;amp;pop=1&amp;amp;page=0&amp;amp;Itemid=53"&gt;http://www.phnompen&lt;wbr&gt;hpost.com/&lt;wbr&gt;index2.php?&lt;wbr&gt;option=com_&lt;wbr&gt;content&amp;amp;task=&lt;wbr&gt;view&amp;amp;id=25949&amp;amp;&lt;wbr&gt;pop=1&amp;amp;page=&lt;wbr&gt;0&amp;amp;Itemid=&lt;wbr&gt;53&lt;/a&gt;&amp;gt; &lt;br&gt; 	E-mail &lt;br&gt; &amp;lt;&lt;a href="http://www.phnompenhpost.com/index2.php?option=com_content&amp;amp;task=emailform&amp;amp;id=25949&amp;amp;itemid=53"&gt;http://www.phnompen&lt;wbr&gt;hpost.com/&lt;wbr&gt;index2.php?&lt;wbr&gt;option=com_&lt;wbr&gt;content&amp;amp;task=&lt;wbr&gt;emailform&amp;amp;&lt;wbr&gt;id=25949&amp;amp;&lt;wbr&gt;itemid=53&lt;/a&gt;&amp;gt; &lt;br&gt; &lt;br&gt; Written by Kay Kimsong   &lt;br&gt; Wednesday, 20 May 2009&lt;br&gt; &lt;br&gt; *French company BIVAC set to leave Cambodia after finishing customs &lt;br&gt; operations in the Kingdom at the end of April, as Government says it has &lt;br&gt; acquired necessary expertise.*&lt;br&gt; 090520_14.jpg&lt;br&gt; Photo by: *TRACEY SHELTON *&lt;br&gt; A lorry moves containers at Phnom Penh's dry port in this file photo. &lt;br&gt; French company BIVAC has finished its contract with Cambodia. The &lt;br&gt; government determined it now has sufficient capacity to undertake &lt;br&gt; pre-shipment inspections. &lt;br&gt; &lt;br&gt; THE government will not renew its contract with BIVAC, the French &lt;br&gt; company contracted in April 2006 to undertake pre-shipment inspections &lt;br&gt; on goods imported from ASEAN nations.&lt;br&gt; &lt;br&gt; Kun Nhem, the Customs and Excise deputy director general, told the Post &lt;br&gt; on Tuesday the government now has qualified staff that can do the job.&lt;br&gt; &lt;br&gt; &amp;quot;The contract is finished and as of May 1 importers should not pay fees &lt;br&gt; to BIVAC,&amp;quot; he said. &amp;quot;The contract ended officially on April 30. We are &lt;br&gt; now qualified to check the original prices of goods in the country of &lt;br&gt; origin for all shipments.&amp;quot;&lt;br&gt; &lt;br&gt; Pre-shipment inspection is the practice of employing specialised private &lt;br&gt; firms to check the price, quantity and quality of goods ordered from &lt;br&gt; another country.&lt;br&gt; &lt;br&gt; Kun Nhem said the Kingdom had outsourced its pre-shipment inspection &lt;br&gt; role longer than any other ASEAN nation inspector, and noted that &lt;br&gt; import-tax revenues for May were unchanged compared with those months &lt;br&gt; for which BIVAC was responsible.&lt;br&gt; &lt;br&gt; &amp;quot;Having BIVAC is the same as not having BIVAC,&amp;quot; he concluded.&lt;br&gt; &lt;br&gt; Kun Nhem said that under the BIVAC system, importers paid a fee to the &lt;br&gt; company for the service, and BIVAC's agents in the nations from where &lt;br&gt; goods were shipped would check the shipment.&lt;br&gt; &lt;br&gt; &amp;quot;Now without BIVAC the importers are happy because they don't have to &lt;br&gt; incur this fee,&amp;quot; he said, adding that the service added to the price &lt;br&gt; paid by consumers.&lt;br&gt; &lt;br&gt; An office worker at BIVAC's Cambodia office confirmed that the firm &lt;br&gt; ceased pre-inspection work on May 1.&lt;br&gt; &lt;br&gt; ------------&lt;wbr&gt;---------&lt;wbr&gt;---------&lt;wbr&gt;---------&lt;wbr&gt;---------&lt;wbr&gt;---------&lt;wbr&gt;-&lt;br&gt; &lt;br&gt; Without BIVAC the importers are happy ... they don't have to incur&lt;br&gt;     this fee. &lt;br&gt; &lt;br&gt; ------------&lt;wbr&gt;---------&lt;wbr&gt;---------&lt;wbr&gt;---------&lt;wbr&gt;---------&lt;wbr&gt;---------&lt;wbr&gt;-&lt;br&gt; &lt;br&gt; She said BIVAC charged importers US$250 for a 40-foot container, and &lt;br&gt; $200 for a 20-foot container, with a maximum charge of $500. She &lt;br&gt; referred all other questions to her managers, but the Post was unable to &lt;br&gt; contact them.&lt;br&gt; &lt;br&gt; Chan Sophal, the president of the Cambodian Economic Association, said &lt;br&gt; cutting out BIVAC would benefit importers, and agreed that local &lt;br&gt; officials were technically able to take over the PSI role.&lt;br&gt; &lt;br&gt; &amp;quot;Whether they have the will to do it is another matter,&amp;quot; he said.&lt;br&gt; &lt;br&gt; Chan Sophal said the government should take other measures to ensure &lt;br&gt; that revenue from customs fees ended up in the Treasury. He said low &lt;br&gt; salaries paid to Customs officials resulted in some keeping revenues for &lt;br&gt; themselves.&lt;br&gt; &lt;br&gt; &amp;quot;With the economic downturn, the government should look at cutting &lt;br&gt; spending - such as spending on companies like BIVAC,&amp;quot; he said. &amp;quot;And &lt;br&gt; corrupt customs officials take more money for their own pockets than &lt;br&gt; they hand to the nation.&amp;quot;&lt;br&gt; &lt;br&gt; He said officials should stop taking advantage of their positions and &lt;br&gt; should realise the revenue is needed to develop the country in a time of &lt;br&gt; economic crisis.&lt;br&gt; &lt;br&gt; Tyre importer Kong Nuon, the chairman of the Kong Nuon Import and Export &lt;br&gt; Company, said the termination of BIVAC's contract had made the import &lt;br&gt; process easier and cheaper.&lt;br&gt; &lt;br&gt; &lt;/p&gt;        &lt;/div&gt;        &lt;!--~-|**|PrettyHtmlStart|**|-~--&gt;     &lt;div width="1" style="color: white; clear: both;"&gt;__._,_.___&lt;/div&gt; 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The &lt;br&gt;government determined it now has sufficient capacity to undertake &lt;br&gt;pre-shipment inspections. &lt;p&gt;THE government will not renew its contract with BIVAC, the French &lt;br&gt;company contracted in April 2006 to undertake pre-shipment inspections &lt;br&gt;on goods imported from ASEAN nations.&lt;p&gt;Kun Nhem, the Customs and Excise deputy director general, told the Post &lt;br&gt;on Tuesday the government now has qualified staff that can do the job.&lt;p&gt;&amp;quot;The contract is finished and as of May 1 importers should not pay fees &lt;br&gt;to BIVAC,&amp;quot; he said. &amp;quot;The contract ended officially on April 30. We are &lt;br&gt;now qualified to check the original prices of goods in the country of &lt;br&gt;origin for all shipments.&amp;quot;&lt;p&gt;Pre-shipment inspection is the practice of employing specialised private &lt;br&gt;firms to check the price, quantity and quality of goods ordered from &lt;br&gt;another country.&lt;p&gt;Kun Nhem said the Kingdom had outsourced its pre-shipment inspection &lt;br&gt;role longer than any other ASEAN nation inspector, and noted that &lt;br&gt;import-tax revenues for May were unchanged compared with those months &lt;br&gt;for which BIVAC was responsible.&lt;p&gt;&amp;quot;Having BIVAC is the same as not having BIVAC,&amp;quot; he concluded.&lt;p&gt;Kun Nhem said that under the BIVAC system, importers paid a fee to the &lt;br&gt;company for the service, and BIVAC&amp;#39;s agents in the nations from where &lt;br&gt;goods were shipped would check the shipment.&lt;p&gt;&amp;quot;Now without BIVAC the importers are happy because they don&amp;#39;t have to &lt;br&gt;incur this fee,&amp;quot; he said, adding that the service added to the price &lt;br&gt;paid by consumers.&lt;p&gt;An office worker at BIVAC&amp;#39;s Cambodia office confirmed that the firm &lt;br&gt;ceased pre-inspection work on May 1.&lt;p&gt;------------------------------------------------------------------------&lt;p&gt;      Without BIVAC the importers are happy ... they don&amp;#39;t have to incur&lt;br&gt;    this fee. &lt;p&gt;------------------------------------------------------------------------&lt;p&gt;She said BIVAC charged importers US$250 for a 40-foot container, and &lt;br&gt;$200 for a 20-foot container, with a maximum charge of $500. She &lt;br&gt;referred all other questions to her managers, but the Post was unable to &lt;br&gt;contact them.&lt;p&gt;Chan Sophal, the president of the Cambodian Economic Association, said &lt;br&gt;cutting out BIVAC would benefit importers, and agreed that local &lt;br&gt;officials were technically able to take over the PSI role.&lt;p&gt;&amp;quot;Whether they have the will to do it is another matter,&amp;quot; he said.&lt;p&gt;Chan Sophal said the government should take other measures to ensure &lt;br&gt;that revenue from customs fees ended up in the Treasury. He said low &lt;br&gt;salaries paid to Customs officials resulted in some keeping revenues for &lt;br&gt;themselves.&lt;p&gt;&amp;quot;With the economic downturn, the government should look at cutting &lt;br&gt;spending - such as spending on companies like BIVAC,&amp;quot; he said. &amp;quot;And &lt;br&gt;corrupt customs officials take more money for their own pockets than &lt;br&gt;they hand to the nation.&amp;quot;&lt;p&gt;He said officials should stop taking advantage of their positions and &lt;br&gt;should realise the revenue is needed to develop the country in a time of &lt;br&gt;economic crisis.&lt;p&gt;Tyre importer Kong Nuon, the chairman of the Kong Nuon Import and Export &lt;br&gt;Company, said the termination of BIVAC&amp;#39;s contract had made the import &lt;br&gt;process easier and cheaper.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>[Thailand] Rice exports hit by fall in prices, demand amid soaring supply</title><link>http://watchcambodia.blogspot.com/2009/05/thailand-rice-exports-hit-by-fall-in.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Wed, 20 May 2009 23:49:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-4556013947492173139</guid><description>May 20, 2009&lt;br&gt;By Petchanet Pratruangkrai&lt;br&gt;The Nation&lt;p&gt;Thai rice exports will suffer this year, with prices set to decline into &lt;br&gt;next year from increased supply in the world market and bearish demand, &lt;br&gt;a seminar heard yesterday.&lt;p&gt;Moreover, Thai rice trading will face more problems due to insufficient &lt;br&gt;development of both crop production and irrigation. Several recent &lt;br&gt;administrations have been unclear on development of a sustainable rice &lt;br&gt;policy.&lt;p&gt;The crop is a major export for the Kingdom.&lt;p&gt;At a seminar yesterday hosted by Thai Rice magazine entitled &amp;quot;Rice Price &lt;br&gt;Trends: Reduced Risk for Coping with the Global Crisis&amp;quot;, traders, &lt;br&gt;government officials and economists said the price was set to drop &lt;br&gt;slightly into next year, due mainly to a combination of lower demand and &lt;br&gt;greater supply.&lt;p&gt;Thai Rice Exporters Association president Chookiat Ophaswongse said more &lt;br&gt;rice exporters had entered the market this year.&lt;p&gt;&amp;quot;Burma and Cambodia have started exporting large amounts of low-grade &lt;br&gt;rice for less than US$300 [Bt10,200] per tonne to the world market.&lt;p&gt;&amp;quot;India will soon export up to 3.5 million tonnes of rice from more than &lt;br&gt;20 million tonnes stockpiled this year,&amp;quot; said Chookiat.&lt;p&gt;Greater supply in the world market and bearish demand during the world &lt;br&gt;economic slump will pull down rice prices, he said.&lt;p&gt;Chookiat said the government&amp;#39;s recent decision to sell off large volumes &lt;br&gt;of rice via bidding caused Thai prices to fall.&lt;p&gt;Before the bidding, Thai rice was quoted at $530 a tonne in the world &lt;br&gt;market. Now it is down to $490 a tonne.&lt;p&gt;Last year, India suspended rice exports, because of a domestic shortage &lt;br&gt;problem. Burma exported up to 700,000 tonnes of 25-per-cent white rice &lt;br&gt;in the first four months of the year.&lt;p&gt;Thailand Development Research Institute president Nipon Poapongsakorn &lt;br&gt;told the seminar he, too, believed the rice price would fall gradually &lt;br&gt;until next year.&lt;p&gt;&amp;quot;The world economic slowdown has meant lower demand for rice. Lower oil &lt;br&gt;prices, which affect crop prices, will also ensure the rice price &lt;br&gt;remains unchanged or decreases slightly in the second half of this &lt;br&gt;year,&amp;quot; said Nipon.&lt;p&gt;However, some factors could actually cause a slight increase in the &lt;br&gt;price, such as increased demand in certain markets. These could include &lt;br&gt;major rice importers Indonesia and the Philippines.&lt;p&gt;Commerce Ministry permanent secretary Siripol Yodmuangcharoen said not &lt;br&gt;only India would become an important rice-export rival of the Kingdom, &lt;br&gt;but also Pakistan, which is set to export up to 4 million tonnes this year.&lt;p&gt;Kwanchai Gomez, secretary-general of the Thai Rice Foundation under &lt;br&gt;Royal Patronage, said uncertainty about the rice price would be &lt;br&gt;prolonged as long as development of rice production and quality was delayed.&lt;p&gt;This will also result in a huge cost burden for farmers.&lt;p&gt;She said Thailand&amp;#39;s rice production must be developed to meet a &lt;br&gt;particular quality and yield per rai.&lt;p&gt;&amp;quot;Thai farmers have long suffered from low incomes and little management &lt;br&gt;expertise.&lt;p&gt;&amp;quot;The government must focus on providing knowledge to newer generations, &lt;br&gt;to ensure the development of rice farming, as well as the creation of &lt;br&gt;sustainable incomes to increase the quality of life for rice farmers,&amp;quot; &lt;br&gt;she said.&lt;p&gt;Thai Farmers Association president Prasit Boonchuey said instead of &lt;br&gt;losing more than Bt20 billion in a pledging scheme, the government &lt;br&gt;should consider investing Bt10 billion each year for the sustainable &lt;br&gt;development of rice farming, production and irrigation.&lt;p&gt;He said rice-price volatility was connected to the world market and &lt;br&gt;middlemen.&lt;p&gt;Rice farmers have always experienced unpredictable rice prices, even &lt;br&gt;during the pledging scheme. The government must establish a long-term &lt;br&gt;agenda to ensure long-term sustainability in rice trading and prices, &lt;br&gt;Prasit said.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Asia- more economic troubles ahead</title><link>http://watchcambodia.blogspot.com/2009/05/asia-more-economic-troubles-ahead.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Sun, 10 May 2009 17:49:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-6903530107762607424</guid><description>Sunday May 10, 2009&lt;br&gt;RANDOM THOUGHTS By Neville de Silva&lt;br&gt;The Sunday Times (Sri Langka)&lt;p&gt;Asia which overcame the financial crisis of 1997/98 which started here &lt;br&gt;in Thailand, felt it was better equipped to deal with the current global &lt;br&gt;turmoil that has caused havoc in western economies.&lt;p&gt;Better supervision and regulatory measures over financial institutions, &lt;br&gt;some believed, would cushion this part of the world from the worst &lt;br&gt;features of the meltdown in banking and financial circles in the West &lt;br&gt;where it all started. That, it now seems, was wishful thinking. It does &lt;br&gt;not appear to have taken account of the fact that the financial crisis &lt;br&gt;which began last year came on top of other economic problems which &lt;br&gt;compounded the situation. What it means is that Asia is not out of the &lt;br&gt;woods, not by a long shot and more difficulties lie ahead before it gets &lt;br&gt;better, if it does.&lt;p&gt;That is the impression gathered, listening to a stimulating discussion I &lt;br&gt;sat through the other day at the 65th Session of the Economic and Social &lt;br&gt;Commission for Asia and Pacific (ESCAP), a regional body of the United &lt;br&gt;Nations based in Bangkok. It was a discussion on the financial crisis by &lt;br&gt;a high-level panel that brought together several eminent persons from &lt;br&gt;different disciplines and so provided the breadth of knowledge that an &lt;br&gt;issue of this nature really needs, impinging as it does on every aspect &lt;br&gt;of society and cutting across socio-economic lines. One of the critical &lt;br&gt;factors that do not appear to have been seriously regarded by those who &lt;br&gt;thought that Asia had somehow managed to escape the worst ravages of an &lt;br&gt;economic crisis that has yet to run its course, is the trade &lt;br&gt;relationship between Asia and the western world.&lt;p&gt;Asia&amp;#39;s trade integration with the economies of the west is relatively &lt;br&gt;high- about 50% of the GDP of this region. Then consider this &lt;br&gt;continent&amp;#39;s financial integration with western economies, particularly &lt;br&gt;so with the US, which amounts to 40% of the region&amp;#39;s GDP. Earnings from &lt;br&gt;tourism, remittances by expatriate workers from Sri Lanka, Bangladesh, &lt;br&gt;Philippines and others and Official Development Aid also make up a &lt;br&gt;substantial part of the GDP of several of Asia&amp;#39;s less developed countries.&lt;p&gt;As was pointed out in the course of the discussion, a one percentage &lt;br&gt;point drop in growth in the United States would constitute a 0.6 &lt;br&gt;percentage point decline in Asia&amp;#39;s GDP. As was stated last week the &lt;br&gt;present crisis is different from any that has gone before. It is really &lt;br&gt;a global crisis as it has a much greater impact economically and &lt;br&gt;socially throughout the world than anything previously. It was also &lt;br&gt;stated that this present crisis is likely to be deeper and of a long &lt;br&gt;duration than any in the past. Moreover recovery would be much slower. &lt;br&gt;One reason for this is that the crisis was born at the centre of the &lt;br&gt;system and not on the sidelines and so it is going to be much harder to &lt;br&gt;contain.&lt;p&gt;As I have already said this crisis was preceded by a food and fuel &lt;br&gt;crisis when food prices skyrocketed and fuel prices reached &lt;br&gt;unprecedented levels. Sri Lankan consumers are well aware of the &lt;br&gt;difficulties that faced them during those hard times. True, food and &lt;br&gt;fuel crisis now seems gone and prices have stabilized at lower levels. &lt;br&gt;But who is to say that it may not happen again. It might be recalled &lt;br&gt;that Asian countries came out of the financial turmoil of a decade or &lt;br&gt;more ago by stimulating their export sector. It was an export-led &lt;br&gt;strategy that helped Asia come out of that particular situation. But &lt;br&gt;obviously that strategy cannot save them this time round for the credit &lt;br&gt;crunch in the west and the significant drop in consumer spending &lt;br&gt;especially on imported goods and what might be considered luxuries or &lt;br&gt;non-essentials would not allow Asian countries to depend once more on &lt;br&gt;increased export earnings for economic recovery.&lt;p&gt;The World Trade Organisation predicts that the volume of global trade &lt;br&gt;which rose by 6% in 2007 and 2% last year will fall sharply by 9% this &lt;br&gt;year. If so it would be the biggest drop in 40 years. It is said that in &lt;br&gt;recent months exports declined in many Asian countries as import demand &lt;br&gt;contracted in the industrialized economies. So labour-intensive export &lt;br&gt;industries such as garments and textiles, footwear, toys, gems and &lt;br&gt;jewellery were seriously affected.&lt;p&gt;That drop in exports would affect countries such as Sri Lanka which rely &lt;br&gt;quite heavily on the garment industry for export earnings. If the &lt;br&gt;withdrawal of the GPS Plus trade concession comes on top of this, the &lt;br&gt;country&amp;#39;s import earnings could suffer badly. Sri Lanka is not the only &lt;br&gt;Asian country with labour-intensive industries that face this situation. &lt;br&gt;Bangladesh, Cambodia, China, India, Indonesia and Vietnam are some of &lt;br&gt;the others. That is not all. Growth in Asia is also expected to slowdown &lt;br&gt;perceptibly. Growth which recorded 9% in 2007 will drop to 4-5% this &lt;br&gt;year. The prospects for the coming year are uncertain so that a question &lt;br&gt;mark hangs precariously over 2010 as we move inexorably towards the &lt;br&gt;target date for achieving the Millennium Development Goals.&lt;p&gt;The current prediction is that if one excludes China and India the rest &lt;br&gt;of Asia will show no growth this year. Now here is the crunch. The &lt;br&gt;jobless in Asia rose from 79 million in 2007 to 84 million in 2008. If &lt;br&gt;that increase of 5 million in one year is considered unacceptable, then &lt;br&gt;worse is to follow this year.&lt;p&gt;Asia&amp;#39;s unemployment this year is estimated at 94 million a jump of 10 &lt;br&gt;million in one year. If that is bad news, worse is to come. Due to the &lt;br&gt;current crisis labour in the informal sector such as tourism, &lt;br&gt;construction industry, textiles and garments, small and medium &lt;br&gt;enterprises, trade and retail are not only likely to lose their jobs but &lt;br&gt;their wages are also expected to decline substantially. For those who &lt;br&gt;still fantasize about achieving most of the Millennium Development Goals &lt;br&gt;in the next five or more years, especially with regard to poverty, here &lt;br&gt;is something to ponder.&lt;p&gt;A 100 million people will be pushed into poverty. That is in a region &lt;br&gt;that still has 900 million people living under conditions of extreme &lt;br&gt;poverty. There is more bad news. But I think this is sufficient for one &lt;br&gt;morning.&lt;p&gt;The writer is a serving Sri Lankan diplomat.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Warmest Greetings from 2 in 1 Services (LCRC and LAW)!</title><link>http://watchcambodia.blogspot.com/2009/04/warmest-greetings-from-2-in-1-services.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Sat, 11 Apr 2009 11:11:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-2758653671817476274</guid><description>&lt;p class="mobile-photo"&gt;&lt;a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikTgpBkPkVJK6pn9RlSDEbDqlwCnI0F5L6_3w0ZL9lhep8U0rwCHfZVRYx081H3eQBVPgvZSHLfHgbCzz7mvsCyBAhtQKrEuZnLfvO7W_IBUSsTiR1OqnzzyRCJdm-5FFWctzJjocM9SI/s1600-h/Services+Available-Resized-760208.jpg"&gt;&lt;img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikTgpBkPkVJK6pn9RlSDEbDqlwCnI0F5L6_3w0ZL9lhep8U0rwCHfZVRYx081H3eQBVPgvZSHLfHgbCzz7mvsCyBAhtQKrEuZnLfvO7W_IBUSsTiR1OqnzzyRCJdm-5FFWctzJjocM9SI/s320/Services+Available-Resized-760208.jpg"  border="0" alt="" id="BLOGGER_PHOTO_ID_5323281941784373154" /&gt;&lt;/a&gt;&lt;/p&gt;&lt;DIV&gt;&lt;FONT face=Arial size=2&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;FONT size=3&gt;Dear Valuable  Clients, Friends and All,&lt;BR style="mso-special-character: line-break"&gt;&lt;BR  style="mso-special-character: line-break"&gt;&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;FONT size=3&gt;Thank you very  much&amp;nbsp;indeed for your good&amp;nbsp;information and it is very interesting to  hear that!&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;?xml:namespace prefix = o ns =  "urn:schemas-microsoft-com:office:office" /&gt;&lt;o:p&gt;&lt;FONT  size=3&gt;&amp;nbsp;&lt;/FONT&gt;&lt;/o:p&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;FONT size=3&gt;May we send you the  same!&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;BR&gt;&lt;FONT size=3&gt;We would like to  inform you that we are now running &lt;B&gt;2-in-1&lt;/B&gt; services which are as the  following:&lt;BR&gt;&lt;BR&gt;1. &lt;/FONT&gt;&lt;A href="http://www.Lyna-CarRental.Com"&gt;&lt;FONT  size=3&gt;http://www.Lyna-CarRental.Com&lt;/FONT&gt;&lt;/A&gt;&lt;FONT size=3&gt;. &lt;BR&gt;&lt;BR&gt;We have a  fleet of cars for rent at the very reasonable price. You may hire a car(s) on  the daily and monthly basis, with or without driver &lt;B  style="mso-bidi-font-weight: normal"&gt;(You will have your own PRIVACY).&lt;/B&gt; Most  of the cars are working more than good working condition and under the  comprehensive insurance coverage. &lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;o:p&gt;&lt;FONT  size=3&gt;&amp;nbsp;&lt;/FONT&gt;&lt;/o:p&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;B  style="mso-bidi-font-weight: normal"&gt;&lt;FONT size=3&gt;Extra  Services&lt;o:p&gt;&lt;/o:p&gt;&lt;/FONT&gt;&lt;/B&gt;&lt;/P&gt; &lt;P class=MsoNormal  style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 18pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt"&gt;&lt;SPAN  style="FONT-SIZE: 8pt; FONT-FAMILY: 'Courier New'; mso-fareast-font-family: 'Courier New'"&gt;&lt;SPAN  style="mso-list: Ignore"&gt;o&lt;SPAN  style="FONT: 7pt 'Times New Roman'"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;  &lt;/SPAN&gt;&lt;/SPAN&gt;&lt;/SPAN&gt;&lt;FONT size=3&gt;Make Cambodian Driver's License within 1  minute&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal  style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 18pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt"&gt;&lt;SPAN  style="FONT-SIZE: 8pt; FONT-FAMILY: 'Courier New'; mso-fareast-font-family: 'Courier New'"&gt;&lt;SPAN  style="mso-list: Ignore"&gt;o&lt;SPAN  style="FONT: 7pt 'Times New Roman'"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;  &lt;/SPAN&gt;&lt;/SPAN&gt;&lt;/SPAN&gt;&lt;FONT size=3&gt;Renewing the Cambodian visa and Cambodian  Driver's License&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal  style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 18pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt"&gt;&lt;SPAN  style="FONT-SIZE: 8pt; FONT-FAMILY: 'Courier New'; mso-fareast-font-family: 'Courier New'"&gt;&lt;SPAN  style="mso-list: Ignore"&gt;o&lt;SPAN  style="FONT: 7pt 'Times New Roman'"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;  &lt;/SPAN&gt;&lt;/SPAN&gt;&lt;/SPAN&gt;&lt;FONT size=3&gt;Airport Taxi Services (One-way and Round-trip  Services)&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;o:p&gt;&lt;FONT  size=3&gt;&amp;nbsp;&lt;/FONT&gt;&lt;/o:p&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify"&gt;&lt;FONT  size=3&gt;For further details, please view, &lt;/FONT&gt;&lt;A  href="http://www.Lyna-CarRental.Com"&gt;&lt;FONT  size=3&gt;www.Lyna-CarRental.Com&lt;/FONT&gt;&lt;/A&gt;&lt;FONT size=3&gt;.&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify"&gt;&lt;BR&gt;&lt;FONT  size=3&gt;2. &lt;/FONT&gt;&lt;A href="http://www.Lyna-AutoWorkshop.Com"&gt;&lt;FONT  size=3&gt;http://www.Lyna-AutoWorkshop.Com&lt;/FONT&gt;&lt;/A&gt;&lt;FONT size=3&gt;. &lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: justify"&gt;&lt;BR&gt;&lt;SPAN  style="mso-bidi-font-size: 10.0pt"&gt;&lt;FONT size=3&gt;We have full facilities,  qualified with the certificate mechanic, suspension repair, electrician,  welding, repainting with modern tools/equipment. We are specialized  in:&lt;o:p&gt;&lt;/o:p&gt;&lt;/FONT&gt;&lt;/SPAN&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;BR&gt;&lt;FONT size=3&gt;1. Suspension  and Braking System Repair&lt;BR&gt;2. Checking Electrical System by the Computer  &lt;BR&gt;3. Repair to the Petrol &amp;amp; the Diesel Engine&lt;BR&gt;4. Electrical System  Repair and Rewiring&lt;BR&gt;5. Wheels and Tyres Alignment&lt;BR&gt;6. Body Welding and Auto  Color Repainting&lt;BR&gt;7. Auto-Gear Box or Manual-Clutch Disc Repair&lt;BR&gt;8. Rebuild  to the Whole Petrol &amp;amp; Diesel Engine&lt;BR&gt;9. Fleet Maintenance (NGO, UN, OI and  Companies)&lt;BR&gt;10. Air-Con Servicing and Repairing&lt;BR&gt;&lt;BR&gt;We assure you that we  are the most reliable, honest, non-cheating and more over is  reasonable!&lt;BR&gt;&lt;BR&gt;Should you require any further information regarding to our  services, please feel free to contact us. We are always at your  disposal.&lt;BR&gt;&lt;BR&gt;Hope to serving you in best qualify manner!&lt;BR&gt;&lt;BR&gt;Faithfully  yours,&lt;BR&gt;&lt;BR&gt;Lyna Tan (Mrs) &lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;FONT size=3&gt;Director  General&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;FONT size=3&gt;H/P: (+855) 12 924  517 (English)&lt;BR&gt;H/P: (+855) 12 554 247 (Cambodian)&lt;/FONT&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;SPAN  style="FONT-SIZE: 10pt; COLOR: #333333"&gt;Email: &lt;A  href="http://us.mc529.mail.yahoo.com/mc/compose?to=info@lyna-carrental.com"  target=_blank&gt;&lt;SPAN  style="COLOR: #003399; TEXT-DECORATION: none; mso-bidi-font-size: 12.0pt; text-underline: none"&gt;info@lyna-carrental.com&lt;/SPAN&gt;&lt;/A&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;SPAN  style="FONT-SIZE: 10pt; COLOR: #333333"&gt;Email: &lt;A  href="http://us.mc529.mail.yahoo.com/mc/compose?to=info@lyna-autoworkshop.com"  target=_blank&gt;&lt;SPAN  style="COLOR: #003399; TEXT-DECORATION: none; mso-bidi-font-size: 12.0pt; text-underline: none"&gt;info@lyna-autoworkshop.com&lt;/SPAN&gt;&lt;/A&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;SPAN  style="FONT-SIZE: 10pt; COLOR: #333333"&gt;Website: &lt;A  href="http://www.lyna-carrental.com/" target=_blank&gt;&lt;SPAN  style="COLOR: #003399; TEXT-DECORATION: none; mso-bidi-font-size: 12.0pt; text-underline: none"&gt;www.Lyna-CarRental.Com&lt;/SPAN&gt;&lt;/A&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;SPAN  style="FONT-SIZE: 10pt; COLOR: #333333"&gt;Website: &lt;A  href="http://www.lyna-autoworkshop.com/" target=_blank&gt;&lt;SPAN  style="COLOR: #003399; TEXT-DECORATION: none; mso-bidi-font-size: 12.0pt; text-underline: none"&gt;www.Lyna-AutoWorkshop.Com&lt;/SPAN&gt;&lt;/A&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt; &lt;P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"&gt;&lt;SPAN  style="FONT-SIZE: 10pt; COLOR: #333333"&gt;&amp;nbsp;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;/FONT&gt;&lt;/DIV&gt;</description><media:thumbnail xmlns:media="http://search.yahoo.com/mrss/" height="72" url="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikTgpBkPkVJK6pn9RlSDEbDqlwCnI0F5L6_3w0ZL9lhep8U0rwCHfZVRYx081H3eQBVPgvZSHLfHgbCzz7mvsCyBAhtQKrEuZnLfvO7W_IBUSsTiR1OqnzzyRCJdm-5FFWctzJjocM9SI/s72-c/Services+Available-Resized-760208.jpg" width="72"/><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>[PIMEX] Politiktoons no 74 from Bunheang Ung</title><link>http://watchcambodia.blogspot.com/2009/04/pimex-politiktoons-no-74-from-bunheang.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Sat, 11 Apr 2009 08:50:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-716939923402509078</guid><description>&lt;p class="mobile-photo"&gt;&lt;a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlimgSmr8-bB_FY93bKfKHk-1Ljj4TqX5xxPebHwdgL-hfaNBRwc6pvIUe3TJcAXIsOT83JkfLQEUB0YTGeLm5kc9mmZnDunP6vVcXyol07pVSzLNuMV8yKvKBYyMhKMTgWpejKYdhyphenhyphenTI/s1600-h/Politiktoons+no+74-726562.jpg"&gt;&lt;img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlimgSmr8-bB_FY93bKfKHk-1Ljj4TqX5xxPebHwdgL-hfaNBRwc6pvIUe3TJcAXIsOT83JkfLQEUB0YTGeLm5kc9mmZnDunP6vVcXyol07pVSzLNuMV8yKvKBYyMhKMTgWpejKYdhyphenhyphenTI/s320/Politiktoons+no+74-726562.jpg"  border="0" alt="" id="BLOGGER_PHOTO_ID_5323247003995934802" /&gt;&lt;/a&gt;&lt;/p&gt;&lt;!--~-|**|PrettyHtmlStartT|**|-~--&gt; &lt;div id="ygrp-mlmsg" style="width:655px; position:relative;"&gt; &lt;div id="ygrp-msg" style="width: 470px; margin:0; padding:0 25px 0 0; float:left; z-index:1;"&gt; &lt;!--~-|**|PrettyHtmlEndT|**|-~--&gt;      &lt;div id="ygrp-text" &gt;             &lt;!--~-|**|PrettyHtmlStart|**|-~--&gt;             &lt;br&gt;&lt;br&gt;       &lt;!--~-|**|PrettyHtmlEnd|**|-~--&gt;       &lt;p&gt;Please attached file for the Politiktoons no 74 from Bunheang Ung&lt;br&gt; &lt;br&gt; Cheer,&lt;br&gt; Hotaro&lt;br&gt; &lt;/p&gt;        &lt;/div&gt;        &lt;!--~-|**|PrettyHtmlStart|**|-~--&gt;     &lt;div width="1" style="color: white; clear: both;"&gt;__._,_.___&lt;/div&gt;                          &lt;!-- Start the section with Message In topic --&gt;     &lt;div id="ygrp-actbar" style="clear: both; margini-bottom: 25px; white-space:nowrap; color: #666; text-align: right;"&gt;               &lt;span class="left" style="float: left; white-space:nowrap;"&gt;           &lt;a href="http://groups.yahoo.com/group/pimex/message/74;_ylc=X3oDMTMxMzNiMWc3BF9TAzk3MzU5NzE0BGdycElkAzIzMTA0NzE2BGdycHNwSWQDMTcwNTQxNjA0NQRtc2dJZAM3NARzZWMDZnRyBHNsawN2dHBjBHN0aW1lAzEyMzk0MTQ4OTUEdHBjSWQDNzQ-"&gt; 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It soon became too &lt;br&gt;dangerous to leave Phnom Penh.&lt;p&gt;At first the contents of the weekend homes were looted, then the doors &lt;br&gt;and window-frames and roof tiles were taken.&lt;p&gt;What was left was then abandoned to the elements, or set ablaze as part &lt;br&gt;of the Khmer Rouge&amp;#39;s quest to eliminate anything to do with an imperial &lt;br&gt;past.&lt;br&gt; &lt;p&gt;&lt;br&gt;But the buildings were too well constructed to be completely destroyed.&lt;p&gt;Now Kep is full of ruins, houses with crumbling verandas where pastis &lt;br&gt;was once sipped as the sun set, lovingly tended vegetable plots now &lt;br&gt;overgrown, trees where beds and sofas were once carefully arranged.&lt;p&gt;Of all the ghostly remains, my home-behind-the-gates was by far the most &lt;br&gt;spectacular.&lt;p&gt;A grand double-fronted residence, with wide balconies on the first floor &lt;br&gt;and gaping gaps where shuttered French windows would once have stood.&lt;br&gt;     Perhaps he dreams of a day when Cambodia&amp;#39;s situation is more &lt;br&gt;stable, rosier, and Kep-sur-Mer as was, can become a royal resort once &lt;br&gt;again&lt;p&gt;&lt;p&gt;But there was something different about this place, and it took me a few &lt;br&gt;moments to work out what. Then I realised. The ruin was surrounded by &lt;br&gt;perfectly kept gardens.&lt;p&gt;The lawn was trimmed, the shrub-beds immaculate, the white roses &lt;br&gt;carefully pruned.&lt;p&gt;The young gardener soon appeared, a broad smile on his face as he &lt;br&gt;carried buckets of water.&lt;p&gt;Round the back of the house was his well, and his toddler daughter, &lt;br&gt;alarmingly amusing herself playing with an axe.&lt;br&gt; &lt;br&gt;The powder-blue bathroom has long since fallen into disrepair&lt;p&gt;&lt;br&gt;I pointed to show that I would like to look inside the house, and he &lt;br&gt;waved me in.&lt;p&gt;Red and white tiles still covered 60% of the floor. In the central hall, &lt;br&gt;an elegantly curved staircase slowly wound its way upstairs, its &lt;br&gt;banisters long gone.&lt;p&gt;The walls were riddled with bullet marks  -  there had obviously once &lt;br&gt;been some stand-off here.&lt;p&gt;The occupant of the master-bedroom would have enjoyed spectacular views &lt;br&gt;of the Gulf of Thailand.&lt;p&gt;The adjacent bathroom had once boasted a powder-blue suite - most of it &lt;br&gt;gone, or reduced to rubble, save for the lavatory roll holder, which &lt;br&gt;somehow had survived intact.&lt;p&gt;Mysterious benefactor&lt;p&gt;Then came a clue as to the ownership of this house. Another bedroom had &lt;br&gt;been turned into a makeshift classroom.&lt;p&gt;A series of cartoons painted on the wall seemed to poke fun at the &lt;br&gt;government.&lt;p&gt;In one a spotlight shone on a man in a suit, who looked like Hun Sen, &lt;br&gt;prime minister for the past 25 years. In the beam, the word &lt;br&gt;&amp;quot;transparency&amp;quot; was written in English and in capitals.&lt;p&gt;On another wall, a blackboard had the words along the top, again in &lt;br&gt;English, HM Norodom Sihanouk, King of Cambodia.&lt;p&gt;Sihanouk was monarch until 2004, when he unexpectedly abdicated, handing &lt;br&gt;power to one of his sons, Norodom Sihamoni, a former ballet dancer who &lt;br&gt;has spent most of his life abroad.&lt;p&gt;&amp;quot;King house, king house,&amp;quot; my driver told me as we pulled away, waving &lt;br&gt;goodbye to the gardener and his daughter.&lt;p&gt;In fact as I discovered later, it was actually the villa of the king&amp;#39;s &lt;br&gt;mother.&lt;br&gt; &lt;br&gt;The Khmer Rouge abolished money and private property&lt;p&gt;&lt;br&gt;The king&amp;#39;s own residence is on a bluff the other side of town, a &amp;#39;60s &lt;br&gt;fantasy with sweeping picture windows and circular terraces overlooking &lt;br&gt;the sea.&lt;p&gt;Again the house is crumbling, but the grounds are perfectly maintained.&lt;p&gt;So who is paying the gardeners? Locals told me that money arrives &lt;br&gt;regularly and discreetly from the royal family itself.&lt;p&gt;Kep is gradually coming to life again.&lt;p&gt;French families are staying in the simple hotel on the beach and an &lt;br&gt;eco-resort has opened in the hills.&lt;p&gt;The grand former colonial governor&amp;#39;s house - rather like a Normandy &lt;br&gt;chateau - has been restored and surrounded by chalets, though a &lt;br&gt;financial dispute means the complex is currently locked shut.&lt;p&gt;Cambodia now attracts over a million foreign tourists a year, but &lt;br&gt;Norodom Sihamoni is king of a nation that is still high up the UN list &lt;br&gt;of Least Developed Countries and suffers from what has been described as &lt;br&gt;&amp;quot;pandemic&amp;quot; corruption.&lt;p&gt;Recently the IMF announced Cambodia&amp;#39;s economic outlook was distinctly &lt;br&gt;gloomy.&lt;p&gt;But if it is the king who is keeping his gardens growing in this little &lt;br&gt;coastal town, perhaps he dreams of a day when Cambodia&amp;#39;s situation is &lt;br&gt;more stable, rosier, and Kep-sur-Mer as was, can become a royal resort &lt;br&gt;once again.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Cambodia says 4 Thai troops killed in border clash</title><link>http://watchcambodia.blogspot.com/2009/04/cambodia-says-4-thai-troops-killed-in.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Fri, 3 Apr 2009 22:14:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-3243933110736232655</guid><description>Friday, April 03, 2009&lt;p&gt;Friday, April 03, 2009&lt;br&gt;By SOPHENG CHEANG&lt;p&gt;PHNOM PENH, Cambodia (AP) — Thai and Cambodian soldiers traded fire with &lt;br&gt;machine guns and rocket launchers along a disputed border, killing as &lt;br&gt;many as four people Friday in an escalation of tensions in a &lt;br&gt;long-standing feud over an 11th century temple.&lt;p&gt;Cambodian government spokesman Khieu Kanharith said four Thai soldiers &lt;br&gt;were killed and 10 captured during the two clashes. Thailand&amp;#39;s Foreign &lt;br&gt;Ministry insisted only one Thai soldier was killed, seven were injured &lt;br&gt;and none was taken prisoner, while two Thai army officers, who refused &lt;br&gt;to be named, said two soldiers were killed and 10 injured.&lt;p&gt;The clashes occurred several hours apart near the same border location.&lt;p&gt;&amp;quot;The fighting has stopped. Commanders from both sides are talking,&amp;quot; Maj. &lt;br&gt;Nou Sarath, a Cambodian soldier at the border, told The Associated Press.&lt;p&gt;The fighting is the latest flare-up near the cliff-top Preah Vihear &lt;br&gt;temple, which is on the Cambodian side of an ill-defined border that has &lt;br&gt;been a source of conflict for decades. Two clashes last year sparked &lt;br&gt;brief concerns of war.&lt;p&gt;In the first round of fighting Friday, Cambodia fired on some 60 Thai &lt;br&gt;soldiers after they entered Cambodian territory, sparking a battle that &lt;br&gt;lasted about 10 minutes, said Yim Kheang, a Cambodian soldier at the &lt;br&gt;border. Officials from both sides said there were no injuries.&lt;p&gt;Thai Foreign Ministry spokesman Tharit Charungvat said the clash started &lt;br&gt;when Thai soldiers arrived to investigate the site where one of their &lt;br&gt;colleagues had his leg blown off by a land mine on Thursday. As they &lt;br&gt;approached the area, Cambodian soldiers opened fire, he said.&lt;p&gt;Thailand and Cambodia have long had competing claims to land surrounding &lt;br&gt;the temple, which the World Court awarded to Cambodia in 1962. Tensions &lt;br&gt;flared last July after UNESCO, the U.N. cultural agency, approved &lt;br&gt;Cambodia&amp;#39;s bid to have the temple named a World Heritage Site. Both &lt;br&gt;sides deployed troops.&lt;p&gt;Thai Defense Minister Prawit Wongsuwan downplayed Friday morning&amp;#39;s clash.&lt;p&gt;&amp;quot;It was an accident, a misunderstanding among officials on the ground, &lt;br&gt;which is common when you are closely positioned,&amp;quot; he told reporters in &lt;br&gt;Bangkok.&lt;p&gt;In the second clash, Cambodians insisted that Thai soldiers shot &lt;br&gt;rocket-propelled grenades into their territory. Tharit denied the &lt;br&gt;allegation. A Cambodian market near the border was set fire by a Thai &lt;br&gt;rocket but the market was empty so there were no casualties, Cambodian &lt;br&gt;soldiers said.&lt;p&gt;&amp;quot;The Cambodians started firing rocket-propelled grenades and rifles at &lt;br&gt;us,&amp;quot; Tharit said. &amp;quot;That led to several casualties on our side.&amp;quot;&lt;p&gt;On Thursday, a Thai soldier in the area lost his leg after stepping on a &lt;br&gt;land mine, but Thai and Cambodian military officials disagreed over &lt;br&gt;which side of the border he was on at the time.&lt;p&gt;Cambodia and Thailand share a 500-mile (800-kilometer) land border, much &lt;br&gt;of which has never been clearly demarcated because the countries refer &lt;br&gt;to different maps.&lt;p&gt;Tharit called on both sides to &amp;quot;exercise utmost restraint and not use &lt;br&gt;any force.&amp;quot;&lt;p&gt;&amp;quot;We ask them to go back to the negotiating table,&amp;quot; he said, referring to &lt;br&gt;border negotiations that are to resume at the end of the month.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Thai, Cambodian troops clash near disputed temple</title><link>http://watchcambodia.blogspot.com/2009/04/thai-cambodian-troops-clash-near_03.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Fri, 3 Apr 2009 22:06:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-1397626918725284769</guid><description>Friday, April 03, 2009&lt;p&gt;Thai, Cambodian troops clash near disputed temple&lt;p&gt;Fri, Apr 03, 2009&lt;br&gt;By Ek Madra&lt;br&gt;Reuters&lt;p&gt;PHNOM PENH, CAMBODIA - Thai and Cambodian soldiers exchanged rocket and &lt;br&gt;rifle fire on a disputed stretch of their border on Friday, killing one &lt;br&gt;Thai in the latest flare-up of an ancient feud over a 900-year-old Hindu &lt;br&gt;temple.&lt;p&gt;Both sides accused each other of firing first in two separate clashes &lt;br&gt;near the Preah Vihear temple, which is claimed by both Southeast Asian &lt;br&gt;nations and saw an armed stand-off last year.&lt;p&gt;One Thai soldier died from a rocket-propelled grenade fired by Cambodian &lt;br&gt;troops when fighting resumed after midday talks between the border &lt;br&gt;commanders failed.&lt;p&gt;Seven Thai soldiers were also wounded in the second battle, Wiboonsak &lt;br&gt;Neepan, commander of Thailand&amp;#39;s Second Army, told Reuters.&lt;p&gt;In Phnom Penh, Cambodian Information Minister Khieu Kanharith said he &lt;br&gt;had received reports of two Cambodian soldiers killed in the initial &lt;br&gt;fighting this morning, but it was not confirmed.&lt;p&gt;Cambodian officials claimed two Thais died in the morning clash. &lt;br&gt;Thailand said no one was hurt then and it planned to lodge a formal &lt;br&gt;protest with the Cambodian government.&lt;p&gt;The latest fighting comes a day after a Thai soldier lost a leg when he &lt;br&gt;stepped on a land mine in an area claimed by Thailand.&lt;p&gt;A Thai patrol visited the blast site on Friday morning and encountered &lt;br&gt;20 Cambodian soldiers.&lt;p&gt;&amp;quot;After talks between the two sides failed, the Cambodian side started to &lt;br&gt;walk away and turned back to open fire at Thai troops with rifles and &lt;br&gt;RPG rockets, forcing the Thai side to fire back in self-defense,&amp;quot; &lt;br&gt;Thailand&amp;#39;s Foreign Ministry said in a statement.&lt;p&gt;Preah Vihear, or Khao Phra Viharn as it is known in Thailand, sits on an &lt;br&gt;escarpment that forms the natural border between the two countries and &lt;br&gt;has been a source of tension for generations.&lt;p&gt;The International Court of Justice awarded it to Cambodia in 1962, but &lt;br&gt;the ruling did not determine the ownership of 1.8 square miles (4.6 sq &lt;br&gt;km) of scrub next to the ruins, leaving considerable scope for &lt;br&gt;disagreement.&lt;p&gt;Tensions rose last month when 100 Thai troops crossed into a disputed &lt;br&gt;area near the temple and were stopped by Cambodian soldiers, but no &lt;br&gt;fighting occurred.&lt;p&gt;The border had been quiet for months while the Southeast Asian neighbors &lt;br&gt;sought to jointly demarcate the jungle-clad area where one Thai and &lt;br&gt;three Cambodian soldiers died in last October&amp;#39;s exchange of rifle and &lt;br&gt;rocket fire.&lt;p&gt;Cambodian Prime Minister Hun Sen, a former Khmer Rouge commander, warned &lt;br&gt;this week that his soldiers would fight if Thai troops crossed the &lt;br&gt;disputed border again.&lt;p&gt;The site is 600 km (370 miles) east of Bangkok and only a decade ago was &lt;br&gt;controlled by remnants of Pol Pot&amp;#39;s Khmer Rouge guerrilla army.&lt;p&gt;Few foreign visitors go there, although both countries have said they &lt;br&gt;would like to develop the area as a tourist destination.&lt;p&gt;The Cambodia-Thailand Joint Border Committee will meet again on Sunday &lt;br&gt;for three days of talks in the Cambodian resort town of Siem Reap to try &lt;br&gt;to find a solution to the row.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Thai, Cambodian Border Fighting Stops, Thailand Says</title><link>http://watchcambodia.blogspot.com/2009/04/thai-cambodian-border-fighting-stops.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Fri, 3 Apr 2009 22:01:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-6055095600082621081</guid><description>&lt;h2 class="date-header"&gt;Friday, April 03, 2009&lt;/h2&gt; &lt;h3 class="post-title"&gt; &lt;a  href="http://ki-media.blogspot.com/2009/04/thai-cambodian-border-fighting-stops.html"&gt;Thai, Cambodian Border Fighting Stops, Thailand Says&lt;/a&gt; &lt;/h3&gt; &lt;p&gt;&lt;span style="font-size: 85%;"&gt;By &lt;span style="font-weight: bold;"&gt;Daniel Ten Kate&lt;/span&gt;&lt;/span&gt;&lt;br&gt; &lt;br&gt; &lt;/p&gt; &lt;div style="text-align: justify;"&gt;April 3 (&lt;span  style="font-weight: bold; font-style: italic;"&gt;Bloomberg&lt;/span&gt;) -- Fighting between Thai and Cambodian soldiers in a disputed border region has stopped after an exchange of heavy gunfire, Thai Foreign Ministry spokesman Tharit Charungvat said by telephone.&lt;br&gt; &lt;br&gt; &amp;#8220;The army chiefs are now talking,&amp;#8221; Tharit said. &amp;#8220;We asked for a ceasefire and do not want to use force.&amp;#8221;&lt;br&gt; &lt;br&gt; Cambodian and Thai troops engaged in &amp;#8220;large-scale fighting&amp;#8221; today, Cambodian government spokesman Phay Siphan said by phone. Two Thai soldiers were killed and six wounded, he said. Tharit denied the claim and said Thailand had suffered no deaths or injuries.&lt;br&gt; &lt;br&gt; Two Cambodian soldiers were killed after soldiers fired at each other in at least three locations on the border, Agence France-Presse said, citing government spokesman Khieu Kanharith. Phay Siphan said he couldn&amp;#8217;t confirm the Cambodian deaths. &lt;span class="fullpost"&gt;&lt;br&gt; &lt;br&gt; The fighting erupted before the Association of Southeast Asian Nations, of which Thailand and Cambodia are members, will hold a summit from April 10 to 12 in Pattaya south of Bangkok with the leaders of China, Japan, South Korea, Australia and New Zealand. Cambodian Prime Minister Hun Sen plans to attend.&lt;br&gt; &lt;br&gt; The disputed area has been the site of numerous incidents since July, when Thailand objected to Cambodia&amp;#8217;s efforts to list Preah Vihear temple as a United Nations World Heritage site. The countries agreed in October to avoid clashes in the area after two Cambodian soldiers were killed in a gun battle.&lt;br&gt; &lt;br&gt; &lt;span style="font-weight: bold;"&gt;Warning Issued &lt;/span&gt;&lt;br&gt; &lt;br&gt; Hun Sen warned Thailand on March 31 that fighting would break out should troops from its neighbor cross into Cambodian territory.&lt;br&gt; &lt;br&gt; Thailand plans to write a letter of protest to Cambodia after a five-minute exchange of gunfire between their troops earlier today, Tharit said.&lt;br&gt; &lt;br&gt; The shooting erupted after Thai troops invited the Cambodians to inspect the site where a soldier from Thailand stepped on a landmine and lost his leg, Tharit said.&lt;br&gt; &lt;br&gt; The meeting failed to resolve matters and the Cambodians left, then started firing, Tharit said. Thai officers suspect a newly laid landmine caused yesterday&amp;#8217;s blast, he said.&lt;br&gt; &lt;br&gt; In 1962, the International Court of Justice ruled in a 9-3 vote that Cambodia had sovereignty over Preah Vihear. The court didn&amp;#8217;t rule on the disputed land near the temple.&lt;br&gt; &lt;br&gt; Thai and Cambodian officials have scheduled meetings to continue work on demarcating their 803-kilometer (499-mile) border. The two countries have yet to divide 10,422 square miles in the Gulf of Thailand that may contain oil and gas reserves.&lt;br&gt; &lt;br&gt; Thai Prime Minister Abhisit Vejjajiva is due to visit Cambodia later this month.&lt;br&gt; &lt;br&gt; &lt;span style="font-style: italic; font-size: 85%;"&gt;To contact the reporter on this story: Daniel Ten Kate in Bangkok at&lt;br&gt; &lt;a class="moz-txt-link-abbreviated" href="mailto:dtenkate@bloomberg.net"&gt;dtenkate@bloomberg.net&lt;/a&gt;&lt;/span&gt;.&lt;/span&gt;&lt;/div&gt; </description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Thai, Cambodian troops clash near disputed temple</title><link>http://watchcambodia.blogspot.com/2009/04/thai-cambodian-troops-clash-near.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Fri, 3 Apr 2009 21:59:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-5396080322788896043</guid><description>Friday, April 03, 2009&lt;p&gt;&lt;br&gt;      Thai, Cambodian troops clash near disputed temple&lt;br&gt;      &amp;lt;&lt;a href="http://ki-media.blogspot.com/2009/04/thai-cambodian-troops-clash-near.html"&gt;http://ki-media.blogspot.com/2009/04/thai-cambodian-troops-clash-near.html&lt;/a&gt;&amp;gt;&lt;p&gt;&lt;br&gt;Fri, Apr 03, 2009&lt;br&gt;By Ek Madra&lt;br&gt;Reuters&lt;p&gt;PHNOM PENH, CAMBODIA - Thai and Cambodian soldiers exchanged rocket and &lt;br&gt;rifle fire on a disputed stretch of their border on Friday, killing one &lt;br&gt;Thai in the latest flare-up of an ancient feud over a 900-year-old Hindu &lt;br&gt;temple.&lt;p&gt;Both sides accused each other of firing first in two separate clashes &lt;br&gt;near the Preah Vihear temple, which is claimed by both Southeast Asian &lt;br&gt;nations and saw an armed stand-off last year.&lt;p&gt;One Thai soldier died from a rocket-propelled grenade fired by Cambodian &lt;br&gt;troops when fighting resumed after midday talks between the border &lt;br&gt;commanders failed.&lt;p&gt;Seven Thai soldiers were also wounded in the second battle, Wiboonsak &lt;br&gt;Neepan, commander of Thailand&amp;#39;s Second Army, told Reuters.&lt;p&gt;In Phnom Penh, Cambodian Information Minister Khieu Kanharith said he &lt;br&gt;had received reports of two Cambodian soldiers killed in the initial &lt;br&gt;fighting this morning, but it was not confirmed.&lt;p&gt;Cambodian officials claimed two Thais died in the morning clash. &lt;br&gt;Thailand said no one was hurt then and it planned to lodge a formal &lt;br&gt;protest with the Cambodian government.&lt;p&gt;The latest fighting comes a day after a Thai soldier lost a leg when he &lt;br&gt;stepped on a land mine in an area claimed by Thailand.&lt;p&gt;A Thai patrol visited the blast site on Friday morning and encountered &lt;br&gt;20 Cambodian soldiers.&lt;p&gt;&amp;quot;After talks between the two sides failed, the Cambodian side started to &lt;br&gt;walk away and turned back to open fire at Thai troops with rifles and &lt;br&gt;RPG rockets, forcing the Thai side to fire back in self-defense,&amp;quot; &lt;br&gt;Thailand&amp;#39;s Foreign Ministry said in a statement.&lt;p&gt;Preah Vihear, or Khao Phra Viharn as it is known in Thailand, sits on an &lt;br&gt;escarpment that forms the natural border between the two countries and &lt;br&gt;has been a source of tension for generations.&lt;p&gt;The International Court of Justice awarded it to Cambodia in 1962, but &lt;br&gt;the ruling did not determine the ownership of 1.8 square miles (4.6 sq &lt;br&gt;km) of scrub next to the ruins, leaving considerable scope for disagreement.&lt;p&gt;Tensions rose last month when 100 Thai troops crossed into a disputed &lt;br&gt;area near the temple and were stopped by Cambodian soldiers, but no &lt;br&gt;fighting occurred.&lt;p&gt;The border had been quiet for months while the Southeast Asian neighbors &lt;br&gt;sought to jointly demarcate the jungle-clad area where one Thai and &lt;br&gt;three Cambodian soldiers died in last October&amp;#39;s exchange of rifle and &lt;br&gt;rocket fire.&lt;p&gt;Cambodian Prime Minister Hun Sen, a former Khmer Rouge commander, warned &lt;br&gt;this week that his soldiers would fight if Thai troops crossed the &lt;br&gt;disputed border again.&lt;p&gt;The site is 600 km (370 miles) east of Bangkok and only a decade ago was &lt;br&gt;controlled by remnants of Pol Pot&amp;#39;s Khmer Rouge guerrilla army.&lt;p&gt;Few foreign visitors go there, although both countries have said they &lt;br&gt;would like to develop the area as a tourist destination.&lt;p&gt;The Cambodia-Thailand Joint Border Committee will meet again on Sunday &lt;br&gt;for three days of talks in the Cambodian resort town of Siem Reap to try &lt;br&gt;to find a solution to the row.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>RE: Discount Message 46491815</title><link>http://watchcambodia.blogspot.com/2009/03/re-discount-message-46491815.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Sun, 8 Mar 2009 22:35:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-3159991809903767041</guid><description>&lt;table border="0" cellpadding="0" cellspacing="0" width="660"&gt; 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Look my photo, clal me and fuck me zpptuaiihz: &lt;a href="http://vna-tp.mail15.su"&gt;http://vna-tp.mail15.su&lt;/a&gt;</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Port traffic down by as much as 30% this year</title><link>http://watchcambodia.blogspot.com/2009/03/port-traffic-down-by-as-much-as-30-this.html</link><author>noreply@blogger.com (Hotaro)</author><pubDate>Fri, 6 Mar 2009 00:17:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-1216883895189826885</guid><description>&amp;lt;&lt;a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-nK8E0XdobKIC5LT5SGgTP_LNfbcUN83Mdo9IuV5coj82oAo0LFRTArw_upeJk5I8pAvK7HgMUUyGSvgUBjNkAtOJ4jdkvbJIDofX_SSUKC9pxOqo9eSR81eTJLFj1HE7Hjm8DEyqzWO4/s1600-h/Freight+ship+in+PPenh+Port+%28Bloomberg%29.jpg"&gt;https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-nK8E0XdobKIC5LT5SGgTP_LNfbcUN83Mdo9IuV5coj82oAo0LFRTArw_upeJk5I8pAvK7HgMUUyGSvgUBjNkAtOJ4jdkvbJIDofX_SSUKC9pxOqo9eSR81eTJLFj1HE7Hjm8DEyqzWO4/s1600-h/Freight+ship+in+PPenh+Port+%28Bloomberg%29.jpg&lt;/a&gt;&amp;gt;A &lt;br&gt;freight ship docks at the Phnom Penh Port awaiting a consignment of &lt;br&gt;cargo in this file photo. A global slowdown in trade has hit heavily &lt;br&gt;Cambodia&amp;#39;s two main shipping terminals. (Photo: Bloomberg)&lt;p&gt;Thursday, 05 March 2009&lt;br&gt;Written by May Kunmakara and George Mcleod&lt;br&gt;The Phnom Penh Post&lt;p&gt;    30% drop in throughput at Phnom Penh Port&lt;br&gt;    Cambodia&amp;#39;s second largest container port has been affected more&lt;br&gt;    heavily than Sihanoukville by the global economic crisis during the&lt;br&gt;    first two months of this year&lt;p&gt;Global downturn hits trade, with flagging construction imports &lt;br&gt;accounting for the bulk of the losses since January&lt;p&gt;CARGO shipments at Cambodia&amp;#39;s second-largest port have declined sharply &lt;br&gt;in the first two months of the year as global trade slows, say port &lt;br&gt;authorities, adding that hundreds of jobs have also been axed in the &lt;br&gt;downturn.&lt;p&gt;The Phnom Penh International Autonomous Sea Port reports a 30 percent &lt;br&gt;drop in throughput, largely due to falling imports of construction &lt;br&gt;materials, officials told the Post Wednesday.&lt;p&gt;&amp;quot;The decline is caused by the global financial storm that started to hit &lt;br&gt;at the end of last year. This affected not only our ports, but also &lt;br&gt;others in the region,&amp;quot; said Hei Bavy, director general of the Phnom Penh &lt;br&gt;port.&lt;p&gt;He said that about 90 percent of goods crossing through the docks are &lt;br&gt;construction materials. With many of the country&amp;#39;s construction projects &lt;br&gt;stopping or on hold, the port says shipments are in free fall.&lt;p&gt;&amp;quot;Developers are suspending their imports because they face the credit &lt;br&gt;crunch,&amp;quot; he said, adding that staff had been cut from 700 to 400.&lt;p&gt;&amp;quot;I do plan to cut more staff, but I have reduced salaries to prevent &lt;br&gt;more layoffs,&amp;quot; Hei Bavy said.&lt;p&gt;He added that the company is also instituting across-the-board cost cuts &lt;br&gt;to prevent further job losses.&lt;p&gt;    &amp;quot;This affected not only our ports, but also others in the region&amp;quot;&lt;p&gt;Port traffic is falling globally, with Asia bearing the brunt of the &lt;br&gt;international trade slowdown. Singapore, the world&amp;#39;s largest container &lt;br&gt;port, said container traffic was down 20 percent, and Shanghai, the &lt;br&gt;world&amp;#39;s second biggest, down 19 percent, according to Bloomberg.&lt;p&gt;Cambodia&amp;#39;s ports are reporting similar troubles, with officials blaming &lt;br&gt;not only a slowdown in the construction sector, but flagging overseas &lt;br&gt;garment sales as well.&lt;p&gt;The Finance Ministry in February reported a two-percent drop in garment &lt;br&gt;exports at the beginning of the year.&lt;p&gt;Lou Kim Chhun, director general of Sihanoukville International &lt;br&gt;Autonomous Port, told the Post Wednesday that he is waiting on figures &lt;br&gt;for February, but that container shipments were down 20 percent due to &lt;br&gt;the economic slowdown.&lt;p&gt;&amp;quot;The crisis has impacted our port revenue, which will hurt the &lt;br&gt;government&amp;#39;s tariff and tax income,&amp;quot; Lou Kim Chhun earlier told Rasmey &lt;br&gt;Kampuchea.&lt;p&gt;Hei Bavy said that the export of agricultural goods have been one bright &lt;br&gt;spot for the Phnom Penh Port.&lt;p&gt;&amp;quot;Agricultural exports have been stable, but I expect the crisis to &lt;br&gt;affect us for a long time,&amp;quot; he said, adding that Cambodians should rely &lt;br&gt;more on domestically produced goods.&lt;p&gt;&amp;quot;If our people stop using imported products, it will support local &lt;br&gt;businesses. The crisis could drain our national wealth if people keep &lt;br&gt;buying foreign goods.&amp;quot;</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>[KhmerNews] Deficit a risky business during global crisis</title><link>http://watchcambodia.blogspot.com/2009/03/khmernews-deficit-risky-business-during.html</link><author>noreply@blogger.com (Hotaro)</author><pubDate>Thu, 5 Mar 2009 00:29:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-5371741861910686793</guid><description>Wednesday, 04 March 2009&lt;br&gt;Written by George McLeod&lt;br&gt;The Phnom Penh Post&lt;p&gt;    &amp;quot;Cambodia&amp;#39;s trade deficit has increased steadily in the past decade&lt;br&gt;    as imports have soared. In 1998, the country recorded a $364 million&lt;br&gt;    trade deficit that has grown each year since except in 2001 and&lt;br&gt;    2003, years that saw a slight dip, National Bank of Cambodia figures&lt;br&gt;    show. In 2006, the deficit for the year climbed to over $1 billion&lt;br&gt;    for the first time at $1.034 billion and since then has escalated at&lt;br&gt;    an increasing rate. In 2007, the deficit was $1.331 billion jumping&lt;br&gt;    to $1.852 billion last year, according to central bank estimates, as&lt;br&gt;    imports reached $11.47 billion.&amp;quot; - Steve Finch &lt;p&gt;Emerging markets expert Vanessa Rossi of Chatham House, the UK&amp;#39;s Royal &lt;br&gt;Institute of International Affairs, warns Cambodia may require a bailout &lt;br&gt;due to a rising accounts deficit&lt;p&gt;Asian leaders maintain that the region is in better shape than other &lt;br&gt;areas of the world. Do you believe that Asia will escape the worst &lt;br&gt;effects of the crisis?&lt;br&gt;Asia has two major problems - current accounts deficits are rising and &lt;br&gt;trade is in decline.... Over the next six months or so, countries with &lt;br&gt;current accounts deficits will run into problems.... The second issue is &lt;br&gt;trade. Trade is falling quickly, and Asia has a high percentage of &lt;br&gt;exports to GDP - with Western demand falling, this is going to hit Asian &lt;br&gt;countries hard.&lt;p&gt;The National Bank of Cambodia said the current accounts deficit may rise &lt;br&gt;from 11.2 percent of GDP in 2008 to 12.1 percent in 2009. Should that &lt;br&gt;raise concerns?&lt;br&gt;That rings bells, and it shows that this is not a regional problem - it &lt;br&gt;is a problem within certain pockets in Asia. Most Asian countries have &lt;br&gt;[current accounts] surpluses and large foreign exchange reserves, so &lt;br&gt;they are not as vulnerable to the problems that were seen during the &lt;br&gt;Asian crisis. But there are some specific spots that are exposed, and &lt;br&gt;Cambodia is one of them. Cambodia will find it very difficult to fund &lt;br&gt;these kinds of deficits with private sector capital flows.&lt;p&gt;    &amp;quot;Its worrying, especially with the cambodian central bank coming out&lt;br&gt;    with those figures.&amp;quot;&lt;p&gt;[Investment] has been buoyant in recent years but this year it is &lt;br&gt;disappearing very fast. Neighbouring Vietnam had similar problems.... &lt;br&gt;It&amp;#39;s worrying, especially with the Cambodian central bank coming out &lt;br&gt;with those figures ... and it might require an eventual IMF bailout.&lt;p&gt;    Running a deficit&lt;br&gt;    Cambodia&amp;#39;s current account balance year-on-year:&lt;p&gt;        * 2007: -8.2 percent of GDP&lt;br&gt;        * 2008: -11.2 pc of GDP (E)&lt;br&gt;        * 2009: -12.1 pc of GDP (F)&lt;p&gt;    E-estimate F-forecast&lt;br&gt;    Source: National Bank of Cambodia&lt;p&gt;What are the options available to Cambodia?&lt;br&gt;Depending on the scale of the foreign-debt buildup, one of the options &lt;br&gt;is to be discussing this with the IMF - a number of countries are &lt;br&gt;already taking pre-emptive action in talking to the IMF about &lt;br&gt;assistance, possibly the same with the World Bank, to try to be able to &lt;br&gt;tide over these capital flows.&lt;p&gt;Other policies to be considered would cut back the import bill because &lt;br&gt;you very rapidly need to reduce the trade deficit, so the government may &lt;br&gt;have to impose some kind of trade restrictions, unpopular even if they are.&lt;p&gt;Cambodia has run a current accounts deficit for years. Why is it only a &lt;br&gt;problem now?&lt;br&gt;Because if you have a deficit, you have to have a counterpart to pay for &lt;br&gt;it, so you have to have capital inflows that cover this, otherwise the &lt;br&gt;country runs out of foreign exchange reserves. And you have a balance of &lt;br&gt;payments crisis. In recent years, there have been very buoyant capital &lt;br&gt;flows, and investment coming into emerging economies. But unfortunately &lt;br&gt;with this crisis, many of these flows have not just disappeared, but &lt;br&gt;they have actually reversed. In this case, it will be very difficult to &lt;br&gt;get those flows to match continuing trade and current accounts deficits. &lt;br&gt;So the implications are quite severe.&lt;p&gt;How long can Cambodia hold on before it needs an IMF bailout?&lt;br&gt;If you look at the foreign exchange reserves, you can see how many &lt;br&gt;months of cover the country has.&lt;p&gt;I think most countries aim to have something like five or six months of &lt;br&gt;cover to protect themselves, but if you start to run this down, you face &lt;br&gt;an escalating problem of confidence in your economy.&lt;p&gt;The central banks need to be very attentive to how much reserves they &lt;br&gt;have, and not just to use up these reserves but they need to take &lt;br&gt;pre-emptive measures before they get down to two or three months.&lt;p&gt;Economist Niall Ferguson predicted that Asian economies could fare worse &lt;br&gt;than the US. How do you respond to that?&lt;br&gt;Well, there are pockets in Asia that will have to be extremely careful - &lt;br&gt;Singapore is already announcing a very big loss of GDP and there are &lt;br&gt;some very serious problems in northeast Asia with Taiwan, Korea and &lt;br&gt;Japan likely to be far worse than the US. And, of course, there are &lt;br&gt;pockets like Cambodia and Vietnam that may not be able to resist the &lt;br&gt;financial problems, as well as the trade problems. In that sense, it&amp;#39;s &lt;br&gt;quite possible, and quite ironic, that the crisis originated in the US, &lt;br&gt;but may hit hardest in other regions.&lt;p&gt;I think that many people realise that this wasn&amp;#39;t just a US financial &lt;br&gt;problem, there are genuinely difficulties with the debt situation that &lt;br&gt;has built up in other areas of the world. Its not the housing market &lt;br&gt;that&amp;#39;s the biggest problem in Cambodia, but certainly this buildup of &lt;br&gt;external debt and a dependence on capital flows is a huge risk.&lt;p&gt;&lt;br&gt;------------------------------------&lt;p&gt;********************************************************************&lt;br&gt;Post message: &lt;a href="mailto:KhmerNews@yahoogroups.com"&gt;KhmerNews@yahoogroups.com&lt;/a&gt;&lt;br&gt;*Subscribe: &lt;a href="mailto:KhmerNews-subscribe@yahoogroups.com"&gt;KhmerNews-subscribe@yahoogroups.com&lt;/a&gt;&lt;br&gt;*Unsubscribe: &lt;a href="mailto:KhmerNews-unsubscribe@yahoogroups.com"&gt;KhmerNews-unsubscribe@yahoogroups.com&lt;/a&gt;&lt;br&gt;*Read messages: &lt;a href="http://www.yahoogroups.com/group/KhmerNews/messages"&gt;http://www.yahoogroups.com/group/KhmerNews/messages&lt;/a&gt;&lt;p&gt;*Moderator: &lt;a href="mailto:KhmerNews@msn.com"&gt;KhmerNews@msn.com&lt;/a&gt; (GloryCambdoadia)&lt;br&gt;For any suggestion please send to KhmerNews-owner@yahoogroups.comYahoo! 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Groups is subject to:&lt;br&gt;    &lt;a href="http://docs.yahoo.com/info/terms/"&gt;http://docs.yahoo.com/info/terms/&lt;/a&gt;</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Deficit a risky business during global crisis</title><link>http://watchcambodia.blogspot.com/2009/03/deficit-risky-business-during-global.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Thu, 5 Mar 2009 00:29:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-2611277131982313783</guid><description>Wednesday, 04 March 2009&lt;br&gt;Written by George McLeod&lt;br&gt;The Phnom Penh Post&lt;p&gt;    &amp;quot;Cambodia&amp;#39;s trade deficit has increased steadily in the past decade&lt;br&gt;    as imports have soared. In 1998, the country recorded a $364 million&lt;br&gt;    trade deficit that has grown each year since except in 2001 and&lt;br&gt;    2003, years that saw a slight dip, National Bank of Cambodia figures&lt;br&gt;    show. In 2006, the deficit for the year climbed to over $1 billion&lt;br&gt;    for the first time at $1.034 billion and since then has escalated at&lt;br&gt;    an increasing rate. In 2007, the deficit was $1.331 billion jumping&lt;br&gt;    to $1.852 billion last year, according to central bank estimates, as&lt;br&gt;    imports reached $11.47 billion.&amp;quot; - Steve Finch &lt;p&gt;Emerging markets expert Vanessa Rossi of Chatham House, the UK&amp;#39;s Royal &lt;br&gt;Institute of International Affairs, warns Cambodia may require a bailout &lt;br&gt;due to a rising accounts deficit&lt;p&gt;Asian leaders maintain that the region is in better shape than other &lt;br&gt;areas of the world. Do you believe that Asia will escape the worst &lt;br&gt;effects of the crisis?&lt;br&gt;Asia has two major problems - current accounts deficits are rising and &lt;br&gt;trade is in decline.... Over the next six months or so, countries with &lt;br&gt;current accounts deficits will run into problems.... The second issue is &lt;br&gt;trade. Trade is falling quickly, and Asia has a high percentage of &lt;br&gt;exports to GDP - with Western demand falling, this is going to hit Asian &lt;br&gt;countries hard.&lt;p&gt;The National Bank of Cambodia said the current accounts deficit may rise &lt;br&gt;from 11.2 percent of GDP in 2008 to 12.1 percent in 2009. Should that &lt;br&gt;raise concerns?&lt;br&gt;That rings bells, and it shows that this is not a regional problem - it &lt;br&gt;is a problem within certain pockets in Asia. Most Asian countries have &lt;br&gt;[current accounts] surpluses and large foreign exchange reserves, so &lt;br&gt;they are not as vulnerable to the problems that were seen during the &lt;br&gt;Asian crisis. But there are some specific spots that are exposed, and &lt;br&gt;Cambodia is one of them. Cambodia will find it very difficult to fund &lt;br&gt;these kinds of deficits with private sector capital flows.&lt;p&gt;    &amp;quot;Its worrying, especially with the cambodian central bank coming out&lt;br&gt;    with those figures.&amp;quot;&lt;p&gt;[Investment] has been buoyant in recent years but this year it is &lt;br&gt;disappearing very fast. Neighbouring Vietnam had similar problems.... &lt;br&gt;It&amp;#39;s worrying, especially with the Cambodian central bank coming out &lt;br&gt;with those figures ... and it might require an eventual IMF bailout.&lt;p&gt;    Running a deficit&lt;br&gt;    Cambodia&amp;#39;s current account balance year-on-year:&lt;p&gt;        * 2007: -8.2 percent of GDP&lt;br&gt;        * 2008: -11.2 pc of GDP (E)&lt;br&gt;        * 2009: -12.1 pc of GDP (F)&lt;p&gt;    E-estimate F-forecast&lt;br&gt;    Source: National Bank of Cambodia&lt;p&gt;What are the options available to Cambodia?&lt;br&gt;Depending on the scale of the foreign-debt buildup, one of the options &lt;br&gt;is to be discussing this with the IMF - a number of countries are &lt;br&gt;already taking pre-emptive action in talking to the IMF about &lt;br&gt;assistance, possibly the same with the World Bank, to try to be able to &lt;br&gt;tide over these capital flows.&lt;p&gt;Other policies to be considered would cut back the import bill because &lt;br&gt;you very rapidly need to reduce the trade deficit, so the government may &lt;br&gt;have to impose some kind of trade restrictions, unpopular even if they are.&lt;p&gt;Cambodia has run a current accounts deficit for years. Why is it only a &lt;br&gt;problem now?&lt;br&gt;Because if you have a deficit, you have to have a counterpart to pay for &lt;br&gt;it, so you have to have capital inflows that cover this, otherwise the &lt;br&gt;country runs out of foreign exchange reserves. And you have a balance of &lt;br&gt;payments crisis. In recent years, there have been very buoyant capital &lt;br&gt;flows, and investment coming into emerging economies. But unfortunately &lt;br&gt;with this crisis, many of these flows have not just disappeared, but &lt;br&gt;they have actually reversed. In this case, it will be very difficult to &lt;br&gt;get those flows to match continuing trade and current accounts deficits. &lt;br&gt;So the implications are quite severe.&lt;p&gt;How long can Cambodia hold on before it needs an IMF bailout?&lt;br&gt;If you look at the foreign exchange reserves, you can see how many &lt;br&gt;months of cover the country has.&lt;p&gt;I think most countries aim to have something like five or six months of &lt;br&gt;cover to protect themselves, but if you start to run this down, you face &lt;br&gt;an escalating problem of confidence in your economy.&lt;p&gt;The central banks need to be very attentive to how much reserves they &lt;br&gt;have, and not just to use up these reserves but they need to take &lt;br&gt;pre-emptive measures before they get down to two or three months.&lt;p&gt;Economist Niall Ferguson predicted that Asian economies could fare worse &lt;br&gt;than the US. How do you respond to that?&lt;br&gt;Well, there are pockets in Asia that will have to be extremely careful - &lt;br&gt;Singapore is already announcing a very big loss of GDP and there are &lt;br&gt;some very serious problems in northeast Asia with Taiwan, Korea and &lt;br&gt;Japan likely to be far worse than the US. And, of course, there are &lt;br&gt;pockets like Cambodia and Vietnam that may not be able to resist the &lt;br&gt;financial problems, as well as the trade problems. In that sense, it&amp;#39;s &lt;br&gt;quite possible, and quite ironic, that the crisis originated in the US, &lt;br&gt;but may hit hardest in other regions.&lt;p&gt;I think that many people realise that this wasn&amp;#39;t just a US financial &lt;br&gt;problem, there are genuinely difficulties with the debt situation that &lt;br&gt;has built up in other areas of the world. Its not the housing market &lt;br&gt;that&amp;#39;s the biggest problem in Cambodia, but certainly this buildup of &lt;br&gt;external debt and a dependence on capital flows is a huge risk.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>[KhmerNews] Kingdom's banks at risk: IMF</title><link>http://watchcambodia.blogspot.com/2009/02/khmernews-kingdoms-banks-at-risk-imf.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Fri, 13 Feb 2009 00:59:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-5288879695206725893</guid><description>&lt;!--~-|**|PrettyHtmlStartT|**|-~--&gt; &lt;div id="ygrp-mlmsg" style="width:655px; position:relative;"&gt; &lt;div id="ygrp-msg" style="width: 470px; margin:0; padding:0 25px 0 0; float:left; z-index:1;"&gt; &lt;!--~-|**|PrettyHtmlEndT|**|-~--&gt;      &lt;div id="ygrp-text"&gt;             &lt;p&gt;&amp;lt;&lt;a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivW49S9zzI9oaK35LrsK9a-NEcJtZK2s9sSMD8lvzaddRE_wqhRCoVsFly3v-E8GKlAjNYGGyyq_M5eC_K8sJRTEPEkwINSNIHLKvlQkYC8RrA3FcKHAhcOx47bmsA9We-SIeZ7K6lWic/s1600-h/Bank+teller+with+money+%28PPP%29.jpg"&gt;http://3.bp.&lt;wbr&gt;blogspot.&lt;wbr&gt;com/_8up7h6T0Kzc&lt;wbr&gt;/SZPbaxkOH6I/&lt;wbr&gt;AAAAAAAALjU/&lt;wbr&gt;-ioVJuIS0z4/&lt;wbr&gt;s1600-h/Bank&amp;#43;&lt;wbr&gt;teller&amp;#43;with&amp;#43;&lt;wbr&gt;money+%28PPP%&lt;wbr&gt;29.jpg&lt;/a&gt;&amp;gt;More &lt;br&gt; oversight is needed if Cambodian banks are to weather the storm, says an &lt;br&gt; IMF report. (Photo by: Heng Chivoan)&lt;br&gt; &amp;lt;&lt;a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGFCx99kpWJhOnSVUyD8L9K4fJY5dwndtxllaogAC_TMq2FMtro1wS0EINdiRnISNRH3NREa1XpJZnpkn1CqI97Ficfg5FtXmNpfuF1PncPucr4P8hOVo5pq9wcVFJZSWDmv2HIgJVHi0/s1600-h/Deposit+and+credit+growth.jpg"&gt;http://3.bp.&lt;wbr&gt;blogspot.&lt;wbr&gt;com/_8up7h6T0Kzc&lt;wbr&gt;/SZPbaqSf17I/&lt;wbr&gt;AAAAAAAALjM/&lt;wbr&gt;s8uSao-rds4/&lt;wbr&gt;s1600-h/Deposit&amp;#43;&lt;wbr&gt;and&amp;#43;credit&amp;#43;&lt;wbr&gt;growth.jpg&lt;/a&gt;&amp;gt;Thursday, &lt;br&gt; 12 February 2009&lt;br&gt; Written by George McLeod&lt;br&gt; The Phnom Penh Post&lt;br&gt; &lt;br&gt; Nonperforming loans could soar to 13 percent and reserves fall below &lt;br&gt; limits if deposits and foreign capital continue to shrink, says new report&lt;br&gt; &lt;br&gt; Cambodia's banks are under threat from rising nonperforming loans, slow &lt;br&gt; deposit growth and low liquidity, according to an International Monetary &lt;br&gt; Fund report released this week.&lt;br&gt; &lt;br&gt; If the situation deteriorates, some banks could be unable to meet the &lt;br&gt; government's minimum capital requirements, the report says.&lt;br&gt; &lt;br&gt; &amp;quot;The global financial crisis has exposed vulnerabilities among &lt;br&gt; Cambodia's banks and is beginning to affect their financial soundness,&amp;quot; &lt;br&gt; it says.&lt;br&gt; &lt;br&gt; The annual economic review adds that poor compliance with reporting &lt;br&gt; rules could mean Cambodian banks are even worse off than thought.&lt;br&gt; &lt;br&gt; The IMF assessment adds to warnings that the global financial crisis is &lt;br&gt; spreading to Cambodia's banking industry - a sector that until recently &lt;br&gt; was seen as a pillar of stability amidst falling garment exports and &lt;br&gt; dwindling tourist arrivals.&lt;br&gt; &lt;br&gt; It follows last week's annual World Bank report that also raised &lt;br&gt; concerns about the Cambodian financial sector.&lt;br&gt; &lt;br&gt; More supervision needed&lt;br&gt; &lt;br&gt; The IMF's resident representative for Cambodia said the report &lt;br&gt; highlighted the risks that Cambodian banks face in 2009 but did not &lt;br&gt; serve as a negative forecast for the sector.&lt;br&gt; &lt;br&gt; But John Nelmes told the Post Wednesday the report was a warning the &lt;br&gt; National Bank of Cambodia (NBC) needed to watch closely the sector in 2009.&lt;br&gt; &lt;br&gt; &amp;quot;There is a real need for the NBC to supervise these banks,&amp;quot; he said.&lt;br&gt; &lt;br&gt; &amp;quot;[The NBC] has got to be the first line of defence. ... In that sense, &lt;br&gt; that's where we really need to see careful work. The NBC has to increase &lt;br&gt; surveillance of the banking sector,&amp;quot; he said. He added that the IMF &lt;br&gt; noted improvements in NBC monitoring last year.&lt;br&gt; &lt;br&gt; Nelmes stressed that although liquidity was a growing concern and local &lt;br&gt; banks faced the double hit of falling deposits and declining foreign &lt;br&gt; capital, the IMF did not &amp;quot;expect [Cambodian] banks to run into trouble &lt;br&gt; [in 2009]&amp;quot;.&lt;br&gt; &lt;br&gt; &amp;quot;There is a real need for the national bank ... to supervise these&lt;br&gt;     banks.&amp;quot;&lt;br&gt; &lt;br&gt; The report says liquidity shortages have arisen at some banks. &amp;quot;In &lt;br&gt; response, banks have been raising deposit rates, drawing excess reserves &lt;br&gt; and, in a few cases, borrowing from abroad,&amp;quot; it says.&lt;br&gt; &lt;br&gt; An extreme scenario illustrated by the IMF shows non-performing loans &lt;br&gt; rising to a startling 13 percent, with six banks falling short of the &lt;br&gt; government's risk-weighted capital ratio of 15 percent.&lt;br&gt; &lt;br&gt; Falling property prices have also put pressure on the sector, the report &lt;br&gt; says. &amp;quot;Large withdrawals have reportedly been made by firms concentrated &lt;br&gt; in the property sector, notably Korean-owned banks.&amp;quot;&lt;br&gt; &lt;br&gt; John Brinsden, vice chairman of ACLEDA Bank, said his bank's deposits &lt;br&gt; have been stable.&lt;br&gt; &lt;br&gt; &amp;quot;I think that liquidity is very tight [in the banking sector as a &lt;br&gt; whole], and deposits have fallen by about one-sixth ... ACLEDA's &lt;br&gt; deposits have remained steady.&amp;quot; ACLEDA is one of the few banks that has &lt;br&gt; expanded recently by increasing its ATM coverage and launching new &lt;br&gt; branches in Laos.&lt;br&gt; &lt;br&gt; Both the IMF and World Bank warned that a number of banks were &lt;br&gt; especially at risk.&lt;br&gt; &lt;br&gt; The IMF report says &amp;quot;several large [banks] could face a large &lt;br&gt; deterioration in credit quality and a need for recapitalisation, &lt;br&gt; depending on the magnitude of the current slowdown&amp;quot;.&lt;br&gt; &lt;br&gt; The World Bank report mentions &amp;quot;two large banks&amp;quot; being at risk from &lt;br&gt; nonperforming loans.&lt;br&gt; &lt;br&gt; Spokesmen for the IMF and the World Bank would not name the banks in &lt;br&gt; question, but industry sources have identified Canadia and Vattanac Bank &lt;br&gt; as of particular concern.&lt;br&gt; &lt;br&gt; &amp;quot;These banks are believed to be overexposed to the property sector,&amp;quot; one &lt;br&gt; anonymous source said. &amp;quot;We are also watching a couple of others.&amp;quot;&lt;br&gt; &lt;br&gt; But Charles Vann, deputy general manager of Canadia Bank, said finances &lt;br&gt; remained solid. &amp;quot;These are just rumours. As far as I know, Canadia's &lt;br&gt; finances remain strong.&amp;quot;&lt;br&gt; &lt;br&gt; He said that the bank's liquidity and deposits been steady over the past &lt;br&gt; three months.&lt;br&gt; &lt;br&gt; Vattanac Bank would not respond to requests for comment.&lt;br&gt; &lt;/p&gt;        &lt;/div&gt;        &lt;!--~-|**|PrettyHtmlStart|**|-~--&gt;                     &lt;div width="1" style="color: white; clear: both;"&gt;__._,_.___&lt;/div&gt;     &lt;!-- Start the section with Message In topic --&gt;     &lt;div id="ygrp-actbar" style="clear: both; margini-bottom: 25px; white-space:nowrap; color: #666; text-align: right;"&gt;               &lt;span class="left" style="float: left; white-space:nowrap;"&gt;           &lt;a href="http://groups.yahoo.com/group/KhmerNews/message/1011;_ylc=X3oDMTM1MnM5ZGJhBF9TAzk3MzU5NzE0BGdycElkAzEwNjc1Mjk5BGdycHNwSWQDMTcwNTQ0NDQ5OQRtc2dJZAMxMDExBHNlYwNmdHIEc2xrA3Z0cGMEc3RpbWUDMTIzNDQ2MTU3OQR0cGNJZAMxMDEx"&gt;             Messages in this topic          &lt;/a&gt; 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(Photo by: Heng Chivoan)&lt;br&gt; &amp;lt;&lt;a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGFCx99kpWJhOnSVUyD8L9K4fJY5dwndtxllaogAC_TMq2FMtro1wS0EINdiRnISNRH3NREa1XpJZnpkn1CqI97Ficfg5FtXmNpfuF1PncPucr4P8hOVo5pq9wcVFJZSWDmv2HIgJVHi0/s1600-h/Deposit+and+credit+growth.jpg"&gt;http://3.bp.&lt;wbr&gt;blogspot.&lt;wbr&gt;com/_8up7h6T0Kzc&lt;wbr&gt;/SZPbaqSf17I/&lt;wbr&gt;AAAAAAAALjM/&lt;wbr&gt;s8uSao-rds4/&lt;wbr&gt;s1600-h/Deposit&amp;#43;&lt;wbr&gt;and&amp;#43;credit&amp;#43;&lt;wbr&gt;growth.jpg&lt;/a&gt;&amp;gt;Thursday, &lt;br&gt; 12 February 2009&lt;br&gt; Written by George McLeod&lt;br&gt; The Phnom Penh Post&lt;br&gt; &lt;br&gt; Nonperforming loans could soar to 13 percent and reserves fall below &lt;br&gt; limits if deposits and foreign capital continue to shrink, says new report&lt;br&gt; &lt;br&gt; Cambodia's banks are under threat from rising nonperforming loans, slow &lt;br&gt; deposit growth and low liquidity, according to an International Monetary &lt;br&gt; Fund report released this week.&lt;br&gt; &lt;br&gt; If the situation deteriorates, some banks could be unable to meet the &lt;br&gt; government's minimum capital requirements, the report says.&lt;br&gt; &lt;br&gt; &amp;quot;The global financial crisis has exposed vulnerabilities among &lt;br&gt; Cambodia's banks and is beginning to affect their financial soundness,&amp;quot; &lt;br&gt; it says.&lt;br&gt; &lt;br&gt; The annual economic review adds that poor compliance with reporting &lt;br&gt; rules could mean Cambodian banks are even worse off than thought.&lt;br&gt; &lt;br&gt; The IMF assessment adds to warnings that the global financial crisis is &lt;br&gt; spreading to Cambodia's banking industry - a sector that until recently &lt;br&gt; was seen as a pillar of stability amidst falling garment exports and &lt;br&gt; dwindling tourist arrivals.&lt;br&gt; &lt;br&gt; It follows last week's annual World Bank report that also raised &lt;br&gt; concerns about the Cambodian financial sector.&lt;br&gt; &lt;br&gt; More supervision needed&lt;br&gt; &lt;br&gt; The IMF's resident representative for Cambodia said the report &lt;br&gt; highlighted the risks that Cambodian banks face in 2009 but did not &lt;br&gt; serve as a negative forecast for the sector.&lt;br&gt; &lt;br&gt; But John Nelmes told the Post Wednesday the report was a warning the &lt;br&gt; National Bank of Cambodia (NBC) needed to watch closely the sector in 2009.&lt;br&gt; &lt;br&gt; &amp;quot;There is a real need for the NBC to supervise these banks,&amp;quot; he said.&lt;br&gt; &lt;br&gt; &amp;quot;[The NBC] has got to be the first line of defence. ... In that sense, &lt;br&gt; that's where we really need to see careful work. The NBC has to increase &lt;br&gt; surveillance of the banking sector,&amp;quot; he said. He added that the IMF &lt;br&gt; noted improvements in NBC monitoring last year.&lt;br&gt; &lt;br&gt; Nelmes stressed that although liquidity was a growing concern and local &lt;br&gt; banks faced the double hit of falling deposits and declining foreign &lt;br&gt; capital, the IMF did not &amp;quot;expect [Cambodian] banks to run into trouble &lt;br&gt; [in 2009]&amp;quot;.&lt;br&gt; &lt;br&gt; &amp;quot;There is a real need for the national bank ... to supervise these&lt;br&gt;     banks.&amp;quot;&lt;br&gt; &lt;br&gt; The report says liquidity shortages have arisen at some banks. &amp;quot;In &lt;br&gt; response, banks have been raising deposit rates, drawing excess reserves &lt;br&gt; and, in a few cases, borrowing from abroad,&amp;quot; it says.&lt;br&gt; &lt;br&gt; An extreme scenario illustrated by the IMF shows non-performing loans &lt;br&gt; rising to a startling 13 percent, with six banks falling short of the &lt;br&gt; government's risk-weighted capital ratio of 15 percent.&lt;br&gt; &lt;br&gt; Falling property prices have also put pressure on the sector, the report &lt;br&gt; says. &amp;quot;Large withdrawals have reportedly been made by firms concentrated &lt;br&gt; in the property sector, notably Korean-owned banks.&amp;quot;&lt;br&gt; &lt;br&gt; John Brinsden, vice chairman of ACLEDA Bank, said his bank's deposits &lt;br&gt; have been stable.&lt;br&gt; &lt;br&gt; &amp;quot;I think that liquidity is very tight [in the banking sector as a &lt;br&gt; whole], and deposits have fallen by about one-sixth ... ACLEDA's &lt;br&gt; deposits have remained steady.&amp;quot; ACLEDA is one of the few banks that has &lt;br&gt; expanded recently by increasing its ATM coverage and launching new &lt;br&gt; branches in Laos.&lt;br&gt; &lt;br&gt; Both the IMF and World Bank warned that a number of banks were &lt;br&gt; especially at risk.&lt;br&gt; &lt;br&gt; The IMF report says &amp;quot;several large [banks] could face a large &lt;br&gt; deterioration in credit quality and a need for recapitalisation, &lt;br&gt; depending on the magnitude of the current slowdown&amp;quot;.&lt;br&gt; &lt;br&gt; The World Bank report mentions &amp;quot;two large banks&amp;quot; being at risk from &lt;br&gt; nonperforming loans.&lt;br&gt; &lt;br&gt; Spokesmen for the IMF and the World Bank would not name the banks in &lt;br&gt; question, but industry sources have identified Canadia and Vattanac Bank &lt;br&gt; as of particular concern.&lt;br&gt; &lt;br&gt; &amp;quot;These banks are believed to be overexposed to the property sector,&amp;quot; one &lt;br&gt; anonymous source said. &amp;quot;We are also watching a couple of others.&amp;quot;&lt;br&gt; &lt;br&gt; But Charles Vann, deputy general manager of Canadia Bank, said finances &lt;br&gt; remained solid. &amp;quot;These are just rumours. As far as I know, Canadia's &lt;br&gt; finances remain strong.&amp;quot;&lt;br&gt; &lt;br&gt; He said that the bank's liquidity and deposits been steady over the past &lt;br&gt; three months.&lt;br&gt; &lt;br&gt; Vattanac Bank would not respond to requests for comment.&lt;br&gt; &lt;/p&gt;        &lt;/div&gt;        &lt;!--~-|**|PrettyHtmlStart|**|-~--&gt;                     &lt;div width="1" style="color: white; clear: both;"&gt;__._,_.___&lt;/div&gt;     &lt;!-- Start the section with Message In topic --&gt;     &lt;div id="ygrp-actbar" style="clear: both; margini-bottom: 25px; white-space:nowrap; color: #666; text-align: right;"&gt;               &lt;span class="left" style="float: left; white-space:nowrap;"&gt;           &lt;a href="http://groups.yahoo.com/group/pimex/message/63;_ylc=X3oDMTMxMzdzcGRsBF9TAzk3MzU5NzE0BGdycElkAzIzMTA0NzE2BGdycHNwSWQDMTcwNTQxNjA0NQRtc2dJZAM2MwRzZWMDZnRyBHNsawN2dHBjBHN0aW1lAzEyMzQ0NjE1NzgEdHBjSWQDNjM-"&gt;             Messages in this topic          &lt;/a&gt; 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(Photo by: Heng Chivoan)&lt;br&gt;&amp;lt;&lt;a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGFCx99kpWJhOnSVUyD8L9K4fJY5dwndtxllaogAC_TMq2FMtro1wS0EINdiRnISNRH3NREa1XpJZnpkn1CqI97Ficfg5FtXmNpfuF1PncPucr4P8hOVo5pq9wcVFJZSWDmv2HIgJVHi0/s1600-h/Deposit+and+credit+growth.jpg"&gt;https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGFCx99kpWJhOnSVUyD8L9K4fJY5dwndtxllaogAC_TMq2FMtro1wS0EINdiRnISNRH3NREa1XpJZnpkn1CqI97Ficfg5FtXmNpfuF1PncPucr4P8hOVo5pq9wcVFJZSWDmv2HIgJVHi0/s1600-h/Deposit+and+credit+growth.jpg&lt;/a&gt;&amp;gt;Thursday, &lt;br&gt;12 February 2009&lt;br&gt;Written by George McLeod&lt;br&gt;The Phnom Penh Post&lt;p&gt;Nonperforming loans could soar to 13 percent and reserves fall below &lt;br&gt;limits if deposits and foreign capital continue to shrink, says new report&lt;p&gt;Cambodia&amp;#39;s banks are under threat from rising nonperforming loans, slow &lt;br&gt;deposit growth and low liquidity, according to an International Monetary &lt;br&gt;Fund report released this week.&lt;p&gt;If the situation deteriorates, some banks could be unable to meet the &lt;br&gt;government&amp;#39;s minimum capital requirements, the report says.&lt;p&gt;&amp;quot;The global financial crisis has exposed vulnerabilities among &lt;br&gt;Cambodia&amp;#39;s banks and is beginning to affect their financial soundness,&amp;quot; &lt;br&gt;it says.&lt;p&gt;The annual economic review adds that poor compliance with reporting &lt;br&gt;rules could mean Cambodian banks are even worse off than thought.&lt;p&gt;The IMF assessment adds to warnings that the global financial crisis is &lt;br&gt;spreading to Cambodia&amp;#39;s banking industry - a sector that until recently &lt;br&gt;was seen as a pillar of stability amidst falling garment exports and &lt;br&gt;dwindling tourist arrivals.&lt;p&gt;It follows last week&amp;#39;s annual World Bank report that also raised &lt;br&gt;concerns about the Cambodian financial sector.&lt;p&gt;More supervision needed&lt;p&gt;The IMF&amp;#39;s resident representative for Cambodia said the report &lt;br&gt;highlighted the risks that Cambodian banks face in 2009 but did not &lt;br&gt;serve as a negative forecast for the sector.&lt;p&gt;But John Nelmes told the Post Wednesday the report was a warning the &lt;br&gt;National Bank of Cambodia (NBC) needed to watch closely the sector in 2009.&lt;p&gt;&amp;quot;There is a real need for the NBC to supervise these banks,&amp;quot; he said.&lt;p&gt;&amp;quot;[The NBC] has got to be the first line of defence. ... In that sense, &lt;br&gt;that&amp;#39;s where we really need to see careful work. The NBC has to increase &lt;br&gt;surveillance of the banking sector,&amp;quot; he said. He added that the IMF &lt;br&gt;noted improvements in NBC monitoring last year.&lt;p&gt;Nelmes stressed that although liquidity was a growing concern and local &lt;br&gt;banks faced the double hit of falling deposits and declining foreign &lt;br&gt;capital, the IMF did not &amp;quot;expect [Cambodian] banks to run into trouble &lt;br&gt;[in 2009]&amp;quot;.&lt;p&gt;    &amp;quot;There is a real need for the national bank ... to supervise these&lt;br&gt;    banks.&amp;quot;&lt;p&gt;The report says liquidity shortages have arisen at some banks. &amp;quot;In &lt;br&gt;response, banks have been raising deposit rates, drawing excess reserves &lt;br&gt;and, in a few cases, borrowing from abroad,&amp;quot; it says.&lt;p&gt;An extreme scenario illustrated by the IMF shows non-performing loans &lt;br&gt;rising to a startling 13 percent, with six banks falling short of the &lt;br&gt;government&amp;#39;s risk-weighted capital ratio of 15 percent.&lt;p&gt;Falling property prices have also put pressure on the sector, the report &lt;br&gt;says. &amp;quot;Large withdrawals have reportedly been made by firms concentrated &lt;br&gt;in the property sector, notably Korean-owned banks.&amp;quot;&lt;p&gt;John Brinsden, vice chairman of ACLEDA Bank, said his bank&amp;#39;s deposits &lt;br&gt;have been stable.&lt;p&gt;&amp;quot;I think that liquidity is very tight [in the banking sector as a &lt;br&gt;whole], and deposits have fallen by about one-sixth ... ACLEDA&amp;#39;s &lt;br&gt;deposits have remained steady.&amp;quot; ACLEDA is one of the few banks that has &lt;br&gt;expanded recently by increasing its ATM coverage and launching new &lt;br&gt;branches in Laos.&lt;p&gt;Both the IMF and World Bank warned that a number of banks were &lt;br&gt;especially at risk.&lt;p&gt;The IMF report says &amp;quot;several large [banks] could face a large &lt;br&gt;deterioration in credit quality and a need for recapitalisation, &lt;br&gt;depending on the magnitude of the current slowdown&amp;quot;.&lt;p&gt;The World Bank report mentions &amp;quot;two large banks&amp;quot; being at risk from &lt;br&gt;nonperforming loans.&lt;p&gt;Spokesmen for the IMF and the World Bank would not name the banks in &lt;br&gt;question, but industry sources have identified Canadia and Vattanac Bank &lt;br&gt;as of particular concern.&lt;p&gt;&amp;quot;These banks are believed to be overexposed to the property sector,&amp;quot; one &lt;br&gt;anonymous source said. &amp;quot;We are also watching a couple of others.&amp;quot;&lt;p&gt;But Charles Vann, deputy general manager of Canadia Bank, said finances &lt;br&gt;remained solid. &amp;quot;These are just rumours. As far as I know, Canadia&amp;#39;s &lt;br&gt;finances remain strong.&amp;quot;&lt;p&gt;He said that the bank&amp;#39;s liquidity and deposits been steady over the past &lt;br&gt;three months.&lt;p&gt;Vattanac Bank would not respond to requests for comment.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>Tourist sector calls for help</title><link>http://watchcambodia.blogspot.com/2009/02/tourist-sector-calls-for-help.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Wed, 11 Feb 2009 20:11:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-1797315996357385027</guid><description>10 Feb 2009&lt;br&gt;By Ky Soklim&lt;br&gt;Cambodge Soir Hebdo&lt;br&gt;Translated from French by Tola Ek&lt;br&gt;Click here to read the article in French &lt;br&gt;&amp;lt;&lt;a href="http://www.cambodgesoir.info/content.php?itemid=35460&amp;amp;p="&gt;http://www.cambodgesoir.info/content.php?itemid=35460&amp;amp;p=&lt;/a&gt;&amp;gt;&lt;p&gt;Representatives of the working group from the tourism private sector and &lt;br&gt;officials from the ministry of Tourism will meet each other on Thursday &lt;br&gt;12 February, to stimulate a restart in tourist activities which were hit &lt;br&gt;hard in 2008 from the worldwide economic crisis.&lt;p&gt;Ho Vandy, the former president of the Association of tourist agencies in &lt;br&gt;Cambodia, declared that the private tourist sector will submit several &lt;br&gt;proposals to the ministry, and that it hopes that the ministry will take &lt;br&gt;them into serious consideration.&lt;p&gt;The private sector&amp;#39;s proposals mainly point to a lowering price of the &lt;br&gt;&amp;quot;tourist package,&amp;quot; such as, lower cost for airfare, lower access fee to &lt;br&gt;tourist sites managed by private companies, lower hotel cost, as well as &lt;br&gt;lower visa fee. &amp;quot;We want to offer a special tourist package to face the &lt;br&gt;crisis period,&amp;quot; Ho Vandy said. &amp;quot;If the government accepts it, we hope to &lt;br&gt;pull up the tourist sector,&amp;quot; he indicated.&lt;p&gt;Since the crisis affected the tourist sector in Cambodia, people &lt;br&gt;involved in this sector are complaining about a significant loss of &lt;br&gt;revenue. Each year, Cambodia welcomes more than 2 million visitors who &lt;br&gt;spend more than $1.4 billion. In 2008, the number of visitors increased &lt;br&gt;only by 5%, this is much lower that the 17% growth recorded in 2007.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item><item><title>[Fwd: The kingdom ticking on Chinese time]</title><link>http://watchcambodia.blogspot.com/2009/01/fwd-kingdom-ticking-on-chinese-time.html</link><author>noreply@blogger.com (KhmerNews)</author><pubDate>Tue, 27 Jan 2009 19:32:00 +0700</pubDate><guid isPermaLink="false">tag:blogger.com,1999:blog-3082138572689542082.post-7889382124962540459</guid><description>26 Jan 2009&lt;br&gt;By Ky Soklim&lt;br&gt;Cambodge Soir Hebdo&lt;br&gt;Translated from French by Tola Ek&lt;br&gt;Click here to read the article in French &lt;br&gt;&amp;lt;&lt;a href="http://www.cambodgesoir.info/content.php?itemid=35388&amp;amp;p="&gt;http://www.cambodgesoir.info/content.php?itemid=35388&amp;amp;p=&lt;/a&gt;&amp;gt;&lt;p&gt;A city with empty streets, empty schools, absent civil servants, this is &lt;br&gt;the atmosphere in Cambodia during the Chinese New Year which is &lt;br&gt;celebrated on 26 January, in spite of the fact that this date is not an &lt;br&gt;official holiday. Even with the presence of a strong Sino-Khmer &lt;br&gt;community, one has to note that even &amp;quot;middle-class Cambodians&amp;quot; follow &lt;br&gt;the Chinese custom.&lt;p&gt;An anonymous civil servant from the ministry of Education claims that &lt;br&gt;20% of the personnel from his department came to work late on Monday 26 &lt;br&gt;January. However, the remaining 80% of the workers are still absent from &lt;br&gt;their work. &amp;quot;I came to the office, but I cannot do anything. So, I will &lt;br&gt;return home,&amp;quot; the man said.&lt;p&gt;According to observers of the Cambodian society, China&amp;#39;s influence is &lt;br&gt;taking a stronger grip on the country, in all fields, from the economy &lt;br&gt;to politics, to culture. For example, between 2003 and 2008, China &lt;br&gt;became the top investor in Cambodia. In the tourism sector, China brings &lt;br&gt;in about one fifth of foreign visitors, number wise. Chinese diplomatic &lt;br&gt;and political influence also carries a stronger weight as China is &lt;br&gt;becoming the top bilateral aid donor. China recently financed the &lt;br&gt;construction of the building housing the Council of Ministers at a cost &lt;br&gt;of $30 million.&lt;p&gt;As for language, an estimate of 700,000 people, both Cambodians and &lt;br&gt;Sino-Khmers, are studying Chinese.</description><thr:total xmlns:thr="http://purl.org/syndication/thread/1.0">0</thr:total></item></channel></rss>