Cambodia's e-commerce market reaches $1.12 billion
| News Highlights |
Economy and Industry
Cambodia's e-commerce market reaches $1.12 billion The e-commerce market in Cambodia has witnessed significant growth, reaching a market value of $1.12 billion. This remarkable expansion is fueled by the increasing adoption of digital platforms by businesses and consumers, as well as the government's supportive policies and infrastructure development initiatives. The market's upward trajectory is expected to persist, with projections indicating continued growth in the coming years. Key sectors driving this growth include fashion, electronics, and household goods. The rise of e-commerce has intensified competition among businesses, prompting them to innovate and enhance their online offerings to attract and retain customers. This competitive environment has spurred a wave of creativity and improvement in the digital marketplace, benefiting both consumers and businesses. (Source: Khmer Times)
Koh Kong considered as prime investment hub Koh Kong province is tipped to be a highly promising investment destination, with substantial potential for economic growth and development by Thailand's Siam Commercial Bank (SCB). The province's strategic location, abundant natural resources, and ongoing infrastructure projects make it an attractive option for investors. Recent investments in eco-tourism and sustainable development projects have further enhanced Koh Kong's appeal. The local government is actively working to create a favorable environment for investment by streamlining regulations and offering incentives to businesses. As a result, Koh Kong is poised to become a key player in Cambodia's economic landscape. The province's potential to attract both local and international investors is significant, as it offers numerous opportunities for growth across various sectors. (Source: Khmer Times)
Ministry of Environment promotes sand mining investments The Ministry of Environment (MoE) has introduced new policies aimed at encouraging investments in the sand mining sector. These policies seek to streamline the approval process for environmental impact assessments (EIAs) and provide clear guidelines for sustainable sand mining practices. The MoE's efforts are part of a broader strategy to balance economic development with environmental protection. By promoting responsible sand mining, the ministry aims to attract both local and international investors while minimizing the negative impacts on the environment and local communities. The new policies are expected to boost the sector's growth and contribute to Cambodia's overall economic development, ensuring that sand mining activities are conducted in an environmentally conscious manner. (Source: Khmer Times)
Corporate News
ABA Bank's specialized financing program for TotalEnergies distributors ABA Bank has introduced a specialized financing program tailored for distributors of TotalEnergies, a leading energy company. This program aims to provide financial support to TotalEnergies' distributors, enabling them to expand their operations and improve their cash flow. Under this initiative, ABA Bank offers customized credit facilities, including working capital loans and business expansion loans. The program is part of ABA Bank's commitment to supporting the growth of businesses in Cambodia and fostering long-term partnerships with key industry players. By ensuring that distributors have the financial resources they need to thrive, the program aims to promote the growth and sustainability of the energy sector in Cambodia, contributing to the country's overall economic development. (Source: Khmer Times)
Stock Market
CSX index dips 0.06% amid balanced market movement The CSX index was up by 0.63%, closing at 413.6 points. On the main board, ABC (+1.66%), PEPC (+1.21%), MJQE (+0.48%), and CGSM (+0.41%) led the gains, while GTI (-1.31%), PPAP (-0.54%), PPSP (-0.46%), and PWSA (-0.32%) posted losses. PAS remained unchanged. On the growth board, DBDE remained unchanged, while JSL was up by 0.33%. The session recorded a total trading volume of 78,406 shares, with a turnover of KHR 455 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 413.63 | 0.63 | 78,406 | 11,094 |
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 | 6,260 | -0.32 | -0.63 | -1.57 | 6,320 | 6,240 | 78,792 | 544 |
| GTI | 6,020 | -1.31 | 12.73 | 18.50 | 6,140 | 5,300 | 100,108 | 241 |
| PPAP | 14,800 | -0.54 | 6.17 | 6.94 | 14,880 | 13,820 | 7,174 | 306 |
| PPSP | 2,160 | -0.46 | 0.00 | -0.46 | 2,170 | 2,140 | 45,868 | 155 |
| PAS | 11,840 | 0.00 | -0.50 | 2.42 | 11,900 | 11,640 | 13,546 | 1,016 |
| ABC | 7,340 | 1.66 | 0.55 | -2.65 | 7,340 | 7,160 | 361,898 | 3,179 |
| PEPC | 2,510 | 1.21 | 6.36 | 5.02 | 2,540 | 2,350 | 8,390 | 188 |
| MJQE | 2,110 | 0.48 | 1.44 | 1.44 | 2,110 | 2,080 | 72,378 | 684 |
| CGSM | 2,440 | 0.41 | 0.00 | 0.41 | 2,450 | 2,420 | 102,800 | 4,781 |
| DBDE | 2,100 | 0.00 | 2.44 | 1.94 | 2,100 | 2,050 | 3,421,147 | 39 |
| JSL | 3,060 | 0.33 | -0.33 | -10.53 | 3,080 | 3,020 | 5,370 | 79 |
| 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 | 3Q24 | 1,279 | 12,359 | 4.89 | 0.51 | 1.39 | 10.10 |
| GTI | 3Q24 | 91 | 7,114 | 66.52 | 0.85 | 0.70 | 17.72 |
| PPAP | 3Q24 | 2,406 | 21,877 | 6.15 | 0.68 | 1.89 | 3.86 |
| PPSP | 3Q24 | 267 | 3,759 | 8.08 | 0.57 | 2.38 | 4.62 |
| PAS | 3Q24 | 784 | 7,630 | 15.09 | 1.55 | 2.48 | 9.04 |
| ABC | 3Q24 | 1,041 | 13,404 | 7.05 | 0.55 | 0.91 | NA |
| PEPC* | 1Q25 | -1,009 | -17 | NA | -145.82 | 4.39 | NA |
| MJQE | 3Q24 | 41 | 290 | 51.03 | 7.26 | 4.23 | 14.68 |
| CGSM | 3Q24 | 137 | 603 | 17.80 | 4.04 | 6.69 | 14.48 |
| JSL | 3Q24 | 3 | 677 | 1123.90 | 4.52 | 3.38 | 25.92 |
| DBDE | 3Q24 | -340 | 1,510 | NA | 1.39 | 0.59 | NA |
| NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *FY ending in June, **excluding non-voting shares | |||||||
| Corporate Bonds |
Trading Summary
| Bond Symbol | Trading Vol (Units) | Trading Val (KHR'mn) | Latest Yield | Credit Rating | Bond Feature | Coupon Rate (%) | Days to Maturity |
| ABC32A | 0 | 0.0 | - - | khAA | Subordinated Bond | 8.50% | 2,522 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 3,184 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,388 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 1,013 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,575 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed Bond | 5.50% Annually | 42 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | Floating** | 2,783 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating*** | 1,030 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% per annum (take which one is higher) | 2,857 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain Bond | Floating**** | 545 |
| TCT28A ; **7% Annually;***SOFR+3,5% or 5% per annum (take which one is higher);****4.50% Annually | |||||||
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 5 Y | 10 Y | |
| Total issuance ('K units) | 204.1 | 312.0 | 85.3 | 10.0 | 0.0 |
| Outstanding (KHR'bn) | 34.0 | 240.0 | 85.3 | 10.0 | 0.0 |
| Issuance ('K units, Latest) | 24.0 | 20.0 | 0.0 | 0.0 | 0.0 |
| Coupon rate (Latest) | 2.80% | 4.00% | 3.80% | 4.75% | 5.25% |
| Successful yield (Latest) | 3.13% | 4.00% | - | - | - |
| Latest bidding | 23-Jan-25 | 29-May-24 | 11-Dec-24 | 45,581 | 45,525 |
| *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. | |||||
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