Wednesday, July 1, 2009
National Bank of Cambodia deploys Oracle soln
The company implements its integrated core banking system for supporting the bank's operations
CIOL News Report
Tuesday, June 30, 2009
BANGALORE, INDIA: Oracle Financial Services Software, a majority-owned subsidiary of Oracle, announced today that National Bank of Cambodia has selected Oracle FLEXCUBE as the banking platform for its operations.
As the regulator, National Bank of Cambodia plays an important role in the design and implementation of the financial sector development program for the Kingdom of Cambodia.
The implementation of a new, integrated core banking system is viewed as a critical component of the development program and has the ongoing support of the Asian Development Bank, said a press release.
"We see technology as a key enabler in the modernization of our financial system and are taking steps to deploy a core banking system that provides a platform for effectively and efficiently managing growth," said Thai Saphear, Head of the Governor's Office, National Bank of Cambodia.
He added that in Oracle FLEXCUBE, we have found a solution with the comprehensive functionality we require as a central bank.
Oracle FLEXCUBE would help automate National Bank of Cambodia's current processes for operations across deposits, loans, foreign exchange, money markets, securities, funds transfer and asset management.
The company would enable National Bank of Cambodia to take advantage of transaction-processing capabilities and process framework to help standardize operations and incorporate industry best practices into the bank.
The project includes two local partners, interFlex Co. Ltd and Neeka Ltd, said the release.
interFlex will provide National Bank of Cambodia with environmental software and implementation services for the core banking implementation. Neeka, part of the Thakral Group of Companies, would provide the hardware infrastructure and support services for the project.
"National Bank of Cambodia's efforts to modernize the banking industry in the country are extremely important," said A. Srinivasan, chief operating officer and vice president, Sales, Asia Pacific, Oracle Financial Services Software.
He added that they are confident that National Bank of Cambodia's selection of Oracle FLEXCUBE would play an important role in ensuring that Cambodia is prepared for an era of growth and expansion.
Location, transport to benefit Cambodia
The Phnom Penh Post
Monday, 29 June 2009
A CONFERENCE to help develop logistics in the Kingdom heard that Cambodia ought to benefit in the future from its location.
The conference, hosted by the Japan External Trade Organisation (JETRO) and Cambodia Freight Forwarding Association (CAMFFA), also heard
that infrastructure improvements had already benefitted the country.
Yasuo Hayashi, chairman and CEO of JETRO, told attendees that Japan was keen to expand its logistics and transportation relationships with Cambodia.
"Cambodia has not yet entered the regional transportation system, but it is at the centre of Indochina, so I believe that it will be most useful if Cambodia is accepted into the system," he said. "It will help to develop Cambodia."
His remarks were echoed by Japan's ambassador, Katsuhiro Shinohara, who praised the development of the seaport in Sihanoukville.
Teuk Reth Kamrong, Ministry of Commerce undersecretary of state, said she sought rapid infrastructure development to boost the economy and trade.
And Sin Chanthy, CAMFFA's secretary general, said having Japan as a partner was useful.
"Even though our infrastructure is not as good as others, our seaports, airports and roads have been developed," he said. "The next step is to appeal to investors to come here."
However, Hironobu Kurata, secretary general of the Japanese Business Association in Cambodia and president of Kurata Pepper, said transport remains complicated and slow for now.
Monday, 29 June 2009
A CONFERENCE to help develop logistics in the Kingdom heard that Cambodia ought to benefit in the future from its location.
The conference, hosted by the Japan External Trade Organisation (JETRO) and Cambodia Freight Forwarding Association (CAMFFA), also heard
that infrastructure improvements had already benefitted the country.
Yasuo Hayashi, chairman and CEO of JETRO, told attendees that Japan was keen to expand its logistics and transportation relationships with Cambodia.
"Cambodia has not yet entered the regional transportation system, but it is at the centre of Indochina, so I believe that it will be most useful if Cambodia is accepted into the system," he said. "It will help to develop Cambodia."
His remarks were echoed by Japan's ambassador, Katsuhiro Shinohara, who praised the development of the seaport in Sihanoukville.
Teuk Reth Kamrong, Ministry of Commerce undersecretary of state, said she sought rapid infrastructure development to boost the economy and trade.
And Sin Chanthy, CAMFFA's secretary general, said having Japan as a partner was useful.
"Even though our infrastructure is not as good as others, our seaports, airports and roads have been developed," he said. "The next step is to appeal to investors to come here."
However, Hironobu Kurata, secretary general of the Japanese Business Association in Cambodia and president of Kurata Pepper, said transport remains complicated and slow for now.
CEDAC due to ship its first batch of organic brown rice
The Phnom Penh Post
Monday, 29 June 2009
NGO says $66,000 contract with US firm Lotus Food will see 60 tonnes of rice sold to Cambodia's largest export market.
Photo by: SOVANN PHILONG
Organic CEDAC products - including rice - are displayed in a Phnom Penh store.
THE Cambodian Centre for Study and Development in Agriculture (CEDAC) has announced the export of its first batch of organic brown rice.
Lang Senghorng, the head of enterprise at the development NGO, said US firm Lotus Food had contracted to buy 60 tonnes of organic brown rice at US$1,100 per tonne.
"We hope this export deal will help increase knowledge of Cambodian rice, because that will help to improve our rice market," Lang Senghorng said.
The NGO, which was set up in 1997 to develop sustainable agriculture and rural development, signed a previous deal in 2007 to supply 450 tonnes of white organic Jasmine rice to German firm Richers for delivery between 2010-12. Richers will pay US$1,400 per tonne for that order.
Lang Senghorng said CEDAC's organic rice farming community has 8,000 members who grow rice on 2,500 hectares. Earlier this year it exported 15 tonnes of organic rice to Malaysia.
The rice is certified as organic by BCS Oeko-Garantie, a German certification company.
The Kingdom produces 7 million tonnes of rice annually and is looking to formalise the trade in rice as well as increase local milling capacity to add value.
The government announced last week a deal to sell 1,500 tonnes of non-organic rice to Brunei later this year, with a view to boosting those sales in future years.
Tes Eda, the director of state-owned rice exporter Green Trade Enterprise, said his company has exported just 1,000 tonnes of non-organic rice in the six months of this year. Most of that went to France. He said rice is exported by a number of companies and blamed a lack of supply on the limited export volumes.
Monday, 29 June 2009
NGO says $66,000 contract with US firm Lotus Food will see 60 tonnes of rice sold to Cambodia's largest export market.
Photo by: SOVANN PHILONGOrganic CEDAC products - including rice - are displayed in a Phnom Penh store.
THE Cambodian Centre for Study and Development in Agriculture (CEDAC) has announced the export of its first batch of organic brown rice.
Lang Senghorng, the head of enterprise at the development NGO, said US firm Lotus Food had contracted to buy 60 tonnes of organic brown rice at US$1,100 per tonne.
"We hope this export deal will help increase knowledge of Cambodian rice, because that will help to improve our rice market," Lang Senghorng said.
The NGO, which was set up in 1997 to develop sustainable agriculture and rural development, signed a previous deal in 2007 to supply 450 tonnes of white organic Jasmine rice to German firm Richers for delivery between 2010-12. Richers will pay US$1,400 per tonne for that order.
Lang Senghorng said CEDAC's organic rice farming community has 8,000 members who grow rice on 2,500 hectares. Earlier this year it exported 15 tonnes of organic rice to Malaysia.
The rice is certified as organic by BCS Oeko-Garantie, a German certification company.
The Kingdom produces 7 million tonnes of rice annually and is looking to formalise the trade in rice as well as increase local milling capacity to add value.
The government announced last week a deal to sell 1,500 tonnes of non-organic rice to Brunei later this year, with a view to boosting those sales in future years.
Tes Eda, the director of state-owned rice exporter Green Trade Enterprise, said his company has exported just 1,000 tonnes of non-organic rice in the six months of this year. Most of that went to France. He said rice is exported by a number of companies and blamed a lack of supply on the limited export volumes.
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