The Mirror, Vol. 11, No. 525
“Though the Prime Minister hinted that there is a study on the possibility to remove the [illegally filled in] soil back from Pong Peay Lake, up to now there has not yet been any clarity that the soil will actually be removed in the CAMKO City project. However, there has not been any clarity about the continuing demolishing of constructions around Ping Peay Lake, like the demolishing of constructions of the Long Chhin Company. But a report on a plan to remove the filled in soil from Pong Peay Lake makes the clients of CAMKO City concerned, and most of them attempt to withdraw their intention [to buy part of the planned buildings].
“A source, referring to many businesspeople, affirmed that after the recent meeting between the government and the private sector, some businesspeople, especially those who want to buy houses of the CAMKO City on Pong Peay Lake, plan to withdraw themselves. The source added that there is very little trust in buying villas on the land of Pong Peay Lake. For instance, there is the lesson that the Long Chhin Company’s constructions, worth of tens of millions of dollars, were destroyed by the government by adhering to the law. Similarly there has not yet been any clarity for buying buildings of CAMKO City. Who will take hundreds of millions dollars to throw them away into uncertainty? The example of the Long Chhin Company is an experience which causes fear.
“Businesspeople also noted that the commercials about the luxury city called CAMKO City in the media seem not to get an overwhelming response as they were said to get before. This causes more doubts, so that some people think that there are many dubious facts related to the removal of soil back from the Pong Peay Lake. However, there has not yet been any any official clarification from government officials, so the facts have not yet become completely clear.
“Based on the development project at the Pong Peay Lake, which was initiated by the Phnom Penh municipal authorities under Mr. Kep Chuktema, it was necessary for this development project to fill in soil into the Pong Peay Lake – which is, however, a huge water reservoir to help Phnom Penh from being flooded. This project is based on the participation by a number of foreign businesspeople who do not care about Phnom Penh being flooded. This development project, which costs hundreds of millions of dollars, is criticized by people for exposing the city to the danger of being flooded from filling soil into the lake. Nevertheless, the Phnom Penh authority ignores the concern of a possible disaster which can come from filling soil into the Pong Peay Lake. As for Prime Minister Mr. Hun Sen, it is said that he sees the problem faced in the future, as soil is filled into the Pong Peay Lake.
“As for clients who consider to buy buildings of CAMKO City, they look at the experience of the sudden destruction of buildings of the Long Chhin Company, and they say it is an issue that creates fear. Through the recent, specific experience which they have seen by themselves, many clients want to withdraw themselves from their intention to buy buildings which are built by CAMKO City. It is a concern for the clients, because there is no response or clarification that there will be an appropriate guarantee, and at what level, for those who buy houses which are built by CAMKO City. Though it is said that many things are being operated or are already finished, there has not yet been any clear guarantee at this time that they will not be destroyed like the constructions of the Long Chhin Company. Who guarantees that buying houses built by CAMKO City will be definitely not destroyed, like the constructions of the Long Chhin Company? Even the company itself, which is advertising and making statements of guarantee to its clients, is not sure about the sustainability of the constructions. By law, there is really nothing to state to those buying houses of CAMKO City, that the buildings will definitely not be destroyed like it happened in the case of the Long Chhin Company.
“Because of the above-mentioned issues, many clients who focus on CAMKO City, withdraw themselves. Who will spend hundreds of thousands of dollars to buy property without clarity?
“A source says that [Royal Cambodian Armed Forces commander-in-chief] General Ke Kim Yan has a part of the responsibility, or it can be said that he is the main investment owner of CAMKO City. Even with Mr. Ke Kim Yan’s name, many clients still have doubts and fear. It is a reasonable fear, so that those who think that it is a risk consider withdrawal of their capital from buying into constructions of CAMKO City. Nonetheless, to mention the name of Mr. Ke Kim Yan is explained as a way to assume that Prime Minister Mr. Hun Sen will not take any action against Mr. Ke Kim Yan, though Mr. Ke Kim Yan conducts misdeeds. If it is really like this, there must be a clearer guarantee for the future.” Samleng Yuvachun Khmer, Vol.14, #3137, 13.9.2007
Newspapers Appearing on the Newsstand:
Thursday, 13 September 2007
Areyathor, Vol.14, #1270, 13-14.9.2007
- Airport Emergency Simulation Creates Panic among Citizens in Phnom Penh
Kampuchea Thmey, Vol.6, #1443, 13.9.2007
- No Official Dares to Suppress Forest Crimes [by big traders and powerful people] in Stung Treng
- US Provides More Than $30 Million Aid for Health and Education Projects in Cambodia
- Jewelry Seller Robbed of $40,000 Opposite His House [Daun Penh, Phnom Penh]
- Indonesia Prohibits Beggars from Begging in Jakarta
- 1.5 Million Displaced because of Floods in South Asia
Khmer Machas Srok, Vol.1, #13, 13.9.2007
- Mr. Sam Rainsy Appeals to Khmer Youth to Pay Attention to Stock Markets
Koh Santepheap, Vol.40, #6143, 13.9.2007
- 30 Police Officials Trained to Protect Witnesses in Khmer Rouge Tribunal
Rasmei Kampuchea, Vol.15, #4388, 13.9.2007
- Khmer Rouge Tribunal: Preah Mohavirak Khsatr [the Great Heroic King] Has Become a Hot Issue for the UN and Cambodia
- China Signs Agreements on Economic and Trade Cooperation with Cambodia
- 15 [South] Korean Companies Come to Study Investments with 7NG Company
- Japan Will Use Boeing 767-300 for First Landing in Cambodia in Siem Reap
- Japanese Prime Minister [Abe Shinzo] Resigns [after losing in elections in July]
Samleng Yuvachun Khmer, Vol.14, #3137, 13.9.2007
- CAMKO City Clients Feel Uncomfortable about Not Having Clarity over Removal of Soil from Pong Peay Lake
Sralanh Khmer, Vol.3, #503, 13.9.2007
- An Organization [USA based group “Cambodian Action Committee for Justice and Equity”] Asks for Summons for Hun Sen to Give Explanations at the Khmer Rouge Tribunal
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