Second Yi Sang opens
Tuesday, 10 August 2010 15:00 Catherine James
DINING Capital Cambodia opened its second Cambodian-Chinese style eatery, Yi Sang Restaurant PPSEZ, some 4 kilometres from Phnom Penh International Airport yesterday. The “PPSEZ” signifies its location in the Phnom Penh Special Economic Zone, a site deliberately chosen for its proximity to 120-odd factories in an eight-kilometre radius, according to DCC director Luu Meng.
Businesses occupying Canadia Tower double
PHNOM Penh’s tallest building, Canadia Tower has doubled its office occupancy in a month, jumping from 30 percent to 60 percent in July, after securing both national and international commercial tenants.
The 32-storey tower has signed at least five businesses for tenancy, doubling occupancy recorded at June 30 by the National Valuers Association, according to the property and asset management unit of Canadia Tower in Mega Asset Management Co (MAM).
“Our clients have come from international and national companies such as Cambodia, UK, Switzerland, Japan, the US, Australia and China,” MAM property officer Pen Phyrun said yesterday.
New tenants included the Sojitz Cooperation from Japan, UK-based construction consultant Selling Project Management, UK-based accounting firm ACCA, French phone supplier Alcatel, and Swiss company Shecindle, he said.
Big ticket tenants still expected to sign this year include d the Bank of China representative office and the Cambodian Stock Exchange, he said.
“We have already reserved space for the stock market office. Now, we are still in negotiations,” he said.
“We hope that we can rent out the rest of the space by the end of the year.
“We can provide customers with an exclusive location and top-class services – these are our selling points.
Canadia set to grow following strong half
CANADIA Bank Plc, the Kingdom’s third-largest bank by assets, reported total deposits and loans grew 23 percent and 15 percent respectively in the first half of the year.
The bank’s six-month data recorded customers’ deposits rose to US$682 million at the end of June from $555 million at December 31, while outstanding loans reached $442 million from $385 million.
“The strong growth we have seen in deposits reflects the public trust in us,” Dieter Billmeier, the bank’s vice president, said yesterday.
“The lending growth is in line with our predictions with increasing trends in the service, mortgage, wholesale and retail, as well as import and export sectors.”
He said the bank, which already has 28 branches nationwide, would look to open another five branches this year.
“We will continue to expand domestic branch network to explore growing possibilities to widen our customer deposit and borrower base,” he said.
Canadia, wholly owned by Cambodian shareholders, has also seen solid growth in total assets in the first six months, Billmeier said, coming close to $900 million at June 30 – about 20 percent higher than December last year – while the bank’s total capital base had grown to above $120 million by June.
Though he declined to disclose the bank’s profit for the first half, he said it was “slightly higher” than it was last year.
According to figures released by the National Bank of Cambodia in July, the Kingdom’s commercial bank deposits totalled $3.795 billion at the end of June, up 15 percent over December last year, and outstanding loans increased 9.8 percent to $2.74 billion at the end of June
source: according phnompenhpost.com