Trade volume between France and Cambodia reaches $515M
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 465.92 | -0.14 | 46,309 | 12,496 |
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 | 7,240 | 0.00 | -0.55 | -0.55 | 7,300 | 7,240 | 37,489 | 630 |
| GTI | 2,810 | 0.00 | -1.06 | -1.06 | 2,840 | 2,800 | 7,898 | 112 |
| PPAP | 13,840 | -0.14 | -1.14 | -1.14 | 14,000 | 13,700 | 3,335 | 286 |
| PPSP | 2,170 | 0.00 | -0.46 | -0.46 | 2,180 | 2,150 | 42,494 | 156 |
| PAS | 12,500 | 0.00 | -0.64 | -0.64 | 12,620 | 12,420 | 4,280 | 1,072 |
| ABC | 10,000 | 0.00 | -0.60 | -0.60 | 10,160 | 9,860 | 257,767 | 4,332 |
| PEPC | 2,830 | 1.07 | 3.28 | 3.28 | 2,830 | 2,540 | 3,623 | 212 |
| MJQE | 2,100 | 0.00 | -1.41 | -1.41 | 2,130 | 2,100 | 71,436 | 681 |
| CGSM | 2,560 | -0.39 | -2.66 | -2.66 | 2,670 | 2,560 | 194,729 | 5,016 |
| DBDE | 2,120 | 0.00 | -0.93 | -0.93 | 2,140 | 2,100 | 18,223 | 39 |
| JSL | 4,020 | -0.50 | -8.64 | -8.64 | 4,480 | 4,020 | 7,602 | 103 |
| 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 | 6.19 | 0.48 | 1.72 | 8.82 |
| GTI | 2Q23 | 95 | 7,181 | 29.44 | 0.39 | 0.31 | 11.55 |
| PPAP* | 2Q23 | 2,412 | 38,041 | 5.74 | 0.36 | 2.04 | 4.94 |
| PPSP | 2Q23 | 489 | 3,576 | 4.44 | 0.61 | 0.68 | 3.86 |
| PAS* | 2Q23 | 1,191 | 11,029 | 10.49 | 1.13 | 3.23 | 8.19 |
| ABC | 2Q23 | 1,608 | 12,485 | 6.22 | 0.80 | 1.33 | NA |
| PEPC** | 2Q23 | -312 | 1,220 | NA | 2.32 | 2.67 | 33.98 |
| MJQE | 2Q23 | 29 | 289 | 72.89 | 7.25 | 5.54 | 17.44 |
| CGSM | 2Q23 | 98 | 392 | 26.24 | 6.53 | 6.43 | 15.37 |
| JSL | 2Q23 | -239 | 185 | NA | 21.68 | 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* | 3,589 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,793 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,418 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 447 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 3,188 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,435 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,262 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 950 |
| TCT28A | 0 | 0.0 | - - | KhAAA | N/A | Floating**** | 1,807 |
| *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);****Term SOFR + 2.5% | |||||||
| 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
Mixed movements on January 18, 2024 On January 18, 2024, the CSX index closed at 465.9 points, marking a 0.14% decrease from the previous day. Key movements on the main board included a gain for PEPC (+1.07%), while CGSM (-0.39%) and PPAP (-0.14%) experienced declines. PWSA, GTI, PPSP, PAS, ABC, and MJQE maintained stable prices. On the growth board, DBDE remained unchanged, and JSL witnessed a 0.50% decrease. The day's trading activity involved 46,309 shares, with a cumulative trading value reaching KHR 292 million. (Source: YSC Research)
Economy and Industry
Trade volume between France and Cambodia reaches $515M Cambodia's Prime Minister, Hun Manet, has emphasized France's significance as a crucial development partner, playing a substantial role in the country's economic success. Despite the geographical distance, the two nations share a long history of interconnectedness across various aspects, including architecture, culture, food, language, administrative systems, law, and regulations. The Prime Minister underscored the potential for French businesses to expand operations in sectors such as agriculture, processing factories, electricity, renewable energy, healthcare, education, and information technology. The bilateral trade volume between Cambodia and France reached $515.21 million in 2023, establishing France as one of Europe's major investment and trade partners in Cambodia. Additionally, the Prime Minister highlighted Cambodia's strategic location in Southeast Asia, access to sustainable regional markets, and its open economy. The country has bilateral and multilateral free trade agreements (FTAs) with China, South Korea, and the United Arab Emirates (UAE), making it an attractive destination for international investors. Cambodia's GDP is $25.8 billion. (Source: Khmer Times)
PwC is drafting a crucial economic document for Cambodia PricewaterhouseCoopers (PwC) is set to draft the Financial Development Strategy Document (FDSD) for Cambodia, outlining the country's economic sectors and strategies for future development. Commissioned in 2021, the document faced delays due to the pandemic. It is expected to include a sectoral analysis to provide policymakers with insights into future decisions. PwC commended the National Bank of Cambodia (NBC) for its input and pledged to expedite the drafting process. A report by PwC Singapore and PwC Cambodia emphasized Cambodia's growth potential and its appeal to foreign investors. The report also identified infrastructure investment opportunities and highlighted areas in need of development. PwC recommends a $28 billion investment in infrastructure to support economic growth until 2040. (Source: Khmer Times)
The Singaporean company Temasek Holdings Company intends to grow its operations in Cambodia During a meeting with Cambodian Prime Minister Dr. Hun Manet, Temasek Holdings Company Chairman Lim expressed the company's ambition to expand in the ASEAN region, including Cambodia. Lim commended Manet on his appointment as Prime Minister and recalled a previous meeting with Mr. Han Sen. Temasek focuses on finance, transportation, telecommunications, technology, advertising, and real estate. Lim aims to increase investment in Cambodia, particularly in the digital technology and renewable energy sectors. Manet welcomed Temasek Holdings to Cambodia, emphasizing the government's commitment to creating a supportive environment for sustainable investment across all sectors. Cambodia remains open to investors from all countries. Manet highlighted the significance of investing in Special Economic Zones and industrial parks, along with the introduction of new legal frameworks and norms to promote foreign investment. The Royal Government of Cambodia has implemented new legal frameworks and mechanisms to encourage foreign investment. (Source: Khmer Times)
Corporate News
The biggest travel retailer in France will oversee TIA's duty-free The Overseas Cambodian Investment Corporation (OCIC) Group has chosen a consortium led by Lagardère Travel Retail (LTR) and HSC Group for the management of duty-free services at Techo International Airport (TIA). A memorandum of understanding was signed during the 'French-Cambodian Business Forum' hosted by the Movement of the Enterprises of France (MEDEF) in Paris, involving Dr Lim Lina, Vice Chairwoman of Cambodia Airport Investment Co Ltd (CAIC), OCIC Group, Dag Rasmussen, Séverine Lanthier (Asia COO & Global Chief Strategy and Development Officer of LTR), and Sok Hong, Chairman & CEO of HSC Group. An investment of $1.5 billion is earmarked for the first phase of the airport's construction. The selection of LTR and HSC Group as the preferred bidders for the TIA duty-free concession marks the commencement of exclusive negotiations, set to begin in the coming weeks. The collaboration with LTR and OCIC aims to bring innovations to the customer experience for future passengers, positioning Cambodia as a key player in the Asian regional scene. TIA is scheduled to commence operations in 2025 and is expected to enhance Cambodia's global connectivity. (Source: Khmer Times)
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