Market Update

ADB approves $70 mln loan to Cambodia for education reforms

The Manila-based Asian Development Bank (ADB) has approved a $70-million loan to Cambodia to support government efforts to deepen reforms in upper secondary science, technology, engineering, and mathematics (STEM) education across the country, the lender said in a press statement on Monday...

10th November 2022

See More

Economy & Industry

RCEP strengthens global value chains, says PM

Lauding the Regional Comprehensive Economic Partnership (RCEP), Cambodian Prime Minister Hun Sen said it has strengthened the global value chains and protected the multilateral free trade system...

03rd November 2022

See More

Market Update

Royal Railway lists its $10 million bonds

The Cambodia Securities Exchange (CSX) yesterday announced the official listing of the $10 million bonds of Royal Railway Plc, a subsidiary of Royal Group. Hean Sahib, Secretary of State of the Ministry of Economy and Finance (MEF), who is also CSX's chairman, said Royal Railway is the eighth issuer of corporate bonds on the stock exchange to raise $10 million from institutional and individual investors. The fund will be used to develop the railway infrastructure for providing transportation of goods in Cambodia. Kit Meng, owner of Royal Group, said Royal Railway has invested over $100 million and developed the railway to its current condition since it started operating again in 2010. It operates passenger and freight trains seven days a week on both lines between Phnom Penh and Poi Pet and Sihanoukville. Kim Sophanita, director of CSX's market operations department, said that the Royal Railway bond is very attractive for investors as the seven percent coupon rate is high and unsecured and unsubordinated, which means the bond was issued without the necessity of having guarantee and the bondholders are prioritised for debt payment. (Source: Khmer Times)

01st November 2022

See More

Economy & Industry

IMF sees inflation having similar impacts on poverty in Cambodia and Vietnam

The International Monetary Fund (IMF) expects higher food and energy prices to have similar impacts on relative poverty in Cambodia and Vietnam. In its outlook for Asia and the Pacific released in Singapore last week, the IMF also said that the consequences for vulnerable Cambodian and Vietnamese households were likely to be about five times greater than those in China.

31st October 2022

See More

Market Update

Cambodia continues to move ahead on green power path

CSX Stocks

CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
469.8 0.01 129,423 7,125

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 7,400 -0.27 -0.54 3.35 7,460 7,280 47,010 644
GTI 3,890 -0.77 1.30 -7.82 3,940 3,800 43,293 156
PPAP 13,980 -0.14 -2.92 -4.90 14,420 13,980 10,172 289
PPSP 2,300 -0.86 -2.13 11.11 2,350 2,290 88,779 165
PAS 12,980 -0.15 -0.15 -2.55 13,000 12,800 21,748 1,113
ABC 10,440 0.19 1.36 -0.76 10,440 10,200 1,663,215 4,522
PEPC 3,150 -0.63 -1.25 0.00 3,190 3,100 7,427 236
DBDE 2,390 0.42 1.27 3.46 2,390 2,370 42,158 44
JSL 5,320 -9.83 44.96 NA 5,900 3,760 49,841 137
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 2021U 1,486 8,930 4.98 0.83 1.74 6.12
GTI 2021U 29 6,987 133.13 0.56 0.30 37.29
PPAP 2021U 2,499 15,972 5.59 0.88 2.31 3.62
PPSP 2021U 112 3,451 20.60 0.67 1.40 8.29
PAS 2021U 1,093 4,889 11.88 2.65 3.25 12.28
ABC 2,021 1,565 11,277 6.67 0.93 2.41 NA
PEPC** 2021U 183 1,349 17.18 2.33 0.80 15.81
DBDE 2021U 86 1,993 27.91 1.20 0.60 10.48
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 market index post weekly gain of 0.43%  On Oct 28, 2022, the CSX market index edged up 0.01% from 469.75pts to 469.8pts. There was only a stock gained in each board today. On mainboard, ABC share gained 0.19% from KHR10,420 to KHR10,440. On growthboard, DBDE shares rose 0.42% from KHR2,380 to KHR2,390. Meanwhile, PWSA, GTI, PPAP, PPSP, PAS, PEPC, JSL shares dopped 0.27%, 0.77%, 0.14%, -0.86%, 0.15%, 0.63%, 9.83% respectively. While most stock saw a drop today, the CSX index gained as thanks to ABC's large market capitalization. JSL shares plunged 9.83%, although it has gained 45% so far this month. This week, CSX market posted a weekly gain of 0.43%, with 486,283 shares changing hands. (Source: Yuanta Securities)

Economy and Industry

Cambodia-UAE first round of CEPA talks completed Cambodia and United Arab Emirates on Wednesday completed the first round of the negotiations on the Cambodia-UAE Comprehensive Economic Partnership Agreement (CAM-UAE CEPA) in Abu Dhabi City, according to a release by the Ministry of Commerce (MOC). The meeting, held from October 24 to 26, was co-chaired by the Secretary of State of MoC Tekreth Kamrang and Juma Mohammed Al Kait, Assistant Undersecretary Foreign Trade Affairs of UAE. Cambodia and UAE started the CEPA negotiations on Monday this week, aiming to expand trade networks and promote investment opportunities between the two countries. Minister of Commerce Pan Sorasak and UAE's Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi attended the kick-off ceremony in Abu Dhabi. A Cambodia Chamber of Commerce (CCC) delegation led by its president Kith Meng was also in Abu Dhabi to attend the ceremony, the Kingdom's apex trade body said in a statement. Meng urged UAE investors to visit the Kingdom and explore the possibility of collaborating on projects. The government has launched a plan to revive the economy in the wake of the Covid-19 crisis and this will help the country to return to the annual growth of seven percent soon. Seang Thai, secretary of state of MOC, said recently that the CEPA is more comprehensive than free trade agreements (FTAs) as it covers some sectors such as investment, services, trade facilitation, customs cooperation, competition, property rights, etc. About 65 officials from different ministries and institutions attended the meeting. (Source: Khmer Times)

Cambodia continues to move ahead on green power path Cambodia is at crossroads on many fronts, starting with its graduation from the least developed country (LDC) status to post-pandemic economic recovery, according to the latest UNDP research. The country has drafted the Power Development Plan (2021??0) to respond to the anticipated power demand. It was based on the principles of affordability of electricity supply by embracing least cost generation mix and reliability with adequate generation and transmission. As ASEAN countries are looking for energy security through greater use of domestic resources, countries such as Cambodia are increasing external sources, including the import of electricity from neighboring countries. The government could work out a plan even to shift investment from coal towards renewable and avoid externality costs and potentially stranded assets. It would push Cambodia to become an investment destination as investing in renewable energy can be supported as a qualified investment project under the new investment law and attract producers with clean energy goals. Yet Cambodia has an opportunity to go beyond its renewable energy strategies and benefit from its unique location between the two leading Greater Mekong sub-region economies and position itself as a leader in green business, the report said. It would enable the Cambodian industry to better integrate into fast, modern, sustainable regional supply chains. (Source: Khmer Times)

Second expressway loan deal likely to be signed in November Cambodia and China are likely to sign concessional loans for a number of infrastructure projects, including the expressway connecting Phnom Penh and Bavet city in Svay Rieng province, in November this year. The concessional loan for the Phnom Penh-Bavet expressway will be signed during an official visit of Chinese Prime Minister Li Keqiang to Cambodia, said Sun Chanthol, Minister of Public Works and Transport. Concessional investment agreement on the project is being finalised, he said in a press conference at the Government Spokesman's Unit yesterday. The Inter-Ministerial Commission and China Bridge and Road Corporation (CRBC) on October 24, 2022, agreed on a framework agreement to build the Phnom Penh-Bavet Expressway. The ministry and the CRBC, which built the first Phnom Penh-Sihanoukville expressway, have recently signed a memorandum of understanding on the project. The ministry stated recently that the framework agreement on the Phnom Penh-Bavet expressway project is scheduled to be inked in November and the concession investment agreement before the end of this year. Sun Chanthol said yesterday that the break ground ceremony of the second expressway construction would take place in June next year. Stretching an estimated 135 km, the Phnom Penh-Bavet Expressway is designed to boost connectivity with Vietnam and spur economic ties between the two border provinces, with a special focus on export growth. Starting from the capital's third ring road, the expressway will pass through Kandal, Prey Veng and Svay Rieng provinces, ending at Bavet town on the Cambodian-Vietnamese border.(Source: Khmer Times)

Corporate News

China company plans EV assembly plant in Cambodia China Matrix Technology Group-Horche Intelligent Automobile plans to set up a unit to assemble electric vehicles in Koh Kong province, as per a virtual meeting on October 22. According to Mishna Phuthong, Governor of Koh Kong Province, in 2021, the province had 7 large-scale industries with 10,843 workers. It included car assembly, wiring, electronics, sports equipment, and textiles and garment units. The Cambodian Government is encouraging investment in EV assembling plants. The new unit has the potential to create more green jobs and investments and help position Cambodia in the emerging global and regional supply chain for EVs. (Source: Khmer Times)

28th October 2022

See More

Market Update

Securities regulator plans to establish property fund stock

The Securities and Exchange Regulator of Cambodia (SERC) plans to establish a property fund stock exchange for companies to raise cash from the public. The SERC will transform the trading of real estate products into stocks and changing...

26th October 2022

See More

Coporate News

China company plans EV assembly plant in Cambodia

China Matrix Technology Group-Horche Intelligent Automobile plans to set up a unit to assemble electric vehicles in Koh Kong province, as per a virtual meeting on October 22. According to Mishna Phuthong, Governor of Koh Kong Province, in...

25th October 2022

See More

Economy & Industry

Ministry of Economy reviewing draft new tax law

The Ministry of Economy and Finance is reviewing the draft new tax law with the Ministry of Justice, articles about the criminal code and clauses that go along with other relevant laws, a senior official said. The General Department of Taxation (GDT) has completed the draft ...

24th October 2022

See More

Economy & Industry

Cambodia eyes sustainable finance instruments

Training on sustainable finance instruments and thematic bond issuance will be held in Phnom Penh by the end of this month. ESCAP is partnered with the Luxembourg Green Exchange (LGX) and LGX Academy...

19th October 2022

See More

Economy & Industry

Cambodia gets $171M in climate finance from MDBs

Cambodia received $171 million in climate finance from major multilateral development banks (MDBs) in 2021, according to the 2021 Joint Report on Multilateral Development Banks' Climate Finance. Cambodia, classified as a lower...

18th October 2022

See More
© Copyright 2022 Yuanta Securities (Cambodia) Plc. All Right Reserved