$23.2B development project for Kep is rubber-stamped...

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Anchor Moy
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$23.2B development project for Kep is rubber-stamped...

Post by Anchor Moy »

Article from the PPP, a sort of introduction to the way development projects are done in the KOW.

Where to start ? A minister's subordinates have rubber-stamped a huge $23.2B investment project for Kep run by the wife of the very same minister. However, the project has been approved before there is anything to approve. The mega-project itself is still virtual; studies have not even begun, let alone submitted for approval, and officials say that the development probably won't even happen. :?

As for the "independent think tank founded by the minister in question"... priceless. :thumb:

Massive $23.2B project gets ‘green light’
Fri, 14 October 2016
Jack Davies, Kali Kotoski and Cheng Sokhorng

Several subordinates of a senior minister within the office of the prime minister have registered and rubber-stamped a gargantuan $23.2 billion investment project chaired by the minister’s wife, while officials in the know say the project stands little chance of getting off the ground.

The massive project was given the green light by Hing Thoraxy from the Council of Ministers and a senior researcher at the Cambodian Institute for Cooperation and Peace (CICP), an independent think tank founded by the minister in question, Dr Kao Kim Hourn.

The project, which is supposed to break ground this year according to official government documents, shows a 4,158-hectare multipurpose tourism resort and a 144-hectare marina that straddles the border between Kep and Kampot province financed by Pallas Brilliant Investment and Development Co Ltd...

According to Ministry of Commerce records, Pallas was founded in November 2015, with Kim Hourn’s wife Khem Rany as its chairperson. Those same records give the company’s registered address as the University of Cambodia, where Kim Hourn is president...

The email address the company was registered to belongs to a Ban Chenda, director of programming at Southeast Asia Television, founded by Kim Hourn...

Legal expert Sok Sam Oeun said yesterday that Cambodian legislation lacks a proper definition of conflict of interest, but that by most generally accepted definitions this case would appear to fit the bill...
http://www.phnompenhpost.com/business/m ... reen-light
CJM555
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Re: $23.2B development project for Kep is rubber-stamped...

Post by CJM555 »

The real issue is the rights of the land.
'Pallas Brilliant Investment and Development Co Ltd' obviously don't have $23.2b
I forget the name of the game played at local markets which on appearance resembles a Ponzi scheme.
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Re: $23.2B development project for Kep is rubber-stamped...

Post by phuketrichard »

LOL
....gargantuan $23.2 billion investment project chaired by the minister’s wife,
my god Khmers think BIG
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
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Re: $23.2B development project for Kep is rubber-stamped...

Post by Duncan »

phuketrichard wrote:LOL
....gargantuan $23.2 billion investment project chaired by the minister’s wife,
my god Khmers think BIG

Hey, barangs can think big too. I'm going to buy a few villas in this development when it's finished and rent them out.





sent on my LG Smart tv cause my laptop has given up the gost.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Re: $23.2B development project for Kep is rubber-stamped...

Post by bolueeleh »

good ol "development is coming, so i can sell my land (or grab other people land) for a higher price" scam, they are decades behind in property scams :facepalm:
Money is not the problem, the problem is no money
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Re: $23.2B development project for Kep is rubber-stamped...

Post by frank lee bent »

they get the land concession and float a grandiose project, sell shares or use it as security.
belly flop and run away with the money.
new concession granted
repeat
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Re: $23.2B development project for Kep is rubber-stamped...

Post by Anchor Moy »

Grandiose projects on the coast - just trying to keep up - these come to mind, but there must be more... and around PP is probably even more crazy.
1/ huge project on Koh Rong including resorts,ferry port and itl airport - Royal group
2/Koh Kong resort and itl airport - Chinese-owned firm Tianjin Union Development Group (UDG)
3/ Ream Park development project - Chinese also I think ?
4/ oil and ferry port Kampot - Ty Pheak, Cambodian tycoon
5/ D'Seaview super condo and lifestyle construction near Sokha beach, Sihanoukville - ??
6/ some sort of skyscraper project behind or near Samudera, SV - condos advertised on fb - ??

That's just from memory, but I'm sure there's a least a few more around SV. Please add on here. :popcorn:
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Re: $23.2B development project for Kep is rubber-stamped...

Post by Rama »

I noticed a billboard in Phnom Penh today, opposite the Gold Tower 42 shell, for 'Blue Bay Sihanoukville' on Independence Beach. Looks quite ambitious
Image
http://realestate.com.kh/blue-bay-condominium/3127440/
And on realestate.com.kh as a similar listing is Royal Bayview
Image
http://realestate.com.kh/royal-bayview/3143715/

It's been a long time since I went to Sihanoukville.
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Re: $23.2B development project for Kep is rubber-stamped...

Post by bolueeleh »

frank lee bent wrote:they get the land concession and float a grandiose project, sell shares or use it as security.
belly flop and run away with the money.
new concession granted
repeat
:thumb: :thumb: :thumb: this kind of shit have been going on long enough all over the world, companies doesnt give a shit as well, if their investment tanked, they just issue more shares or bond to cover back that loss, in the end its those pensioner who bought all those shares or bonds that suffers, even worst some of them dont even know what they bought, conned by their "financial adviser" what we need is a world revolution where all these greedy corporate mofos are dragged onto the streets and executed nazi style
Money is not the problem, the problem is no money
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Re: $23.2B development project for Kep is rubber-stamped...

Post by Raybull »

Anchor Moy wrote:Grandiose projects on the coast - just trying to keep up - these come to mind, but there must be more... and around PP is probably even more crazy.
1/ huge project on Koh Rong including resorts,ferry port and itl airport - Royal group
2/Koh Kong resort and itl airport - Chinese-owned firm Tianjin Union Development Group (UDG)
3/ Ream Park development project - Chinese also I think ?
4/ oil and ferry port Kampot - Ty Pheak, Cambodian tycoon
5/ D'Seaview super condo and lifestyle construction near Sokha beach, Sihanoukville - ??
6/ some sort of skyscraper project behind or near Samudera, SV - condos advertised on fb - ??

That's just from memory, but I'm sure there's a least a few more around SV. Please add on here. :popcorn:
There's the one between Sokha and Independence beaches, the one on Independence itself, and the one just south of Victory Beach.
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