9.5 tonnes of gold ore are extracted in Cambodia since June 2021
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 468.77 | -0.56 | 37,605 | 12,573 |
Stock Performance
| Stock | Close (KHR) | 1D chg (%) | MTD chg (%) | YTD chg (%) | 1M high (KHR) | 1M low (KHR) | MTD vol (shr) | Mkt cap (KHR'bn) |
| PWSA | 7,280 | 0.00 | 0.00 | 0.00 | 7,320 | 7,240 | 4,032 | 633 |
| GTI | 2,820 | -0.35 | -0.70 | -0.70 | 2,870 | 2,810 | 4,717 | 113 |
| PPAP | 13,820 | 0.14 | -1.29 | -1.29 | 14,000 | 13,700 | 649 | 286 |
| PPSP | 2,160 | -0.92 | -0.92 | -0.92 | 2,240 | 2,160 | 12,314 | 155 |
| PAS | 12,580 | 0.32 | 0.00 | 0.00 | 12,600 | 12,300 | 1,115 | 1,079 |
| ABC | 10,020 | 0.00 | -0.40 | -0.40 | 10,160 | 9,600 | 109,909 | 4,340 |
| PEPC | 2,560 | -5.19 | -6.57 | -6.57 | 2,740 | 2,510 | 1,037 | 192 |
| MJQE | 2,100 | -0.47 | -1.41 | -1.41 | 2,130 | 2,090 | 30,036 | 681 |
| CGSM | 2,600 | -1.14 | -1.14 | -1.14 | 2,670 | 2,470 | 44,584 | 5,094 |
| DBDE | 2,110 | -0.94 | -1.40 | -1.40 | 2,140 | 2,100 | 5,825 | 39 |
| JSL | 4,200 | -1.87 | -4.55 | -4.55 | 4,880 | 4,160 | 3,374 | 108 |
| 1D = 1 Day; 1M= 1 Month; MTD = Month-To-Date; YTD = Year-To-Date; Chg = Change; Vol = Volume; shr = share; Mkt cap = Market capitalization | ||||||||
Valuation Ratios
| EPS | BPS* | P/E | P/B | P/S | EV/EBITDA | ||
| ttm,mrq | (ttm,KHR) | KHR | (ttm,x) | (mrq,x) | (ttm,x) | (ttm,x) | |
| PPWSA* | 2Q23 | 1,170 | 15,172 | 6.22 | 0.48 | 1.73 | 8.84 |
| GTI | 2Q23 | 95 | 7,181 | 29.54 | 0.39 | 0.31 | 11.58 |
| PPAP* | 2Q23 | 2,412 | 38,041 | 5.73 | 0.36 | 2.04 | 4.94 |
| PPSP | 2Q23 | 489 | 3,576 | 4.42 | 0.60 | 0.68 | 3.85 |
| PAS* | 2Q23 | 1,191 | 11,029 | 10.56 | 1.14 | 3.25 | 8.23 |
| ABC | 2Q23 | 1,608 | 12,485 | 6.23 | 0.80 | 1.34 | NA |
| PEPC** | 2Q23 | -312 | 1,220 | NA | 2.10 | 2.41 | 32.74 |
| MJQE | 2Q23 | 29 | 289 | 72.89 | 7.25 | 5.54 | 17.44 |
| CGSM | 2Q23 | 98 | 392 | 26.65 | 6.63 | 6.53 | 15.58 |
| JSL | 2Q23 | -239 | 185 | NA | 22.65 | NA | NA |
| DBDE | 2Q23 | 76 | 1,919 | 27.88 | 1.10 | 0.52 | 11.52 |
| NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *Excluding equity of non-common shares for PPWSA, PPAP and PAS; **FY ending in June | |||||||
| Corporate Bonds |
Trading Summary
| Bond Symbol | Trading Vol (Units) | Trading Val (KHR'mn) | Latest Yield | Credit Rating | Bond Feature | Coupon Rate (%) | Days to Maturity |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability | Floating* | 3,602 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,806 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,431 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 460 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 3,201 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,448 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,275 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 963 |
| *SOFR +3% or 5.5% , whichever is higher; **SOFR+3,5% or 5% (take which one is higher);***SOFR+3,5% or 5% (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% (take which one is higher) | |||||||
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 10 Y | 15 Y | |
| Total issuance ('K units) | 148.1 | 132.0 | 22.0 | - | - |
| Outstanding (KHR'bn) | 76.0 | 132.0 | 22.0 | - | - |
| Issuance ('K units, Latest) | 20.0 | 28.0 | 6.0 | - | - |
| Coupon rate (Latest) | 3.48% | 4.00% | 4.50% | - | - |
| Successful yield (Latest) | 3.85% | 4.45% | 4.75% | - | - |
| Latest bidding | 45,217 | 45,252 | 45,280 | - | - |
| *Total issuance is the accumulated issuance since September 2022; **Outstanding is aggregate principal value of government that remain outstanding; ***Successful yield: mid yields are shown if multiple price auction method was adopted. | |||||
| News Highlights |
Stock Market
CSX index records 0.56% decline on January 5, 2024 On January 5, 2024, the CSX index concluded at 468.8 points, reflecting a 0.56% decrease from the previous day. Significant movements on the main board included gains for PAS (+0.32%) and PPAP (+0.14%), while PEPC (-5.19%), CGSM (-1.14%), PPSP (-0.92%), MJQE (-0.47%), and GTI (-0.35%) experienced declines. PWSA and ABC maintained their price. On the growth board, DBDE and JSL witnessed a 0.94% and 1.87% decrease, respectively. In total, 37,605 shares were traded, amounting to a total trading value of KHR 216 million. (Source: YSC Research)
Economy and Industry
9.5 tonnes of gold ore are extracted in Cambodia since June 2021 Cambodia has extracted 9,500 kilograms of gold ore since commercial mining began in June 2021, as reported by the Ministry of Mines and Energy. The mining sector has significantly contributed to the nation's progress, witnessing a surge in royalties from all registered mining activities – from $2 million in 2013 to over $50 million in 2023. The ministry has issued gold-mining licenses to nine companies, with six currently operating and three others in the process of setting up sites. Renaissance Minerals in Mondulkiri Province has recorded the highest yield among all mining companies. Renaissance plans to refine an estimated three tonnes of gold ore annually for the first eight years of its operations, resulting in approximately 250 kg of gold ore per month. All extracted gold ore is shipped to Australia for refining and transformation into 100% pure gold. (Source: Khmer Times)
Modern waste control techniques are urged for factories to implement Cambodia's Minister of Environment, Eang Sophalleth, has urged factories in the garments, footwear, and travel goods (GFT) sector to install automatic waste control systems for efficient liquid waste management. This measure is part of the ministry's overall environmental strategy to achieve workplace cleanliness. The number of registered factories in Cambodia reached 1,968 in November 2023, reflecting an increase of 24.8% from the previous year. The industrial sector has played a significant role in Cambodia's economic development, with its share of the GDP increasing from 13% in 1993 to 41% by 2023. The growth in factories is attributed to economic reforms initiated by the government and private sector, such as the new Investment Law adopted in 2021. Additionally, the Regional Comprehensive Economic Partnership, the Cambodia-China Free Trade Agreement, and the Cambodia-Korea Free Trade Agreement have been key in attracting new investors. (Source: Khmer Times)
Trade between Indonesia and Cambodia reaches a significant milestone Indonesia has become Cambodia's 6th-largest trading partner, with total bilateral trade reaching $965.24 million as of November 2023. This growth reflects the increasing economic cooperation between the two nations and aligns with the celebration of the 65th anniversary of diplomatic relations. The surge in Cambodian exports to Indonesia, ASEAN's largest economy, reached $70.56 million in 2023, marking a remarkable 112% increase from the previous year. The ambassador emphasized the importance of translating historical ties into concrete trade and investment cooperation, aiming for mutually beneficial achievements in 2024. The embassy hosted the 14th Indonesia Trade & Tourism Promotion (ITTP 2023) in August, focusing on fostering deeper connections in key sectors such as trade, tourism, higher education, art, and culture. The strengthening of trade ties between Cambodia and Indonesia is viewed as a promising sign for future collaboration and economic prosperity. (Source: The Phnom Penh Post)
Corporate News
Loans for tourism vendors in Siem Reap will be easier to obtain in 2024 The Small and Medium Enterprise Bank of Cambodia Plc. (SME Bank) has announced a loan program for tourism vendors in Siem Reap Province, Cambodia, set to commence in 2024. Tailored specifically for Siem Reap tour operators, the program will offer preferential payment periods of up to 24 months, no credit preparation fees, no penalties for early repayments, and more lenient approval terms compared to regular loans. It is available for various businesses, including hotels, guesthouses, restaurants, souvenir shops, tour companies, and transport companies. Operators can apply for loans from participating private financial institutions, with amounts up to $600,000 and an annual interest rate of 6.5%. Borrowers will also be granted a 12-month grace period on repayments. This initiative stems from the $150 million Tourism Recovery Co-Financing Scheme (TRCS), initially approved by the Ministry of Economy and Finance on May 17, 2022. Additionally, the government has introduced tax incentives to help balance and alleviate financial strain in the tourism industry. (Source: Khmer Times)
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