Applications for consumer loans increased by 5% in Q4 of last year

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CSX index gains 0.05% on February 5, 2024 On February 5, 2024, the CSX index concluded at 467.2 points, signaling a marginal 0.05% uptick from the preceding day. Noteworthy shifts were evident on the main board, featuring increases in PEPC (+1.40%), PPAP (+0.86%), MJQE (+0.48%), and PPSP (+0.47%). Conversely, PAS (-0.32%) experienced a decrease. PWSA, GTI, ABC, and CGSM maintained their opening prices. On the growth board, DBDE witnessed a decline of 0.47%, while JSL recorded an increase of 5.47%. The day's trading activity involved 72,627 shares, with a cumulative trading value reaching KHR 366 million. (Source: YSC Research)

Economy and Industry

Applications for consumer loans increased by 5% in Q4 of last year In the fourth quarter of 2023, there was a 5% surge in consumer loan applications in Cambodia compared to the third quarter, reaching a total of $15.01 billion. The aggregate number of consumer loan accounts hit 1.76 million, with 80% attributed to personal finance, 11.53% to mortgages, and 8.20% to credit cards. This increase in consumer loan accounts is the most substantial observed in the past five quarters, significantly surpassing the figures from Q3, 2023. The Consumer Credit Quality (CCQ) also rose by 5.14%, with personal finance displaying the lowest credit quality at 6.54%. The majority of consumer loans were disbursed through single accounts or relationships with financial institutions, while multiple accounts or relationships constituted 29.93% by the end of 2023. The Credit Bureau of Cambodia (CBC), a prominent provider of credit information, analytical solutions, and reporting services, plays a pivotal role in promoting enhanced financial stability. By offering precise, real-time data to consumers and the industry, CBC facilitates businesses in managing credit risk, preventing fraud, and streamlining decision-making processes. (Source: Khmer Times)

Cambodia's economic growth is estimated to be 5.3% in 2023, as per the IMF's projections Cambodia's economy is expected to have grown by 5.3% last year, driven by tourism and strong non-garment exports, according to the International Monetary Fund's executive board. However, risks include weaker-than-expected growth in the US and China, US monetary tightening, and high levels of private debt in Cambodia. The country's fiscal deficit widened last year due to COVID-19 pandemic-related social supports, increased spending, and incomplete infrastructure projects. Starting this year, the deficit is expected to narrow while retaining targeted fiscal support. Public debt to GDP is expected to increase moderately over the next decade, with a low risk of debt distress. Near-term threats include demand weakness from advanced-economy trade partners, a slowdown in recovery in China, high private debt, and tighter global financial conditions. Over the medium term, geopolitical tension, trade fragmentation, structural decline in China's growth, and climate change may pose challenges. (Source: Khmer Times)

The new Sihanoukville terminal by VINCI is set for completion by 2026 Cambodia Airports, the parent company overseeing the aviation infrastructure in Cambodia, is planning the construction of a new terminal at Sihanoukville International Airport (KOS) by the year 2026. This development aims to accommodate the potential influx of tourists to the coastal regions of the country. Having managed Cambodia's three international airports for over 25 years, VINCI Airports, under the umbrella of Cambodia Airports, has played a significant role, facilitating the transit of 10 million passengers in 2019. Currently, these airports stand as the largest in the country and operate under the management of Chinese-owned Yunnan Investment Holdings Limited through a public-private partnership agreement. Additionally, a cutting-edge international airport is under construction outside the capital, with its initial phase scheduled to open in 2025. In 2020, KOS completed a $58 million renovation of its runway, enhancing its capacity to accommodate wide-body and ultra-long-haul aircraft. This ongoing development underscores Cambodia's commitment to expanding and modernizing its aviation infrastructure to meet the evolving demands of the travel industry. (Source: The Phnom Penh Post)

Corporate News

Emart24 from Korea is set to enter the Cambodian market in June  Emart24, the South Korean convenience store giant, is set to make its debut in Cambodia this June as part of its ambitious global expansion strategy. With a robust plan in place, the company aims to establish 100 convenience stores across Cambodia within the next five years. The strategic move comes through a franchise agreement with Saihan Partners, a collaboration between Cambodian firm Saisons Brother Holding Co. and Korean property developer Hanlim Architecture Group. Emart24, an affiliate of the renowned Shinsegae Group known for operating department stores and large discount stores, is also eyeing a significant presence in Malaysia and Singapore, with plans to reach 300 outlets within the same timeframe. (Source: Khmer Times)

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