Cambodian parliament gives green light to 24 major electricity projects
| News Highlights |
Economy and Industry
Cambodian parliament gives green light to 24 major electricity projects The Cambodian Parliament has approved a draft law allowing payment guarantees to 24 electricity investment companies to boost the country's energy infrastructure. The law aims to prepare the country for an anticipated electricity shortage due to global restrictions on coal-fired power plants, which Cambodia committed to before 2019. The National Assembly's approval covers various projects aimed at expanding Cambodia's renewable energy capabilities. The collective investment is expected to secure more reliable energy sources for the Cambodian people and support the nation's commitment to sustainable energy development. The government's proactive approach demonstrates its commitment to addressing both current and future energy demands as Cambodia moves towards an electrified future. (Source: Khmer Times)
New airport to begin operations this September Techo International Airport in Cambodia will start operations in September 2025, with the official inauguration ceremony set for October 20. The change was made after an expert team found uncompleted work, leading to the rescheduling of the start date. The airport, located 20 kilometers south of Phnom Penh, is a 4F-Class facility with a capacity to handle over 15 million passengers annually. The Cambodian government holds 10% of the shares through the State Secretariat of Civil Aviation (SSCA), while the remaining 90% are held by the Overseas Cambodian Investment Corporation (OCIC). The 66-year-old Phnom Penh International Airport is not for sale, and the government will retain full legal ownership of the land and infrastructure. (Source: Khmer Times)
Visa plans to increase its support for Cambodia's SMEs and informal economy Cambodian Minister of Industry, Science, Technology & Innovation, Hem Vanndy, met with Visa Country Manager Lisa Sargent to discuss collaboration in SME development and support for the informal economy. Vanndy praised Visa's role in Cambodia, highlighting its contributions to entrepreneurship and local innovation. Sargent highlighted Visa's work with the Ministry of Tourism, National Bank of Cambodia, and Women's Affairs to empower women entrepreneurs. The meeting also explored how Visa could contribute to the government's efforts in developing the informal sector through digital literacy, inclusive financial solutions, and data-driven risk assessment. (Source: Khmer Times)
Corporate News
Global awards highlight Wing Bank's digital loan and savings achievements Wing Bank (Cambodia) Plc has won two prestigious Global Brand Magazine awards for its innovative financial solutions: Wing Digital Loan and Save for Goal. These awards highlight Wing Bank's leadership in enhancing access to financial services across Cambodia. Wing Digital Loan offers instant credit access for emergencies or opportunities, processing over 3.2 million applications as of the end of 2024. Save for Goal helps users grow their funds, starting with just USD 5, and earn up to 5% interest per annum. With over 26,000 users using the app, the initiative has made a significant impact, encouraging a culture of saving across Cambodia. These innovations reflect Wing Bank's ongoing mission to make financial services more inclusive and empowering, demonstrating that technology, when used purposefully, can transform lives and communities. (Source: Kiripost)
Stock Market
CSX inches up 0.02% as GTI and MJQE lead gains; JSL drops 6.81% On 26 May 2025, the CSX index rose by 0.02%, closing at 406.3 points. On the main board, GTI (+1.99%) and MJQE (+0.50%) led the gainers, while PEPC (-2.55%), PPSP (-0.46%), and PWSA (-0.32%) posted losses. PPAP, PAS, ABC, and CGSM remained unchanged. On the growth board, DBDE increased by 1.90%, while JSL declined by 6.81%. Total trading volume reached 35,619 shares, with a turnover of KHR 274 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 406.28 | 0.02 | 35,619 | 10,897 |
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 | 6,300 | -0.32 | -0.32 | -0.94 | 6,340 | 6,260 | 70,471 | 548 |
| GTI | 8,200 | 1.99 | 15.49 | 61.42 | 8,200 | 6,940 | 145,887 | 328 |
| PPAP | 13,400 | 0.00 | -4.83 | -3.18 | 14,200 | 13,400 | 49,421 | 277 |
| PPSP | 2,150 | -0.46 | 1.90 | -0.92 | 2,160 | 2,100 | 650,923 | 155 |
| PAS | 11,900 | 0.00 | -0.50 | 2.94 | 12,000 | 11,780 | 17,662 | 1,021 |
| ABC | 6,900 | 0.00 | -3.09 | -8.49 | 7,160 | 6,860 | 658,713 | 2,989 |
| PEPC | 2,670 | -2.55 | 1.91 | 11.72 | 2,810 | 2,550 | 3,232 | 200 |
| MJQE | 2,030 | 0.50 | -7.31 | -2.40 | 2,190 | 2,010 | 310,220 | 658 |
| CGSM | 2,410 | 0.00 | -0.41 | -0.82 | 2,420 | 2,400 | 83,168 | 4,722 |
| DBDE | 2,140 | 1.90 | 1.90 | 3.88 | 2,140 | 2,090 | 38,834 | 40 |
| JSL | 2,600 | -6.81 | -18.24 | -23.98 | 3,440 | 2,600 | 35,885 | 67 |
| 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 | 4Q24 | 978 | 11,199 | 6.44 | 0.56 | 1.72 | 13.22 |
| GTI | 4Q24 | 48 | 7,057 | 170.83 | 1.16 | 0.98 | 29.03 |
| PPAP | 4Q24 | 2,550 | 22,115 | 5.25 | 0.61 | 1.64 | 3.30 |
| PPSP | 4Q24 | 220 | 3,866 | 9.79 | 0.56 | 2.91 | 5.12 |
| PAS | 4Q24 | 1,478 | 8,224 | 8.05 | 1.45 | 2.22 | 7.96 |
| ABC | 4Q24 | 1,140 | 13,790 | 6.05 | 0.50 | 0.91 | NA |
| PEPC* | 1Q25 | -1,009 | -17 | NA | -155.12 | 4.67 | NA |
| MJQE | 4Q24 | 37 | 307 | 54.68 | 6.62 | 4.01 | 12.19 |
| CGSM | 4Q24 | 52 | 606 | 46.33 | 3.97 | 6.74 | 15.99 |
| JSL | 4Q24 | 14 | 685 | 185.68 | 3.79 | 3.72 | 17.32 |
| DBDE | 4Q24 | 23 | 1,840 | 93.62 | 1.16 | 0.55 | 8.43 |
| 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% | 2,433 |
| ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,475 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 3,095 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,299 |
| CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,746 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 924 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,486 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,694 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 941 |
| 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) | 2,768 |
| SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,420 |
| SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,420 |
| SNTD40C | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 3.00% | 5,420 |
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 5 Y | 10 Y | |
| Total issuance ('K units) | 238.1 | 312.0 | 175.3 | 10.0 | 0.0 |
| Outstanding (KHR'bn) | 58.0 | 240.0 | 175.3 | 10.0 | 0.0 |
| Issuance ('K units, Latest) | 34.0 | 0.0 | 90.0 | 0.0 | 0.0 |
| Coupon rate (Latest) | 2.70% | 3.20% | 3.50% | 4.75% | 5.25% |
| Successful yield (Latest) | 3.25% | - | 4.25% | - | - |
| Latest bidding | 23-Apr-25 | 21-May-25 | 19-Mar-25 | 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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