The Government Signs a Stock Exchange Establishment Deal with South Korea – Wednesday, 25.3.2009

Posted on 26 March 2009. Filed under: Week 605 |

The Mirror, Vol. 13, No. 605

“The Cambodian government and a South Korean [private] company signed a joint venture agreement to open a stock exchange market in Cambodia, but government officials did not disclose a date for the launching.

“A secretary of state of the Ministry of Economy and Finance, Mr. Hang Chuon Narong, said during the ceremony that the deal with the Korea Exchange KRX, a stock exchange operator of South Korea, will provide the government with 55% control, and the rest of 45% will be administered by the Korea Exchange.

“Mr. Hang Chuon Narong said, ‘We have done a lot of work to create confidence and we have to convince different companies to join this stock market, and this also takes time. We will later decide the date when to open this market.’ He added that if the stock market cannot open as planed in December this year, it might open in 2010.

“The project manager of the Korea Exchange [in Cambodia], Mr. Lee In-Pyo [이인표], acknowledged that the global financial crisis prevents a clear prediction into the future. But the launching of this market during a time of crisis might help to create good chances for this market. He continued to say that the Korean stock exchange had helped Korea to recover again quickly from the financial crisis in Asia in 1997 by attrackting foreign capital into the Korean economy.

“The Minister of Economy and Finance, Mr. Keat Chhon, declined to comment whether the stock exchange will be opened in December or not. But he said that there is a warning from the prime minister. ‘We will not create something which will disappear within two days.’

“Prime Minister Samdech Hun Sen said in February that the stock exchange might be postponed due to the financial crisis.” Rasmei Angkor, Vol.16, #1424, 25.3.2009

Newspapers Appearing on the Newsstand:
Wednesday, 25 March 2009

Areyathor, Vol.15, #1385, 25-26.3.2008

  • Samdech Hun Sen: Cambodia Plans to Send Troops to Chad and Central Africa [the number of troops is not yet known]

Cheat Khmer, Vol.1, 45, 25.3.2009

  • [The Minister of Information and spokesperson of the government]: The Opposition Party Agrees to Let the Country Fall into Unrest so that It Can Take Power
  • America: Cambodia Is among 22 Countries with Serious Tuberculosis [13,000 Cambodian people and 1.6 million people around the world die every year of this disease]

Deum Ampil, Vol.3, #147, 24.3.2009

  • The World Bank Provides US$12.6 Million to Cambodia to Expand International Trade
  • Two Cambodian Students Receive Scholarships to Study at the University of the United Nations [in Costa Rica, about international peace]

Kampuchea Thmey, Vol.8, #1906, 25.3.2009

  • An Emergency Meeting [between Siem Reap authorities and civil society organizations on human rights] Is Held over the Armed Clash Which Injured People in Chi Kraeng District

Koh Santepheap, Vol.42, #6611, 23.3.2009

  • The Khmer Rouge Tribunal Announces [former Tuol Sleng Prison chief] Duch’s Hearing Will Be Held on 30 March 2009
  • For 2009-2010, the Ministry of Education, Youth, and Sport Announced 3,345 Scholarships [for high school diploma students]

Rasmei Angkor, Vol.16, #1424, 25.3.2009

  • The Government Signs a Stock Exchange Establishment Deal with South Korea
  • The Central Bank Will Provide Loans for One Month to Private Banks

Rasmei Kampuchea, Vol.17, #4854, 25.3.2009

  • The Prime Minister Prohibits the Creation of Medical Faculties at Private Universities
  • A Woman Was Beheaded while Picking Cashew Nuts to Robb Her Platin Jewelry Worth More Than Four Chi [perpetrators are not yet identified – Kompong Cham]
  • Five Died and Five Others Were Seriously Injured along the Road in Phnom Penh [by traffic accidents within two days]

Sereypheap Thmey, Vol.16, #1681, 25.3.2009

  • World Khmer Krom Federation Leader Asks [the Documentation Center of Cambodia] to Research Also about Torture against Khmer Kampuchea Krom People during the Pol Pot Regime

Have a look at the last editorial – you can access it directly from the main page of the Mirror.

And please recommend us also to your colleagues and friends.

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