Major economic pacts to be signed between Cambodia and Philippines
| News Highlights |
Economy and Industry
Major economic pacts to be signed between Cambodia and Philippines Philippine President Ferdinand R. Marcos Jr. has begun a three-day visit to Cambodia, with major economic agreements expected in areas including air connectivity, tourism, and agriculture. The visit aims to strengthen bilateral economic and political ties, diversify trade, enhance cooperation on transnational crime, and secure Cambodia's support for the Philippines' 2026 ASEAN chairmanship. Discussions are focused on boosting intra-ASEAN trade, promoting tourism, and utilizing Cambodia for supply chain diversification, with potential for Philippine investment in sectors like agriculture and digital services. Both nations are looking to deepen economic engagement, with Cambodia seen as a viable alternative for supply chain diversification and a market for Philippine exports and services. (Source: Khmer Times)
Coffee shipments from Vietnam to Cambodia jump Vietnam's coffee exports for the first seven months of the year reached nearly 1.1 million tonnes, valued at over $6 billion, representing an 8% increase in volume and a 66% increase in value year-on-year. Europe remains the largest market, but demand is notably growing in Asia, especially Cambodia. Coffee exports to Cambodia surged significantly in July and overall for January-July, attributed to expanding bilateral trade and opportunities arising from supply disruptions in Cambodia. Discussions between Vietnamese and Cambodian leaders aim to boost trade to $20 billion through improved connectivity and business facilitation. The Vietnam Coffee and Cocoa Association reported that exports for October 2024-July 2025 are projected at 1.35 million tonnes worth $7.5 billion. (Source: Khmer Times)
Cambodia quietly adjusts its renewable energy ambitions Cambodia is committed to achieving net zero emissions by 2050 and increasing its renewable electricity share to 70% by 2030, focusing on solar, hydropower, and wind energy. The country's Power Development Plan (PDP) 2022-2040 details significant capacity expansion targets for these sources. Recent approvals include over $5 billion in renewable energy projects, with the government actively seeking investment partnerships. Incentives for green energy investors, such as tax exemptions under the Law on Investment for Qualified Investment Projects (QIPs), and measures like tariff adjustments for rooftop solar are in place. Cambodia is also investing in smart grid technologies, battery storage, and importing clean energy to enhance reliability and security. (Source: Khmer Times)
Corporate News
Wing Bank partners with La Cima Cartel to showcase Khmer spirit Wing Bank, Cambodia's leading digital bank, has named the hip-hop collective La Cima Cartel as its new brand ambassador. The partnership was revealed at an event attended by influencers and streamed online, aiming to connect the bank with Cambodia's youth and empower them. Wing Bank's Chief Marketing Officer highlighted La Cima Cartel as a voice for the generation, embodying innovation and Cambodian spirit. La Cima Cartel expressed pride in representing Wing Bank, sharing a mutual mission of uplifting Khmer culture and showcasing Cambodian creativity internationally. This collaboration marks a new chapter for Wing Bank, blending financial innovation with cultural celebration. (Source: B2B Cambodia)
Stock Market
CSX index up 0.36% as PAS leads main board gains On 08 September 2025, the CSX Index rose 0.36% to close at 403.3 points. On the Main Board, PAS (+0.67%), PPSP (+0.49%), CGSM (+0.41%), PEPC (+0.40%), PWSA (+0.32%), and PPAP (+0.29%) posted gains, while GTI (-0.28%) recorded a loss. MJQE closed unchanged. On the Growth Board, DBDE and JSL also closed unchanged. Total trading volume reached 101,990 shares, with a turnover of KHR 326 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 403.25 | 0.36 | 101,990 | 10,816 |
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 | 6,220 | 0.32 | -0.32 | -2.20 | 6,260 | 6,180 | 17,111 | 541 |
| GTI | 7,060 | -0.28 | -1.40 | 38.98 | 7,180 | 6,960 | 10,621 | 282 |
| PPAP | 13,600 | 0.29 | -0.29 | -1.73 | 13,700 | 13,500 | 1,001 | 281 |
| PPSP | 2,070 | 0.49 | 0.98 | -4.61 | 2,090 | 2,050 | 80,393 | 149 |
| PAS | 12,100 | 0.67 | 0.83 | 4.67 | 12,140 | 11,920 | 2,537 | 1,038 |
| ABC | 6,760 | 0.30 | -0.29 | -10.34 | 6,860 | 6,740 | 93,894 | 2,928 |
| PEPC | 2,540 | 0.40 | -2.31 | 6.28 | 2,700 | 2,510 | 769 | 190 |
| MJQE | 1,990 | 0.00 | 0.00 | -4.33 | 2,000 | 1,980 | 40,583 | 645 |
| CGSM | 2,430 | 0.41 | -1.22 | 0.00 | 2,460 | 2,420 | 45,994 | 4,761 |
| DBDE | 2,040 | 0.00 | 0.00 | -0.97 | 2,050 | 1,990 | 2,877 | 38 |
| JSL | 2,780 | 0.00 | 0.00 | -18.71 | 2,800 | 2,760 | 1,260 | 71 |
| 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 | 2Q25 | 827 | 11,622 | 7.52 | 0.54 | 1.70 | 14.89 |
| GTI | 2Q25 | 29 | 7,023 | 242.28 | 1.01 | 0.86 | 39.77 |
| PPAP | 1Q25 | 2,951 | 22,115 | 4.61 | 0.61 | 1.58 | 3.97 |
| PPSP | 2Q25 | 735 | 4,376 | 2.82 | 0.47 | 0.95 | 2.09 |
| PAS | 1Q25 | 1,212 | 8,224 | 9.98 | 1.47 | 2.18 | 7.67 |
| ABC | 2Q25 | 1,460 | 14,410 | 4.63 | 0.47 | 0.81 | NA |
| PEPC* | 3Q25 | -1,445 | -1,303 | NA | NA | 3.04 | NA |
| MJQE | 2Q25 | 45 | 340 | 44.05 | 5.85 | 3.89 | 12.76 |
| CGSM | 2Q25 | 25 | 618 | 98.91 | 3.93 | 6.94 | 19.28 |
| JSL | 2Q25 | -82 | 492 | NA | 5.65 | 20.57 | 34.36 |
| DBDE | 2Q25 | 147 | 1,933 | 13.92 | 1.06 | 0.31 | 7.22 |
| 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% | 2,328 |
| ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,370 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 2,990 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,194 |
| CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,641 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 819 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,381 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,589 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 836 |
| 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) | 2,663 |
| SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,315 |
| SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,315 |
| SNTD40C | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 3.00% | 5,315 |
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 5 Y | 10 Y | |
| Total issuance ('K units) | 238.1 | 312.0 | 187.3 | 18.0 | 0.0 |
| Outstanding (KHR'bn) | 58.0 | 208.0 | 187.3 | 18.0 | 0.0 |
| Issuance ('K units, Latest) | 34.0 | 0.0 | 12.0 | 8.0 | 0.0 |
| Coupon rate (Latest) | 2.70% | 3.20% | 3.50% | 4.34% | 4.60% |
| Successful yield (Latest) | 3.25% | - | 3.50% | 5.00% | - |
| Latest bidding | 23-Apr-25 | 21-May-25 | 25-Jun-25 | 45,861 | 45,889 |
| *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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