Sihanoukville's investment program gathers momentum from Chinese investors
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 410.39 | 0.51 | 399,166 | 11,007 |
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 | 7,000 | -1.69 | -3.58 | -3.85 | 7,240 | 7,000 | 71,209 | 609 |
| GTI | 2,250 | 0.00 | -17.28 | -20.77 | 2,720 | 2,180 | 73,346 | 90 |
| PPAP | 12,960 | 1.57 | -1.97 | -7.43 | 13,200 | 12,380 | 5,921 | 268 |
| PPSP | 2,050 | 0.49 | -0.97 | -5.96 | 2,080 | 2,040 | 112,929 | 147 |
| PAS | 12,420 | -0.16 | 0.32 | -1.27 | 12,480 | 12,140 | 13,938 | 1,065 |
| ABC | 7,600 | 0.53 | -21.33 | -24.45 | 9,620 | 7,440 | 1,884,869 | 3,292 |
| PEPC | 2,130 | -5.75 | -10.88 | -22.26 | 2,510 | 2,130 | 8,198 | 160 |
| MJQE | 2,200 | 5.26 | 6.28 | 3.29 | 2,200 | 2,060 | 416,509 | 713 |
| CGSM | 2,380 | 0.42 | -6.67 | -9.51 | 2,540 | 2,370 | 404,076 | 4,663 |
| DBDE | 2,090 | 0.48 | 0.00 | -2.34 | 2,130 | 2,080 | 40,567 | 39 |
| JSL | 3,750 | 1.90 | -5.30 | -14.77 | 3,950 | 3,670 | 2,209 | 96 |
| 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 | 5.98 | 0.46 | 1.66 | 8.72 |
| GTI | 2Q23 | 95 | 7,181 | 23.57 | 0.31 | 0.25 | 9.95 |
| PPAP* | 2Q23 | 2,412 | 38,041 | 5.37 | 0.34 | 1.91 | 4.69 |
| PPSP | 2Q23 | 489 | 3,576 | 4.19 | 0.57 | 0.64 | 3.71 |
| PAS* | 2Q23 | 1,191 | 11,029 | 10.43 | 1.13 | 3.21 | 8.15 |
| ABC | 2Q23 | 1,608 | 12,485 | 4.73 | 0.61 | 1.01 | NA |
| PEPC** | 2Q23 | -312 | 1,220 | NA | 1.75 | 2.01 | 30.76 |
| MJQE | 2Q23 | 29 | 289 | 76.36 | 7.60 | 5.80 | 18.24 |
| CGSM | 2Q23 | 98 | 392 | 24.39 | 6.07 | 5.98 | 14.41 |
| JSL | 2Q23 | -239 | 185 | NA | 20.22 | NA | NA |
| DBDE | 2Q23 | 76 | 1,919 | 27.62 | 1.09 | 0.51 | 11.43 |
| 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* | 3,486 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,690 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,315 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 344 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 3,085 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,332 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,159 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 847 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,704 |
| *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) | 170.1 | 292.0 | 22.0 | - | - |
| Outstanding (KHR'bn) | 0.0 | 0.0 | 0.0 | - | - |
| Issuance ('K units, Latest) | 22.0 | 140.0 | 6.0 | - | - |
| Coupon rate (Latest) | 3.50% | 4.50% | 4.50% | - | - |
| Successful yield (Latest) | 3.85% | 5.13% | 4.75% | - | - |
| Latest bidding | 24-Jan-24 | 20-Mar-24 | 20-Dec-23 | - | - |
| *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
CSX index rises 0.51% with mixed main board activities On April 30, 2024, the CSX index concluded trading at 410.4 points, marking a 0.51% increase from the previous day. Main board activity showed mixed results, with advances in MJQE (+5.26%), PPAP (+1.57%), ABC (+0.53%), PPSP (+0.49%), and CGSM (+0.42%), while PEPC (-5.75%), PWSA (-1.69%), and PAS (-0.16%) declined. GTI remained unchanged. On the growth board, DBDE and JSL were up 0.48% and 1.90%, respectively. The total trading volume reached 399,166 shares, with a cumulative trading value of KHR 1,295 million. (Source: YSC Research)
Economy and Industry
Sihanoukville's investment program gathers momentum from Chinese investors Sihanoukville's Governor, Kouch Chamroeun, reports that 18 private firms have applied to invest in frozen construction projects under Cambodia's 'Special Investment Promotion Program in Sihanoukville 2024'. The program, initiated in January, offers significant incentives for incoming developers to take over stalled projects or commence new construction projects, including countless tax and administrative fee exemptions, streamlined procedures to secure construction permits, concessions on inspection fees, and encouragement of out-of-court dispute resolution for investment-related disputes. With over 340 frozen projects, the program aims to revitalize Sihanoukville's real estate sector. Governor Chamroeun highlighted the province's promising future, backed by its status as a special economic zone, strategic geographical advantages, and infrastructure development. (Source: Khmer Times)
Cambodia prepares national policy for electric vehicle development Cambodia is on the brink of unveiling its 'National Policy on Electric Vehicle Development 2024-2030', signalling a monumental shift in transportation. Spearheaded by Prime Minister Hun Manet, the policy is poised to capitalize on technological advancements and accelerate EV adoption. Currently, with just 1,489 EVs traversing Cambodian roads, projections foresee a remarkable surge to over a million electric two and three-wheelers by 2030 and 100,000 electric cars by 2035. The policy lays the groundwork for a sustainable transition by incentivizing the development of charging station infrastructure and addressing crucial questions like battery disposal. By positioning Cambodia as a frontrunner in EV adoption, the policy not only fosters sustainable development but also underscores the nation's commitment to climate change mitigation, ultimately shaping a greener and more environmentally conscious future. (Source: Khmer Times)
UK and ASEAN launch economic integration program The ASEAN-UK Economic Integration Program (EIP) launched in Jakarta aims to bolster economic growth in ASEAN member states over four years, with a budget of up to 25 million pounds. It focuses on overcoming development barriers through regulatory reform, promoting open trade, and enhancing financial services. Emphasizing digitalization and support for micro, small, and medium-sized enterprises, the EIP targets all ASEAN member states and Timor-Leste. UK Ambassador Sarah Tiffin highlighted the UK's commitment to inclusive economic development, while Trade Commissioner Martin Kent emphasized cooperation for a cohesive regional economy, focusing on regulatory reform, open trade, and financial services. This collaborative effort underscores the UK's dedication to fostering a prosperous and inclusive ASEAN region. (Source: Khmer Times)
Corporate News
Several Airlines expand routes to boost Cambodia's tourism recovery As Cambodia's tourism sector rebounds with a notable increase in foreign arrivals, several airlines are expanding their networks to enhance connectivity to the Kingdom. Emirates Airlines will commence flights between Dubai and Phnom Penh on May 1, offering travellers more opportunities to explore diverse destinations. Meanwhile, Cambodia Angkor Air plans to launch direct flights between Phnom Penh and New Delhi, India, starting June 16, facilitating tourism and business ties between the two nations. Additionally, IndiGo Airlines has received approval to operate flights between New Delhi and Siem Reap, home to the UNESCO-listed Angkor Archaeological Park. These new routes are expected to attract more tourists to Cambodia, fostering its tourism recovery efforts amidst increased connectivity. In 1Q24, Cambodia attracted 1.58 million international tourists, representing a 22.5% increase from the year prior. (Source: Khmer Times)
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