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Government Pulls 18 “Princely” Casino Licenses
The government has cancelled the licenses of 18 casinos that have been connected to the network of Prince Group founder Chen Zhi, and Li Kuong, the alleged owner of a Sihanoukville scam compound. Another 10 licenses have been suspended. Senior Minister Chhay Sinarith says the action is evidence of a heartfelt (our word, not his) crackdown after Washington put a third round of sanctions (next story) on the group. Authorities have frozen more than $300 million in bank accounts, but it isn’t clear that all of that money belonged to Prince. They are also trying to get forfeiture of property worth hundreds of millions more. Police have so far raided 972 locations, charged 5,032 suspects and sent 23,760 foreigners packing (see story “Scam Crackdown Leaves Hundreds of Freed Workers Stranded” below).
Read more: The Straits Times (license revocations), Khaosod English (asset freezes), Cambodianess (crackdown figures), Khmer Times (government account), Free Malaysia Today (US sanctions context)
US Sanctions Prince-Linked Insurer, Airline
The US Treasury has sanctioned CB General Insurance and Prince International Airlines in its third round of action against the Prince Group network. The list identifies four people and 41 entities, including 23 registered in Cambodia. US officials say Chen Bo, a Prince executive who was sanctioned in June, controls both firms. His CCU Commercial Bank lost its license in August. Washington also sanctioned his wife, He Yujing, for (allegedly) holding his property, and co-director Visal Pang in addition to 11 of Pang's businesses.
Read more: Khmer Times (sanctions list), CamboJA News (company links), Kiripost (people sanctioned), Cambodia Investment Review (business impact)
Hun Manet Praises US-Sanctioned Tycoon LYP
Prime Minister Hun Manet has warmly given his thanks to Ly Yong Phat, a senator who is under US Treasury sanctions, after the opening of five Kampong Thom schools. The facilities were built with $2.3 million from the Cambodian Oknha Association, which is headed by Ly Yong Phat. The latest US trafficking report has kept Cambodia at its “Tier 3” and says that local authorities have taken no action against the tycoon despite evidence connecting scam centers to companies he owns or controls. Ly Yong Phat, of course, denies any involvement. The government officially says it is investigating properties belonging to two senators, including him.
Read more: CamboJA News
Scam Crackdown Leaves Hundreds of Freed Workers Stranded
Nearly a year into the crackdown on scam compounds, hundreds of freed workers are still stranded. Former workers claim that they have been subject to arbitrary detention, police harassment and nights on the street because the government prevents them from being housed. An estimated 100,000 people worked inside the compounds, many after being lured by jobs that didn’t really exist. Li Ling of the Eos Collective says there is no evidence that officials are properly screening freed workers for signs of trafficking.
Read more: AP News
Draft Budget Ups Security, Cuts Rural Development
The draft 2027 budget would raise spending on defense, security and public order by nearly 14 percent, to $1.61 billion, on an overall spending increase of just over 3 percent. At least seven ministries would lose a combined $270 million if the draft is approved. Rural Development would get the deepest cut (nearly a third!), and Agriculture, Forestry and Fisheries would lose about a sixth of their budget even as farmers are battling a prolonged El Nino. Spending on local administration would go up by about a sixth to $1.24 billion, and includes development money for every commune, even though the Interior Ministry claims that the system is riddled with collusion and misuse of commune funds.
Read more: CamboJA News (ministry cuts), CamboJA News (commune fund misuse)
Chinese FM Hosts Prak Sokhonn and Thai Counterpart
Chinese Foreign Minister Wang Yi brought Prak Sokhonn and Thailand's Sihasak Phuangketkeow together for informal “tea talks” in Beijing during the recent Lancang-Mekong foreign ministers' meeting. Beijing shared little more than the normal diplomatic boilerplate to describe the occasion, calling the exchanges "constructive" and saying the ministers discussed confidence-building and relations between the neighbors.
Read more: Cambodianess (tea talks), Cambodianess (Beijing's account)
Macron Plans Francophonie Summit State Visit
President Emmanuel Macron is planning a state visit to coincide with the 20th Francophonie Summit in Phnom Penh next week. A FrancoTech innovation fair is running alongside it. Opposition adviser Rong Chhun and at least 20 Nation Power Party members have asked Macron to push for the restoration of Chhun's political rights after the Cambodian Supreme Court upheld his incitement conviction and five-year political ban. Freedom House says that Cambodia is "Not Free," with a score of 22 out of 100, but government spokesperson Pen Bona was keen to remind everyone that "no country interferes in the affairs of another sovereign state."
Read more: Phnom Penh Post (state visit), CamboJA News (opposition appeal), Cambodia Investment Review (summit business events)
F&N Opens New Plant for a Rebuilding Year
Fraser & Neave says that FY2027 is a rebuilding year for its local business, and expects to deploy no major new capital. The owner of the “Gold Coin” brand has fired up commercial production at a new plant, as it works to replace imports from Thailand and Malaysia after border disruptions and nationalistic sentiment crimped sales. CEO Tarang Gupta says the market has changed and a business that was once big, cheap to run and highly profitable has now become a "small business, [with] high cost."
Read more: The Edge Malaysia
Sand Exports to Singapore Restart
More than 694,000 tons of sand worth $3.47 million went to Singapore from June to September as exports started up again after a nine-year ban. The sand is coming from the Trapeang Rung River in Koh Kong, where provincial authorities say they have approved the mining. A ban in 2017 came after it was revealed that dredging by politically connected companies had removed sand worth hundreds of millions of dollars from the estuaries. The new operation is 10 kilometers upstream of Koh Sralao, a town that’s home to about 300 fishing families where one man said he had seen about 10 barges and is now unable to work his old stretch because they would destroy his nets.
Read more: Mongabay
Stock Trading Closes in on $1 Million a Day
Average daily trading on the Cambodia Securities Exchange rose to 3.9 billion riel, nearly $1 million, through the month of October. That’s above the 3.3 billion riel daily average through the third quarter. The CSX Index saw a four-year high of 650.62 in late September, then eased on profit-taking, but has been able to muster a stand just over 600. Dividend yields stand at about 7 percent.
Read more: Cambodia Investment Review
Groups Count Abuses Against Journalists
Media, rights and labor groups have counted 29 abuses against journalists and outlets through the period of January to September. Nineteen of them involved legal threats, summonses, detention or prison, and the 13-group coalition says the authorities were the main culprit. Four journalists are currently in prison. Phorn Sopheap and Pheap Pheara each got 14-year sentences for “supplying a foreign state with information prejudicial to national defense.” The coalition wants to see independent investigations. Cambodia is listed 151st of 180 countries in the 2026 World Press Freedom Index, and at least 15 journalists have been killed in the country since 1994.
Read more: Cambodianess (abuse tally), CamboJA News (jailed journalists)
That's all for this week, thanks for reading. Your voice matters to us. Feel we're missing something? Have additional sources to suggest? Don't hold back- hit reply and tell us what you think.
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