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Cambodia to launch 100m casino complex

PHNOM PENH, Feb 16 — A Cambodian tycoon will launch a US$100 million (RM342 million) casino near the country’s border with Vietnam this month to attract foreign tourists and develop the country’s fast-growing entertainment industry.

The Titan King Casino will open its doors on Feb 26 in Bavet, a town in Svay Rieng province, about 120 km from Phnom Penh, covering 2.5 hectares of land and employing some 6,000 people, its owner, Kith Thieng, told Reuters today.

Kith Thieng, whose business interests include hotels, fast food restaurants, a mobile phone operator and stakes in a bank and television station, said he wanted to help Cambodia’s entertainment sector rebound after the global economic crisis.

Cambodian PM names 3 likely listings on new bourse

PHNOM PENH, Feb 3 (Reuters) - Prime Minister Hun Sen said on Wednesday three state firms could be among the first to list on Cambodia's new stock market, although an official involved in the project said it may not be ready until the end of the year.

"Our Cambodia is creating a stock market, its headquarters are almost finished," Hun Sen told more than 1,000 accountancy graduates in Phnom Penh. "So, in a short time, we will have a stock market, and some state firms and private enterprises will get listed there."

Hun Sen mentioned three candidates for a listing -- Sihanoukville Autonomous Port, the Phnom Penh Water Supply Authority and Electricite du Cambodge, the state power company.

Reported hijacking of Cambodian ship false

A Cambodian-flagged vessel believed to have been hijacked by Somali pirates was in fact detained by authorities at the port of Berbera in Somaliland on the Gulf of Aden, according to media reports published on Sunday.

News reports late last week said that on January 27, Somali pirates hijacked the MV Layla-S after it unloaded its cargo at the port of Berbera in an autonomous region of Somalia known as Somaliland, which formed its own government in the northwestern section of the country after the East African state collapsed in 1991.

Cambodian garment workers threaten week-long strike

PHNOM PENH, Jan 22 - Two of Cambodia's biggest workers' unions on Friday threatened to hold a nationwide garmet-industry strike to protest over low pay and the unsolved murder of the country's most respected union leader.

Two unions said thousands of garment factory workers would halt production for a week to press the government to arrest the killers of top unionist Chea Vichea, as hundreds marched in Phnom Penh to mark the sixth anniversary of his killing.

A workers' strike would represent a rare test for the government of long-serving Prime Minister Hun Sen, who has used a parliament dominated by his Cambodia People's Party (CPP) to push through tough laws to stifle dissent.