 |
| Ad for Viettel |
Thursday, 11 November 2010
David Boyle
The Phnom Penh Post
CHINA’S commercial influence has grown in Cambodia with the signing of a refinancing deal for mobile provider Mobitel, according to international commentators, who said the People’s Republic may leverage its business interests for political advantage.
Last Thursday, Cambodian conglomerate The Royal Group signed a US$591 million deal to refinance its subsidiary Mobitel with the Bank of China. It will enable The Royal Group to pay off a $421 million debt as well as fund future capital expenditures.
One week on, political and economic commentators said there were likely political considerations with the agreement – a viewpoint government and company officials rejected yesterday.
“At the moment anything China does is viewed as having ulterior motives,” Carlyle Thayer, a politics professor at the Australian Defence Force Academy, a school managed by the University of New South Wales, told The Post.
“China has always manipulated loans to suit larger political purposes,” he said, highlighting the potential for a power play between Vietnam and China in the telecommunications sector.
Ministry of Posts and Telecommunications statistics show Mobitel is the largest mobile provider by subscriber numbers, while Metfone – a subsidiary of the Vietnamese military – has grown to become the second biggest.
China and Vietnam had been engaged in “something of a tussle” over influence in Cambodia since the 1991 Paris Peace Agreements, Thayer said.
“China may leverage its commercial interests to gain political influence … and also to use that influence to block [Metfone’s] drive to increase market share,” he said.
Nick Owen, Shanghai-based editor at the Economist Intelligence Unit, a research and analysis resource, said the Mobitel deal “underscores China’s growing influence in Cambodia”.
“Long-term, low-interest loans make little sense commercially in what is still a relatively risky market,” he said.
The loan deal should not be viewed in isolation from a $500 million agreement The Royal Group signed with China’s Huawei Technologies, he said.
Yesterday, officials within Cambodia dismissed such suggestions.
Ministry of Foreign Affairs spokesman Koy Kuong said he “totally rejected” claims that there was political motivation behind the deal.
The Royal Group said it was purely a business decision to refinance with Bank of China. Chairman Kith Meng said yesterday it was “a commercial deal”.
Chief Financial Officer Mark Hanna wrote: “The deal that we have signed is a commercial transaction that has no political angle.” He said it improved the Kingdom’s image with international bankers.
“This refinancing raises the profile of Cambodia on the international debt market,” he said.
Chinese Embassy spokesman Qian Hai said the agreement was entirely business related.
8 comments:
All data that Khmer people the Viet has all under controll event you go to WC why?
because those handy was used by GPS System. That is very good shit for Khmer people.
That is the technical interface for Khmer
I WILL POKE AH HUN XEN IN THE EYE WITH A VIETTEL! GO CHINA! FUCK OFF WHORENAM!
HAHAHAAHAHA.... YOUNCONG TRY TO BEAT KITH MENG IN HIS OWN GAME AND TERRITORY! YOU CAN'T BEAT KITH MENG HE'S TOO AGRESSIVE IN BUSINESS! HE WILL MAKE SURE HE IS NUMBER 1 IN EVERYTHING SO YOUNCONG SHOULD BACK AND LET CHINA HANDLE CAMBODIA! YOUNS OUT OF CAMBODIA OR CHINA WILL SICE YOUR THROAT! LONG LIVE CHINA!
We dont need this Stupid VietCong Telecome shit. VC need to help it people out of poverty first then look at other country. Youns just want to get ours natural resources and land. So It be better to go with China
ជាការល្អ ដែលយើងបានជ្រើសរើសយកចិន។ ព្រោះអីយួន គេបានលុងស៊ីស្រុកខ្មែរ យើង យូរមកហើយ។
This is the big slap on the Viet's face.
Chinese and Cambodians have been friends since the 3rd century A.D., and when have the YUONs be any friends of the Cambodians? NEVER. They copy and steal everything from the Chinese and now they the YUONs think they are something. Remember, it was the Chinese who helped get rid of the French and the Americans from Vietnam, so the YUONs need to be grateful of the Chinese for their independence. Cambodians may smile at the YUONs but between the Chinese and the YUONs, the Cambodians always go for the Chinese. It is more honorable to be friends with the masters of the YUON slaves.
Vietcong you need to return Kampuchea Krom back to Cambodian asshole. We hopes your business in Cambodian in the Red mother fuckers. Give me my land back now mother fuckers.
Post a Comment