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Companies

LABS initiative officially launches in Cambodia

The Life and Building Safety (LABS) initiative, a plan to promote safer working conditions for factory workers in the apparel, footwear and accessories industries was officially launched aiming to increase safety standards in Cambodia's manufacturing industry.

ABA Bank posts $67.6M in Q1’22 net profit

One of Cambodia’s leading commercial banks has posted $67.6 million in first-quarter after-tax-profit an increase of 42% from $47 million compared to the same period last year, while non-performing loans remained low at 1.41%.

PPCBank posts $6.8M in Q1’22 net profit

PPCBank has posted $6.8 million in after-tax-profit representing an increase of 106% from $3.3 million over the same period last year as non-performing loans have jumped to 3.64%

Phnom Penh Autonomous Port shareholders request increase in dividend payout

Shareholders in the publicly traded but majority government owned Phnom Penh Autonomous Port (CSX:PPAP) have voted against the ports annual dividend of KHR 332.8 a share explaining that since listing in 2015, earnings are up 300%, but the dividend is up just 30%.
PRASAC

PRASAC posts $49M Q1’22 net profit

Cambodia’s largest microfinance institution has posted an after-tax-profit of $49.3 million in the first quarter of 2022 an increase of 37% from $35.9 million over the same period last year as overdue loans remained very low at only 1.24%.

LOLC Cambodia posts $14M Q1’22 net profit

Microfinance provider LOLC Cambodia has posted an after-tax profit of $13.9 million an increase of almost 20% from $11.6 million in the same period last year while overdue loans remained stable but have increased to 2.17%.

UK-based property service firm Chestertons launch first office in Cambodia

Chestertons has considered Cambodia a “key, fast-growing” market amid its expansion plan in Asia. The brand forays into Cambodia will help improve the standard of property management in the Kingdom to ensure trust and excellent service for investors.

Food delivery app Muuve to cease operations after acquirement

The business which was awarded “Startup of the Year” in 2019 by the Cambodian Ministry of Posts and Telecommunications was invested in January 2021 by the $55 million World Bridge Venture Capital fund Ooctane which has also appeared to cease activity.
Acleda Bank

Acleda Bank posts $35M in Q1’22 net profit

ACLEDA Bank has posted an after-tax-profit of $35.36 million in the first quarter of 2022, a decrease of 19.81% from $44.10 million in Q1’21 mainly due to an increase in net impairment losses, interest expense, and general and administrative expenses.

Acleda Bank announces annual dividend of KHR 548 a share for 2021

Cambodia’s only publicly traded commercial bank Acleda Bank (CSX:ABC) has announced it will distribute 35% of last years $166.67 million after-tax profit to shareholders equating to KHR 548 a share.