Russian TV to go on air in Cambodia

Lesson from Russia?

http://www.youtube.com/watch?v=pMD7Gt_hndc

Jul 25, 2012
Margarita Bogatova
The Voice of Russia

At present, Cambodians are getting a chance to watch Russian television programmes. The General Satellite Corporation which is working with the operators of satellite TV ”Trikolor” and NTV has created its own ONE TV network of cable channels in Cambodia.

The project was implemented together with the Royal Group of Companies, which possesses 49 percent of the joint venture. The Russian company, which is the initiator of the project, owns the majority share.

The ONE TV platform, which was launched as an experiment on the 24th of July, has become the first venture of the General Satellite abroad. The company is planning to expand its broadcast to Pakistan, Bangladesh and other countries in Asia as well as Africa, CIS and Latin America.

[Australian Company] Toll to quit Cambodia rail plans

March 14, 2012
Lindsay Murdoch
WA Today (Australia)

AUSTRALIAN company Toll Group is set to pull out of a controversial $145 million project to rebuild Cambodia's railways, reliable sources in Cambodia say.

Under an agreement signed in 2009, Toll and a Cambodian joint venture partner were to operate the railways for 30 years.

The project, partly funded by the Australian aid agency AusAid, has been at the centre of claims that up to 4000 people living along the tracks are not being fully compensated for having to move. A Toll spokesman declined to comment.

Deals with China inked [-These choppers be used to take Hun Xen out when he escapes Cambodia?]

Monday, 22 August 2011
Vong Sokheng and Don Weinland 0Share
The Phnom Penh Post

CAMBODIA agreed to acquire Chinese-made Z-9 helicopters for US$195 million in one of 26 memorandums of understanding agreed by the two countries on Saturday.

Cooperation was pledged in sectors such as energy, mining, agriculture and road construction, as well as defence spending and aid. The two-day meeting also saw deals inked involving Cambodian conglomerate Royal Group and the Chinese backers of the controversial Boeung Kak lake development.

Led by Politburo Standing Committee member Zhou Yongkang, the Chinese delegation met with Prime Minister Hun Sen on Saturday.

“[Hun Sen and Zhou] have exchanged views on this new era of cooperation between Cambodia and China,” Eang Sophalleth, Hun Sen’s spokesman, said at a press conference following the closed-door meeting.

China vs Vietcong's Telco (updated)

Ad for Viettel

China vs Vietnam

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.

China vs Vietnam [-Chinese money vs. Viet Army Telco.]

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 have rejected.

“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.

ADDITIONAL REPORTING BY SOEUN SAY

...read the full story in tomorrow’s Phnom Penh Post or see the updated story online from 3PM UTC/GMT +7 hours.

Cambodia to borrow $591m from Chinese banks

November 4 2010
By Jamil Anderlini in Beijing
Financial Times

Cambodia’s largest mobile phone company will borrow $591m from Chinese banks to help pay for a contract with Chinese telecom group Huawei Technologies.

The loan, which will be the biggest financing project of its kind in Cambodia’s history, underscores the growing influence of China and its companies in the country’s economy.

CamGSM, the wholly-owned telecom subsidiary of Royal Group, Cambodia’s largest private conglomerate, will sign a financing package arranged by Bank of China, and a five-year $500m equipment and services contract with Huawei in a ceremony scheduled for Thursday afternoon.

The signing ceremony in the capital Phnom Penh will be attended by Wu Banguo, one of the nine most powerful men in China’s communist hierarchy. A number of other agreements, including large electricity deals involving Chinese state power producer Huadian, will also be signed during Mr Wu’s visit.

The flurry of Sino-Cambodian deals comes just three days after Hillary Clinton, US secretary of state, said during a visit to Phnom Penh that Cambodia should maintain a foreign policy that was not “too dependent” on China.

Chinese companies have built much of Cambodia’s infrastructure and Beijing is one of the country’s biggest aid donors.

Diplomats and analysts say China’s influence over the country’s internal and external affairs is growing, as evidenced by Cambodia’s decision to repatriate 20 Uighur asylum seekers to China last year following intense pressure from Beijing.

Two days after the deportations China signed $1.2bn worth of investments and aid agreements with Cambodia.

The Uighurs were seeking refugee status because of fears they would be tortured or executed on their return to China.

At the time, the US government called the deportation decision a “violation of Cambodia’s international obligations” and later suspended some military agreements with the country.

The finance and procurement deals to be signed on Thursday between CamGSM, Bank of China and Huawei are not unusual for Chinese companies, which are increasingly looking for growth overseas, especially in emerging markets.

Chinese state-controlled banks regularly provide cheap financing for offshore expansion and Huawei has a $35bn standing credit line from China Development Bank. Huawei did not immediately respond to a request for comment.

Royal Group will use part of the $591m Chinese bank loan to refinance a $421m bridging loan from Standard Bank and Australia and New Zealand Banking Group, according to Mark Hanna, Royal Group’s chief financial officer.

That loan helped Royal Group last year to buy the majority stake in CamGSM held by Luxembourg-based Millicom International Cellular, giving it 100 per cent control of Cambodia’s largest mobile telecom company.

Additional Reporting by Kathrin Hille

San Miguel Corp to build beer plant in Cambodia

October 25, 2010

PHNOM PENH (Xinhua) - San Miguel Corporation plans to invest in beverage factory and various projects in Cambodia.

During a meeting with Prime Minister Hun Sen on Monday, Ramon S. Ang, president and chief operating officer of San Miguel Corporation, told the premier that the company plans to invest in beers and whisky factory, energy, gas, chemical and agricultural sections, the Prime Minister's spokesman Eang Sophalleth told reporters after the meeting. The company is also planning to build chicken farm in Cambodia.

Eang Sophalleth said that the San Miguel Corp would invest in a joint-venture with the Royal Group of Companies owned by the local tycoon Kith Meng for these investment projects.

The details of the investment plan are not disclosed on Monday.

San Miguel Corporation is one of the Philippines' most diversified conglomerates, generating close to 3 percent of the country's gross national product through its highly integrated operation in beverages, food, energy, power, mining, telecommunications and infrastructure.

Cambodia's "Asian Riviera" ... courtesy of Hun Xen's crony and at the expense of Cambodia

Kith Meng, Hun Xen's crony and owner of the Royal Group

Cambodia to have 'Asian Riviera.'

Wednesday, 1st September 2010
Source : HVS Internmational

The Royal Group (TRG), a Cambodian corporation in property and infrastructure development, has unveiled a masterplan to develop Koh Rong into Asia's first environmental resort destination.

The plan, which aims to transform the island into the next ‘Asian Riviera’, will cover elements such as infrastructural development of an airport, a marina, a port and roads, as well as resorts, hotels, golf courses, shopping, restaurants, bars and entertainment venues.

TRG has been granted a 99-year lease for the development, which has a five-year schedule for the first phase and eventual completion in 25 years’ time.

Wholesale 99-year lease of Koh Rong to Kith Meng, one of Hun Xen's cronies

Hun Xen's crony Kith Meng

Environmental Survey To Prepare Cambodia's ‘Koh Rong' Island For High-End Tourism

PRESS RELEASE

(Bangkok - March 25, 2010) - Global integrated design and engineering consultancy firm Scott Wilson Group plc. has been appointed by The Royal Group of Cambodia to conduct an Environmental Evaluation and Social Impact Analysis of the Cambodian island of Koh Rong, laying the groundwork for Asia's first environmentally planned resort island.

In addition Scott Wilson has been appointed to develop the infrastructure on Koh Rong including road network, marina, international airport and utility services to jump start tourist development which places the beaches of Koh Rong within a travel time of 3 hours from Hong Kong and Singapore.

With over 80 offices worldwide, Scott Wilson offers strategic consultancy and multi-disciplinary professional services in buildings & infrastructure, environment & natural resources and roads sectors.

Koh Rong developer, The Royal Group, is headed by Chairman Kith Meng, one of Cambodia's most prominent tycoons, with interests extending to Cambodia's railways and ANZ Bank in Cambodia.

The Koh Rong archipelago, 30 minutes by boat from the coastal town of Sihanoukville, is being billed as the "next Asian Riviera" - following Phuket, Koh Samui and Bali.

Koh Rong covers 80 sq. kms, with a population of just 1,500 in small fishing villages. The island is known amongst off-the-beaten-track travelers for its pure white sand beaches and crystal clear waters and remains virtually untouched.

The Royal Group, one of Cambodia's most dynamic and diversified business conglomerate with substantial interests in property and infrastructure development, has been granted a 99-year lease by the Cambodian government to develop Koh Rong as the "first environmentally planned resort island in Asia".

The Royal Group is committed to sustainable development of Koh Rong, ensuring that the impacts on the environment are minimized and positive environmental benefits are realized throughout the development phases of the island. Most importantly the development objectives are that Koh Rong must stay a ‘Paradise Forever'.

The study will identify environmentally sensitive areas and draw recommendations for developing the pristine Cambodian island of Koh Rong for international tourism and real estate development. The study will be followed by detailed Environmental Impact Studies for the unique marine resources (Coral Reefs, Mangroves, Fisheries) as well as the island's flora and fauna. A crucial element of this will be monitoring developments and their impacts on the environment and local communities. Re-forestation, marine resource protection, waste management, poverty alleviation and employment creation for the local community are key elements of the development program.

Heading the social impact studies and infrastructure planning and development for Scott Wilson is Lauri Van Run, General Manager of the leading global design and engineering consultancy's Malaysia office. Lauri has been working with Scott Wilson since 1991 and has over 20 years experience as project manager of large infrastructure development projects, particularly in the planning, design and construction of multidisciplinary projects such as airports. Prior to joining Scott Wilson Lauri spent five years with the United Nations.

"The master plan for Koh Rong presents perhaps a unique opportunity to create virtually from the beginning a truly ecologically sustainable large scale resort community," said Mr. Van Run.

Development of the pristine "eco-island" is being carefully planned to foster the natural environment and local communities while creating a "high-end" resort destination. A development plan that realises best real estate value in balance with environmental protection - one that results in minimum environmental and social impact is currently being developed by Scott Wilson together with Hong Kong-based MAP Architects.

Opportunities for local villagers including agricultural initiatives such as organic farming, waste management, environmental awareness, improved education and medical care for the community and a future hotel management school are high on the list of priorities. It is important to provide the local community with the opportunity for employment, skills training and improvement of their livelihoods. Initial consultations have been held with chiefs and village leaders.

Along with top-end resorts, two golf courses are planned.

Mr. Van Run said: "Koh Rong is an un-spoilt paradise of pristine beaches and spectacular natural forests. It offers a unique opportunity to create the ultimate ecologically managed island, with ecologically sustainable resorts with sound investment potential."

"The Koh Rong story is similar to that of Samui and Phuket 30 years ago," said Mr. David Simister, Chairman of CBRE Thailand, the exclusive advisor and sole agent for developing the island. "It is one of the last undiscovered paradises in South-East Asia with the potential to become the next Asian Riviera."

The new airport on will be the principal gateway to Cambodia's ‘Next Asian Riviera' and a critical catalyst for the island' development," he said.

Royal Group of Cambodia Hires Two Banks for $421 Million Loan

By Katrina Nicholas and Shelley Smith

Dec. 1 (Bloomberg) -- Royal Group of Cambodia Ltd., owner of the country’s biggest mobile-phone company, hired Standard Bank Group Ltd. and Australia & New Zealand Banking Group Ltd. to arrange a $421 million loan.

The 18-month bridging loan will help Phnom Penh-based Royal Group acquire the Cambodian wireless network operations of its partner, Millicom International Cellular SA, for $346 million. It will also be used to refinance debt of about $100 million, Royal Group Chief Financial Officer Mark Hanna said.

“For a local company to raise this much in this climate is quite incredible,” Hanna said in a phone interview from Phnom Penh. “There have only been three or four syndicated loans done in Cambodia and nothing of this magnitude.”

Royal Group, whose aim according to its Web site is to promote the country’s economic development, owns a television network and has telecommunications, media and hotel investments in Cambodia. It owns a casino close to the border with Vietnam, as well as a joint venture to open the country’s first six-star resort in Siem Reap. Luxembourg-based Millicom has been selling its telecommunications assets in Asia, including its Sri Lanka unit for about $155 million in October.

The loan may pay interest of between 10 percent and 14 percent and will be put out for general syndication either later this month or early next year, one person familiar with the transaction said.

To contact the reporter on this story: Katrina Nicholas in Singapore at knicholas2@bloomberg.net; Shelley Smith in Hong Kong at ssmith118@bloomberg.net

Millicom To Sell Cambodian Operations For $346M

AUGUST 11, 2009

STOCKHOLM (Dow Jones)--Telecom operator Millicom International Cellular SA (MICC) said Tuesday it has agreed to sell its Cambodian operations for $346 million in cash to The Royal Group, its partner in the country.

The transaction, which is expected to be completed before the end of 2009, comprises Millicom's 58.4% holdings in each of CamGSM, Royal Telecam International and Cambodia Broadcasting Services.

It values the Cambodian operations at an enterprise value of $605 million, representing an estimated 7.1 times 2009 earnings before interest, taxes, depreciation and amortization, or Ebitda.

Luxembourg-based Millicom, which is listed on Nasdaq and the Stockholm stock exchange, earlier this year decided to divest its Asian operations and focus on Africa and Latin America.

It said July 2 that the units in Cambodia, Sri Lanka and Laos will be classified as "assets held for sale" and that it had received expressions of interest from a number of parties.

"We don't think that we have the critical mass to operate in Asia," Millicom Chief Financial Officer Francois-Xavier Roger told Dow Jones Newswires in an interview last month, adding that the proceeds from a sale of the Asian assets will be used to invest in external growth, repaying debt, or distributing part of the money to the owners through dividends and share buybacks.

At 1055 GMT, Millicom shares in Stockholm were up 0.2% at SEK538, against a 0.5% drop in the wider market.

[Australia's] Toll in rail venture with [Hun Xen's crony in] Cambodia

June 12, 2009
Ross Kelly
Dow Jones Newswires

TOLL Holdings has signed an agreement with Cambodia to operate the nation's railways under a 30-year concession.

Under the agreement, announced today by Toll, a joint venture between Toll, with a 55 per cent stake, and Cambodian conglomerate Royal Group, with a 45 per cent stake, would operate the rail network and related freight logistics.

The agreement is conditional on final confirmation of investment by "the international community" of $US145 million ($176.8m), Toll said.

Toll already has an oil and gas logistics operation in Cambodia.