4.11 million people flew in Cambodia in the first ten months

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CSX index slightly drops with ABC as sole gainer on November 17, 2023 On November 17, 2023, the CSX index concluded at 443.6 points, indicating a marginal 0.05% decrease from the previous day. ABC (+0.21%) stands as the sole gainer on the main board. In contrast, PEPC (-3.80%), PWSA (-0.83%), and MJQE (-0.47%) experienced declines on the same board. GTI, PPAP, PPSP, and PAS closed unchanged. On the growth board, JSL witnessed a 0.42% increase, while DBDE remained stable at KHR 2,110. The total trading activity encompassed 50,427 shares, with a cumulative value of KHR 226 million. (Source: YSC Research)

Economy and Industry

4.11 million people flew in Cambodia in the first ten months Cambodia registered 4.11 million air travelers in the first 10 months of 2023, a 144% increase from the previous year, according to Mao Havannall, the minister in charge of the State Secretariat of Civil Aviation. The country has direct flights with eight ASEAN member countries, China, South Korea, and Qatar. The aviation industry in Cambodia has recovered over 55% compared to the pre-COVID-19 pandemic era in 2019, according to Havannall. He hopes the Chinese-invested Siem Reap Angkor International Airport (SAI) will attract new international airlines and travelers, particularly from China to the province, home to the Angkor Archaeological Park. The SAI will boost the kingdom's economic growth, promote aviation, tourism, and investment, and contribute to poverty reduction. The new airport will also serve as a bridge connecting Cambodia to the wider world. (Source: Khmer Times)

CSX introduces a platform for opening trading accounts online Cambodia Securities Exchange (CSX) has launched the Online Trading Account Opening Platform, allowing investors to open trading accounts instantly during working hours. The platform is linked to the Securities and Exchange Regulator of Cambodia (SERC) and the Cambodia Data Exchange Platform (Cam DX) for security purposes. The platform currently has six securities firms, with over 44,000 registered accounts. CSX expects to have around 30,000 to 50,000 new trading accounts opened in 2024, an increase of nearly 100%. The platform will also organize training courses and programs to increase investor confidence and awareness. CSX has 20 listed companies, including 11 equity firms and nine corporate bond firms, with a total capital of $330 million. (Source: Khmer Times)

In ten months, $3 billion is collected in taxes by Cambodia The General Department of Taxation (GDT) in Cambodia has collected $3,06 billion in tax revenue in the first ten months of 2023, accounting for 85.8% of the yearly budget plan. In October alone, GDT generated $260 million from tax collection, highlighting the efficiency of the collection process. The country has two tax collection institutions: the GDT, which handles interior taxes like income tax, salary tax, value added tax, and property tax, and the GCE, which collects taxes on goods entering and leaving the country. Modernization has also improved registration rates, taxpayer services, and tax filing facilities. (Source: Khmer Times)

Corporate News

PPSP wants to raise $15 million to issue green bonds on CSX Royal Group Phnom Penh Special Economic Zone (PPSP) plans to raise an additional $15 million through the issuance of a green bond on the Cambodia Securities Exchange (CSX). The company announced that its board of directors approved the listing to generate additional funds for business expansion. The proceeds from the bond will be allocated for sustainable infrastructure. The company is currently in the process of seeking approval from the Securities and Exchange Regulator of Cambodia (SERC) and the CSX, in compliance with applicable laws and regulations. The process is expected to be completed by early next year. PPSP's non-executive chairman, Kith Meng, reported a 95% increase in total revenue to 29.7 billion riel ($7.14 million) in Q2 2023. The company recorded a net profit of 2.5 billion riel ($607,294) in Q2 2023, compared to a net loss of 515 million riel ($125,102) in the same period of 2022. The company's total equity increased by 10.5% to 281.6 billion riel ($68.4 million) as of the end of June 2023. (Source: The Phnom Penh Post)

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