Cambodia and the U.S. set to launch trade negotiations in mid-May
News Highlights |
Economy and Industry
Cambodia and the U.S. set to launch trade negotiations in mid-May Trade discussions between Cambodia and the United States are scheduled to take place in Washington, D.C., on May 14-15, 2025. These talks aim to strengthen bilateral economic relations, explore new trade opportunities, and address existing trade barriers. Key topics on the agenda include tariff reductions, market access for Cambodian agricultural products, and potential U.S. investments in Cambodia's manufacturing and technology sectors. The negotiations come at a crucial time as Cambodia seeks to diversify its export markets beyond traditional partners like China and the EU. Both nations are expected to discuss ways to enhance cooperation in areas such as digital trade, intellectual property rights, and sustainable development. (Source: Khmer Times)
Cambodia's digital service strategy aims to transform business environment Cambodia has introduced a new e-service strategy designed to modernize its business landscape by enhancing digital infrastructure and improving online service delivery. The initiative focuses on streamlining administrative processes, reducing bureaucratic hurdles, and fostering a more competitive digital economy. Key components include expanding e-governance platforms, improving internet accessibility, and promoting digital literacy among businesses and citizens. The strategy aligns with Cambodia's broader economic goals of attracting foreign investment and increasing efficiency in both public and private sectors. By digitizing services such as business registrations, tax filings, and licensing, the government aims to reduce corruption, increase transparency, and create a more business-friendly environment. (Source: Khmer Times)
Asian Development Bank launches $40 billion program to combat food insecurity in Asia The Asian Development Bank (ADB) has unveiled an ambitious $40 billion commitment (2022-2030) and comes in response to worsening hunger crises exacerbated by climate change, supply chain disruptions, and economic instability. The initiative adopts a holistic approach targeting the entire food value chain. Of the additional $26 billion funds, a substantial $7.5 billion allocation will catalyze private sector investments in agricultural technology and infrastructure, while remaining funds will support government-led projects in sustainable farming, irrigation modernization, and climate-resilient crop development. This initiative aligns with the UN Sustainable Development Goals and is expected to benefit over 1.4 billion food-insecure people in the region. (Source: Khmer Times)
Corporate News
CDC, Malakoff Corporation, and GAEA explore investment opportunities in Cambodia Representatives from Council for the Development of Cambodia (CDC), Malaysia's Malakoff Corporation, and Thailand's GAEA plc recently met to discuss potential investment ventures in Cambodia. The discussions centered on renewable energy, infrastructure development, and sustainable agriculture, aligning with Cambodia's push for green economic growth. Malakoff, a major power producer, expressed interest in Cambodia's energy sector, particularly solar and hydropower projects. GAEA, a Thai agribusiness firm, explored opportunities in food processing and export-oriented farming. The meeting highlights Cambodia's growing appeal as an investment destination in Southeast Asia, with foreign investors recognizing its strategic location, improving regulatory environment, and untapped market potential. (Source: Khmer Times)
Stock Market
CSX inches up as PEPC leads gains; trading volume hits 131K shares On 05 May 2025, the CSX Index edged up by 0.03%, closing at 410.7 points. On the Main Board, PEPC (+9.02%), GTI (+0.85%), PPAP (+0.71%), MJQE (+0.46%), PAS (+0.34%), and PWSA (+0.32%) led the gainers, while ABC (-0.84%) and PPSP (-0.47%) posted losses. CGSM remained unchanged. On the Growth Board, DBDE and JSL recovered by 0.48% and 1.27%, respectively. Total trading volume for the day reached 131,547 shares, with a turnover of KHR 825 million. (Source: YSC Research)
CSX Stocks |
CSX Index
Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
410.73 | 0.03 | 131,547 | 11,016 |
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 | 6,320 | 0.32 | 0.00 | -0.63 | 6,340 | 6,260 | 17,873 | 550 |
GTI | 7,140 | 0.85 | 0.56 | 40.55 | 7,140 | 6,280 | 33,016 | 286 |
PPAP | 14,200 | 0.71 | 0.85 | 2.60 | 14,200 | 13,900 | 901 | 294 |
PPSP | 2,100 | -0.47 | -0.47 | -3.23 | 2,180 | 2,100 | 8,513 | 151 |
PAS | 11,980 | 0.34 | 0.17 | 3.63 | 11,980 | 11,640 | 1,510 | 1,028 |
ABC | 7,100 | -0.84 | -0.28 | -5.84 | 7,160 | 6,980 | 212,103 | 3,075 |
PEPC | 2,780 | 9.02 | 6.11 | 16.32 | 2,800 | 2,550 | 531 | 208 |
MJQE | 2,170 | 0.46 | -0.91 | 4.33 | 2,190 | 2,100 | 48,877 | 703 |
CGSM | 2,410 | 0.00 | -0.41 | -0.82 | 2,430 | 2,390 | 6,401 | 4,722 |
DBDE | 2,100 | 0.48 | 0.00 | 1.94 | 2,100 | 2,080 | 6,895 | 39 |
JSL | 3,190 | 1.27 | 0.31 | -6.73 | 3,230 | 3,090 | 1,354 | 82 |
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 | 4.94 | 0.51 | 1.40 | 10.13 |
GTI | 4Q24 | 48 | 7,057 | 148.75 | 1.01 | 0.85 | 26.07 |
PPAP** | 4Q24 | 2,550 | 22,115 | 5.57 | 0.64 | 1.73 | 3.49 |
PPSP** | 4Q24 | 220 | 3,866 | 9.56 | 0.54 | 2.84 | 5.01 |
PAS | 4Q24 | 1,478 | 8,224 | 8.11 | 1.46 | 2.24 | 8.00 |
ABC | 4Q24 | 1,140 | 13,790 | 6.23 | 0.51 | 0.94 | NA |
PEPC* | 1Q25 | -1,009 | -17 | NA | -161.51 | 4.86 | NA |
MJQE | 4Q24 | 37 | 307 | 58.45 | 7.07 | 4.29 | 13.00 |
CGSM | 4Q24 | 52 | 606 | 46.33 | 3.97 | 6.74 | 15.99 |
JSL | 4Q24 | 14 | 685 | 227.82 | 4.65 | 4.56 | 19.47 |
DBDE | 4Q24 | 23 | 1,840 | 91.87 | 1.14 | 0.54 | 8.29 |
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% | 2,454 |
ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,496 |
CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 3,116 |
CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,320 |
CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,767 |
GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 945 |
PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,507 |
RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,715 |
RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 962 |
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) | 2,789 |
SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,441 |
SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,441 |
SNTD40C | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 3.00% | 5,441 |
Government Bonds |
Historical Issuance Summary
1 Y | 2 Y | 3 Y | 5 Y | 10 Y | |
Total issuance ('K units) | 238.1 | 312.0 | 175.3 | 10.0 | 0.0 |
Outstanding (KHR'bn) | 58.0 | 240.0 | 175.3 | 10.0 | 0.0 |
Issuance ('K units, Latest) | 34.0 | 0.0 | 90.0 | 0.0 | 0.0 |
Coupon rate (Latest) | 2.70% | 3.20% | 3.50% | 4.75% | 5.25% |
Successful yield (Latest) | 3.25% | - | - | - | |
Latest bidding | 23-Apr-25 | 19-Feb-25 | 19-Mar-25 | 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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