Kingdom's Financial Sector Healthy
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R 3452 E MB U N SSUE I FRIDAY, JUNE 26, 2020 Intelligent . In-depth . Independent www.phnompenhpost.com 4000 RIEL KINGDOM NEUTRAL HOPE FOR GROWERS IMF FORECAST BLEAK ON ASEAN-CHINA AS MORE FARMING AS VIRUS GAINS STEAM TERRITORIAL ROW CONTRACTS INKED IN THE AMERICAS NATIONAL – page 2 BUSINESS – page 6 WORLD – pAGE 11 Kingdom’s financial sector healthy May Kunmakara impact, he said, whereas the financial measures – lowering the reserve re- The combined measures were es- Commercial Bank Plc, told The Post and agriculture sectors have contin- quirement rate (RRR), delaying the timated to make an additional $2 that his bank has seen positive busi- AMBODIA’S financial sector ued to grow. conservation capital buffer (CCB) billion available to businesses. ness performance and continued remains on a sustainable “The NBC has laid out a slew of requirement to 2021, and reducing The NBC also issued a directive for stable growth in recent months. growth path despite the measures to improve arrangements the interest rate on the liquidity- financial institutions to restructure Total assets have grown seven per Covid-19 pandemic squeez- for banks and financial institutions providing collateralised operation loans for four priority sectors – gar- cent from the end of last year, not ingC crucial industries, National Bank to command enough liquidity and (LPCO). ments, construction, logistics and counting for the $10 million raised of Cambodia (NBC) governor Chea encourage them to re-schedule loans It also lowered the interest rate on transport (with emphasis on taxi for its corporate bond-listing on the Chanto said. to better provide for clients affected the negotiated certificate deposits and tuk-tuk drivers). Cambodia Securities Exchange, he Tourism, garments and footwear by the pandemic,” said Chanto. (NCDs) and its liquidity coverage Shin Chang-moo, the president of have borne the brunt of the Covid-19 In March, the NBC launched five ratio (LCR) requirement. South Korean-owned Phnom Penh CONTINUED – page 7 UK teen who threw boy off Tate balcony slated to be sentenced A BRITISH teenager who The court was told he threw a six-year-old French claimed to have heard voices boy off the 10th floor of Lon- tell him he had to hurt or kill don’s Tate Modern art gallery people, and that he said to was to be sentenced on Thurs- police he wanted to “prove” he day for attempted murder. had a mental health problem. Jonty Bravery, 18, has admit- The child’s identity is pro- ted trying to kill the child on tected by court order because the viewing platform of the of his age, but his parents have riverside tourist attraction on issued statements through a August 4, last year, in front of GoFundMe page that has so a crowd of horrified visitors. far raised almost €234,000 The hearing at the Central ($260,000) for his care. Criminal Court, the Old Bailey, In the latest update on May 15, in central London was due to they said: “Our little knight has start from 0900 GMT. continued to make progress”. The young boy, who was vis- He spends his days in a shape- iting London with his family at moulded seat fixed to his wheel- the time of the attack, broke his chair but can sit on the floor spine, legs and arms as he fell long enough to play a little. Ancient relic onto a fifth-floor roof below. “He cannot yet move to Kratie provincial authorities dismantle a 200-year-old house that formerly had 100 pillars. The house will be rebuilt at its new Prosecutors say he was lucky retrieve a car that has gone too site to serve as a symbolic piece of history for younger generations to visit. INFORMATION MINISTRY STORY > 3 to be alive, but according to an far, for example, but he can update on a fundraising web- play by staying in the same site set up by his family, he still place by grabbing his toys with struggles to talk, eat and walk. his right arm,” they said. At a hearing in December, With a walker he can stand Three die in Kandal lorry crash Bravery’s lawyer said his client, and with help can take a few who was 17 at the time of the steps, and “is very impatient Khouth Sophak Chakrya Pich Sarath, a 38-year-old from road markings before driving named told The Post on Thurs- offence, had been diagnosed to be able to walk on his own Kien Svay district’s Chey Kam- into the lane of the worker- day that the accident killed a with autistic spectrum disor- as before!” they added. THREE people were killed and pok commune, was killed in transport van,” he said. clever and active garment work- der and obsessive compulsive Speech is still difficult and 53 injured when a lorry carrying the accident. He said the lorry was towed er and injured 26 others, which disorder and was likely to also he cannot eat and drink prop- soil collided with a worker-trans- Lun Chan, 34, a female gar- away and the van was being has, in turn, disrupted the fac- have a personality disorder. erly, but he “begins to remem- port van in Koki Thom com- ment worker at Skyline Apparel detained at the district police tory’s supply chain. Bravery was seen wander- ber new things, which means mune, in Kandal province’s Kien Co Ltd, and another unidentified station. Police, he said, are Sum Sophorn, the deputy ing about the viewing plat- that the connections are grad- Svay district on Wednesday. female worker at Hong Xing fac- waiting for representatives director of the National Social form before he threw the boy ually being re-established in Commune police chief Suon tory also died in the accident. from both sides to come and Security Fund (NSFF), told The over the edge, according to his brain”. Sambath told The Post on “Our investigation found solve the case. The bodies of Post that the NSFF will cover an earlier hearing. “There is still a long way to Thursday that the injured had that this terrible traffic acci- the deceased were handed over treatment costs for the injured. He then told a member of go but we are holding on, been sent to a hospital in dent was caused by the lorry to their families for final rites. Money was also offered to fam- staff: “I think I’ve murdered even confined and masked” Phnom Penh for treatment. driver. He drove carelessly and A Skyline Apparel administra- ilies of the deceased for funeral someone. I’ve just thrown because of the coronavirus Thom said lorry driver Mom ignored the traffic signs and tive staffer who asked not to be expenses. someone off the balcony.” outbreak, they said. AFP Keeping it riel: Cambodia Don’t miss our Special Report steps up de-dollarisation Inside page 8-9 2 THE PHNOM PENH POST JUNE 26, 2020 WWW.PHNOMPENHPOST.COM National Two cousins Cambodia to remain neutral on drown in ASEAN-China territorial dispute lotus pond Ry Sochan on outskirts INISTER of For- eign Affairs and Kim Sarom International Cooperation TWO girls drowned in a lotus pond MPrak Sokhonn told an infor- on Wednesday on their way home mal meeting of ASEAN for- from a rice field near their house in eign ministers on Wednesday Kambol commune, Kambol district, that Cambodia will stay neu- Phnom Penh. tral on the South China Sea. Commune police chief Phan Phoe- He appealed to all stake- un identified the girls as 10-year-old holders to continue fostering Ser Keo Raksa and 11-year-old Rithy a conducive environment Vattey. The two girls were cousins that contributes to the end and both attended Ang Boeng Chek of the territorial conflict. primary school. They both lived in Sokhonn made his state- the commune. ment during an ASEAN Po- After checking the bodies, Phoeun litical-Security Community said: “Experts have determined that (APSC) meeting and the 26th the two victims died by drowning.” ASEAN Coordinating Council According to local authorities, the (ACC) via video conference. parents of both victims are garment The meetings were being factory workers who work at night held before the 36th ASEAN and rest during the day. summit on Friday. Before the incident, Vattey, Raksa and “On the South China Sea their seven-year-old brother walked to issue, Cambodia, a non- a rice field 300m from their house with claimant state, wishes to their 70-year-old grandmother. stay neutral on territorial The grandmother walked around disputes, and we hope that the rice field until 10am, and then all parties concerned will the three children asked her to ac- continue to maintain a company them home. conducive environment for They walked on a small path along safeguarding peace, security the rice fields with a lotus pond and stability in the region,” nearby. Vattey slipped and fell into Sokhonn said. The virtual ASEAN Political-Security Community (APSC) meetings were held before the 36th ASEAN summit on Friday. FOREIGN MINISTRY the pond. Raksa tried to help and He said besides the epide- she fell into the pond as well. miological and socio-eco- ested in choosing sides and ing the Rohingya conflict will be hosted by Vietnam- Sea was correct because The boy saw their siblings drown- nomic challenges, ASEAN is are supportive of a rules- in Rakhine state in western ese Prime Minister Nguyen Cambodia is not linked to ing and shouted for help from his facing mounting geopoliti- based multilateral system, Myanmar and issues on the Xuan Phuc, the rotating this territorial dispute.