Angered Workers Torch Korean Boss’s Car

By Heng Reaksmey, VOA Khmer
Original report from Phnom Penh
/28 October 2008/

Khmer audio aired 28 October 2008 (883 KB) - Download (MP3) audio clip
<http://www.voanews.com/mediaassets/khmer/2008_10/Audio/Mp3/081028_HR_Angered_Workers.Mp3>

A group of construction workers attacked the offices of the Camko City
development on the outskirts of Phnom Penh Monday night, lighting a car
on fire and throwing stones through the windows of the offices,
officials and workers said.

The angered workers are part of a workforce of more than 1,000 people
who went on strike Monday, claiming they were owed wages for the month
of October.

"The workers are angry enough to burn cars and throw stones because the
person who is in charge of the wages told them a lie," Ham Samnang, a
construction worker, said. "They promised to pay them by the 24^th . Now
it is the 27^th ."

Workers had no more money and were starving, he said, in addition to
owing rent.

The workers earn between $80 and $150 per month, he said.

A group of the striking workers gathered inside the compound of Camko
City Co. Monday and attacked the car of the company's South Korean
general manager.

Company officials declined to comment Tuesday, but Lim Samnang, an
advisor of administration at Camko City, said the company had erred by
not paying the workers on time.

The company usually pays its workers before the 25^th of the month, he
said, but the payment is currently late by two days.

Police said no workers were arrested during the demonstration. Camko
City is a South Korean investment of $2 billion developing 119 hectares
of commercial and residential areas in Phnom Penh's Russey Keo district.

Sok Sovanareth, president of the Cambodian National Federation of
Building and Wood Workers, said Tuesday the company should pay its
workers on time to avoid violence.

The European Union and the United Nations Spend Euro18.7 Million on Four Projects in Cambodia - Saturday, 25.10.2008

The European Union and the United Nations Spend Euro18.7 Million on Four
Projects in Cambodia - Saturday, 25.10.2008
Posted on 26 October 2008. Filed under: Week 583 |
The Mirror, Vol. 12, No. 583

"Phnom Penh: On 24 October 2008, there was a press conference at the
headquarters of the United Nations Development Program – UNDP – to
announce achieved partnership programs between the European Union and
the UNDP in Cambodia to improve the quality of life .

"The European Union provided Euro 18.7 million for the UNDP in Cambodia
in the sectors of health, governance, justice, and of rural development.

"During this conference, Mr. Raphael Dochao Moreno, the Chargé
d'Affaires of the Delegation of the European Commission to Cambodia,
said that the report on that day focused on different achievements of a
wide cooperation between the Commission of the European Community and
the secretariats, funding agencies, and different programs of the United
Nations, particularly in Cambodia, and it focused on the promotion of
human rights in development. The cooperation of the European Union and
the UNDP with Cambodia intends to achieve the UN Millennium Development
Goals.

"Mr. Dochao Moreno added that during recent years, the Commission of the
European Union had contributed more than Euro 18 million to finance the
implementation of different development projects in Cambodia. This
development projects relate to the health sector, the improvement of the
quality of life, rural development, capacity building for commune
councilors, as well as the expenses for the Khmer Rouge Tribunal.

"As for the expenses in the health sector, Euro 5.7 million go to the
Ministry of Health and the United Nations International Children
Emergency Fund – UNICEF. As for the strengthening of democracy and the
capacity building for village and commune councilors, the UNDP is
responsible for its administration by spending Euro 10 million. The UNDP
is responsible also for the administration of Euro 1 million for the
Khmer Rouge Tribunal and of Euro 2 million for rural development.

"At the same time, responding to questions by journalists, who had asked
what Cambodia should do to reach its development goals, the UN Resident
Coordinator and UNDP Resident Representative for Cambodia, Mr. Douglas
Broderick, said that Cambodia must have good governance, build up human
resources, eliminate corruption, organize the tourist sector well, and
especially develop investments in the agricultural sector – particularly
increasing paddy rice yield for exportation. Rasmei Kampuchea, Vol.16,
#4725, 25.10.2008

Newspapers Appearing on the Newsstand:
Saturday, 25 October 2008

Cambodian, Thai border committees ink agreement to ease border tension

Cambodian, Thai border committees ink agreement to ease border tension
www.chinaview.cn 2008-10-24 16:53:49

SIEM REAP, Cambodia, Oct. 24 (Xinhua) -- Regional border committees
of Cambodia and Thailand here on Friday signed an agreement to ease
their months-long tension along the border near the 900-year-old Preah
Vihear Temple.

The agreement was reached during the 11th annual meeting of the
regional border committees (RBC) attended by officers from the fourth
military region of Cambodia and the second army area of Thailand.

According to the deal, Thailand and Cambodia will cooperate to
realize peace at the border area and restore the region to its prior
situation, General Chea Man, chairman of Cambodian RBC and commander of
the fourth military region of Cambodia, told reporters at a press
conference.

At the area near the Preah Vihear Temple, both sides are determined
to keep the utmost restraint in order to avoid confrontation or armed
clash as previously occurred, he said.

The Thai side also made the same promise in its press release issued
to reporters here on Friday upon the conclusion of the two-day meeting.

On Oct. 15, a gunfire exchange between both troops near the temple
killed two Cambodian soldiers and one Thai trooper.

"Both sides agreed to cooperate with equality and we respect the
sovereignty and border of each other," said Chea Man.

"We will continue the talks to solve the issue with peaceful deals.
We have to exchange information, protect the environment along the
border, take action against crimes, make sure of economic development
along the border, and guarantee easiness for the people to have a proper
living standard," he said.

Meanwhile, Lt. General Wiboonsak Neeparn, chairman of the Thai RBC
and commanding general of the second army area of Thailand, told
reporters that the Thai side has affirmed its readiness to coordinate
with the Cambodian side to ensure peace, security and tranquility along
the Thai-Cambodia border.

In a statement issued here on Friday after that meeting ended, the
Thai military said it has achieved its objectives, namely "to develop a
good understanding and relationship between the armed forces with a view
to easing tension in the border areas."

It said the meeting has discussed how to deal with the narcotics
trade, among other things.

Under the Thai constitution, any agreement reached by the government
with another state needs parliamentary approval. The army statement said
Oct. 28 has been earmarked for parliament to debate border matters, a
date mentioned by Thai Foreign Minister Sompong Amornviwat in Beijing.

On Friday in Beijing, Cambodian Prime Minister Hun Sen and his Thai
counterpart Somchai Wongsawat reached consensus on the sidelines of the
ASEM Summit to avoid future clashes.

"The two sides have to advise our troops not to have confrontations
any longer," Sompong told reporters.

Cambodian Minister of Foreign Affairs and International Cooperation
Hor Namhong, standing alongside Sompong, echoed his counterpart,
describing the premiers' talks as "very good, very friendly."

In July, tensions ran high after the ancient Preah Vihear Temple was
awarded world heritage status by UNESCO, angering nationalists in
Thailand who still claim ownership of the site.

The tension later turned into a military stalemate, in which upto
1,000 Cambodian and Thai troops faced off for several weeks.

In early October, at least one Cambodian soldier and two Thai troops
were wounded during sporadic exchange of gunfire and two other Thai
soldiers were seriously injured after stepping on a landmine at the
border area, the report said.

In 1962, the International Court of Justice decided that the Preah
Vihear Temple and its surrounding area belong to Cambodia.

Editor: Du Guodong

Is Cambodia ready for its own stock market?

Is Cambodia ready for its own stock market?
Posted By: The Asia File at Oct 20, 2008 at 09:30:23 [General]

Capital markets can be vital tools of development, helping the better
companies in poorer countries to get access to the money they need to
grow, creating wealth and employment in the process.

However, given the fragile nature of stock markets, it is important that
countries don't run before they can walk. Which is why Cambodia's
decision to press ahead with the launch of its own stock exchange next
year is slightly concerning.

After all, this is a country where business and personal disputes are
still routinely settled with a late night shoot-out in the capital,
Phnom Penh. Is Cambodia really ready for the wild fluctuations, the
speculators and the scams that typically dominate new equity markets in
developing economies?

Whatever you think, you have to commend the Cambodian government's
resilience in sticking to its plans for a 2009 launch, despite the
ongoing global turbulence.

Hang Chuon Naron, secretary general of Cambodia's Ministry of Economy
and Finance, told the Phnom Penh Post that he hopes a stock market will
provide a more long-term source of finance than the foreign aid (around
$600m annually) that the country is currently reliant upon.

"We hope the stock exchange will provide longer-term finance compared to
what we have relied on in the past, such as banks, national budgets,
foreign aid and foreign investment," he said. "I think in five or ten
years, the stock exchange will play a key role in strengthening
Cambodia's financial sector, but we must proceed carefully to build
trust from our people and investors."

But while he's right about the long-term benefits of a stock market as a
cheap place to raise capital, the problem across the developing markets
of Southeast Asia is the pre-dominance of short-term speculators,
chancers and crooks.

This article in today's Bangkok Post sums up the dodgy share trading
scene over the disputed border in Thailand rather nicely.

"On any given day, investor cliques can join hands, even sometimes with
company management and major shareholders, to push share prices one way
or the other," the article notes. "For these investors, fundamentals are
meaningless - indeed, the larger and more prominent the company, the
less attractive it is for speculators, due to the greater difficulty in
manipulating prices for large-cap stocks." While Southeast Asia's
comparatively inexperienced and poorly funded regulators do their best
to get on top of these types of market abuse, they are generally
fighting a losing battle against the better-funded and more powerful crooks.

But trading scams on illiquid markets are not just the preserve of Asia.
When I covered London's Aim market for The Telegraph, I would get a
complaint at least once a week from an investor concerned about alleged
insider trading or ramping/deramping. And, on more than one occasion, I
shared lunch or a drink with small-cap executives and brokers who showed
a well-hardened disdain for market rules and minority shareholders.

Malaysia Seeks To Diffuse Thai-Cambodia Border Row

Malaysia Seeks To Diffuse Thai-Cambodia Border Row
News 2008-10-20 16:31

KUALA LUMPUR: Malaysia's foreign minister said Monday (20 Oct) his
planned visits to Thailand and Cambodia are a friendly effort to help
diffuse a border dispute between the neighbors, and not interference in
their affairs.

Rais Yatim said Malaysia and the 10-member Association of Southeast
Asian Nations, or ASEAN, have an interest in ensuring the border
conflict does not intensify and jeopardize regional peace.

The dispute, if not checked, could embarrass ASEAN and mar its
credibility as a regional bloc, he warned.

A brief but deadly gunfight erupted between Thai and Cambodian soldiers
last week over disputed land near the centuries-old Preah Vihear temple,
sparking fears of war.

Cambodian Prime Minister Hun Sen has rejected outside help in the conflict.

"We don't consider ourselves as (outsiders). We consider ourselves
within ASEAN and if we cannot play the role of a neighbor, the role of a
good friend, then what are we for?" Rais told reporters.

"This is not a positive dot for ASEAN. This could be looked at as a very
questionable development ... we have to convince the world that we can
take care of our problems and relationship with each other," he said.

Malaysia, Cambodia and Thailand are all members of ASEAN, which has a
policy of noninterference in member nations' domestic affairs. ASEAN
also includes Brunei, Indonesia, Laos, Myanmar, Philippines, Singapore
and Vietnam.

Rais Yatim said he would fly to Thailand on Tuesday (21 Oct) or
Wednesday (22 Oct), and to Cambodia later this month, to urge both
parties to resolve the conflict through peaceful negotiations.

He said he would submit a letter of concern from Prime Minister Abdullah
Ahmad Badawi to the Thai and Cambodian leaders and urge them not to
"resort to physical or military means."

The World Court awarded the 11th century temple to Cambodia in 1962, but
sovereignty over surrounding land has never been clearly resolved.

Hun Sen is expected to meet Thai Prime Minister Somchai Wongsawat later
this week in their first face-to-face meeting since the deadly gunbattle
erupted 15 Oct, killing two Cambodian soldiers and wounding 10 from both
sides.

Rais said his visits are partly in response to a request by ASEAN
Secretary-general Surin Pitsuwan for member nations to make "friendly
overtures so that the skirmish is undertoned." (AP)
MySinchew 2008.10.20