Trade between Cambodia and Indonesia to exceed $1.1 billion
| News Highlights |
Economy and Industry
Trade between Cambodia and Indonesia to exceed $1.1 billion Cambodia and Indonesia's economic cooperation continues to strengthen, with bilateral trade growing by 15% in 2023 and nearly $580 million recorded in the first half of 2024, projecting over $1.1 billion by year-end. At the "Sousdey Indonesia" exhibition in Phnom Penh, Indonesian Ambassador Santo Darmosumarto and Cambodian Minister of Commerce Cham Nimul celebrated the 65th anniversary of diplomatic relations and highlighted Indonesia's position as Cambodia's sixth-largest trading partner. The event, Cambodia's largest-ever Indonesian solo exhibition, featured 100 booths showcasing industries such as food, fashion, automotive, logistics, and education. Nimul encouraged continued collaboration, calling on the private sector to explore untapped markets, and announced the 17th Cambodian Import-Export Goods Exhibition in December. (Source: Khmer Times)
BCCC and KCCC pledge to boost trade and investment The Cambodian Chamber of Commerce (CCC) and the Korean Chamber of Commerce and Industry (KCCI) have agreed to boost trade and investment cooperation to attract more Korean investors to Cambodia. During a meeting in Seoul, co-chaired by CCC Vice-President Lim Heng and KCCI Vice-President Seong Woo Lee, both sides discussed future projects and business opportunities. They highlighted past successful collaborations, such as the Cambodia-Korea Business Forum held in May 2023, and the signing of a Memorandum of Understanding (MoU) aimed at strengthening cooperation in line with the Cambodia-Korea Free Trade Agreement, the Mekong-Korea Cooperation, and the Regional Comprehensive Economic Partnership (RCEP). Lim Heng emphasized the importance of the chambers as bridges between the business communities of both countries, especially given South Korea's significant investments in Cambodia, notably in banking, real estate, and construction. South Korea's foreign direct investment (FDI) in Cambodia reached $30 million last year, bringing the total FDI to $5 billion. KCCI plans to visit Cambodia for further engagement in early 2025. (Source: Khmer Times)
India steps in to empower Cambodia's digitalization drive India is playing a pivotal role in helping Cambodia advance its digital infrastructure as part of Cambodia's push for modernization under Prime Minister Hun Manet. India, a global leader in IT, is sharing its expertise with Cambodia in areas such as digital payments, fintech, education, and healthcare. Key collaborations include the potential adoption of India's Unified Payments Interface (UPI) to foster financial inclusion. India is also offering scholarships, training, and joint initiatives like IT parks to strengthen Cambodia's digital capacity. These efforts align with Cambodia's broader goals of enhancing governance and attracting international investment through digital transformation, complementing China's infrastructure investments. (Source: Khmer Times)
Corporate News
ABA sponsors the Cambodia Rice Forum 2024 to enhance growth in the industry ABA Bank proudly supported the Cambodia Rice Forum as a Gold Sponsor, aligning with its commitment to advancing the country's rice industry. The event, held on September 10, 2024, and presided over by Prime Minister Hun Manet, brought together key stakeholders to discuss the resilience, sustainability, and inclusiveness of Cambodia's rice supply chain. Panel discussions covered topics like competitiveness in rice cultivation, ESG compliance, sustainable financing, and food security. ABA Bank showcased its loan offerings designed to help businesses grow and emphasized its role in promoting sustainable agricultural practices and economic development in Cambodia. (Source: Cambodia Investment Review)
Stock Market
CSX index declines by 0.13% amid mixed performance on main and growth boards On September 16, 2024, the CSX index decreased by 0.13%, closing at 411.4 points. The main board saw gains in PEPC (+2.49%), PWSA (+0.90%), and PAS (+0.17%), while PPAP (-1.73%), GTI (-0.52%), and CGSM (-0.41%) declined. Meanwhile, PPSP, ABC, and MJQE remained unchanged. On the growth board, DBDE and JSL rose by 0.48% and 0.87%, respectively. The total trading volume was 74,015 shares, with a cumulative trading value of KHR 474 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 411.39 | -0.13 | 74,015 | 11,034 |
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 | 6,720 | 0.90 | -2.04 | -7.69 | 6,880 | 6,660 | 193,035 | 584 |
| GTI | 3,800 | -0.52 | 5.56 | 33.80 | 3,830 | 3,590 | 121,196 | 152 |
| PPAP | 13,660 | -1.73 | 0.44 | -2.43 | 14,300 | 13,360 | 2,441 | 283 |
| PPSP | 2,220 | 0.00 | -0.45 | 1.83 | 2,260 | 2,210 | 20,742 | 160 |
| PAS | 11,880 | 0.17 | -0.17 | -5.56 | 12,000 | 11,800 | 14,510 | 1,019 |
| ABC | 7,500 | 0.00 | 0.27 | -25.45 | 7,500 | 7,480 | 368,159 | 3,249 |
| PEPC | 2,470 | 2.49 | 0.82 | -9.85 | 2,500 | 2,400 | 14,793 | 185 |
| MJQE | 2,040 | 0.00 | 0.00 | -4.23 | 2,050 | 2,030 | 48,853 | 661 |
| CGSM | 2,420 | -0.41 | 0.00 | -7.98 | 2,430 | 2,400 | 30,475 | 4,741 |
| DBDE | 2,080 | 0.48 | 0.48 | -2.80 | 2,090 | 2,060 | 34,160 | 38 |
| JSL | 3,490 | 0.87 | 1.75 | -20.68 | 3,490 | 3,380 | 13,093 | 90 |
| 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 | 1Q24 | 1,298 | 16,580 | 5.18 | 0.41 | 1.53 | 9.83 |
| GTI | 2Q24 | 47 | 7,165 | 80.97 | 0.53 | 0.46 | 16.41 |
| PPAP | 2Q24 | 1,800 | 39,401 | 7.59 | 0.35 | 2.12 | 4.88 |
| PPSP | 2Q24 | 85 | 3,560 | 26.03 | 0.62 | 1.41 | 7.89 |
| PAS | 2Q24 | 1,132 | 11,977 | 10.49 | 0.99 | 2.63 | 6.67 |
| ABC | 2Q24 | 1,554 | 13,448 | 4.83 | 0.56 | 0.95 | NA |
| PEPC* | 4Q24 | -1,035 | 165 | NA | 14.92 | 4.36 | NA |
| MJQE | 2Q24 | 59 | 314 | 34.75 | 6.49 | 4.29 | 29.65 |
| CGSM | 2Q24 | 160 | 609 | 15.08 | 3.98 | 6.41 | 15.22 |
| JSL | 2Q24 | 1 | 669 | 4168.36 | 5.22 | 1.08 | NA |
| DBDE | 2Q24 | 80 | 1,932 | 25.98 | 1.08 | 0.56 | 8.83 |
| NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *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* | 3,347 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,551 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,176 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,738 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 205 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,946 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,193 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,020 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 708 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,565 |
| *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 | 5 Y | 10 Y | |
| Total issuance ('K units) | 180.1 | 312.0 | 65.3 | 10.0 | 0.0 |
| Outstanding (KHR'bn) | 52.0 | 312.0 | 65.3 | 10.0 | 0.0 |
| Issuance ('K units, Latest) | 10.0 | 20.0 | 43.3 | 10.0 | 0.0 |
| Coupon rate (Latest) | 3.50% | 4.00% | 4.50% | 5.00% | 5.25% |
| Successful yield (Latest) | 3.85% | 4.00% | 4.63% | 5.00% | - |
| Latest bidding | 24-Apr-24 | 29-May-24 | 26-Jun-24 | 45,497 | 45,525 |
| *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. | |||||
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