Cambodia aims to lead in green energy manufacturing
| News Highlights |
Economy and Industry
Cambodia aims to lead in green energy manufacturing Cambodia is positioning itself to become a leader in green energy manufacturing, with a focus on developing renewable energy sources and sustainable production practices. The Ministry of Mines and Energy has outlined a comprehensive plan to increase the country's green energy capacity, including the expansion of solar, wind, and hydropower projects. The government is also promoting the adoption of green manufacturing technologies, such as energy-efficient machinery and eco-friendly materials, to reduce the environmental impact of industrial activities. To support these efforts, Cambodia is seeking partnerships with international organizations and private sector investors to secure funding and technical expertise. (Source: Khmer Times)
Informal business registrations exceed 11,000, MISTI reports The Ministry of Industry, Science, Technology, and Innovation (MISTI) has reported that the number of informal businesses registered in Cambodia has surpassed 11,000. This milestone reflects the government's ongoing efforts to formalize the informal sector and provide support to small and medium enterprises (SMEs). The registration process offers numerous benefits to informal businesses, including access to financial services, market opportunities, and government support programs. By formalizing their operations, businesses can also improve their compliance with regulations and enhance their credibility with customers and partners. The government has implemented various initiatives to encourage informal businesses to register, such as awareness campaigns, simplified registration procedures, and incentives for compliance. (Source: Khmer Times)
Government considers measures to strengthen auto industry The Cambodian government is exploring various measures to bolster the country's automotive sector, aiming to attract more investments and enhance the industry's competitiveness. During a recent meeting, the Ministry of Industry, Science, Technology, and Innovation (MISTI) discussed potential strategies to support the growth of the auto sector, including tax incentives, infrastructure development, and workforce training programs. The government is also considering the establishment of special economic zones (SEZs) dedicated to automotive manufacturing, which would provide a conducive environment for both local and foreign investors. Additionally, the ministry emphasized the importance of adopting advanced technologies and promoting research and development (R&D) to drive innovation within the industry. (Source: Khmer Times)
Corporate News
Cellcard and Nokia to upgrade residential fiber broadband network Cellcard, in collaboration with Nokia, is set to upgrade its residential fiber broadband network in Cambodia, aiming to provide faster and more reliable internet services to customers. The upgrade involves the deployment of Nokia's next-generation XGS-PON solution, which will enable multi-gigabit broadband access to homes and businesses across the country. This modernization effort will enhance the performance of Cellcard's network, allowing it to support high-speed, low-latency applications such as augmented reality (AR) and virtual reality (VR). The upgraded network will also improve the overall user experience by providing up to 10Gb/s internet speeds and increasing the network's reliability and scalability. (Source: Khmer Times)
Stock Market
CSX index inches up 0.09% amid mixed stock performance The CSX index rose by 0.09% to close at 409.8 points. On the main board, PEPC (+2.08%), GTI (+1.67%), MJQE (+0.48%), PPSP (+0.46%), and PWSA (+0.32%) led the gains, while PPAP (-0.57%) and PAS (-0.17%) posted losses. ABC and CGSM remained unchanged. On the growth board, JSL was unchanged, while DBDE gained 0.96%. The session recorded a total trading volume of 17,620 shares, with a turnover of KHR 110 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 409.81 | 0.09 | 17,620 | 10,992 |
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 | 6,280 | 0.32 | -0.32 | -1.26 | 6,320 | 6,240 | 29,050 | 546 |
| GTI | 6,100 | 1.67 | 14.23 | 20.08 | 6,100 | 5,300 | 61,139 | 244 |
| PPAP | 14,060 | -0.57 | 0.86 | 1.59 | 14,280 | 13,820 | 3,095 | 291 |
| PPSP | 2,170 | 0.46 | 0.46 | 0.00 | 2,170 | 2,130 | 22,637 | 156 |
| PAS | 11,820 | -0.17 | -0.67 | 2.25 | 11,900 | 11,640 | 4,336 | 1,014 |
| ABC | 7,200 | 0.00 | -1.37 | -4.51 | 7,340 | 7,160 | 192,762 | 3,119 |
| PEPC | 2,450 | 2.08 | 3.81 | 2.51 | 2,450 | 2,330 | 762 | 184 |
| MJQE | 2,090 | 0.48 | 0.48 | 0.48 | 2,090 | 2,080 | 32,069 | 677 |
| CGSM | 2,430 | 0.00 | -0.41 | 0.00 | 2,450 | 2,420 | 48,470 | 4,761 |
| DBDE | 2,100 | 0.96 | 2.44 | 1.94 | 2,100 | 2,050 | 3,410,878 | 39 |
| JSL | 3,060 | 0.00 | -0.33 | -10.53 | 3,210 | 3,020 | 2,293 | 79 |
| 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 | 3Q24 | 1,279 | 12,359 | 4.91 | 0.51 | 1.39 | 10.11 |
| GTI | 3Q24 | 91 | 7,114 | 67.40 | 0.86 | 0.71 | 17.89 |
| PPAP | 3Q24 | 2,406 | 21,877 | 5.84 | 0.64 | 1.80 | 3.69 |
| PPSP | 3Q24 | 267 | 3,759 | 8.11 | 0.58 | 2.39 | 4.64 |
| PAS | 3Q24 | 784 | 7,630 | 15.07 | 1.55 | 2.48 | 9.03 |
| ABC | 3Q24 | 1,041 | 13,404 | 6.92 | 0.54 | 0.89 | NA |
| PEPC* | 1Q25 | -1,009 | -17 | NA | -142.34 | 4.28 | NA |
| MJQE | 3Q24 | 41 | 290 | 50.54 | 7.20 | 4.19 | 14.55 |
| CGSM | 3Q24 | 137 | 603 | 17.73 | 4.03 | 6.66 | 14.43 |
| JSL | 3Q24 | 3 | 677 | 1123.90 | 4.52 | 3.38 | 25.92 |
| DBDE | 3Q24 | -340 | 1,510 | NA | 1.39 | 0.59 | NA |
| NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *FY ending in June, **excluding non-voting shares | |||||||
| 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 Bond | Floating* | 3,196 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,400 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 1,025 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,587 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed Bond | 5.50% Annually | 54 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,795 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating** | 1,042 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating*** | 2,869 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain Bond | 4.50% Annually | 557 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked Bond | Floating**** | 1,414 |
| *SOFR +3% or 5.5% per annum, whichever is higher; **SOFR+3,5% or 5% per annum (take which one is higher);***SOFR+3,5% or 5% per annum (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% per annum (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) | 204.1 | 312.0 | 85.3 | 10.0 | 0.0 |
| Outstanding (KHR'bn) | 34.0 | 312.0 | 85.3 | 10.0 | 0.0 |
| Issuance ('K units, Latest) | 24.0 | 20.0 | 0.0 | 0.0 | 0.0 |
| Coupon rate (Latest) | 2.80% | 4.00% | 3.80% | 4.75% | 5.25% |
| Successful yield (Latest) | 3.13% | 4.00% | - | - | - |
| Latest bidding | 23-Jan-25 | 29-May-24 | 11-Dec-24 | 45,581 | 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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