Cambodia Morning News For June 7

Bank services VAT seen as ‘inefficient’
Banking sector leaders have expressed concern over a new government decree that places additional fees on financial services, warning that the costs of what some have described as an “impractical and inefficient” tax would likely be passed along to consumers.
– The Phnom Penh Post

Acleda Bank reports $28M net profit in Q1
Aceleda Bank, Cambodia’s largest bank by assets, reported a net profit of $28.39 million in first quarter this year, down slightly from $30.19 million in the same period in 2016, according to the bank’s latest financial report.
– The Phnom Penh Post

Malaysia’s RHB Bank, AmBank in merger talks
Malaysian financial firms RHB Bank and AmBank Group have entered negotiations for a potential merger, according to media reports.
– The Phnom Penh Post

How Cambodia’s record deforestation is driving crippling drought
Massive deforestation is playing a crucial role in the droughts that have devastated Cambodia. But despite an official ban on timber exports, forests continue to be cut down at a record rate
– Southeast Asia Globe

Slow Election Count Raises Eyebrows
The National Election Committee (NEC) continued on Tuesday to say slow internet and blurry photographs were to blame for delays in publishing election results for 344 remaining communes, with its spokesman offering no timeline for when the public could expect complete results. Some parties and observers questioned why the process was taking so long.
– The Cambodia Daily (paywall)

Zuellig Pharma Cambodia appointed Vice-Chairman of the Cambodia Healthcare Committee
Through this appointment, Zuellig Pharma Cambodia will reinforce its position as a driver of compliance across Asia
– Bio Spectrum

Feature photo Asian Development Bank
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Cambodia morning news by AEC News Today is your one stop source for Cambodia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.