Basic food basket costs drop by 5.1% YoY from March to May
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Economy and Industry
Basic food basket costs drop by 5.1% YoY from March to May The World Food Programme (WFP) has reported a 5.1% decline in the average cost of the Basic Food Basket (BFB) in Cambodia from March to May 2025. The average cost of BFB was approximately KHR 105,000 per person per month, equivalent to $25.6, a 5.1% YoY decrease compared to the same period in 2024. The decline was primarily attributed to the reduced prices of some food items in the basket, particularly mixed rice, which offset the price increase in vegetable oil and pork with fat. Market trends revealed dynamic shifts in retail prices of key commodities in the food basket during the quarter. Mixed rice showed a continued decline, averaging KHR 2,100 in May, down more than 20% from May 2024. Duck eggs remained relatively consistent, while morning glory exhibited price swings. Vegetable oil peaked at KHR 29,500 in March, then tapered slightly to KHR 29,100 in May, but still up sharply from 2024 figures. Snakehead fish prices held steady throughout the quarter, while pork with fat surged to KHR 18,390 by May. Sweet potatoes closed the quarter lower at KHR 2,360, reflecting modest softness in root crop prices. (Source: Khmer Times)
112 Cambodian farms approved to export fresh durian to China Cambodia has received permission from the General Administration of Customs of China (GACC) to export fresh durian directly to the Chinese market, following the signing of a protocol in April. The decision was made after the GACC assessed and approved registration applications of 112 durian farms and 30 packing facilities that met China's Good Agricultural Practices (GAP), phytosanitary requirements, and food safety standards. The Ministry of Agriculture, Forestry and Fisheries (MAFF) urged all owners of approved farms and packing facilities to strictly comply with the protocol's requirements, including being free from harmful substances, pesticides, and banned chemicals. Fresh durian is now the ninth Cambodian agricultural product approved for direct export to China, following rice, rice husks, dry cassava, corn kernels, bananas, mangoes, longans, pepper, and coconuts. (Source: Khmer Times)
Chinese medical glove leader announces significant expansion plans in Cambodia Chinese medical glove manufacturer, Shijiazhuang Hongray Group, is seeking a new location in Cambodia to expand its production of medical gloves and personal protective equipment (PPE). The company plans to install up to 10 additional manufacturing lines. Chairman Liu Guixi met with Secretary-General Chea Vuthy, the Secretary-General of the Cambodian Investment Board within the Council for the Development of Cambodia (CDC), and his team. Vuthy commended Shijiazhuang Hongray Group's existing partnership with Medtecs MSEZ Corp., Ltd., which led to the establishment of a medical glove facility in Svay Rieng province. He highlighted Cambodia's attractive investment climate, transparent, predictable, and open investment laws, and numerous opportunities in key sectors. The primary objective of the visit was to scout a new site in Cambodia to boost the company's manufacturing capacity, driven by the need to add as many as 10 new production lines. (Source: Khmer Times)
Corporate News
Ruder Finn Enters Cambodia and Mekong Region Through Acquisition of ERA Communications Ruder Finn, a leading independent communications and integrated marketing consultancy, has acquired Southeast Asia-based ERA Communications, a strategic move that strengthens its presence across Thailand, Vietnam, Cambodia, Laos, and Myanmar. The acquisition will see ERA's operations integrated under the new brand Ruder Finn Era, allowing the firm to maintain its local insight while accessing Ruder Finn's global expertise, technology, and client network. The move comes amid growing demand from global brands for integrated communications strategies tailored to emerging markets. ERA Communications, founded in 2015, has a reputation for bold and effective campaigns, collecting multiple regional awards. The Cambodian office will be opened under its larger region-wide expansion. The acquisition underscores how major communications players are repositioning around ASEAN's emerging economies, particularly Cambodia, which is gaining attention for its young consumer base and growing demand for strategic brand communications. With over 800 consultants in Asia-Pacific and key clients including Visa, Emirates, Four Seasons, L'Oreal, Hermès, and Volkswagen Group, Ruder Finn's expansion into Cambodia signals rising confidence in the market's long-term potential. (Source: Cambodia Investment Review)
Stock Market
CSX slightly down as GTI drops over 6% On 07 July 2025, the CSX Index declined by 0.05%, closing at 405.2 points. On the Main Board, PAS (+0.34%) and ABC (+0.29%) posted gains, while GTI (-6.39%) and PWSA (-0.30%) recorded losses. PPAP, PPSP, MJQE, and CGSM remained unchanged. On the Growth Board, DBDE remained unchanged, while JSL declined by 2.08%. Total trading volume reached 90,707 shares, with a turnover of KHR 604 million. (Source: YSC Research)
CSX Stocks |
CSX Index
Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
405.23 | -0.05 | 90,707 | 10,869 |
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 | 6,540 | -0.30 | 0.93 | 2.83 | 6,580 | 6,320 | 56,130 | 569 |
GTI | 5,860 | -6.39 | -9.85 | 15.35 | 8,700 | 5,860 | 71,599 | 234 |
PPAP | 13,560 | 0.00 | -0.15 | -2.02 | 13,680 | 13,340 | 1,529 | 280 |
PPSP | 2,110 | 0.00 | 0.00 | -2.76 | 2,130 | 2,090 | 78,748 | 152 |
PAS | 11,960 | 0.34 | -3.24 | 3.46 | 12,380 | 11,880 | 42,350 | 1,026 |
ABC | 6,920 | 0.29 | 0.00 | -8.22 | 6,960 | 6,900 | 91,685 | 2,997 |
PEPC | 2,680 | 0.00 | 1.90 | 12.13 | 2,720 | 2,620 | 1,139 | 201 |
MJQE | 2,000 | 0.00 | -0.50 | -3.85 | 2,030 | 1,990 | 187,763 | 648 |
CGSM | 2,430 | 0.00 | 0.00 | 0.00 | 2,440 | 2,420 | 37,707 | 4,761 |
DBDE | 2,040 | 0.00 | -0.49 | -0.97 | 2,140 | 2,020 | 7,434 | 38 |
JSL | 2,820 | -2.08 | 2.17 | -17.54 | 2,880 | 2,690 | 1,875 | 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 | 6.69 | 0.58 | 1.79 | 13.36 |
GTI | 4Q24 | 48 | 7,057 | 122.08 | 0.83 | 0.70 | 22.50 |
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 | 8.09 | 1.45 | 2.23 | 7.99 |
ABC | 4Q24 | 1,140 | 13,790 | 6.07 | 0.50 | 0.92 | NA |
PEPC* | 1Q25 | -1,009 | -17 | NA | -155.70 | 4.68 | NA |
MJQE | 4Q24 | 37 | 307 | 53.88 | 6.52 | 3.95 | 12.02 |
CGSM | 4Q24 | 52 | 606 | 46.71 | 4.01 | 6.79 | 16.11 |
JSL | 4Q24 | 14 | 685 | 201.40 | 4.11 | 4.03 | 18.12 |
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% | 2,391 |
ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,433 |
CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 3,053 |
CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,257 |
CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,704 |
GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 882 |
PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,444 |
RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,652 |
RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 899 |
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) | 2,726 |
SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,378 |
SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,378 |
SNTD40C | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 3.00% | 5,378 |
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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