Government allocates $100 million for agricultural interventions

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Mixed activity on main board and growth board On April 12, 2024, the CSX index wrapped up the trading session at 435.2 points, signaling a slight decline of 0.09% compared to the previous day's close. Market activity on the main board showed a mixed picture, with notable advances in PPSP (+1.46%) and GTI (+0.43%). Conversely, PPAP (-0.47%), PAS (-0.33%), and ABC (-0.23%) declined. PWSA, PEPC, MJQE, and CGSM ended the day unchanged from their opening prices. On the growth board, DBDE held steady, while JSL posted a solid uptick of 1.34%. Total trading volume for the day amounted to 39,981 shares, with a cumulative trading value reaching KHR 226 million. (Source: YSC Research)

Economy and Industry

Government allocates $100 million for agricultural interventions The Royal Government of Cambodia has allocated $100 million for agriculture interventions aimed at ensuring the stability of agricultural prices in response to fluctuations in the world market. This reserved budget was disclosed by PM Hun Manet during the inauguration ceremony of Kirisu Dairy Farm in Takeo province. The PM emphasized the importance of stabilizing agricultural prices, recognizing the challenges faced by farmers due to price fluctuations. In addition, the PM expressed gratitude to Khmer Fresh Milk and other companies for their investments in fresh milk production to meet the demand in the Cambodian market. Currently, Cambodia has four dairy farms with nearly 1,200 dairy cattle, producing a total of 13,000 litres of fresh milk per day. Despite this production, the country still imports a significant amount of fresh milk annually, totalling approximately 98,000 tons, worth roughly $734 million. (Source: Khmer Times)

Minister Hem Vanndy leads groundbreaking ceremony for water supply expansion Minister of Industry, Science, Technology, and Innovation, Hem Vanndy, led the groundbreaking ceremony for Svay Rieng province's water supply system expansion, valued at $30 million and capable of supplying 6,800 cubic meters of clean water daily. Japanese Ambassador to Cambodia, Ueno Atsushi, noted that the project was funded by a substantial grant from Japan and highlighted the long-standing cooperation between the countries. Furthermore, he hopes that this project will contribute to enhance living standards and drive socio-economic progress in the region. Meanwhile, Governor Peng Pursa of Svay Rieng Province expressed his gratitude for Japan's ongoing support, especially in their efforts in poverty reduction and socio-economic development. Within two years of the construction completion, all Svay Rieng residents are projected to have access to clean water. (Source: Khmer Times)

Women clients tend to save 9% more than men According to a study by the Cambodian Microfinance Association (CMA) and M-CRIL, women clients of microfinance institutions (MFIs) tend to save 9% more, on average, compared to men. While women prefer to keep their savings at home, men typically opt for banks or MFIs. This saving pattern is observed not only in Cambodia but also around the world. Women's higher financial discipline results in better loan management and lower default rates compared to men. However, this could also be due to factors like loan size and economic downturns. The study highlights a gender disparity in financial knowledge as the study found that women were less likely than men to know the interest rates for all active loan. In terms of processing fees, less than 20% of male borrowers and only 14% of women borrowers knew the cost of their respective processing fee. Therefore, the National Bank of Cambodia has taken significant strides in recent years to improve overall financial literacy. (Source: Khmer Times)

Corporate News

PPWSA partners with Vinci Construction for construction of new water treatment plant Phnom Penh Water Authority (PPWSA) and Vinci Construction Grands Projects (VCGP) have inked a $103.3 million contract for the design and construction of Bakheng's third drinking water treatment plant. Once completed, the project will stand as the largest water treatment facility operated by PPWSA, and is anticipated to help meet the growing water demand of Phnom Penh residents. Funded by French Development Agency (AFD) and the Cambodian government, the project aims to ensure universal access to safe drinking water. With construction scheduled to begin in 2024 and completion by 2027, the project signified a significant step towards sustainable water infrastructure in Cambodia. (Source: Khmer Times)

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