The Phnom Penh Post News in Brief

(Post by CAAI News Media)

In Brief: Bourse prakas passed

Tuesday, 06 October 2009 15:00 Nguon Sovan

CAMBODIA’S securities regulator signed off on two prakas (edicts) Friday, one regulating securities firms and the other setting out rules for operators within the securities market, said a statement Friday by the Securities and Exchange Commission of Cambodia (SECC). The prakas are part of 30 being prepared by the SECC to run the bourse, it said. Among the minimum financial requirements set, securities firms wishing to underwrite offerings must have minimum capital of US$9.52 million, dealers $6 million, brokers $1.42 million and investment advisors $0.97 million, the prakas said.

In Brief: New taxi firm launches

Tuesday, 06 October 2009 15:00 Chun Sophal

CAMBODIA’S second taxi company began operations in the capital Monday with a fleet of 20 vehicles. South Korean-owned Trans Choice Cambodia Co has earmarked US$3 million to set up the company and has already spent $500,000 to buy its starting fleet and employ and train 60 drivers, company spokesman Din Radeth said. The company, which is operating under a 20-year licence from the government, will go head-to-head with Global Trade Development (Cambodia) of China, the Kingdom’s first metred taxi service – and the city's tuk-tuks and motodops – for passengers.