Article posted on Youtube by Phanith
A [South] Korean company, which announced to invest approximately $2 billion in Cambodia, giving the image that this will be foreign investment, finally will use the money of Khmer citizens to build a city. An economic analyst said that such kind of an investment game would not be accepted by any country except Cambodia.
"At the Council for the Development of Cambodia, capital of approximately $2 billion had been announced, and this figure was used to be included in the development report, describing it as part of Cambodia's economic growth, but finally this development company makes cake without flour, because it conducts the development of a sister city by starting to announce the sale of houses and land to Khmer citizens to get money to construct the buildings. Thus, it now advertises the sale of flats and of condominiums to start on 25 June, and those who visit the scheme of the sister city would sign contracts to buy such condominiums, and the company would later provide them. However, the condominiums do not yet exist; therefore, money has to be deposited so that the company uses the money to construct the condominiums.
"The plan of the sister city looks to be real, as Khmer citizens assume that the Korean company really brings $2 billion to build a city in Cambodia; in fact, the plan is just empty of any capital, the real money is the money of domestic Khmer citizens. The announcement is for the sale of houses that do not yet exist to Khmer citizens, so they will deposit money that will be used to build houses for them. Hence, the company comes to develop Cambodia using Khmer land, collecting money from Khmer citizens, to build houses and then sell them to Khmer citizens. Such kind of development cannot be accepted by other countries, but for Cambodia it is made available.
"According to the scheme and the model of the houses which look even more luxurious than buildings in America and France, it is announced that the sister city will cost $2 billion. However, the Korean investor does not bring $2 billion to construct the buildings, but they collect the money from Khmer citizens to construct the buildings, by selling houses that do not yet exist to Khmer citizens.
"So far, Khmer businesspeople or local companies also announce the sale of houses, or to build houses for sale, but they make such announcements after the constructions are 70% completed; they do not sell only the plan and demand Khmer citizens or customers to deposit money, so as to use the money from their customers to build houses. Therefore, the Korean company that announces the construction of a sister city should at least invest half of the capital to build the city, so the construction of houses is 50% completed before it advertises the sale of houses and collects deposits from the citizens who are their customers.
"However, it is funny that while not one flat has been constructed, the company announces the sale of flats to collect money; this is equal to making cake without flour, because it just shows the plan to the customers, and it announces the sale of houses and collects money. However, the government likes such kind of investors and allows them to enter the country, because they know how to go along with the way in which things flow in Cambodia, as long as Khmer officials and Khmer leaders get money or benefits from them.
"As for Japanese investors, if they come to invest that means they really come, they really bring money to do business; therefore, Khmer officials do not benefit from them, therefore Japanese investors did not come to Cambodia. For that reason it is difficult for Cambodia to attract Japanese investors, because they do not want to make cake without flour, or to farm on Khmer citizens' backs like Chinese and Korean investors do.
"An economic analyst said that the Korean company which plans to constructs Camko City also opens a bank with the name Camko. The bank is located in [National Police Director-General] Hok Lundy's villa on Norodom Boulevard. It is not known whether Hok Lundy holds shares of the bank, or whether he sold or rents the house to the Korean company, but Hok Lundy and the company are very close to each other.
"The economic analyst said that in other countries, the buying and selling of immovable property is very carefully monitored for fear of money laundering through such transactions. Also in Cambodia, it is easy to use much money for money laundering. Consequently, it is also necessary to be cautious about the Camko Bank, because this bank is for collecting the money from the sale of immovable property in the Camko Sister City; different images can be used to conduct money laundering under the pretext of trade in immovable property."
A [South] Korean company, which announced to invest approximately $2 billion in Cambodia, giving the image that this will be foreign investment, finally will use the money of Khmer citizens to build a city. An economic analyst said that such kind of an investment game would not be accepted by any country except Cambodia.
"At the Council for the Development of Cambodia, capital of approximately $2 billion had been announced, and this figure was used to be included in the development report, describing it as part of Cambodia's economic growth, but finally this development company makes cake without flour, because it conducts the development of a sister city by starting to announce the sale of houses and land to Khmer citizens to get money to construct the buildings. Thus, it now advertises the sale of flats and of condominiums to start on 25 June, and those who visit the scheme of the sister city would sign contracts to buy such condominiums, and the company would later provide them. However, the condominiums do not yet exist; therefore, money has to be deposited so that the company uses the money to construct the condominiums.
"The plan of the sister city looks to be real, as Khmer citizens assume that the Korean company really brings $2 billion to build a city in Cambodia; in fact, the plan is just empty of any capital, the real money is the money of domestic Khmer citizens. The announcement is for the sale of houses that do not yet exist to Khmer citizens, so they will deposit money that will be used to build houses for them. Hence, the company comes to develop Cambodia using Khmer land, collecting money from Khmer citizens, to build houses and then sell them to Khmer citizens. Such kind of development cannot be accepted by other countries, but for Cambodia it is made available.
"According to the scheme and the model of the houses which look even more luxurious than buildings in America and France, it is announced that the sister city will cost $2 billion. However, the Korean investor does not bring $2 billion to construct the buildings, but they collect the money from Khmer citizens to construct the buildings, by selling houses that do not yet exist to Khmer citizens.
"So far, Khmer businesspeople or local companies also announce the sale of houses, or to build houses for sale, but they make such announcements after the constructions are 70% completed; they do not sell only the plan and demand Khmer citizens or customers to deposit money, so as to use the money from their customers to build houses. Therefore, the Korean company that announces the construction of a sister city should at least invest half of the capital to build the city, so the construction of houses is 50% completed before it advertises the sale of houses and collects deposits from the citizens who are their customers.
"However, it is funny that while not one flat has been constructed, the company announces the sale of flats to collect money; this is equal to making cake without flour, because it just shows the plan to the customers, and it announces the sale of houses and collects money. However, the government likes such kind of investors and allows them to enter the country, because they know how to go along with the way in which things flow in Cambodia, as long as Khmer officials and Khmer leaders get money or benefits from them.
"As for Japanese investors, if they come to invest that means they really come, they really bring money to do business; therefore, Khmer officials do not benefit from them, therefore Japanese investors did not come to Cambodia. For that reason it is difficult for Cambodia to attract Japanese investors, because they do not want to make cake without flour, or to farm on Khmer citizens' backs like Chinese and Korean investors do.
"An economic analyst said that the Korean company which plans to constructs Camko City also opens a bank with the name Camko. The bank is located in [National Police Director-General] Hok Lundy's villa on Norodom Boulevard. It is not known whether Hok Lundy holds shares of the bank, or whether he sold or rents the house to the Korean company, but Hok Lundy and the company are very close to each other.
"The economic analyst said that in other countries, the buying and selling of immovable property is very carefully monitored for fear of money laundering through such transactions. Also in Cambodia, it is easy to use much money for money laundering. Consequently, it is also necessary to be cautious about the Camko Bank, because this bank is for collecting the money from the sale of immovable property in the Camko Sister City; different images can be used to conduct money laundering under the pretext of trade in immovable property."
19 comments:
Cambodia will someday become a world most beautiful city after all the sufferings she went through.
Jeyo Cambodia!
Jeyo Khmers!
The video is awesome, however, I'm disappointed with the music in the background. It should be Khmer music.
Frankly, it is a no brainer! Anybody can figure that out with no sweat. There are hundreds of thousands of Koun Khmer educators that are willing to sacrifice to rebuild our country. The sparehead is the problem.
According to the video, $2 billions only can build a few tall buildings and some new roads. The rest are just marketing picture through computer graphic. I will not let them collect my $200 thousand for a townhome that is not even exist. These guys will run with the money, Hok Lundy will protect them always.
Well, hopefully our dam Prime Minister, Hun Sen, is not gonna demolish the city just of the matter of his bad hot temper. Don’t be so pessimistic with this project because all those places are just for those rich folks. Don’t ever dream that they are, South Korean going to use their money to invest in Cambodia because we have a very stupid Prime Minister on Earth.
Whatever, you cannot have all, at least we have some body build the city for us; and our people will have jobs. Step by step.
Korean has a master-planned international business district to develop New Songdo City in South Korea for $25 billion and I have yet to see the whole city go up. Ahahahahhh.
I say in any business if the people ask to see your money first and you better run as fast as you can away from them and don't ever look back! Just run and keep on running until you ran out of breath!
I really congratulate the project and accomplishment. Who have money to buy it???????
Only cost $2B to build the whole thing? I don't believe it, that's way too cheap. Also does any trust Hun Lundy? When business is involve with the police chief, something isn't right.
I heard most of the land in that area belongs to Hun Sen and his family. Hun Sen and his family become even richer.
"Making Cake without flour & Sugar"
later on who will suffer ???
Long Chhin.... now Camko & 7NG ??? who plan Camko city & 7NG who collect money from Cambodians every month as he delared to provide them(now at least 5,000 people have spent for that) a plate/per capita located 15km from center of PPenh..... do you beleive that??? All Khmers pls be careful with those investors & Officials who allowed 7NG to do so...do you trust that Long Chhin will pay back those victims??? however government ordered to long Chhin to compensate... long Chhin remained only USD 4,000 in his Bank Account in Cambodia..... Khmer Victims pls take those USD 4,000 conficated by our government to cover your loss ..................
Excellency Bandit General 7 diamond stars Oknha Achar Knoy - Phd. in Bandit from Chea Chamroeun Unversity
Dear Khmer,
I just want to share the attention with you that be careful for the Korean companies, many of you may experinced that some Korean language schools which assure to find jobs for Cambodian in Korea has been collected a lot of money from poor Cambodian.
In Cambodia you can freely pay to TV, Radio Broadcast to advertise your business.......And not difficult to get Phd. from Chea Chamroeun Univ.
as you may watch Camko Video which is just "a Computer Animation only "
Be careful to do business with those guys(Investors...Korean, Chinese(both Main land & Islands)
As Cambodians we still have space to be in our population density is still low enough to live in just Flat or Villa in our Villages etc.. NO NEED to live in Condo. of Sky crapper etc.. 42 storey or higher.....
The People Dignity, Prosperity, High Living Standard etcc. is not based on High Rise Building-- it seems just to outside Looking but it may cause may problems, turmoil to our Society....and it makes easy for some high Officials & Business men to make money
BE CAREFULL.......
FROM: Excellency Bandit Minister & General 7 diamond stars & Oknha Achar Knoy - Phd. in Bandit from Chea Chamroeun Unversity
It's good to watch out for your money. Test the water before you jump in with two feet. Although it can be true, it also could be a cut and run. The animation of village should not be the front to buy it. The Korean investors have to prove us they are serious investors. If they serious investors they should put the money to build them before you put your money to buy it. If they don't, don't buy it. With the amount of money you have to put in, it could make a difference in the way you live your life. So please just becareful, don't be quick to believe them. They got a huge break already from the government to have allowed them the opportunity.
Well, i believed that the Kob Srove would be the greatest experience ever for our Cambodian people who try to invest a big amount of money for real estate. Heh at least, we has some cool places to visit when i go back to my country.
What do you expect from people wha can read and write? Joint them you are doom, sooner or later!
the crook, the foreigners, the evol are behind those iletteral stupid Cambodian!
Cambodia is the poorest country, and when he rleader is not an educated and not wise of doing good deeds but bad only like green deal for example, Cambodia needs all helps.
Looklikes Cambodia has all major rich nations from far east come to do business: Chinese, Vietnamese, Japanese and Korean.
We cannot trust any business men, not only Korean or Chinese, but we need food to put on our tables.
Some our Khmer business men like Kith does more harm to his own people. Whatever or whereever we go we face cheaters, so let's the game begins by helping our poor people to have food first then go to the next step.
Cone people,
Do you want to see Cambodia still in the 20th century or in the 21th. Look at the Thais and Viets and see how they have built their countries. Capitalism, like the States, Canada, and other European countries, is based on building the rich first. I don't thing anyone of you want to go back to the communism back in the 80s. Nothing is wrong with living in a high-rise building.
Regarding the Camko city. Companies in developed countries, like US and Canada, sell their projects 2 to 3 years before they build them. It is normal. Buy it now is cheaper then buy it then. I bought my new home two years ago before it was built and just moved in last month. If I sell it today, I would make 10% profit.
Cheers,
What ever is the game plan... who cares who is investing? This is business & politics although very primitive but don't worry it will develop further. The worst is yet to come when public will not notice.
On contrary I read in Cambodia Daily that 200 million dollar worth of property will be given to the government to house their senate office...absolutely free!!! "Now Take that piece of share and keep shut"...who said this to whom?
Any guess who gets the best locations for beautiful pent houses or river facing villas? Easy one!!!
The project is yet to build up but the sales have started, the deposits are taken. I also heard it is mostly sold out... now doesn't this explain how hungry our people are for land and houses? Korean thought further...lets sell their land to them and make some quick bucks and get out asap. Just imagine if this company is a fraud.. who are the fools at the end of this? I hope the real estate bubble doesn't burst in cambodia.
The videos great!!
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