Cambodia's foreign trade grows 16% in early 2025
News Highlights |
Economy and Industry
Cambodia's foreign trade grows 16% in early 2025 Cambodia's international trade witnessed a commendable 16% growth to $9.44 billion during the first two months of 2025, showcasing the country's increasing economic dynamism. This substantial increase is attributed to the higher volume of exports and imports, driven primarily by key industries such as agriculture, textiles, and manufacturing. The agricultural sector has marginally contributed to export growth from its slow growth. The garment and textile sector, a long-standing pillar of Cambodia's export economy, also remained a crucial contributor to this expansion. On the import front, the country saw a rise in machinery, electronics, and raw materials, essential for bolstering its domestic production. (Source: Khmer Times)
Cambodia accounted zero debt with China in 2024 Cambodia's public debt reached $12.3 billion in 2024, with 99% being external. South Korea emerged as the top bilateral creditor, lending $264.3 million, an 11% increase from 2023. Japan followed, providing $237.9 million, a 5% decline, while France ranked third at $205.1 million, a 14.5% drop. Notably, China, the top creditor in 2023 with $302.4 million, provided no loans in 2024. Multilateral partners saw shifts, with the World Bank lending $631.9 million, a 26% rise, and the Asian Development Bank (ADB) increasing its support by 204% to $388.6 million. Conversely, the Asian Infrastructure Investment Bank (AIIB) and IFAD reduced their contributions to zero and $5 million, respectively. These trends highlight evolving partnerships and shifting financial dependencies. (Source: Khmer Times)
Singapore welcomes Cambodian workers through new labor framework In a significant move, Singapore has included Cambodia in its list of countries eligible for labor recruitment under the Non-Traditional Sources (NTS) program. This inclusion provides Cambodian workers with opportunities to access employment in various sectors within Singapore, including construction, manufacturing, and domestic services. The decision is expected to bring mutual benefits, addressing Singapore's labor shortages while offering Cambodian citizens improved livelihoods through overseas work. For Cambodia, this initiative presents a valuable avenue for labor force development, enabling workers to gain new skills and experiences in an international environment. The remittances sent back by overseas workers could also contribute significantly to Cambodia's economy, supporting families and communities across the country. (Source: Khmer Times)
Corporate News
Sathapana Bank hosts event to connect clients with investment opportunities Sathapana Bank recently organized an exclusive event aimed at connecting its clients with premier investment and legal resources, demonstrating its commitment to empowering customers in their financial journeys. The event featured a series of expert-led discussions on wealth management, diverse investment opportunities, and comprehensive legal frameworks, providing attendees with a well-rounded understanding of the tools available to secure and grow their assets. The event also offered an opportunity for participants to network with industry leaders, financial advisors, and legal professionals, fostering relationships that could lead to significant investment ventures. (Source: Cambodian Investment Review)
Stock Market
CSX index edges up 0.04% as PPSP and ABC gain The CSX index rose by 0.04%, closing at 413.5 points. On the main board, PPSP (+0.93%) and ABC (+0.27%) posted gains, while MJQE (-0.47%), PWSA (-0.32%), and PPAP (-0.14%) recorded losses. GTI, PAS, PEPC, and CGSM remained unchanged. On the growth board, both DBDE and JSL also remained unchanged. The session recorded a total trading volume of 45,905 shares, with a turnover of KHR 318 million. (Source: YSC Research)
CSX Stocks |
CSX Index
Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
413.46 | 0.04 | 45,905 | 11,090 |
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 | 6,320 | -0.32 | 0.64 | -0.63 | 6,360 | 6,240 | 46,487 | 550 |
GTI | 6,020 | 0.00 | -0.33 | 18.50 | 6,140 | 6,000 | 37,633 | 241 |
PPAP | 14,060 | -0.14 | -4.48 | 1.59 | 14,880 | 14,020 | 9,879 | 291 |
PPSP | 2,180 | 0.93 | 1.40 | 0.46 | 2,180 | 2,150 | 13,288 | 157 |
PAS | 11,800 | 0.00 | -0.34 | 2.08 | 11,900 | 11,640 | 3,802 | 1,012 |
ABC | 7,340 | 0.27 | 0.00 | -2.65 | 7,400 | 7,180 | 202,485 | 3,179 |
PEPC | 2,610 | 0.00 | 7.41 | 9.21 | 2,640 | 2,400 | 4,148 | 196 |
MJQE | 2,110 | -0.47 | 0.00 | 1.44 | 2,120 | 2,080 | 32,737 | 684 |
CGSM | 2,440 | 0.00 | 0.00 | 0.41 | 2,440 | 2,420 | 32,182 | 4,781 |
DBDE | 2,100 | -0.47 | 0.48 | 1.94 | 2,110 | 2,060 | 10,602 | 39 |
JSL | 3,060 | 0.33 | 0.33 | -10.53 | 3,080 | 3,040 | 2,470 | 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 | 4.94 | 0.51 | 1.40 | 10.13 |
GTI | 4Q24 | 48 | 7,057 | 125.42 | 0.85 | 0.72 | 22.95 |
PPAP | 4Q24 | 2,550 | 22,115 | 5.51 | 0.64 | 1.72 | 3.46 |
PPSP | 4Q24 | 220 | 3,866 | 9.92 | 0.56 | 2.95 | 5.19 |
PAS | 4Q24 | 1,478 | 8,224 | 7.99 | 1.43 | 2.20 | 7.91 |
ABC | 4Q24 | 1,140 | 13,790 | 6.44 | 0.53 | 0.97 | NA |
PEPC* | 1Q25 | -1,009 | -17 | NA | -151.63 | 4.56 | NA |
MJQE | 4Q24 | 37 | 307 | 56.84 | 6.88 | 4.17 | 12.65 |
CGSM | 4Q24 | 52 | 606 | 46.91 | 4.02 | 6.82 | 16.17 |
JSL | 4Q24 | 14 | 685 | 218.54 | 4.46 | 4.37 | 18.99 |
DBDE | 4Q24 | 23 | 1,840 | 91.87 | 1.14 | 0.54 | 8.29 |
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 |
ABC32A | 0 | 0.0 | - - | khAA | Subordinated Bond | 8.50% | 2,509 |
CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 3,171 |
CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,375 |
GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 1,000 |
PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,562 |
RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed Bond | 5.50% Annually | 29 |
RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,770 |
RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 1,017 |
RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 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) | 2,844 |
TCT26A | 0 | 0.0 | - - | N/A | Plain Bond | 4.50% Annually | 532 |
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 | 240.0 | 85.3 | 10.0 | 0.0 |
Issuance ('K units, Latest) | 24.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Coupon rate (Latest) | 2.80% | 3.20% | 3.80% | 4.75% | 5.25% |
Successful yield (Latest) | 3.13% | - | - | - | |
Latest bidding | 23-Jan-25 | 19-Feb-25 | 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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