Market Update

19th January 2023

NBC announces new mechanisms and conditions for purchasing NCD

CSX Stocks

CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
488.03 0.09 32,605 7,402

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 7,740 0.52 2.38 2.38 7,780 7,480 63,843 673
GTI 3,690 0.27 -2.89 -2.89 3,800 3,600 31,695 148
PPAP 14,360 -0.14 2.57 2.57 14,500 13,980 19,944 297
PPSP 2,410 0.42 0.84 0.84 2,410 2,360 125,422 173
PAS 13,740 0.15 3.15 3.15 13,760 13,240 23,998 1,179
ABC 10,840 0.00 0.18 0.18 10,860 10,700 639,390 4,695
PEPC 3,160 0.32 0.32 0.32 3,190 3,140 4,242 237
DBDE 2,400 -0.41 0.42 0.42 2,430 2,370 46,590 44
JSL 4,840 0.83 -2.42 -2.42 4,960 4,800 12,426 124
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

  ttm,mrq (ttm,KHR) KHR (ttm,x) (mrq,x) (ttm,x) (ttm,x)
PPWSA 3Q22 1,242 9,852 6.23 0.79 1.94 8.42
GTI 3Q22 178 7,138 20.76 0.52 0.32 71.35
PPAP 3Q22 2,897 18,416 4.96 0.78 2.00 5.47
PPSP 3Q22 328 3,576 7.34 0.67 1.00 16.75
PAS 3Q22 1,568 5,986 8.76 2.30 3.33 14.79
ABC 3Q22 1,702 12,067 6.37 0.90 1.61 NA
PEPC** 2Q22 33 1,468 95.88 2.15 1.09 26.03
DBDE 3Q22 -123 1,426 NA 1.68 0.72 2.60
NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *Excluding equity of non-common shares for PPWSA, PPAP and PAS; **FY ending in June

News Highlights

Stock Market

CSX Index rallies after dropping for three days On Jan 19, 2023, the CSX index rallied for the first time in four days, rising 0.09% to 488.0pts. PPWSA, GTI, PPSP, PAS, and PEPC stocks were gainers on the main board, edging up slightly. Only the heavyweight ABC shares were unchanged at KHR10,840. On the growth board, DBDE shares edged down 0.41% to KHR2,400, while JSL shares rose 0.83% to KHR4,840. (Source: YSC Research)

Economy and Industry

Govt aims to raise $200mn from issuing sovereign bonds in 2023 The Ministry of Economy and Finance plans to issue several tranches of sovereign bonds in 2023, with the first scheduled at an undisclosed date later this month. The National Bank of Cambodia (NBC) and Cambodia Securities Exchange (CSX) have been selected as issuing agencies for the debt security, the MEF said in a statement. The statement said the bond will be available in 1, 2, 3, 5, 10, 15-year terms with new issuances every four weeks. Ministry's spokesman Meas Soksensan said the new $200mn offering is independent of last year's $300mn target issuance. (Source: Phnom Penh Post)

NBC announces new mechanisms and conditions for purchasing NCD The National Bank of Cambodia has announced the change in the mechanisms and conditions of purchasing Negotiable Certificate of Deposits (NCD) to provide banks and microfinance institutions (MFIs) with more benefits, said bankers. According to Sok Voeun, Chairman of Cambodia Microfinance Association (CMA), the current mechanisms and conditions pre-defines the interest rate for buyers to make decisions and consideration for bidding, while the revised ones will be determined by the market demand and supply. He said the new NCD purchase mechanisms and conditions will better fit with the market condition and better operational control of the process as the interest rate will come from the demand and supply itself, which enables the NBC to understand well the market interest rate on this financial instrument. The NBC announced that it is going to run an auction once every two weeks for all types of NCDs instead of posting or announcing NCDs every week and the new method will be valid for NCDs issued in Khmer riel and US dollar for all maturities from February 1, 2023, onward. (Source: Khmer Times)

Corporate News

Royal Group signs MOA with SSCA to develop intl' airport on Koh Rong island Royal Group Koh Rong Development Co Ltd has signed a memorandum of agreement (MOA) with State Secretariat of Civil Aviation (SSCA) to move ahead with plans for a 4C-class international airport on Preah Sihanouk province's Koh Rong island that is expected to be completed in the next five years. The MOA formalizes acceptance of the Koh Rong International Eco-Tourism Airport Master Plan and sets out obligations for construction of the facility and associated infrastructure--budgeted for $300mn--involving implementation and orientation, communication, inspection, monitoring, consulting and other forms of communication. SSCA chief Mao Havannall recapped that the government in 2008 granted to the company a "perpetual leasehold" over Koh Rong and "permission in principle" to develop multi-purpose projects on the island. Havannall added that the company has the right to develop physical and supporting infrastructure on the leased premises in accordance with the Koh Rong Development Master Plan. (Source: Phnom Penh Post)

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19th January 2023

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