Trademark registration moves to a paperless system starting today

/ September 30, 2025


News Highlights

Economy and Industry

Trademark registration moves to a paperless system starting today The Cambodian Ministry of Commerce is introducing a Paperless Trademark Registration System to enhance the business environment and improve transparency. The system will be available from September 30 and will manage the trademark registration process in a fully digital format. The ministry encourages entrepreneurs to register their intellectual property for their products and services, aiming to add value and strengthen competitiveness in both domestic and foreign markets. Intellectual property is essential for promoting trade, new businesses, micro and small enterprises, and foreign direct investment through value creation, commercialization, financing, innovation, and research and development. The ministry registered 9,412 trademarks as intellectual property last year, a 9.2% increase from the previous year. The ministry is committed to improving public service delivery through automation, cost reduction, price stability, and boosting domestic trade, market development, and private sector development. (Source: Khmer Times)

ADB partners with Techo Startup Center to boost digitalisation of Cambodian MSMEs The Asian Development Bank (ADB) and Cambodia's Techo Startup Center have launched a Digital Adoption Initiative (DAI) to boost micro-, small-, and medium-sized enterprises (MSMEs) digitalization in the Southeast Asian country. The initiative will help hundreds of Cambodian MSMEs adopt digital technologies between now and 2028, boosting their competitiveness and productivity. The program will take a phased approach, focusing on one major industry sector each year, starting with tourism. The initiative is part of Cambodia's broader effort to build a vibrant digital economy and society, in line with the Cambodia Digital Economy and Society Policy Framework 2021-2035. The initiative will support MSMEs in integrating digital solutions into their daily operations, helping them become more competitive, resilient, and future-ready. The initiative will provide practical tools for Cambodian MSMEs to grow stronger in the digital economy. (Source: Khmer Times)

Investment opportunities rise as Cambodia strengthens growth and trade ties Cambodia is gaining prominence as a manufacturing, services, and innovation hub due to its youthful workforce, growing supply-chain links, and investor-friendly policies. The 2025 Investment Climate Statement shows steady economic growth, trade agreements, and investor-friendly reforms. The country's gross domestic product grew by 5.3% in 2024, driven by tourism, hospitality, and FDI. The Royal Government offers full foreign ownership, corporate tax holidays, duty-free imports, and no restrictions on repatriating profits. The country's export-led strategy includes 32 operational Special Economic Zones. The external trade network is expanding, with four bilateral and regional free trade agreements in force. The banking and finance sector is deepening, and intellectual property registration and innovation policies are being modernized. (Source: Khmer Times)

Corporate News

MinebeaMitsumi set to open fourth factory in Pursat next month Japanese electronics manufacturer MinebeaMitsumi is set to inaugurate its fourth factory in Pursat province, Cambodia, despite global economic challenges. The factory, built over 50 hectares in the Special Economic Zone, is expected to generate jobs and produce electronic components such as motors, sensors, and actuators. MinebeaMitsumi has been investing in Cambodia since 2011 and has expanded its investment activities from its first to third factory in the Royal Group Phnom Penh Special Economic Zone. The fourth factory is completing construction and is expected to begin production in October. The company's 9,000 workers are developing their skills in the production of electronic equipment, electrical equipment, and automotive components. Cambodian officials have expressed strong support for MinebeaMitsumi's continued investment, with the Council for the Development of Cambodia (CDC) praising the company's long-standing cooperation and reiterating the government's commitment to supporting foreign investors. (Source: Khmer Times)

Stock Market

CSX index drops as losses in CGSM and GTI outweigh gains in PEPC On 30 September 2025, the CSX Index fell 0.15% to close at 403.7 points. On the Main Board, PEPC (+0.77%), MJQE (+0.51%), and PWSA (+0.33%) posted gains, while CGSM (-0.41%), GTI (-0.28%), PAS (-0.16%), and PPAP (-0.15%) recorded losses. PPSP and ABC closed unchanged. On the Growth Board, DBDE was unchanged, while JSL slipped 0.36%. Total trading volume reached 61,627 shares, with a turnover of KHR 336 million. (Source: YSC Research)

CSX Stocks


CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
403.67 -0.15 61,627 10,827

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 6,160 0.33 -1.28 -3.14 6,240 6,140 70,682 536
GTI 7,100 -0.28 -0.84 39.76 7,160 7,000 25,483 284
PPAP 13,580 -0.15 -0.44 -1.88 13,640 13,500 3,806 281
PPSP 2,060 0.00 0.49 -5.07 2,070 2,050 190,744 148
PAS 12,160 -0.16 1.33 5.19 12,200 12,000 7,572 1,043
ABC 6,780 0.00 0.00 -10.08 6,800 6,740 427,200 2,937
PEPC 2,610 0.77 0.38 9.21 2,680 2,530 6,531 196
MJQE 1,980 0.51 -0.50 -4.81 2,000 1,970 91,896 642
CGSM 2,430 -0.41 -1.22 0.00 2,460 2,420 95,340 4,761
DBDE 2,040 0.00 0.00 -0.97 2,050 2,020 14,003 38
JSL 2,760 -0.36 -0.72 -19.30 2,900 2,760 3,540 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 2Q25 827 11,622 7.45 0.53 1.68 14.85
GTI 2Q25 29 7,023 243.65 1.01 0.86 39.93
PPAP 1Q25 2,951 22,115 4.60 0.61 1.58 3.96
PPSP 2Q25 735 4,376 2.80 0.47 0.94 2.08
PAS 1Q25 1,212 8,224 10.03 1.48 2.19 7.69
ABC 2Q25 1,460 14,410 4.64 0.47 0.81 NA
PEPC* 3Q25 -1,445 -1,303 NA NA 3.13 NA
MJQE 2Q25 45 340 43.83 5.82 3.87 12.70
CGSM 2Q25 25 618 98.91 3.93 6.94 19.28
JSL 2Q25 -82 492 NA 5.61 20.42 34.22
DBDE 2Q25 147 1,933 13.92 1.06 0.31 7.22
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% 2,306
ABC32B 0 0.0 - - KhAA Subordinated Bond 8.50% 2,348
CGSM33A 0 0.0 - - KhAAA Sustainability Bond SOFR +3% or 5.5% per annum, whichever is higher 2,968
CIAF28A 0 0.0 - - KhAAA N/A 6.30% Annually 1,172
CIAF30A 0 0.0 - - KhAAA Guaranteed Bond 5.60% 1,619
GT27A 0 0.0 - - N/A Plain Bond, Green Bond 7% per annum 797
PPSP29A 0 0.0 - - KhAAA Guaranteed Green Bond Term SOFR + 1.5% 1,359
RRC32A 0 0.0 - - N/A Plain Bond 7% Annually 2,567
RRGO27A 0 0.0 - - KhAAA Guaranteed Bond SOFR+3,5% or 5% per annum (take which one is higher) 814
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) 2,641
SNTD40A 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 1.80% 5,293
SNTD40B 0 0.0 - - N/A Green Infrastructure Bond 180-Day Average SOFR + 1.60% (4.00% - 6.00%) 5,293
SNTD40C 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 3.00% 5,293
Government Bonds

Historical Issuance Summary

  1 Y 2 Y 3 Y 5 Y 10 Y
Total issuance ('K units) 238.1 312.0 227.3 18.0 0.0
Outstanding (KHR'bn) 58.0 208.0 227.3 18.0 0.0
Issuance ('K units, Latest) 34.0 0.0 40.0 8.0 0.0
Coupon rate (Latest) 2.70% 3.20% 3.50% 4.34% 4.60%
Successful yield (Latest) 3.25% - 4.30% 5.00% -
Latest bidding 23-Apr-25 21-May-25 17-Sep-25 45,861 45,889
*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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