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Tuesday, May 13, 2008

New Cambodia National Airline

While Cambodia’s history has been one of highs and lows, it seems that the prospects look good for this South East Asian country with signs of a surge in tourist visitors and prompting the Cambodian government to release news of its plans to re-launch a national carrier to promote air travel and more flights to Cambodia.

The news of a deal with Indonesian giant Rajawali to develop a new Cambodian national carrier has been greeted with surprise given that the government’s early attempt at such a venture collapsed with massive losses in 2000. However, using the strength and experience of massive conglomerate Rajawali, there are genuine hopes that this new airline venture will be a success. Recent figures show that the country had over 2 million visitors in 2006, 60% of whom travelled by air – creating a large base for the national carrier to tap into.

Dubbed the ‘New Thailand’, Cambodia offers the opportunity to experience virgin beaches and undiscovered landscapes to date as yet untainted by tourism development. General tourism numbers in Cambodia are also on the up with a 20% increase reported in 2007 alone. The main hub of the Cambodian tourist sector seems to be Sihanoukville where the natural terrain and beautiful beaches such as Serendipity Bay are attracting large numbers of foreign visitors eager to be one of the first to experience South East Asia’s newest hotspot. While the Cambodian authorities are desperate to develop the country’s tourism economy, they are also acutely aware that there is a need to consider the environment and the long term implications making an investment in a tourist based property development in Cambodia something of a long term venture.

Whilst the development of Cambodia’s tourism sector will move at a slower pace than many investors would hope, the wider impact upon the country’s economy should be rapid. As local economies around the country continue to benefit from the growing numbers of tourists visiting, there will be more money for the population to spend and many are expecting a steady rise in property prices. The policies of the government and controlled growth of the economy are vital not only to the country as a whole, but the property sector in particular.

Property prices at the moment are relatively low, the norm for emerging markets but when compared to other similar regions of the world and there is the potential for long term capital gains and substantial rental income in the medium to longer term. A new national carrier is the first step for Cambodia along the road to tourism success.
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Cambodia: Build Bright Get First Win

Build Bright University FC scored their first win in the Cambodian Premier League 2008 when they overcame Intry Kraham Post FC 2-0 at the National Olympic Stadium.

Prom Puthisith was quick to strike the first goal as early as the second minute before Intry shored up their defence to deny Build Bright a bigger lead at the break.

But five minutes to the end, Olisaemeka made sure of the three points for Build Bright with the second goal for their first three points of the season.

Build Bright started their campaign this year on the wrong footing when they stumbled to a 3-2 loss to Phuchung Neak FC.

In the meantime, Khemara Keila FC nailed their second win of the season with a close 2-1 win over Phuchung Neak FC.

But it was Phuchung Neak who made the score sheet first when Hok So Chovorn grabbed an 11th minute lead to give Khemara some anxious moments.

The early goal in the second half off Tunjia Yoyinka (46th minute) proved pivotal as Ratha then completed the win for Khemara with the winning strike on 72nd minute.
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Royal family of Cambodia supports China's quake-relief works

PHNOM PENH, May 13 (Xinhua) -- A deputy of the royal family of Cambodia on Tuesday presented 50,000 U.S. dollars and two letters of sympathy to the Chinese Embassy to express the family's support for China to carry out relief works in the earthquake-affected areas.

King Norodom Sihamoni and king's father Norodom Sihanouk respectively wrote letters to Chinese President Hu Jintao and Premier Wen Jiabao to express their sympathy for the victims and their families, as well as their support for the Chinese government to salvage the survivors, said a press release from the embassy.

Meanwhile, Sihanouk donated 50,000 U.S. dollars for China to beef up its relief works, it said

Chinese Ambassador Zhang Jinfeng expressed deep gratitude to the royal family and informed the deputy about the current situation in the disaster-affected region.

A 7.8-magnitude quake rocked Wenchuan county, 159 km northwest of the southwest Sichuan province's capital of Chengdu, at 14:28 (0628 GMT) on Monday, killing thousands of people in eight affected provinces.
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