Cambodia records over $25 billion in trade within five-month period

/ June 11, 2025


News Highlights

Economy and Industry

Cambodia records over $25 billion in trade within five-month period Cambodia's international trade volume reached over $25 billion in the first five months of this year, according to a report by the General Department of Customs and Excise. The volume rose by 18.5% to $25.29 billion between January and May, compared to $21.33 billion recorded in the same period last year. The country exported goods worth $11.8 billion, a 17.2% increase, while imports totaled $13.48 billion, an 19.7% increase. The United States and Vietnam were Cambodia's two largest export markets, accounting for $4.35 billion and $2.04 billion in exports, respectively. China remained Cambodia's largest source of imports, with a total value of $7 billion, a 31.4% increase from the previous year. The government's active trade diplomacy has fostered strong ties with international partners, attracting unprecedented interest in investment projects registered with the Council for the Development of Cambodia (CDC). Key sectors such as garments, footwear, and electronics continue to be the backbone of Cambodia's manufacturing. (Source: Khmer Times)

Thai firms encounter short-term business risks amid border tensions Thai companies operating in Cambodia face short-term business risks due to border tensions between the two nations, according to UOB Kay Hian, one of Asia's largest brokerage firms. The company views these tensions as a psychological factor rather than a fundamental risk, and Thai listed companies with investments in Cambodia have not experienced significant disruptions to their operations. Analysts suggest that companies listed on the Stock Exchange of Thailand (SET) with operations in Cambodia may face only short-term psychological impacts. Thai-Cambodian disputes are not new and have flared up intermittently over the past two decades. Carabao Group Plc (CBG) plans to establish a manufacturing plant in Cambodia, aligning with regional strategies to lower production costs and offer price competitiveness. While the Thai-Cambodian issue may affect investor sentiment regarding stocks with Cambodian exposure, there has been no material disruption to actual business operations. (Source: Khmer Times)

Investment in 59 projects hits $816 million in May 2025, says CDC The Council for the Development of Cambodia (CDC) registered 59 investment projects in May 2025, with a total investment capital of $816 million. According to a press release from the CDC today, In May 2025, the CDC registered a total of 59 investment projects with a total investment capital of approximately $816 million and could create approximately 44,000 jobs. 38 projects are outside special economic zones, while 21 are within them. The number of registered investments increased by 136%, while investment capital grew by 231%. From January to May 2025, there were 290 registered investments, a 90% increase from 137 projects. Total investment capital reached $4.2 billion, a 52% increase from the same period in 2024. (Source: Khmer Times)

Corporate News

KB PRASAC Bank extends services to AEON Mall Mean Chey with latest branch opening KB PRASAC Bank has opened its first-ever branch at AEON Mall Mean Chey, marking a significant milestone in the bank's expansion and commitment to customer convenience. The new branch offers extended operating hours from 9:00 AM to 8:00 PM, seven days a week, allowing customers to access financial services while enjoying their shopping and leisure time. The branch provides full access to KB PRASAC Bank's comprehensive range of financial services, including ATM and Cash-In Machine, Savings and Deposit Accounts, Loan Facilities, Local and International Fund Transfers, Tax Payment Services, NSSF Enterprise Payment, MPWT Public Services, and other services. KB PRASAC Bank is offering a special promotion for customers who open any account, term deposit account, or merchant savings account at the flagship branch, receiving cash and instant gifts while stock lasts. (Source: Cambodia Investment Review)

Stock Market

CSX index rises marginally; divergent moves across boards On 11 June 2025, the CSX Index rose by 0.06%, closing at 407.9 points. On the Main Board, PPSP (+0.47%) and CGSM (+0.41%) were the gainers, while PEPC (-1.50%), PAS (-0.82%), GTI (-0.49%), and PPAP (-0.30%) recorded losses. PWSA, ABC, and MJQE remained unchanged. On the Growth Board, DBDE and JSL declined by 3.77% and 0.35%, respectively. Total trading volume reached 75,656 shares, with a turnover of KHR 479 million. (Source: YSC Research)

CSX Stocks


CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
407.9 0.06 75,656 10,940

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 0.00 0.00 -0.63 6,320 6,300 26,766 550
GTI 8,060 -0.49 0.50 58.66 8,200 7,060 52,326 322
PPAP 13,340 -0.30 -0.45 -3.61 14,120 13,340 2,873 276
PPSP 2,130 0.47 0.47 -1.84 2,160 2,090 45,986 153
PAS 12,100 -0.82 1.00 4.67 12,220 11,780 4,335 1,038
ABC 6,900 0.00 -0.29 -8.49 6,960 6,880 219,593 2,989
PEPC 2,630 -1.50 -3.66 10.04 2,800 2,600 4,433 197
MJQE 2,020 0.00 0.00 -2.88 2,030 2,010 59,335 655
CGSM 2,430 0.41 0.00 0.00 2,450 2,410 31,351 4,761
DBDE 2,040 -3.77 -5.99 -0.97 2,170 2,040 34,184 38
JSL 2,830 -0.35 2.91 -17.25 2,880 2,600 10,466 73
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 6.46 0.56 1.73 13.23
GTI 4Q24 48 7,057 167.92 1.14 0.96 28.64
PPAP 4Q24 2,550 22,115 5.23 0.60 1.63 3.29
PPSP 4Q24 220 3,866 9.70 0.55 2.88 5.08
PAS 4Q24 1,478 8,224 8.19 1.47 2.26 8.06
ABC 4Q24 1,140 13,790 6.05 0.50 0.91 NA
PEPC* 1Q25 -1,009 -17 NA -152.80 4.60 NA
MJQE 4Q24 37 307 54.41 6.58 3.99 12.14
CGSM 4Q24 52 606 46.71 4.01 6.79 16.11
JSL 4Q24 14 685 202.11 4.13 4.04 18.15
DBDE 4Q24 23 1,840 89.25 1.11 0.53 8.09
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% 2,417
ABC32B 0 0.0 - - KhAA Subordinated Bond 8.50% 2,459
CGSM33A 0 0.0 - - KhAAA Sustainability Bond SOFR +3% or 5.5% per annum, whichever is higher 3,079
CIAF28A 0 0.0 - - KhAAA N/A 6.30% Annually 1,283
CIAF30A 0 0.0 - - KhAAA Guaranteed Bond 5.60% 1,730
GT27A 0 0.0 - - N/A Plain Bond, Green Bond 7% per annum 908
PPSP29A 0 0.0 - - KhAAA Guaranteed Green Bond Term SOFR + 1.5% 1,470
RRC32A 0 0.0 - - N/A Plain Bond 7% Annually 2,678
RRGO27A 0 0.0 - - KhAAA Guaranteed Bond SOFR+3,5% or 5% per annum (take which one is higher) 925
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) 2,752
SNTD40A 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 1.80% 5,404
SNTD40B 0 0.0 - - N/A Green Infrastructure Bond 180-Day Average SOFR + 1.60% (4.00% - 6.00%) 5,404
SNTD40C 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 3.00% 5,404
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) 58.0 236.0 175.3 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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