NBC and Kamco sign MOU on non-performing loan management
| News Highlights |
Economy and Industry
NBC and Kamco sign MOU on non-performing loan management The National Bank of Cambodia (NBC) and the Korea Asset Management Corporation (KAMCO) signed a Memorandum of Understanding (MOU) to collaborate on managing non-performing loans (NPLs) in Cambodia. The MOU aims to enhance the financial stability of Cambodia's banking sector by leveraging Kamco's expertise in NPL management. Under the agreement, KAMCO will provide technical assistance, training, and capacity-building programs to NBC and Cambodian financial institutions. The collaboration is expected to improve the efficiency of NPL resolution, reduce the burden on banks, and support economic growth. NBC Governor Chea Serey emphasized the importance of addressing NPLs to maintain a healthy banking system and ensure sustainable economic development. (Source: Khmer Times)
50 Chinese firms explore business opportunities in Cambodia A delegation of 50 Chinese companies visited Cambodia to explore potential business opportunities and investments. The delegation, led by Li Fengzhi, Vice Governor of the People's Administrative Council of Guangzhou City, Henan province, met with with Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia (CDC), with Cambodian officials and business leaders to discuss various sectors, including manufacturing, agriculture, and infrastructure. The visit aimed to strengthen economic ties between China and Cambodia, leveraging Cambodia's strategic location and favorable investment climate. The Chinese firms expressed interest in investing in special economic zones, industrial parks, and agricultural projects. (Source: Khmer Times)
CGMC establishes onsite offices in licensed casinos The Commercial Gambling Management Commission of Cambodia (CGMC) announced the establishment of onsite offices in licensed casinos across the country. This initiative aims to enhance regulatory oversight and ensure compliance with Cambodia's gambling laws. The onsite offices will facilitate real-time monitoring of casino operations, improve transparency, and address any regulatory issues promptly. CGMC officials highlighted the importance of maintaining a well-regulated gambling industry to protect consumers and promote responsible gaming. The establishment of onsite offices is part of CGMC's broader efforts to strengthen the regulatory framework and align with international standards. The move has been welcomed by casino operators, who see it as a positive step towards a more transparent and accountable industry. (Source: Khmer Times)
Corporate News
Sky Angkor Airlines integrates ABA PayWay for secure ticket payments Sky Angkor Airlines has partnered with ABA Bank to integrate the ABA PayWay online payment gateway into its ticket booking system. This integration aims to provide customers with seamless and secure payment experience. ABA PayWay supports multiple payment methods, including credit cards, mobile payments, and e-wallets, ensuring flexibility and convenience for customers. The partnership is part of Sky Angkor Airlines' efforts to enhance customer service and streamline the ticket purchasing process. ABA Bank's PayWay system is known for its robust security features, which protect customers' financial information and prevent fraud. (Source: Cambodian Investment Review)
Stock Market
CSX index climbs to 413.6 points; trading volume at 25k shares The CSX index rose by 0.10%, closing at 413.6 points. On the main board, PPSP (+0.46%), CGSM (+0.41%), and GTI (+0.33%) posted gains, while PAS (-0.84%) and PEPC (-0.76%) recorded losses. PWSA, PPAP, ABC, and MJQE remained unchanged. On the growth board, DBDE gained 0.48%, while JSL declined by 0.33%. The session recorded a total trading volume of 25,921 shares, with a turnover of KHR 141 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 413.63 | 0.10 | 25,921 | 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 | 6,360 | 0.00 | 1.27 | 0.00 | 6,360 | 6,240 | 39,473 | 553 |
| GTI | 6,100 | 0.33 | 0.99 | 20.08 | 6,140 | 5,520 | 21,606 | 244 |
| PPAP | 14,180 | 0.00 | -3.67 | 2.46 | 14,880 | 14,020 | 4,991 | 293 |
| PPSP | 2,180 | 0.46 | 1.40 | 0.46 | 2,180 | 2,150 | 9,449 | 157 |
| PAS | 11,800 | -0.84 | -0.34 | 2.08 | 11,900 | 11,640 | 2,795 | 1,012 |
| ABC | 7,320 | 0.00 | -0.27 | -2.92 | 7,400 | 7,180 | 153,674 | 3,171 |
| PEPC | 2,620 | -0.76 | 7.82 | 9.62 | 2,640 | 2,400 | 3,721 | 196 |
| MJQE | 2,120 | 0.00 | 0.47 | 1.92 | 2,120 | 2,080 | 28,801 | 687 |
| CGSM | 2,440 | 0.41 | 0.00 | 0.41 | 2,440 | 2,420 | 30,567 | 4,781 |
| DBDE | 2,110 | 0.48 | 0.96 | 2.43 | 2,110 | 2,060 | 10,216 | 39 |
| JSL | 3,050 | -0.33 | 0.00 | -10.82 | 3,080 | 3,040 | 1,935 | 78 |
| 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 | 4.97 | 0.51 | 1.41 | 10.15 |
| GTI | 4Q24 | 48 | 7,057 | 127.08 | 0.86 | 0.73 | 23.17 |
| PPAP | 4Q24 | 2,550 | 22,115 | 5.56 | 0.64 | 1.73 | 3.49 |
| PPSP | 4Q24 | 220 | 3,866 | 9.92 | 0.56 | 2.95 | 5.19 |
| PAS | 4Q24 | 1,478 | 8,224 | 7.99 | 1.43 | 2.20 | 7.91 |
| ABC | 4Q24 | 1,140 | 13,790 | 6.42 | 0.53 | 0.97 | NA |
| PEPC* | 1Q25 | -1,009 | -17 | NA | -152.21 | 4.58 | NA |
| MJQE | 4Q24 | 37 | 307 | 57.11 | 6.91 | 4.19 | 12.71 |
| CGSM | 4Q24 | 52 | 606 | 46.91 | 4.02 | 6.82 | 16.17 |
| JSL | 4Q24 | 14 | 685 | 217.82 | 4.45 | 4.36 | 18.96 |
| DBDE | 4Q24 | 23 | 1,840 | 92.31 | 1.15 | 0.55 | 8.33 |
| 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% | 2,513 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 3,175 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,379 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 1,004 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,566 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed Bond | 5.50% Annually | 33 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,774 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 1,021 |
| 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) | 2,848 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain Bond | 4.50% Annually | 536 |
| 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 | 0.0 | 0.0 | 0.0 | 0.0 |
| Coupon rate (Latest) | 2.80% | 3.20% | 3.80% | 4.75% | 5.25% |
| Successful yield (Latest) | 3.13% | - | - | - | |
| Latest bidding | 23-Jan-25 | 19-Feb-25 | 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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