CSX and YEAC sign MoU to support entrepreneurial growth

/ June 9, 2025


News Highlights

Economy and Industry

CSX and YEAC sign MoU to support entrepreneurial growth The Cambodia Securities Exchange (CSX) and the Young Entrepreneurs Association of Cambodia (YEAC) have signed a Memorandum of Understanding to promote the securities sector and provide new financing options for Cambodian entrepreneurs. The partnership aims to enhance understanding of leveraging the securities market for business growth, emphasize corporate governance, and promote transparency. The partnership will organize support and consulting programs for members, as well as short training courses on financing preparation. Despite these efforts, some business owners still face challenges in obtaining credit and capital, such as the requirement to provide collateral, strict credit terms, high interest rates, short loan repayment periods, and lack of financial and supporting documents. (Source: Khmer Times)

Ministry of Commerce boosts Cambodian agricultural exports in China The Secretary of State of the Ministry of Commerce, Lim Lork Piseth, and Vice Mayor Zeng Ling of the Beihai Municipal People's Government in China, presided over an event to promote agricultural products and sign a strategic cooperation agreement between Cambodian and Chinese companies. The event took place in Beihai, China, on June 6, aimed to promote and enhance the export of Cambodia's potential agricultural products to the Chinese market through the Guangxi Zhuang Autonomous Region. The key agreement was signed between Guangxi Xiyaya Food Co Ltd and Lumisun Asian Fruits Co Ltd for the purchase and sale of 20,000 tons of Cambodian dried mango from 2025 to 2027 and 15,000 tonnes of Cambodian durian from 2025 to 2026. (Source: Khmer Times)

Jiangsu's $1.84 billion investment strengthens Cambodia-China relations Cambodia's Jiangsu province has become a significant economic partner for the country, with 217 investment projects worth $1.84 billion underway. The announcement was made during the "Sihanoukville-Jiangsu Investment Cooperation Forum" in Nanjing, where officials and over 200 Chinese business leaders gathered to strengthen bilateral investment ties. 32 projects were initiated in 2024 alone, bringing in fresh capital worth approximately $180 million. The surge in investment reflects the growing momentum of the strategic partnership between Cambodia and China, covering sectors such as manufacturing, logistics, real estate, and tourism. The province's infrastructure readiness, including three international seaports and a railway line, is also contributing to the growth. The province's strategic partnership between Cambodia and China is a symbol of the "ironclad friendship and comprehensive strategic partnership. (Source: Khmer Times)

Corporate News

Basecamp Meetup by FirstWave aims to redefine startup connections in Cambodia FirstWave, a founder-led initiative supporting post-acceleration startups in Cambodia, has launched its new community event series, Basecamp Meetup. The event, titled "A Founder-Led Community, Ready to Share and Guide," featured short lightning talks, a live community poll, and an open mic segment to foster dialogue among founders. The event, led by serial entrepreneur Vireak Chea, aims to reframe startup support in Cambodia's ecosystem and promote a more honest, supportive, and founder-focused environment. The event, which aimed to bridge the gap for startups graduating from accelerator programs, is expected to become a regular fixture in Cambodia's startup calendar. As Cambodia's startup ecosystem matures, initiatives like FirstWave may play an increasingly important role in fostering a sustainable, founder-friendly environment rooted in collaboration over competition. (Source: Cambodia Investment Review)

Stock Market

CSX index gains 0.15% amid mixed trading On 09 June 2025, the CSX Index rose by 0.15%, closing at 407.4 points. On the Main Board, GTI (+0.50%), CGSM (+0.41%), and PPAP (+0.15%) were the gainers, while PPSP (-1.42%), PEPC (-0.37%), and PAS (-0.16%) recorded losses. PWSA, ABC, and MJQE remained unchanged. On the Growth Board, DBDE declined by 0.93%, while JSL saw no change. Total trading volume reached 59,849 shares, with a turnover of KHR 313 million. (Source: YSC Research)

CSX Stocks


CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
407.44 0.15 59,849 10,928

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 0.00 0.00 -0.63 6,320 6,300 19,137 550
GTI 7,980 0.50 -0.50 57.09 8,200 7,060 38,133 319
PPAP 13,420 0.15 0.15 -3.03 14,200 13,380 2,208 278
PPSP 2,090 -1.42 -1.42 -3.69 2,160 2,090 38,866 150
PAS 12,200 -0.16 1.84 5.54 12,220 11,780 4,047 1,046
ABC 6,900 0.00 -0.29 -8.49 6,960 6,880 153,400 2,989
PEPC 2,670 -0.37 -2.20 11.72 2,810 2,590 4,099 200
MJQE 2,020 0.00 0.00 -2.88 2,040 2,010 41,308 655
CGSM 2,420 0.41 -0.41 -0.41 2,450 2,410 28,770 4,741
DBDE 2,140 -0.93 -1.38 3.88 2,170 2,090 18,965 40
JSL 2,840 0.00 3.27 -16.96 3,130 2,600 9,025 73
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 4Q24 978 11,199 6.46 0.56 1.73 13.23
GTI 4Q24 48 7,057 166.25 1.13 0.95 28.42
PPAP 4Q24 2,550 22,115 5.26 0.61 1.64 3.31
PPSP 4Q24 220 3,866 9.51 0.54 2.83 4.99
PAS 4Q24 1,478 8,224 8.26 1.48 2.28 8.10
ABC 4Q24 1,140 13,790 6.05 0.50 0.91 NA
PEPC* 1Q25 -1,009 -17 NA -155.12 4.67 NA
MJQE 4Q24 37 307 54.41 6.58 3.99 12.14
CGSM 4Q24 52 606 46.52 3.99 6.76 16.05
JSL 4Q24 14 685 202.82 4.14 4.06 18.19
DBDE 4Q24 23 1,840 93.62 1.16 0.55 8.43
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% 2,419
ABC32B 0 0.0 - - KhAA Subordinated Bond 8.50% 2,461
CGSM33A 0 0.0 - - KhAAA Sustainability Bond SOFR +3% or 5.5% per annum, whichever is higher 3,081
CIAF28A 0 0.0 - - KhAAA N/A 6.30% Annually 1,285
CIAF30A 0 0.0 - - KhAAA Guaranteed Bond 5.60% 1,732
GT27A 0 0.0 - - N/A Plain Bond, Green Bond 7% per annum 910
PPSP29A 0 0.0 - - KhAAA Guaranteed Green Bond Term SOFR + 1.5% 1,472
RRC32A 0 0.0 - - N/A Plain Bond 7% Annually 2,680
RRGO27A 0 0.0 - - KhAAA Guaranteed Bond SOFR+3,5% or 5% per annum (take which one is higher) 927
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) 2,754
SNTD40A 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 1.80% 5,406
SNTD40B 0 0.0 - - N/A Green Infrastructure Bond 180-Day Average SOFR + 1.60% (4.00% - 6.00%) 5,406
SNTD40C 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 3.00% 5,406
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) 58.0 236.0 175.3 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% - 4.25% - -
Latest bidding 23-Apr-25 21-May-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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