In the first nine months, rubber exports bring in $320.5 million for Cambodia

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CSX index sees mixed performance on October 20 On October 20, 2023, the CSX index closed at 452.5 (+0.18%), with five stocks rising, three falling, and three remaining unchanged. The top gainers on the main board were PEPC (+1.30%), MJQE (+0.47%), CGSM (+0.41%), and PPAP (+0.14%), respectively. The top losers on the main board were GTI (-1.72%) and PWSA (-0.27%). PPSP, PAS, and ABC ended the day at the same price as it did the day before. JSL plummeted by 4.31% while DBDE increased by 0.93% on the growth board. The number of shares traded was 762,970 for a total value of KHR 2,435 million, which was ten times higher than the previous day. (Source: YSC Research)

Economy and Industry

In the first nine months, rubber exports bring in $320.5 million for Cambodia Cambodia exported 242,304 tons of dry rubber in the first nine months of 2023, a 3.5% increase from 234,100 tons in the same period last year, according to a report from the General Directorate of Rubber. The country earned $320.5 million in revenue from rubber exports during January-September 2023, down 9.8% from $355.6 million in the same period last year. The average cost of a ton of dry rubber was $1,323, about $196 lower than the same period last year. The country mainly exports to Malaysia, Vietnam, Singapore, and China. The report also revealed that Cambodia has planted rubber trees in 404,578 hectares, with 78% of them being tapped. (Source: Khmer Times)

NBC is planning to raise interest rates for banks' short-term loans The National Bank of Cambodia (NBC) is set to increase interest rates on short-term loans for banks, particularly overnight ones, due to a shortage of liquidity and insufficient balance in their overdraft accounts for digital payments through the Bakong system. The NBC will hike the interest rate for the Marginal Lending Facility (MLF) from 4% per annum to 6% and increase MLF from five days to "unlimited". The new facility will enable banks and financial institutions to request rolling unlimited transactions. The MLF rate, set at 4% per annum, will be used as a ceiling rate for the market and will be revised to 6% per annum for the first time without any constraint in terms of the number of days of rolling transactions. The decision to hike MLF rates will act as precautionary measures to help banks prevent cash shortages. Banks are likely to face higher costs due to the announcement. (Source: Khmer Times)

EuroCham requests more regulatory easing from the government to boost investment The European Chamber of Commerce (EuroCham) has called on the Cambodian government to implement deregulation measures to improve the business environment and attract more investment. Tassilo Brinzer, Chairman of EuroCham Cambodia, emphasized the need for deregulation and the need for collaboration with EuroCham counterparts in Vietnam, Thailand, Singapore, and Malaysia. Minister Hem Vanndy emphasized the importance of simplifying and harmonizing regulations and revealed that the government is conducting a regulatory impact assessment to introduce policy interventions that will attract investment and support industry growth. The government is also implementing public service reforms to foster a conducive business environment, making relevant laws, regulations, and business-related information available in both English and Khmer. EuroCham recently launched its White Book and Advocacy Compass, providing trade and investment policy recommendations on Cambodia. (Source: Khmer Times)

Corporate News

Smart Axiata sets new sustainability standards with 2022 report Smart Axiata, Cambodia's leading telecommunications company, has launched the 'Sustainability Report 2022', setting new standards for the industry. The report focuses on four major pillars: beyond short-term profits, nurturing people, process excellence, and protecting the planet and society. The report, which became the first telecommunications company in Cambodia to publish a Sustainability Report in 2014, showcases Smart's commitment to transparency, responsible business practices, and stakeholder engagement. Smart Axiata is recognized as the market leader with the highest Net Promoter Score (NPS) in the country among telcos. The company has contributed to the community by connecting the community, investing in infrastructure, promoting digital inclusion, reducing carbon footprint, and minimizing environmental impact. The launch received positive feedback from partners, highlighting Smart's success in driving sustainability initiatives and creating lasting value for stakeholders. (Source: Khmer Times)

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