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To: [EMAIL PROTECTED]: [EMAIL PROTECTED]: Mon, 13 Oct 2008 10:12:13 
+0000Subject: Garment manufacturer Tack Fat has gone bankrupt





KHMER INTELLIGENCE NEWS
 
 
13 October 2008
 
 
Garment manufacturer Tack Fat has gone bankrupt (1)
The Hong Kong-based daily newspaper South China Morning Post, October 8, 2008, 
confirmed that Tack Fat Group International, a well-known firm listed on the 
Hong Kong Stock Exchange and the mother company of Tack Fat Garment (Cambodia) 
Ltd, a major garment manufacturer in this country, has gone bankrupt. The news 
reads as follows, "Last month [September 2008], banks applied to wind up (…) 
swimwear maker Tack Fat International Group after [it] defaulted on loans." 
Tack Fat becomes the second "collapse of a Hong Kong-listed retailer amid the 
financial meltdown." 
According to a business analysis, "Tack Fat Group's principal activities are 
designing and manufacturing of jeans, pants, shorts, swimming apparel and 
sportswear for men, women and children. Other activity includes investment 
holding. The Group has three production facilities, one of which is located in 
Luoding City, Guandong Province, the People's Republic of China and the other 
two of which are located in Phnom Penh, Cambodia. The majority of the Group's 
products are exported to the North American, European markets and other 
regions." http://tinyurl.com/3mpvvl
A September 16, 2008 statement by the Group's "Provisional Liquidators 
Appointed" specifies, "The place of incorporation of the Company is in Cayman 
Islands and the shares [were] suspended for trading since 9:30am, 30 July 
2008." http://tinyurl.com/3lgb8a
Information about Tack Fat Garment (Cambodia) Ltd can be obtained at 
http://tinyurl.com/437q8l
 
 
Property prices start to fall in Cambodia (2)
Land prices, which have increased about ten-fold over the last five years, have 
started to fall markedly as a result of the world financial crisis and 
speculators being caught in a sudden property glut. An increasing number of 
projects are now stalled. In particular, Korean and Chinese investors, who have 
been most active in land development projects - which help launder corruption 
and other illicit money along with the gambling industry - start to repatriate 
a portion of their funds. Many Cambodian people who mortgaged their houses to 
engage in land speculation are starting to feel the pinch, being unable to pay 
hefty interests on loans from their banks. After a sharp decline in the number 
of transactions, land prices are expected to fall between 30 and 50 percent in 
the next twelve months.     
 
 
Retail gasoline price to fall from 5,000 riels to 4,000 riels per liter (3)
Crude oil price on the international market is now at about US$80 per barrel (1 
barrel = 159 liters), down from a peak of US$147 a barrel on July 11, 2008 (- 
46 percent). A year ago, in October 2007, the price of crude oil on the 
international market was also at US$80 a barrel and the retail price of 
gasoline in Cambodia was at 4,000 riels per liter. Therefore, the retail price 
of gasoline should drop from 5,000 riels per liter now to 4,000 riels per liter 
in the coming days if Cambodian gasoline distribution companies were to pass on 
to consumers the recent decrease in their supply cost as reflected in the drop 
in international crude oil price. 
 
 
[End]   
 
 
10 October 2008
 
 
Police's involvement in journalist Khim Sambo's murder (3)
The Hong Kong-based South China Morning Post, October 3, 2008, gave some clues 
that might be helpful for any serious investigation into the recent murder in 
Phnom Penh of opposition journalist Khim Sambo. Press correspondent Vincent 
Maclsaac writes in his report, « In the June 28-29 weekend edition of the daily 
Khmer Conscience, which is affiliated with the opposition Sam Rainsy Party (…), 
Khim Sambo (…) [mocked] the behaviour of a senior police officer described by 
many as "one of the most dangerous men in Cambodia". He reported on an incident 
that allegedly occurred (…) on June 25 at a casino complex at a border crossing 
with Vietnam in the town of Bavet in Svay Rieng province. After losing his 
shirt at Le Macau Casino and Hotel, the officer borrowed [money] from the 
casino, lost that, borrowed more - and lost again. When the casino manager 
refused to lend any more, he had him arrested by the junior [police] officers 
accompanying him, Khim Sambo reported (…). Several [sources] - all of whom 
requested anonymity, citing concern for personal security - said that Khim 
Sambo was writing about Cambodian National Police Commissioner Hok Lundy. »
Khim Sambo, 47, and his 21-year-old son Sarinpheatra were shot dead in broad 
daylight by unknown killers on July 11, 2008.
On May 18, 1996, journalist Thun Bun Ly was also shot dead in similar 
circumstances after mocking in opposition newspaper Khmer Ideal a few days 
before his death the wife of a powerful political leader.          
Read South China Morning Post's whole article at http://tinyurl.com/3ed232

 
 
New evidence of massive election fraud on July 27, 2008 (2)
Over the last few weeks new evidence of fraud at the July 27, 2008 national 
election has been exposed. Fraud was systemic because the election was totally 
controlled by the ruling CPP through the National Election Committee (NEC). The 
evidence shown is related to manipulation of voter lists leading to a massive 
disenfranchisement of legitimate non-CPP voters and a broad mobilization of 
illegitimate voters to cast ballots for the CPP by using ghosts' names. These 
are two manoeuvres with far-reaching implications that most international 
election observers did not see because they took place before Voting Day and 
outside the polling stations. 
As a result of the fraud, the last poll has obviously distorted the will of the 
Cambodian people.
Evidence of fraud is contained in three main documents:
1- "What election observers did not see in a rigged election" at 
http://tinyurl.com/6gw3rz
2- "Voter list cleaning (by the NEC) and political opponent cleansing (by the 
CPP)" at http://tinyurl.com/45mfpu
3- "International election observers must open their eyes" at 
http://tinyurl.com/52t3eg
 
 
No democratic government has congratulated the CPP following its landslide 
victory (2)
As of today, only the government of North Korea has sent a message of 
congratulations to the CPP and to Cambodia's new/old leaders following their 
landslide election victory on July 27, 2008. Democratic governments have 
refrained from doing so, possibly because of doubts about the election's 
integrity (see evidence of fraud exposed above) and reservations about the 
controversial "package vote" on September 25 whereby the legislative and 
executive branches of the government had their respective leaderships elected 
at the same time, through the same single vote!
Read a relevant press article in Khmer published today at 
http://tinyurl.com/3kcqkk
 
 
No position for Ranariddh (2)
Even though the Norodom Ranariddh Party (NRP) has finally recognized and 
accepted the results of the July 27 election and declared that it is no longer 
an opposition party, Prince Norodom Ranariddh was not given any position in the 
new government. The NRP ex-President had thought that he could be appointed 
President of the Constitutional Council (replacing Ek Sam Ol) or Royal Palace 
Minister (replacing Kong Sam Ol). But the first position is a highly strategic 
one for the CPP and must be occupied by a CPP stalwart, and any pretender to 
the second position must have the support of the King, which does not seem to 
be the case for Prince Ranariddh.  
 
 
Hor Namhong gave false information about Princess Nanette and Prince Sisowath 
Methavy (2)
French weekly Le Journal du Dimanche, July 23, 1989, quoted [then Prince now] 
King Father Norodom Sihanouk as declaring, "Hor Nam Hong, former commander of a 
Khmer Rouge concentration camp [Boeng Trabek detention camp], is responsible 
for the death, after atrocious tortures, of many former members of the 
anti-American Resistance, such as my cousin Prince Sisowath Methavy, and his 
spouse [Princess Nanette], the elder sister of my wife [now Queen Mother 
Norodom Monineath Sihanouk]."
Princess Sisowath Nanette arrived at Boeng Trabek camp in October 1977, 
directly from France, to join her husband Prince Sisowath Methavy who had 
returned to Cambodia since 1976, only one year after the Khmer Rouge take over. 
Following a short stay in Chraing Chamres, Prince Methavy was sent to Boeng 
Trabek camp in February 1977. Princess Nanette actually lived in Boeng Trabek 
camp for only six months before she and her husband were taken away to be 
executed in April 1978. This is confirmed by many surviving prisoners from the 
three sections of Boeng Trabek camp (B30, B31 and B32), who all confirm that 
they last saw Princess Nanette and her husband around the Cambodian New Year 
that took place in April 1978.
In an interview published in Khmer-language newspaper Rasmei Kampuchea, April 
23, 2008, Hor Nam Hong says the Sisowath couple lived with him "until the end 
of 1978" before being taken away and killed by the Khmer Rouge. However, 
surviving witnesses say that the Khmer Rouge had stopped taking away and 
killing Boeng Trabek prisoners since August-September 1978, when living 
conditions suddenly started to improve as the Pol Pot regime tried to mobilize 
all Cambodian forces to counter increasing pressure from Vietnamese troops.
The late CPP Justice Minister Chem Sgnuon, who was detained at Boeng Trabek 
camp until Vietnamese troops arrived in January 1979, used to tell many people 
how cruel Hor Nam Hong was when he was the Khmer Rouge-appointed camp chief. 
Chem Snguon avoided talking with Hor Nam Hong because of this bitter past.
Read testimonies in English, French and Khmer on Hor Nam Hong's role at Boeng 
Trabek camp by clicking at http://tinyurl.com/56czqh
 
 
[End]  
 
 
 
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