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Sonatra to cease operations for a year

Sonatra Securities will suspend all its business activities from October 1. According to a press release on its website, the local stock brokerage firm will cease all its operations for 12 months and return all securities to investors. “Therefore Sonatra Securities PLC will stop receiving orders from clients, close client accounts and client money accounts, […]

Government looks to ease gambling limits

Cambodia is mulling over the possibility of relaxing gambling restrictions just like what its neighboring countries are doing. Aside from Macau and Singapore, Vietnam is now working on a draft law to legalize gambling. According to Ros Phirun, spokesman for the Ministry of Economy and Finance’s gaming and casino department, the government is looking into […]

UMG enters Cambodian music industry

Smart has obtained the rights to distribute and resell Universal Music Group’s (UMG) digital content following a deal signed between the US music giant and the local telecom company. The news marks the start of a long-term effort to enter Cambodia’s music scene, said Sandy Monteiro, president of Southeast Asia for Universal Music Group. Through […]

Sri Lankan company acquires Cambodian MFI

LOLC Micro Investments (LOMI), a subsidiary of publicly listed Sri Lankan financial services company Lanka Orix Leasing Company, has acquired the controlling stake in Thaneakea Phum Cambodia (TPC), the fifth biggest microfinance institution in the Kingdom. LOMI bought 55 percent equity stake in TPC from Developing World Markets Asset Management (DWM), an investment bank based […]

Phnom Penh film fest showcases independent movies

The Phnom Penh Film Festival is now in full swing, showcasing independent cinema from all over the world. The 10-day festival, which will run until September 21, 2014, will be hosted in the three Flicks Community Movie Houses in the Cambodian capital. Out of the 300 films submitted to the festival, only 70 feature films, […]