2 March 2009
Canadia Bank heading for bankruptcy (2)
As a result of the world financial crisis and general credit crunch, Cambodia's most prominent bank, Canadia, is in serious trouble and may be heading for bankruptcy. The IMF had warned in a report last month: "The global financial crisis has exposed vulnerabilities among Cambodia's banks and is beginning to affect their financial soundness." A World Bank annual report published also in February also raised concerns about the Cambodian financial sector, which is suffering from falling deposits, declining foreign capital, plummeting property prices and increasing nonperforming loans.
According to the IMF, poor compliance with reporting rules could mean Cambodian banks are even worse off than thought. Both the IMF and the World Bank warned that a number of banks were especially at risk. According to the IMF, "several large [banks] could face a large deterioration in credit quality and a need for recapitalization." According to the World Bank, "two large banks" are at serious risk from nonperforming loans. Industry sources have identified Canadia as one of the two banks given its overexposure to the property sector. Panicked clients are reportedly making non-stop withdrawals.
Real reason behind decision to crackdown on gambling dens (2)
Last week Prime Minister Hun Sen ordered a crackdown on sport and electronic gambling establishments. He condemned gambling as a social evil. But, since everybody fully knows that gambling is associated with rising crime, why has the government not only authorized but encouraged and promoted gambling activities in the first place? The gambling industry has been thriving in Cambodia since the early 1990's.
Actually the crackdown reflects Hun Sen's concern about who collects huge amounts of under-the-table money from gambling activities. It used to be Hok Lundy, the former National Police Director who died in a helicopter crash last November. Now the authority over the Police is in the hands of Interior Minister Sar Kheng who finds himself in a position to collect up to US$10 million a month of bribes from all sorts of gambling dens. Hun Sen's ongoing measures against gambling actually aim at reaching a new deal for the collection of illicit money from the gambling industry by different clans within the ruling CPP.
In a report titled "Casinos adapt to survive gaming ban" in today's Phnom Penh Post, the manager of a well-known gambling club, The Atlantic, said that his club contributed US$7,000 in taxes each month to the treasury [and] US$5,000 on under-the-table payments to the local authorities.
Read The Phnom Penh Post article at http://tinyurl.com/clbcy9
Bankrupt textile companies leave Cambodia without paying workers' salaries (1)
As a result of the global economic crisis an increasing number of foreign-owned textile companies have been declared bankrupt. They have abruptly laid off thousands of workers without paying their salaries. In order to defend workers' interest and to prevent social unrest, opposition members of parliament have written to the government suggesting that appropriate reserve funds be deposited by textile companies at the national treasury so as to secure payment of workers' salaries in case of bankruptcy.
Read the letter in Khmer at http://tinyurl.com/b9g6qu
Foreign expert implies Hor Nam Hong should be prosecuted (1)
In an interview in the February 19 edition of The Phnom Penh Post, foreign Khmer Rouge expert Raoul Jennar said: "The archives tell us that there were people, at the head of security centers, who ordered and supervised the massacre of hundreds and even thousands of Cambodians during the Democratic Kampuchea [Khmer Rouge] period. Some of these people live freely. Why do we only pursue the director of S-21 [Kaing Guek Eav alias Duch, the former chief of the Tuol Sleng notorious prison known as S-21] when there were 196 security centers across Cambodia? Justice is not choosing a few scapegoats to make an example of."
According to official Khmer Rouge documents from S-21, current Foreign Minister Hor Nam Hong was the chief or "president" of another Khmer Rouge prison, the Boeng Trabek reeducation camp known as B-32. Hor Nam Hong publicly recognizes that he was the "president of a prisoner committee" at B-32.
Both S-21 and B-32 are listed among the 196 security centers.
Read full interview of Raoul Jennar at http://tinyurl.com/ap9srv
See the list of the 196 Khmer Rouge security centers (# 121 for S-21 and # 122 for B-32) at http://tinyurl.com/brfdvy
[End]
As a result of the world financial crisis and general credit crunch, Cambodia's most prominent bank, Canadia, is in serious trouble and may be heading for bankruptcy. The IMF had warned in a report last month: "The global financial crisis has exposed vulnerabilities among Cambodia's banks and is beginning to affect their financial soundness." A World Bank annual report published also in February also raised concerns about the Cambodian financial sector, which is suffering from falling deposits, declining foreign capital, plummeting property prices and increasing nonperforming loans.
According to the IMF, poor compliance with reporting rules could mean Cambodian banks are even worse off than thought. Both the IMF and the World Bank warned that a number of banks were especially at risk. According to the IMF, "several large [banks] could face a large deterioration in credit quality and a need for recapitalization." According to the World Bank, "two large banks" are at serious risk from nonperforming loans. Industry sources have identified Canadia as one of the two banks given its overexposure to the property sector. Panicked clients are reportedly making non-stop withdrawals.
Real reason behind decision to crackdown on gambling dens (2)
Last week Prime Minister Hun Sen ordered a crackdown on sport and electronic gambling establishments. He condemned gambling as a social evil. But, since everybody fully knows that gambling is associated with rising crime, why has the government not only authorized but encouraged and promoted gambling activities in the first place? The gambling industry has been thriving in Cambodia since the early 1990's.
Actually the crackdown reflects Hun Sen's concern about who collects huge amounts of under-the-table money from gambling activities. It used to be Hok Lundy, the former National Police Director who died in a helicopter crash last November. Now the authority over the Police is in the hands of Interior Minister Sar Kheng who finds himself in a position to collect up to US$10 million a month of bribes from all sorts of gambling dens. Hun Sen's ongoing measures against gambling actually aim at reaching a new deal for the collection of illicit money from the gambling industry by different clans within the ruling CPP.
In a report titled "Casinos adapt to survive gaming ban" in today's Phnom Penh Post, the manager of a well-known gambling club, The Atlantic, said that his club contributed US$7,000 in taxes each month to the treasury [and] US$5,000 on under-the-table payments to the local authorities.
Read The Phnom Penh Post article at http://tinyurl.com/clbcy9
Bankrupt textile companies leave Cambodia without paying workers' salaries (1)
As a result of the global economic crisis an increasing number of foreign-owned textile companies have been declared bankrupt. They have abruptly laid off thousands of workers without paying their salaries. In order to defend workers' interest and to prevent social unrest, opposition members of parliament have written to the government suggesting that appropriate reserve funds be deposited by textile companies at the national treasury so as to secure payment of workers' salaries in case of bankruptcy.
Read the letter in Khmer at http://tinyurl.com/b9g6qu
Foreign expert implies Hor Nam Hong should be prosecuted (1)
In an interview in the February 19 edition of The Phnom Penh Post, foreign Khmer Rouge expert Raoul Jennar said: "The archives tell us that there were people, at the head of security centers, who ordered and supervised the massacre of hundreds and even thousands of Cambodians during the Democratic Kampuchea [Khmer Rouge] period. Some of these people live freely. Why do we only pursue the director of S-21 [Kaing Guek Eav alias Duch, the former chief of the Tuol Sleng notorious prison known as S-21] when there were 196 security centers across Cambodia? Justice is not choosing a few scapegoats to make an example of."
According to official Khmer Rouge documents from S-21, current Foreign Minister Hor Nam Hong was the chief or "president" of another Khmer Rouge prison, the Boeng Trabek reeducation camp known as B-32. Hor Nam Hong publicly recognizes that he was the "president of a prisoner committee" at B-32.
Both S-21 and B-32 are listed among the 196 security centers.
Read full interview of Raoul Jennar at http://tinyurl.com/ap9srv
See the list of the 196 Khmer Rouge security centers (# 121 for S-21 and # 122 for B-32) at http://tinyurl.com/brfdvy
[End]
18 comments:
He needs to go and the next Cambodian government will be none associate with Khmer Rouge.
And how would you make him go? I'm so desparated to know it.
If you voted for CPP (Cambodian People's Party):
Also known as:
Communist People's Party
Khmer Rouge People's Party
Khmer Krorhorm People's Party
You're support the killing of 1.7 million innocent Khmer peoples in Cambodia.
You're support the killing of innocent men, women and children on March 30, 1997 in Cambodia.
You're support assassination of journalists in Cambodia.
You're support political assassination and killing in Cambodia.
You're support attempted assassination and murder of leader of the free trade union in Cambodia.
You're support corruption in Cambodia.
You're support murder of Piseth Pilika (Hun Sen's affaire).
You're support Hun Sen Regime burn poor people's house down to the ground and leave them homeless.
Hun Sen, Chea Sim and Heng Samrin was a former Khmer Rouge commanders.
Now, Hun Sen, Chea Sim and Heng Samrin are Khmer Rouge leaders, since their leader (Pol Pot) is dead.
From 1975 to 1979, these Khmer Rouge commanders responsible for killing 1.7 million innocent Khmer peoples in Cambodia.
From 1980 to present, these Khmer Rouge leaders responsible for killing innocent men, women and children on March 30, 1997, assassinated journalists, political assassination and killing, murder of Piseth Pilika (Hun Sen's affaire) and attempted assassinated and murder of leader of the free trade union in Cambodia.
When is the ECCC going to bring these three criminals to U.N. Khmer Rouge Tribunal?
Khmer Rouge Regime is a genocide organization.
Hun Sen Regime is a terrorist organization.
Hun Sen Bodyguards is a terrorist organization.
Hun Sen Death Squad is a terrorist organization.
Cambodian People's Party is a terrorist organization.
I have declare the current Cambodian government which is lead by the Cambodian People's Party as a terrorist organization.
Whoever associate with the current Cambodian government are associate with a terrorist organization.
Hun Sen's government committed:
Human Rights Abuses
Human Trafficking
Under Age Child Sex
Drugs Trafficking
Intimidation
Death Threat
Assassination
Murder
Killing
Terrorism
Mass Eviction, by burn poor people's house down to the ground and leave them homeless.
Land Grabbing
Corruptions
Injustice
Illegal Firearms
Illegal Logging
Steal Votes
Violates the Constitution
These are the Trade Marks of Hun Sen Regime.
Under Hun Sen Regime, no criminals that has been committed murder and all other crimes within Hun Sen's government ever been brought to justice.
Information change without notice as it become available.
something simple like a bullet between his eyes, 1:57 AM, unless you have a better idea, of course.
Oh I won't do that. Because I will only create more him and could be a new one is Youn who has been trained in Vietnam like the Youn named Nguyen Cum Cong. You know th eway you have in mind was already failed. If you don't believe me ask King Father. He did your way, first tried to be close friend then he was sacked run back to China even Chinese air plane barely left Pochentong. You know who were chasing after to kill him? They're fake Khmers like Nguyen Cum Cong.
I have another way. I seek a plastic surgery to make me like ah Youn spy named Nguyen Cum Cong and go to Vietnam, then do something else in there or I will marry a high ranking Youn's daughter.
This information on Canadia Bank could be politically motivated.
Since the owner of this bank finance the political's activities of Chea Sim.
There are so many fake or crook banks in Cambodia.
There are only 2 who are really banks : Canadia and AZN Royal.
So if Canadia is in trouble, ANZ Royaltoo. Canadia belongs a cambodian-canadian. And ANZ Royal, Kith Meng.
The others banks are really CPP puppets. FTB, ACLEDA, etc...
The owners of these banks are brainwash by communists.
Maybe Hun Sen want to open his bank too..
Who know with Kwack Sen !
Just for an idea how to protect all depositors from a bankruptcy bank. A few years ago, many banks in Cambodia was forced to backrupted for not be able to increase their capital from $7 millions to $13 millions. Amount them, Kong Triv was one of the directors of one bank in Cambodia. One of my clients has lost a lot of moneys for having deposited in that Bank. But after bankruptcy, Kong Triv has still be able to stay in Business and in senate candidate in which he shouldn't for a bankruptcy company director. In many countries, all directors from bankrupted companies cannot stay in business for a period of 5 years and cannot hold any position as manager or candidate of any public office at all. They must also have to be investigated for fraudulent too. For the case of the new bankrupted bank, all depositors should have a meeting and nominate for a liquidor to atke over the bankrupted bank. All directors of the bank should be banned from interfer with liquidors. The liquidors can then sell all assets and collect all revenues from assets sold to repay their depositors or their debtors.All directors of the bank should be banned also from fleeing out from the country. They may have fraudultly transfered all the moneys to overseas. Areak Prey
12:59 AM, so you are one of those Ph.D(s) from Hanoi huh? You could have fooled me...Dang!
What??? Are you another paranoid Pol Pot 7:32AM?
I traveled to Vietnam for a visit not like the Viets tarvel to Cambodia to stay.
You are going to do more killing than Pol Pot did with your wild guess.
Haha! Ah Phd TukTuk driver form Hanoi...fake Phd from Hanoi haha!
8;38 AM. I don't have a PhD not from Hanoi dude. I went to school in the US. You are too dumb to think visiting Vietnam and trying to understand their mentalities is Hanoi PhD?
You are only barking like a dog don't even know what happens outside or inside.
i dont know
Where is the intelligence in your Khmer intelligence news. Most of it sounds like total nonsense for people who like to read this crap. The author must get a kick out of creating rumors. Your article about the banking system in Cambodia and Canadia Bank in particulare (misquoting even IMF and World Bank statements) is insane. Anybody who can read balance sheets and profit and loss accounts will be able to look through the SCAM of your fantasia. Why don't you look into the web-sides of Canadia Bank and Acleda Bank for example. You will see the real truth of successful banking in Cambodia. Just eaten up by jealousy, are you??
As I said time and time again: Pouk Ah Scam Rainxy have tried hard to deceive and scam Khmer people for political gain for over 20 years now, but they are failing because Khmer people ain't as dumb as they think they are.
Well, there is just one simple thing to do really - and that is for you Viet leech, big time suckers to leave KI-Media and don't ever come back for more like you Viet leech have been doing, understood?
And you Viet leech can guess who I am...
6:49PM is Viet-leech criminal, Ah Lop nis! kept using fake marriage to come here!
so sad to have a blind govement .Hun Sen is Bullshit
Mr. Hum sem , chear sim , heng sarim do not be able to faces all mistakes that been wrong
Post a Comment