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NEWS UPDATES Asean Affairs   September 21, 2018  






Canadia sets aside $150M for SMEs

Canadia Bank, the Kingdom’s second largest bank by assets, has reserved a $150 million financing package designed to grant loans to small and medium-size enterprises (SMEs), the bank’s executive Charles Vann confirmed Wednesday.

Vann said that the new financing package will charge interest rates as low as 7.88 per cent per year.

“It is not much different from our existing loan types, but just the fact that at previous times we never allocated a large financing package for a specific sector,” Vann said.

“We see the strong growth of Cambodian SMEs and they need loans for expansion, so we decided to reserve a larger package for SMEs loan.”

Canadia Bank earned a net profit of about $80.78 million in 2017, according to the National Bank of Cambodia’s annual supervisory report.

Prime Minister Hun Sen promised last December to start a new bank with an initial capital round of $100 million to provide financing for SMEs.

Since the announcement, no progress toward such a bank has been reported.


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ASEAN NEWS UPDATES      Updated: 04 January 2011

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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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