Is there a looming credit risk in Cambodia's banking sector?
For many, the Covid-19 pandemic brought their years of business to its knees. In Siem Reap, the tourism capital of Cambodia which posted a 97 per cent year-on-year fall in tourist arrivals as at end-November last year, saw nearly 1,500 hospitality-related outlets close down by September that year. As for garment manufacturing, an industry that has held up Cambodia’s economy for decades, some 130 facilities have ceased operation. A check around Phnom Penh would reveal shuttered businesses dotting the streetscape. What’s more, the negative impact is still unfolding as retail businesses, be ...