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'Stranglehold': Hun Sen rules Cambodia and his family own it, says report
Source: The Guardian
'Stranglehold': Hun Sen rules Cambodia and his family own it, says report
Relatives of autocratic PM control economy’s most profitable sectors
from mining to gambling and property, according to findings of Global
Witness project
Oliver Holmes in Bangkok
Thursday 7 July 2016 07.33 BST
A transparency watchdog has alleged a “stranglehold” on the Cambodian economy by the family of Hun Sen – one of the world’s most notorious autocrats, who has ruled the south-east Asian country across three decades.
Investigators from UK-based Global Witness who traced corporate ownership said they had uncovered numerous examples where companies linked to members of the Hun family managed to secure lucrative public contracts and state concessions to amass vast fortunes.
Firms associated with the Hun family span the majority of Cambodia’s most lucrative business sectors, including trade, finance, energy and tourism, according to the report, while also operating within a number of sectors notorious for corruption including gambling, construction, agriculture and mining.
In some cases these companies have driven “devastating impacts for Cambodian citizens and the environment, including land grabs that have caused mass displacements and destitution among Cambodia’s rural poor”, Global Witness says.
[font size=1]-snip-[/font]
Relatives of autocratic PM control economy’s most profitable sectors
from mining to gambling and property, according to findings of Global
Witness project
Oliver Holmes in Bangkok
Thursday 7 July 2016 07.33 BST
A transparency watchdog has alleged a “stranglehold” on the Cambodian economy by the family of Hun Sen – one of the world’s most notorious autocrats, who has ruled the south-east Asian country across three decades.
Investigators from UK-based Global Witness who traced corporate ownership said they had uncovered numerous examples where companies linked to members of the Hun family managed to secure lucrative public contracts and state concessions to amass vast fortunes.
Firms associated with the Hun family span the majority of Cambodia’s most lucrative business sectors, including trade, finance, energy and tourism, according to the report, while also operating within a number of sectors notorious for corruption including gambling, construction, agriculture and mining.
In some cases these companies have driven “devastating impacts for Cambodian citizens and the environment, including land grabs that have caused mass displacements and destitution among Cambodia’s rural poor”, Global Witness says.
[font size=1]-snip-[/font]
Read more: https://www.theguardian.com/world/2016/jul/07/stranglehold-hun-sen-rules-cambodia-and-his-family-own-it-says-report
_______________________________________________________________________
Source: Reuters
World | Thu Jul 7, 2016 2:56am EDT
Cambodia dismisses report detailing PM's family business
Cambodia dismissed on Thursday accusations by an anti-corruption pressure group that Prime Minister Hun Sen and his family have amassed $200 million in business interests including some with links to land grabs and environmental destruction.
The accusations, in a report by the group Global Witness, comes during a period of rising political tension between the veteran prime minister and the opposition hoping to challenge his grip on power in local elections in 2017 and a general election in 2018.
Global Witness, in its report titled "Hostile Takeover", said Hun Sen's family owns or partly controls companies with listed capital of more than $200 million.
That is likely to be a fraction of the real fortunes they hold through shell companies and the use of nominee owners, the group said.
[font size=1]-snip-[/font]
Cambodia dismisses report detailing PM's family business
Cambodia dismissed on Thursday accusations by an anti-corruption pressure group that Prime Minister Hun Sen and his family have amassed $200 million in business interests including some with links to land grabs and environmental destruction.
The accusations, in a report by the group Global Witness, comes during a period of rising political tension between the veteran prime minister and the opposition hoping to challenge his grip on power in local elections in 2017 and a general election in 2018.
Global Witness, in its report titled "Hostile Takeover", said Hun Sen's family owns or partly controls companies with listed capital of more than $200 million.
That is likely to be a fraction of the real fortunes they hold through shell companies and the use of nominee owners, the group said.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/us-cambodia-politics-idUSKCN0ZN0IW
