via CAAI News Media
Large Ransom Paid to Somali Pirates for Indonesian Ship
Saturday, 27 February 2010 21:19 DAP-NEWS
Total Cambodia in cooperation with other sponsors on Saturday held the 2010 Motor Racing championship at Prek Leap village in O’Russey Keo diss.
“It is the fifth event that so far we have celebrated in Phnom Penh under the support of Cambodian Total,” Steph- ane Dion, managing director of Total Cambodia, said in the opening ceremony .
“Total Cambodia has been committed to communicating our passion for motor sports and promoting motorcycle racing throughout Cambodia, and grooming an ever larger number of national riders to be able to participate in an international championship,” Dion added. This year, the racing attracted hundreds of local people and foreigners.
In Class A (professionals): Larry Blair from France won the first place, and the runner-up is Piere Yves Catry from France, with third place Chayanutrav BooPawat from Thailand. The winners were awarded US$300, US$200, and US$150, respectively, and each got a medal.
In Class B (maximum 14 years old): Iv Leng from Cambodia won first place, second place went to Mathew Cooper from Canada and third place Vong Khan Pove from Cambodiaof 14 years old. The winners got US$250, US$150, and US$100, respectively .
In Class C: Touch Thach won first place, second place was That Chamroeun, and third Lim Pheng, all from Cambodia. They got US$200, US$150 and US$100, respectively .
In Class D: the winner was Bun Roth, with Jule Van Derrest second place, and third was Sang Makara . The winners got US$100, US$70 and US$50, repectively.
“For the foreign riders we provided accommodation and travel tickets...We have to promote this sport here; it has started to be attractive for local people,” Yim Vibol, the marketing and communication manager for Total Cambodia, told DAP News Cambodia .
This saw 50 racers from eight countries.
The main sponsors for 2010 were Ford, the Pizza, Company, and ANZ Royal, Infinity Insurance, Eurotech mineral water, Coca Cola, and Comin Khmere.
PM Warns TV5
Saturday, 27 February 2010 21:15 DAP-NEWS
Cambodian Prime Minister Hun Sen on Saturday warned he would close the TV5 station and sell its shares as the station broadcasts little information about soldiers’ activities, depite being owned by the Royal Cambodian Armed Forces.
The premier’s warning came as he and his wife, Bun Rany Hun Sen, visited soldiers in Army Region 5 in Ratanak Mondul District, Battambang Province.
“There have many generals, but many dancing programs are broadcast, and the army’s activity is not broadcast. The license should be removed ,” the premier said.
“What percentage of the TV broadcasts of devoted to the soldiers’ activities? It is the worst compared to other TV stations,” the PM said.
The Premier urged all Cambodians to cooperate in the face of attempted incursions by Thai soldiers at Preah Vihear Temple.
Cambodian Growth Expected 8- 9 Pct in the Coming Years
Saturday, 27 February 2010 18:20 Ek Madra
PHNOM PENH,– Cambodia saw its growth up to 9 percent in the next several years which will be boosted by robust agriculture’s production and tourism and that figure could be higher thanks to its first oil production, said the report was seen by DAP on Friday.
“The Cambodian economy is expected to grow at a somewhat lower rate of about 8- 9 percent.”
“But growth will likely accelerate after oil production commences on a commercial scale expected in 2010 or 2011,” said the report about the Cambodian Economy.
Cambodia expected to produce first oil in next year by the giant U.S. Chevron Texaco announcement of its discoveries, which was quoted in the report that “a reserve of 400 million barrels of oil and five billion cubic meters of natural gas,” it said.
Cambodian growth is projected to pick up 4.25 percent for 2010, said the report.
The international financial crises affected this Southeast Asian nation’s growth last year projected at a range between 0 percent to -1 percent, but earlier the International Monetary Fund (IMF) predicted that Cambodia’s economic growth would be -2.7 percent in 2009.
The report, which detailed about the country’s economic situation, said that the accelerating economic growth is crucial for the improvement of social indicators and broadening the fiscal base to generate enough revenue to fund social sector.
Growth will have to be achieved from the diversification of production sources and promoting investment in new manufacturing activities, the agro-industry, and tourism sector, it said.
Beyond the near term, Cambodia will need to diversify its sources of growth to sustain a 7 percent growth per annum in non-oil GDP.
“As private sector developing reforms to take root, sectors other than garments and tourism should increasingly contribute to growth.”
“Agriculture is also expected to improve its performance when reforms, including those pertaining to land management, are implemented and when investment in rural infrastructure increases,” it said.
The report also said that in the near term the economy will likely continue to be held by tourism, the garment industry and construction, with agriculture providing periodic but volatile growth spurts depends on weather conditions.
Agriculture, which is the Cambodian economic backbone, accounts 30 percent of GDP—given nearly 90 percent of the kingdom’s total population of 14 million is rural.
Cambodia has been successful with rice production in the last decade and this prospect remains unchanged. The kingdom produced 7.28 million tonnes of rice for 2009/2010 of which Cambodia saw another surplus of 3.1 million tonnes for exports.
Cambodia received 2.1 million foreign tourists last year and that figure is expected to increase 15 percent a year. The sector contributed 13 percent of GDP.
The total value of garment, textiles and shoes exported last year dropped to $2.6 billion compared with $3.1 billion in 2008.
Cambodian Largest Gambling Industry of $100 Million Investment in Casino
Saturday, 27 February 2010 17:40 Ek Madra
PHNOM PENH, A Cambodian tycoon Kith Thieng said on Friday launched $100 million investment in casino to meet the increasing numbers of gamblers flocked to entertain and relax in the kingdom.
The Titan King Casino opened its doors after months of constructions on 2.5 hectares of land and employing some 6,000 people in Bavet town of Svay Rieng province, about 120km from Phnom Penh, right at the Cambodia Vietnam Border.
Kith Thieng said in a release “Bavet has developed very rapidly in recent years and now boasts many casinos in operation with more under construction. The town is rapidly becoming a regional center for entertainment and relaxation much like Las Vegas and Macau.”
“Titan King is poised to be the largest hotel casino in Cambodia,” said the company release.
Titan King Casino shall have the most advanced casino facilities in Cambodia with gaming tables, the latest gaming machines with Special Junket Rooms, exclusive VIP and VVIP rooms, it said.
Attached to this vast casino complex is an exclusive boutique hotel, equipped with the latest facilities and modern amenities.
“Bavet is very important in Cambodian Prime Minister Hun Sen’s plan to promote the border area as a regional center of commerce,” said Kith Thieng.
The town located on National Road No. 1, the major ten-country of ASEAN corridor between Cambodia and Vietnam and the most important link for business, trade, and tourism between the nations.
The facility of Titan King Casino is design for the ideal base for entertainment, relaxation, and business.
It offers So Nguon Dry Port operating on 7 hectares with capacity to stock 4,000 containers. With special economic zones, duty free markets, large dry port, and investment incentives.
“Bavet is transforming into the most important commercial city in eastern Cambodia,” Kith Thieng said.
An estimated 23 casinos and gambling complex in Cambodia, many of them are foreign owned and joint venture with the local partners, mushroomed in the last decade. Almost all casinos located near the border of Cambodia-Thailand and Vietnam-Cambodia.