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ANZ Royal says no ‘blood sugar’ payout

ANZ Royal says no ‘blood sugar’ payout

ANZ Royal has said it will not pay compensation to Kampong Speu villagers locked in a land dispute with Phnom Penh Sugar Company, which was partially financed by the bank.

Officials from ANZ Royal told community leaders representing 800 families from Thpong and Oral districts whose land was seized by the sugar giant, that they are not responsible for the actions of past clients.

The villagers submitted a petition to the bank last month demanding payment due to the bank’s history of financing the sugar company, which is owned by ruling party Senator Ly Yong Phat.

ANZ Royal CEO Grant Knuckey said a reply was issued to the activists yesterday but would not comment further. Representatives from Phnom Penh Sugar Company could not be reached.

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