Cambodia PM says no NagaWorld takeover of Buddhist site

Oct 13, 2014 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Cambodian prime minister Hun Sen has said in a letter to the country’s king that the Buddhist Institute (pictured) in the capital Phnom Penh, will not be sold or rented to casino operator NagaCorp Ltd.

An extension to NagaCorp’s property NagaWorld that is currently under construction means the gaming resort shares a boundary with the institute.

Mr Hun Sen blamed “incitement by uneducated people” for the rumours, reported the Cambodia Daily newspaper.

On October 6 NagaCorp took the step of issuing a filing to the Hong Kong Stock Exchange, reassuring investors of its casino licence rights in the country.

On Thursday, the country’s Cults and Religion Minister Min Khin had told a National Assembly commission that the land wouldn’t be sold or rented out. “For this Buddhist Institute, we are not renting or selling or developing it for investment,” Mr Khin was quoted as telling local reporters.

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