In 2023, Cambodia's foreign reserves increase to $20 billion

CSX Index

Stock Performance

Valuation Ratios

Trading Summary

Historical Issuance Summary

Stock Market

Marginal increase of CSX index on January 26, 2024 On January 26, 2024, the CSX index concluded at 467.8 points, indicating a 0.02% increase from the previous day's closing figure. The main board witnessed notable movements, with PPSP (+0.93%), PWSA (+0.55%), and PPAP (+0.29%). Conversely, PEPC experienced a decline of 1.75%. Stable prices were maintained by GTI, PAS, ABC, MJQE, and CGSM. On the growth board, DBDE exhibited a gain of 0.95%, while JSL saw a decline of 0.51%. The day's trading activity involved 46,225 shares, with a cumulative trading value reaching KHR 261 million. (Source: YSC Research)

Economy and Industry

In 2023, Cambodia's foreign reserves increase to $20 billion In 2023, Cambodia's international reserves soared to $20 billion, reflecting a robust 12.3% surge from the previous year, as reported by the central bank. These reserves, encompassing foreign currencies, gold, and Special Drawing Rights, were underscored by Governor Chea Serey, who affirmed their capacity to safeguard imports of goods and services for a period exceeding seven months. While some countries witnessed a decline in international reserves within their central banks, attributed to uncertainties in international financial markets and elevated benchmark interest rates in developed nations, Cambodia remained resilient. Despite global financial stability concerns following the collapse of banking institutions in the US and Switzerland, the Cambodian banking system sustained its stability. Adding to the positive economic outlook, Cambodia's economy experienced a commendable growth of 5.5% in 2023. Moreover, the inflation rate demonstrated a noteworthy decline from 5.4% in the previous year to 2.1%, reflecting favorable economic conditions and prudent fiscal management. (Source: Khmer Times)

The amount of businesses registered online has surpassed $10 billion The total capital of businesses enrolled through the Online Business Registration System (OBRS) in Cambodia has reached almost $10 billion as of January 22, with over 32,000 listed companies. The system was launched in phases I, II, and III, with six government institutions incorporated. As of January 22, 32,860 companies had successfully listed, totaling a registered capital of $9.8 billion. Women-owned businesses accounted for 37.73% of the registered capital. The registered capital was predominantly in building construction ($1.13 billion), followed by real estate activities ($1.02 billion). Other significant sectors included accommodation services ($1 billion), management consulting ($607 million), and apparel manufacturing. Cambodian Prime Minister Hun Manet urged business owners to register voluntarily to facilitate government support and timely solutions in case of issues. During the transition period, micro, small and medium enterprises (MSMEs) will benefit from exemptions of penalties and liabilities, tax-related incentives, financial support, and training related to enterprise management. (Source: The Phnom Penh Post)

Exports of electrical goods up 50% in 2023 Cambodia exported over $3.1 billion in electrical machinery, equipment, and related products in 2023, a 50% increase from 2022. These products accounted for nearly 14% of the country's total exports. Exports under Harmonised System (HS) Code 85, which includes these products, totalled $3.13 billion in 2023, a 56.6% rise from the previous year. This makes up 13.8% of the country's total exports, totaling $22.64 billion. The growth in exports confirms the country's production chain's advancement, meeting international market demands in the context of the Fourth Industrial Revolution. The country's ability to produce more Code 85 items makes it easier for major vehicle and machinery manufacturers to establish factories in the country. The export of all products is expected to continue increasing in 2024. The Ministry of Economy and Finance's Budget in Brief for 2024 projects a recovery in Cambodia's economy, with an expected growth rate of around 6.6%. (Source: The Phnom Penh Post)

Corporate News

Woori Bank is leading the charge in reducing carbon emissions Woori Bank has entered into a comprehensive business agreement with the Forestry Administration of Cambodia and the Asian Forest Cooperation Organisation (AFoCo) to initiate a landmark forest carbon emission reduction project in Cambodia. Stipulated to span 30 years, the project seeks to advance Reducing Emissions from Deforestation and Forest Degradation (REDD+) practices and contribute to global Environmental, Social, and Governance (ESG) management standards. Woori Bank's strategic initiative entails the conservation of an untouched forest area spanning approximately 30,213 hectares in northern Cambodia, along the Mekong River - a region hosting 220 diverse wildlife species. The bank's objective is to foster a balanced ecosystem that benefits both nature and local communities. By mitigating greenhouse gas emissions by an estimated 2.6 million tonnes, Woori Bank aims to enhance the quality of life for rural mountain communities. In pioneering fashion, Woori Bank stands as the first Korean bank to implement a REDD+ project, showcasing its commitment to sustainable preservation and effective management of ecosystems and forests. This initiative reflects the bank's dedication to environmental responsibility and the broader goals of global sustainability. (Source: Khmer Times)

Main Board

Growth Board