Cambodia introduces v-Pass pilot to replace entry stamps for visitor
News Highlights |
Economy and Industry
Cambodia introduces v-Pass pilot to replace entry stamps for visitor The General Department of Immigration (GDI) has introduced a new digital "v-Pass" system to make traveling to and from Cambodia easier. Starting July 1, 2025, the pilot test for the system is officially underway. The v-Pass system replaces the previous passport stamp or QR code sticker, making the entry process more efficient and entirely digital. Once a visitor passes through immigration, their digital v-Pass will be sent to the email address provided on their e-arrival card or application, or at (https://arrival.gov.kh). The Cambodia Tourism Board states that tourists can use the v-Pass by presenting their passport for entry and departure, keeping their digital v-Pass ready for verification during their stay. Thourn Sinan, Chairman of IMCT Co Ltd and the Pacific Asia Travel Association Cambodia chapter, believes the v-Pass system could serve as a positive step towards modernizing Cambodia's tourism infrastructure and improving the country's image as a forward-thinking and welcoming destination. The move forms part of Cambodia's digitalisation drive and a means of collecting arrival data, with no impact on visiting tourists. (Source: Kiripost)
SERC drives capital market growth through increased equity listings The Securities and Exchange Regulator of Cambodia (SERC) is promoting financial literacy and public listing awareness to support long-term capital market growth. The SERC has initiated events and workshops to accelerate equity market growth. So Socheat, the Director General of SERC, led two initiatives: an educational scholarship program in partnership with the private sector and a technical seminar on navigating the transition from private companies to public listings in Phnom Penh. The seminar aimed to disseminate practical insights to companies with listing potential and encourage long-term financing through equity markets. The goal is to cultivate a broader base of public issuers and stimulate deeper capital market participation among Cambodian enterprises. (Source: Khmer Times)
Japanese firm considers investing in Cambodia's water industry Cambodia is focusing on improving water accessibility and infrastructure development to contribute to national development and achieve Sustainable Development Goals. Japanese conglomerate Marubeni has expressed interest in supporting Cambodia's infrastructure needs for safe and affordable drinking water in both urban and rural areas. The company's global portfolio includes operations serving 10 million people in Metro Manila, 2 million in Chile, and 1 million in other regions. The Cambodian government is open to responsible private investment and is moving from small-scale and short-term to strategic and sustainable solutions. Marubeni officials presented the company's global portfolio in water supply services, including operations serving 10 million people in Metro Manila, 2 million in Chile, and 1 million in other regions. The Cambodian government has made clean water development one of its priority goals for the urban population. (Source: Khmer Times)
Corporate News
Wing Bank, Techo Startup Center highlight success of tech accelerator initiative Wing Bank and Techo Startup Center have completed Cohort 4 of the Digital Platform Accelerator, a 12-week program designed to equip emerging Cambodian startups with the tools, mentorship, and visibility needed to scale sustainably. The program included expert-led training sessions, hands-on technical workshops, and direct engagement with experienced mentors and potential investors. Wing Bank played a vital role in providing business expertise, personalized mentorship, and valuable feedback to help founders sharpen their business models and solutions. The Digital Platform Accelerator is part of a long-standing partnership between Wing Bank and Techo Startup Center, which has supported 160 startups and created over 2,000 jobs. This year's accelerator drew 61 applications, with 5 selected as top performers. The top-performing startups received grants of 40 million riels, 30 million riels, 20 million riels, and 10 million riels. (Source: Kiripost)
Stock Market
CSX index edges up 0.10% as MJQE and CGSM lead gainers On 03 July 2025, the CSX Index rose by 0.10%, closing at 405.8 points. On the Main Board, MJQE (+1.01%) and CGSM (+0.41%) posted gains, while PEPC (-2.24%), PPSP (-0.47%), GTI (-0.30%), ABC (-0.29%), and PPAP (-0.15%) recorded losses. PWSA and PAS remained unchanged. On the Growth Board, DBDE and JSL were up 0.50% and 0.36%, respectively. Total trading volume reached 75,239 shares, with a turnover of KHR 337 million. (Source: YSC Research)
CSX Stocks |
CSX Index
Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
405.77 | 0.10 | 75,239 | 10,883 |
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 | 6,580 | 0.00 | 1.54 | 3.46 | 6,580 | 6,320 | 38,876 | 572 |
GTI | 6,560 | -0.30 | 0.92 | 29.13 | 8,700 | 6,500 | 16,628 | 262 |
PPAP | 13,560 | -0.15 | -0.15 | -2.02 | 13,680 | 13,340 | 1,091 | 280 |
PPSP | 2,110 | -0.47 | 0.00 | -2.76 | 2,130 | 2,090 | 46,579 | 152 |
PAS | 11,880 | 0.00 | -3.88 | 2.77 | 12,380 | 11,880 | 13,518 | 1,019 |
ABC | 6,900 | -0.29 | -0.29 | -8.49 | 6,960 | 6,900 | 34,353 | 2,989 |
PEPC | 2,620 | -2.24 | -0.38 | 9.62 | 2,720 | 2,620 | 511 | 196 |
MJQE | 2,010 | 1.01 | 0.00 | -3.37 | 2,030 | 1,990 | 131,047 | 651 |
CGSM | 2,430 | 0.41 | 0.00 | 0.00 | 2,440 | 2,410 | 29,620 | 4,761 |
DBDE | 2,030 | 0.50 | -0.98 | -1.46 | 2,160 | 2,020 | 5,321 | 37 |
JSL | 2,750 | 0.36 | -0.36 | -19.59 | 2,860 | 2,690 | 1,589 | 71 |
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 | 6.73 | 0.59 | 1.80 | 13.39 |
GTI | 4Q24 | 48 | 7,057 | 136.67 | 0.93 | 0.78 | 24.46 |
PPAP | 4Q24 | 2,550 | 22,115 | 5.32 | 0.61 | 1.66 | 3.34 |
PPSP | 4Q24 | 220 | 3,866 | 9.60 | 0.55 | 2.85 | 5.04 |
PAS | 4Q24 | 1,478 | 8,224 | 8.04 | 1.44 | 2.22 | 7.95 |
ABC | 4Q24 | 1,140 | 13,790 | 6.05 | 0.50 | 0.91 | NA |
PEPC* | 1Q25 | -1,009 | -17 | NA | -152.21 | 4.58 | NA |
MJQE | 4Q24 | 37 | 307 | 54.14 | 6.55 | 3.97 | 12.08 |
CGSM | 4Q24 | 52 | 606 | 46.71 | 4.01 | 6.79 | 16.11 |
JSL | 4Q24 | 14 | 685 | 196.40 | 4.01 | 3.93 | 17.86 |
DBDE | 4Q24 | 23 | 1,840 | 88.81 | 1.10 | 0.52 | 8.05 |
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% | 2,395 |
ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,437 |
CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 3,057 |
CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,261 |
CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,708 |
GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 886 |
PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,448 |
RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,656 |
RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 903 |
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) | 2,730 |
SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,382 |
SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,382 |
SNTD40C | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 3.00% | 5,382 |
Government Bonds |
Historical Issuance Summary
1 Y | 2 Y | 3 Y | 5 Y | 10 Y | |
Total issuance ('K units) | 238.1 | 312.0 | 187.3 | 10.0 | 0.0 |
Outstanding (KHR'bn) | 58.0 | 236.0 | 187.3 | 10.0 | 0.0 |
Issuance ('K units, Latest) | 34.0 | 0.0 | 12.0 | 0.0 | 0.0 |
Coupon rate (Latest) | 2.70% | 3.20% | 3.50% | 4.75% | 5.25% |
Successful yield (Latest) | 3.25% | - | 3.50% | - | - |
Latest bidding | 23-Apr-25 | 21-May-25 | 25-Jun-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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