Cambodia aims to attract U.S. investment in agriculture

/ October 6, 2025


News Highlights

Economy and Industry

Cambodia aims to attract U.S. investment in agriculture Both sides at a recent agribusiness roundtable discussion hosted by the US Embassy in Phnom Penh explored investment opportunities in Cambodia's agricultural sector, focusing on collaboration with American companies. Key participants included officials from various Cambodian ministries and representatives from agriculture associations. Discussions highlighted support for rice processing, investment in agricultural technology, and the need to enhance local cashew processing to boost export revenues. The US Embassy noted the importance of stakeholder insights in shaping partnerships. Additionally, Cambodia's government is set to designate cashew crops in Kampong Thom as a Geographical Indication product to enhance their export potential. Cambodia ranks third globally in cashew cultivation with 580,117 hectares dedicated to the crop. (Source: Khmer Times)

Cambodia sees 9% drop in Korean tourist arrivals during Jan-July South Korea remains one of Cambodia's top ten international tourism markets, though the number of South Koreans visiting has decreased by 9% in the first seven months of 2025 compared to 2024, reaching 106,686 arrivals. This decline is attributed to border conflicts and a travel advisory from Korean authorities. While other Southeast Asian nations like Indonesia are seeing increases in Korean tourism, Cambodia's appeal appears to be diminishing despite its cultural attractions and strong historical ties since normalized diplomatic relations in 1997. Recent concerns over cybercrimes have also influenced tourist perceptions. Nonetheless, the Ministry of Tourism expects that strong bilateral cooperation and cultural exchanges will help maintain South Korea's status as a vital source of tourists, emphasizing the continuing attraction of K-pop concerts and cultural events. In 2024, nearly 200,000 Korean tourists visited Cambodia, with positive momentum anticipated for 2025. (Source: Khmer Times)

Lower-cost, greener power drives expansion of Cambodia's garment sector Experts emphasize that cheaper electricity and a significant shift toward clean energy are essential for enhancing the competitiveness of Cambodia's garment sector. During a panel at Clean Energy Week, Peter Ford noted that global brands aim for net-zero emissions by 2040, requiring factories to rely solely on electricity, thus reducing biomass usage that contributes to deforestation. Ly Tek Heng pointed out that Cambodia's high electricity tariffs are a major barrier to transitioning factories to greener energy sources, asserting that lower costs could significantly increase the number of operational factories in the country. He stressed the importance of producing goods from clean energy to bolster Cambodia's reputation for high-quality products. Sovichea Saron highlighted that financing renewable energy transitions poses challenges for the developing garment industry amid prevailing business and policy uncertainties. The industry acknowledges the necessity of adopting renewable energy to meet buyer demands. (Source: Kiripost)

Corporate News

Etihad Airways begins direct service between Abu Dhabi and Phnom Penh Etihad Airways has launched its first direct flights between Abu Dhabi and Phnom Penh, Cambodia, responding to increasing international tourist demand. The inaugural flight took place on October 4, 2023, marked by a welcoming ceremony attended by Minister of Tourism Huot Hak and officials from various civil aviation authorities. The service will operate four times a week, with flights taking approximately seven hours. This move signifies Cambodia's growing integration into the global aviation network, according to Minister Hak, and aims to enhance connectivity for both business and leisure travelers. The inaugural flight carried 154 passengers to Cambodia and saw 90 passengers return to Abu Dhabi. Prime Minister Hun Manet expressed support for this historic flight, which follows the introduction of Emirates Airlines' direct route from Dubai to Cambodia that began on May 1, 2024. The recent data highlights a surge in air travelers to Cambodia, with 4.08 million visitors recorded in the first seven months of 2025, representing a 16% increase YoY. (Source: Khmer Times)

Stock Market

PEPC, PPSP gain as CSX index dips marginally On 6 October 2025, the CSX Index fell 0.03% to close at 402.6 points. On the Main Board, PEPC (+0.79%) and PPSP (+0.49%) posted gains, while PAS (-0.49%) and GTI (-0.28%) recorded losses. PWSA, PPAP, ABC, MJQE, and CGSM closed unchanged. On the Growth Board, DBDE was unchanged, while JSL declined 0.36%. Total trading volume reached 58,908 shares, with a turnover of KHR 285 million. (Source: YSC Research)

CSX Stocks


CSX Index

Value 1D % Chg 1D Vol Mkt Cap (KHR'bn)
402.59 -0.03 58,908 10,798

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 0.00 0.00 -3.14 6,220 6,140 14,202 536
GTI 7,040 -0.28 -0.85 38.58 7,140 6,900 2,251 282
PPAP 13,600 0.00 0.15 -1.73 13,600 13,500 707 281
PPSP 2,060 0.49 0.00 -5.07 2,070 2,050 11,484 148
PAS 12,120 -0.49 -0.33 4.84 12,200 12,000 2,013 1,040
ABC 6,780 0.00 0.00 -10.08 6,800 6,740 80,156 2,937
PEPC 2,560 0.79 -1.92 7.11 2,680 2,530 1,391 192
MJQE 1,980 0.00 0.00 -4.81 1,990 1,970 38,570 642
CGSM 2,420 0.00 -0.41 -0.41 2,440 2,420 23,164 4,741
DBDE 2,030 0.00 -0.49 -1.46 2,050 2,020 6,409 37
JSL 2,750 -0.36 -0.36 -19.59 2,900 2,750 50,252 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 7,023 241.59 1.00 0.86 39.69
PPAP 1Q25 2,951 22,115 4.61 0.61 1.58 3.97
PPSP 2Q25 735 4,376 2.80 0.47 0.94 2.08
PAS 1Q25 1,212 8,224 10.00 1.47 2.18 7.68
ABC 2Q25 1,460 14,410 4.64 0.47 0.81 NA
PEPC* 3Q25 -1,445 -1,303 NA NA 3.07 NA
MJQE 2Q25 45 340 43.83 5.82 3.87 12.70
CGSM 2Q25 25 618 98.50 3.91 6.91 19.21
JSL 2Q25 -82 492 NA 5.58 20.35 34.14
DBDE 2Q25 147 1,933 13.85 1.05 0.31 7.19
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% 2,300
ABC32B 0 0.0 - - KhAA Subordinated Bond 8.50% 2,342
CGSM33A 0 0.0 - - KhAAA Sustainability Bond SOFR +3% or 5.5% per annum, whichever is higher 2,962
CIAF28A 0 0.0 - - KhAAA N/A 6.30% Annually 1,166
CIAF30A 0 0.0 - - KhAAA Guaranteed Bond 5.60% 1,613
GT27A 0 0.0 - - N/A Plain Bond, Green Bond 7% per annum 791
PPSP29A 0 0.0 - - KhAAA Guaranteed Green Bond Term SOFR + 1.5% 1,353
RRC32A 0 0.0 - - N/A Plain Bond 7% Annually 2,561
RRGO27A 0 0.0 - - KhAAA Guaranteed Bond SOFR+3,5% or 5% per annum (take which one is higher) 808
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) 2,635
SNTD40A 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 1.80% 5,287
SNTD40B 0 0.0 - - N/A Green Infrastructure Bond 180-Day Average SOFR + 1.60% (4.00% - 6.00%) 5,287
SNTD40C 0 0.0 - - N/A Green Infrastructure Bond 180-Day SOFR Average + 3.00% 5,287
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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