Agriproduct exports exceeded $4.3 billion in 2023

/ January 8, 2024

CSX Stocks


CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
469.36 0.13 34,680 12,589

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 7,280 0.00 0.00 0.00 7,320 7,240 4,483 633
GTI 2,820 0.00 -0.70 -0.70 2,870 2,810 5,426 113
PPAP 13,820 0.00 -1.29 -1.29 14,000 13,700 797 286
PPSP 2,160 0.00 -0.92 -0.92 2,240 2,160 13,365 155
PAS 12,560 -0.16 -0.16 -0.16 12,600 12,300 1,533 1,077
ABC 10,000 -0.20 -0.60 -0.60 10,160 9,600 137,545 4,332
PEPC 2,650 3.52 -3.28 -3.28 2,740 2,510 1,128 199
MJQE 2,100 0.00 -1.41 -1.41 2,130 2,090 31,846 681
CGSM 2,610 0.38 -0.76 -0.76 2,670 2,490 46,950 5,114
DBDE 2,120 0.47 -0.93 -0.93 2,140 2,110 7,753 39
JSL 4,260 1.43 -3.18 -3.18 4,880 4,160 3,643 110
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* 2Q23 1,170 15,172 6.22 0.48 1.73 8.84
GTI 2Q23 95 7,181 29.54 0.39 0.31 11.58
PPAP* 2Q23 2,412 38,041 5.73 0.36 2.04 4.94
PPSP 2Q23 489 3,576 4.42 0.60 0.68 3.85
PAS* 2Q23 1,191 11,029 10.54 1.14 3.25 8.22
ABC 2Q23 1,608 12,485 6.22 0.80 1.33 NA
PEPC** 2Q23 -312 1,220 NA 2.17 2.50 33.15
MJQE 2Q23 29 289 72.89 7.25 5.54 17.44
CGSM 2Q23 98 392 26.75 6.66 6.56 15.63
JSL 2Q23 -239 185 NA 22.97 NA NA
DBDE 2Q23 76 1,919 28.02 1.10 0.52 11.56
NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *Excluding equity of non-common shares for PPWSA, PPAP and PAS; **FY ending in June

Corporate Bonds

Trading Summary

Bond Symbol Trading Vol (Units) Trading Val (KHR'mn) Latest Yield Credit Rating Bond Feature Coupon Rate (%) Days to Maturity
CGSM33A 0 0.0 - - KhAAA Sustainability Floating* 3,599
CIAF28A 0 0.0 - - KhAAA N/A 6.30% 1,803
GT27A 0 0.0 - - N/A Plain , Green 7.00% 1,428
RMAC25A 0 0.0 - - N/A Guaranteed 5.50% 457
RRC32A 0 0.0 - - N/A Plain 7.00% 3,198
RRGO27A 0 0.0 - - KhAAA Guaranteed Floating** 1,445
RRGT32B 0 0.0 - - KhAAA Guaranteed Floating*** 3,272
TCT26A 0 0.0 - - N/A Plain 4.50% 960
*SOFR +3% or 5.5% , whichever is higher; **SOFR+3,5% or 5% (take which one is higher);***SOFR+3,5% or 5% (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% (take which one is higher)

Government Bonds

Historical Issuance Summary

  1 Y 2 Y 3 Y 10 Y 15 Y
Total issuance ('K units) 148.1 132.0 22.0 - -
Outstanding (KHR'bn) 76.0 132.0 22.0 - -
Issuance ('K units, Latest) 20.0 28.0 6.0 - -
Coupon rate (Latest) 3.48% 4.00% 4.50% - -
Successful yield (Latest) 3.85% 4.45% 4.75% - -
Latest bidding 45,217 45,252 45,280 - -
*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.

News Highlights

Stock Market

Main board sees varied changes, growth board shows increases On January 8, 2024, the CSX index concluded at 469.4 points, reflecting a 0.13% increase from the previous day. Significant movements on the main board included PEPC (+3.52%) and CGSM (+0.38%) recording gains, while ABC (-0.20%) and PAS (-0.16%) experienced declines. PWSA, GTI, PPAP, PPSP, and MJQE maintained their prices. On the growth board, DBDE and JSL witnessed a 0.47% and 1.43% increase, respectively. In total, 34,680 shares were traded, amounting to a total trading value of KHR 301 million. (Source: YSC Research)

Economy and Industry

Agriproduct exports exceeded $4.3 billion in 2023 Cambodia exported 8.4 million tonnes of agricultural products in 2023, generating approximately $4.3 billion in revenue, as reported by the Ministry of Agriculture, Forestry, and Fisheries. Key exports included rice, bananas, mangoes, cassava, cashew nuts, corn, palm oil, pepper, and tobacco. Milled rice and paddy rice contributed $567 million and $939 million, respectively, while non-rice agricultural exports reached a value of $2.8 billion. Agriculture constitutes a vital pillar of Cambodia's economy, contributing 24.4% to the country's GDP in 2023. Major importers of Cambodia's agricultural products include China, Vietnam, and Thailand. The government has unveiled a new strategic policy for agricultural development, aiming to transition from household to commercial farming and boost farmers' income through value-added products. The policy involves deploying 250 agricultural officials initially, with plans to increase the number to over 1,300 by 2025. Additionally, the policy targets the modernization of traditional agricultural practices. (Source: Khmer Times)

A business summit between Cambodia and ASEAN is scheduled for March Cambodia is poised to host the inaugural Cambodia-ASEAN Business Summit in Phnom Penh in March 2024, with the goal of enhancing trade and connectivity in the region. Under the leadership of Prime Minister Hun Manet, the summit will emphasize four key pillars: Leveraging Technology for Inclusive Growth, Advancing Sustainability and Climate Action, Cambodia Gateway to ASEAN, and Unleashing the Power of Collaboration. The event will convene prominent business leaders, policymakers, and thought leaders to explore and harness the potential of technology, sustainability, and inclusive growth for a thriving ASEAN community. Approximately 500 participants from ASEAN and other global regions are anticipated to attend. Prime Minister Hun Manet will also share insights on how the Cambodian government aims to support ASEAN and Cambodian businesses for a shared future. (Source: Khmer Times)

Cambodia's rice exports surge in 2023, generating over $465 million in revenue Cambodia exported over 656,000 tonnes of milled rice in 2023, marking a 3% increase from the previous year and generating more than $465 million in revenue, as reported by the Cambodia Rice Federation (CRF). The country shipped 656,323 tonnes of milled rice through 63 exporters to 61 destinations, resulting in $466 million in earnings. Major export destinations included China, the EU, ASEAN, and Africa, with fragrant varieties accounting for 82.29% of the total exports. Paddy rice exports and revenue experienced significant growth of 26.50% and 56.69%, respectively, from 2022, contributing to a total of $1.786 billion earned from both milled and paddy rice in 2023. The Cambodian government is actively working to strengthen existing markets and explore new opportunities to further boost rice exports, with the commerce ministry and the Ministry of Agriculture, Forestry, and Fisheries collaborating on developing a strategic framework for milled rice export. (Source: The Phnom Penh Post)

Corporate News

General Science reveals a $255 million expansion strategy for Cambodia The 18-month project aims to increase the capacity of the plant, inaugurated in April last year, by adding the capability to produce 3.5 million units of semi-steel radial passenger car tires and 750,000 all-steel truck bus tires annually. Jiangsu General Science Technology Co., Ltd. (GS), established in 2002, is a modern high-tech enterprise focused on the research and development, production, and sales of high-quality tires. GS, listed on the Shanghai Stock Exchange in China in September 2016, operates three production bases in China, Thailand, and Cambodia, supported by a dedicated marketing team and a well-established sales network. The Cambodia factory, opened in 2022, is located on 18 hectares of land in Preah Sihanouk and employs 1,600 people, contributing not only to increased capacity but also to creating more employment opportunities and supporting Cambodia's industrialization process. GS's global presence includes sales in over 70 countries and regions, such as the United States, Europe, Asia, and Africa, with the Cambodia factory serving as its second overseas production base to expedite international development. (Source: Khmer Times)

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