Securities regulator plans to establish property fund stock

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CSX market index rallies 0.40% after retreating on Monday and Tuesday On Oct 26, 2022, the CSX market index rallied from 466.7pts to 468.59pts, which gained 0.40% after dropping on Monday and Tuesday. ABC, DBDE and JSL shares gained 0.78%, 0.42% and 3.21% respectively. JSL shares posted over 60% of month-to-date gain. Meanwhile, GTI, PPSP, PAS, and PEPC shares fell 0.76%, 0.43%, 0.31% and 0.31%. PWSA and PPAP were unchanged today.  (Source: Yuanta Securities)

Economy and Industry

Waterway transportation agreement benefits Vietnam, Cambodia A waterway transportation agreement between Vietnam and Cambodia that came into effect in 2011 has facilitated the passage of nearly 78,000 vessels and more than 406,000 sailors. Some 20 million tonnes of cargo and 1.3 million passengers have been transported via the Vietnam-Cambodia waterway routes, contributing to socio-economic and cultural development in each country and the bilateral friendship, according to the Vietnam Inland Waterways Administration. The volume of containers on the routes has increased by 20 percent per year to reach nearly 350,000 TEUS in 2021, and is expected to hit about 400,000 TEUS this year. Transportation services have generated jobs and brought about $60 million to businesses operating on those waterway routes each year. As of October, around 100 enterprises, organisations and individuals had been operating waterway routes between Vietnam and Cambodia, including big firms with representative offices in Cambodia like SNP, Gemadept, GLS and Tan Cang Cypress. (Source: Khmer Times)

Cambodia, Singapore to enhance energy cooperation Cambodia and Singapore signed the memorandum of understanding on energy cooperation, paving the way to energy transition infrastructure development and investment opportunities in energy connectivity in the ASEAN region. The cooperation is expected to enhance energy security and sustainability in the region. The two sides agreed in principle to develop the transitional energy infrastructure and increase energy connectivity opportunities in ASEAN to enhance energy security and sustainability, said Heng Kunleang, director-general of the ministry's energy department. This cooperation is beneficial and a step towards the vision of ASEAN energy connectivity, in which the two countries are like-minded partners, taking into account common interests and common goals towards cleaner and more energy-efficient sources and towards zero emissions at or between the middle of the century. In fact, in 2021, energy from renewable energy sources, including hydropower, solar energy and biomass energy, increased to 40 percent. Also, in terms of the power capacity of Cambodia's energy sources, the share of renewable energy sources is around 55 percent of the total installed power capacity. (Source: Khmer Times)

Securities regulator plans to establish property fund stock The Securities and Exchange Regulator of Cambodia (SERC) plans to establish a property fund stock exchange for companies to raise cash from the public. The SERC will transform the trading of real estate products into stocks and changing the way it is traded will allow real estate to be traded more easily and more efficiently, as well as help improve the Cambodian stock market, said its director-general Sou Socheat.SERC is studying the possibility of preparing a supplementary regulation for listing real estate-related fund packages on the stock exchange for companies to raise cash from the public for investment, Socheat said in a ceremony of "My First STOCK" held last Friday. This work will be carried out together with the regulator of real estate and mortgage business with the permission of the Ministry of Economy and Finance, he said. Property funds are investments in commercial property, for example, offices, factories, warehouses and retail space. Customers make lump-sum investments, which are pooled together and used to purchase a range of assets, invested in two ways -- directly in commercial property and indirectly, by buying shares in property companies or other property funds. Hong Sok Hour, Chief Executive Officer of the Cambodia Securities Exchange, said the transformation of real estate products into a stock exchange is an easy and quick way for investors to trade. (Source: Khmer Times)

Corporate News

Smart teaming up on fleet managing deal with Cartrack Local mobile operator Smart Axiata Co Ltd announced that it is teaming up with Johannesburg-listed auto-tech company Cartrack to bring its "world-class" fleet management services to Cambodian consumers. Branded as "Smart Fleet Management", the Smart Axiata-Cartrack fleet management solution seeks to "meet the needs of all businesses that require fleet management solutions to improve their operational cost and vehicle management", according to a press release issued by Smart."Features include real-time comprehensive monitoring and deep insight into their fleet operation and drivers' behaviour, supportive product training and after-sales support, and a comprehensive while easy-to-understand dashboard with detailed reports. It added that the South African firm serves as "a leading global mobility software-as-a-service platform" and "provides real-time data analytics solutions for smart transportation to over 1.6 million active subscribers and 93,000 business partners globally in 23 countries". Cartrack founder and group CEO Zak Calisto has said in previous interviews that he launched the company in 2004 in response to surging vehicle crime in South Africa. Cartrack Holdings Ltd is a wholly-owned subsidiary of Singapore-based Karooooo Ltd, of which Calisto is also founder and CEO. (Source: The Phnom Penh Post)

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