MDIs predominate the microfinance market in Cambodia

Market Update / May 23, 2023

CSX Stocks

CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
468.31 -0.14 143,606 7,103

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 7,760 -0.51 -0.51 2.65 7,800 7,680 48,324 675
GTI 3,300 -0.90 -1.49 -13.16 3,360 3,250 22,796 132
PPAP 14,800 -0.13 0.00 5.71 15,200 14,280 10,042 306
PPSP 2,370 0.42 -1.25 -0.84 2,400 2,360 69,226 170
PAS 13,460 1.05 -1.03 1.05 13,700 13,120 24,821 1,154
ABC 10,240 -0.39 -10.18 -5.36 11,520 10,240 1,662,175 4,436
PEPC 3,060 0.00 -0.65 -2.86 3,100 3,050 3,731 229
DBDE 2,330 -0.43 -1.27 -2.51 2,370 2,320 64,506 43
JSL 4,420 8.87 -0.90 -10.89 4,580 4,060 7,595 114
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 6.25 0.79 1.95 8.43
GTI 3Q22 178 7,138 18.57 0.46 0.29 65.06
PPAP 3Q22 2,897 18,416 5.11 0.80 2.07 5.60
PPSP 3Q22 328 3,576 7.21 0.66 0.98 16.55
PAS 3Q22 1,568 5,986 8.58 2.25 3.26 14.55
ABC 3Q22 1,702 12,067 6.02 0.85 1.52 NA
PEPC** 2Q22 33 1,468 92.85 2.08 1.06 25.63
DBDE 3Q22 -123 1,426 NA 1.63 0.70 2.53
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 down 0.14% to 468.3 points On May 23, 2023, the CSX index dropped 0.14% to 468.3 points. The comparable percentage increases for PPSP and PAS were 0.42% and 1.05%. However, the share prices of PWSA, GTI, PPAP, and ABC, were down 0.51%, 0.90%, 0.13%, and 0.39%, respectively. PEPC are the main board stock to remain unchanged. On the growth board, DBDE decreased by 0.43% while JSL gained an astonishing 8.87%. A total of 143,606 shares were traded for KHR1,455 million, a decrease of 27.4% over the volume on the previous closing day. (Source: YSC Research)

Economy and Industry

MDIs predominate the microfinance market in Cambodia According to the most recent banking supervision report published by the National Bank of Cambodia (NBC), four of the five microfinance deposit-taking institutions (MDIs) including Prasac, AMK, LOCL, Amret, and Mohanokor have dominated the microfinance market in Cambodia with their largest shares of total assets, market share, profits, deposits, and loans among the 87 microfinance institutions (MFIs) in the country last year. According to report, the five MDIs have accounted for 56.8% of the microfinance market share in Cambodia, with a combined paid-up capital of about $580 million. In additition, they generated a total $298 million in net profit, which represented nearly 92% of the aggregate net profit generated by all 87 MFIs in 2022. (Source: Khmer Times)

Singapore and India, the top Cambodia exporter in the first four month of 2023 According to the General Department of Customs and Excise (GDCE), Singapore and India have made significant gains over the past four months to become two of Cambodia's top export destinations. From January to April of this year, Cambodia's exports to Singapore increased by almost 345% YoY, whilst the exports to India increased by more than 60% YoY. In the first four months of the year, exports to Singapore totaled $224 million, up from $50 million in the corresponding time last year. Exports to India totaled $91.5 million, up from $55.7 million the previous year. Pearls, precious stones, metals, rubber products, clothing, electrical and electronic equipment, and footwear are among Cambodia's exports to Singapore. Items exported to India include clothing, travel accessories, footwear, rubber and metals. (Source: Khmer Times)

Corporate News

7,500 square meter data center in Cambodia has opened The data center targets a PUE of 1.8 or below across its whole built-up floor space of 81,040 sq ft and has an IT capacity of up to 3MW. The Tier III Uptime Design Certification has been given to the data center. ByteDC claims that it is the first company in the country to do so. The data center will be a component of Phnom Penh City Center's (PPCC) ongoing "Global Tech Exchange" smart city development project. G-Tech will include a conference center, a Hilton Hotel, an office tower dedicated to the financial business, another to the IT/Media industry, as well as an urban data center. Phnom Penh, the capital of Cambodia, is now home to five colocation data centers, not including the ByteDC facility, according to Data Center Map. (Source: Khmer Times)

First-quarter sales increases 1.2% for DBDE In the first quarter of the fiscal year 2023, DBD Engineering Plc (DBDE) declared a profit after tax of 2.09 billion riels, up from 1.55 billion riels in the corresponding quarter previous year. Design, construction, installation, and maintenance services provider stated in a filing to CSX that its revenue for the quarter climbed by 1.2% to 16.38 billion riels from 16.17 billion riels for the same period the year prior. The Covid-19 outbreak, a real estate market correction following a protracted real estate boom, increased credit provided to the construction/real estate/mortgage sector, which recently relies heavily on Chinese investment, and high outstanding credit were some of the weaknesses the company highlighted in the current industry. (Source: Khmer Times)

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