Over 10,000 EVs are now officially registered in Cambodia
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Economy and Industry
Over 10,000 EVs are now officially registered in Cambodia As of September 2025, Cambodia has registered 10,568 electric vehicles, including 7,187 cars, 671 tricycles, and 2,710 motorcycles. The trend of EV vehicles has significantly increased in the first eight months of 2025, with 5,571 registered. The Ministry of Public Works and Transport is considering adding additional markings to license plates for cars, tricycles, and motorcycles, which could take shape in 2026. The Royal Government of Cambodia has launched a national policy on the development of the electric vehicle sector for 2024-2030, aiming to promote the use of over 770,000 electric vehicles by 2030. Specific targets include registering 30,000 electric cars, 720,000 electric motorcycles, and 20,000 electric tricycles. The Royal Government has provided special incentives to importers of electric cars and motorcycles by reducing import duties by 50%. The Ministry of Economy and Finance has also adjusted and reduced the tax rate on means of transport for electric vehicles, tourist vehicles, small 4-door trucks, and passenger cars to promote the growth of electric vehicles in Cambodia. (Source: Khmer Times)
Cambodia-China trade surges 27% to a record $14 billion In the first nine months of 2025, bilateral trade between Cambodia and China reached $14.2 billion, a 27% increase from the previous year. However, Cambodian exports to China declined by 7.7% to $1.18 billion, while imports from China surged by 32% to $13.02 billion. This trade imbalance is a structural issue rather than short-term fluctuations. To address this, Cambodia needs to strengthen its domestic production base and enhance export strategies. Two main strategies are developing its own raw material production plants to reduce imports and identifying high-potential Cambodian products for export to China. Cambodia's trade and investment relationship with China continues to grow, with China becoming the dominant source of foreign investment in the first nine months of 2025. (Source: Khmer Times)
SERC and CSX partner to strengthen securities market and promote SME investment The Securities and Exchange Regulator of Cambodia (SERC) and the Cambodia Securities Exchange (CSX) have held a two-day seminar to strengthen the securities market and boost SME access to long-term financing. The seminar, titled 'Securities Sector in Cambodia', was attended by 150 participants, including professors and investors. The workshop aimed to promote the securities sector to university professors, helping them understand the development of the Kingdom's securities market. It also aimed to raise awareness among potential investors, particularly SMEs, about investment opportunities and long-term financing. The seminar stressed the importance of promoting financial literacy across generations of Cambodians and preparing students and young professionals to become informed investors contributing to the country's economic growth. The seminar drew members from various universities, highlighting Cambodia's efforts to enhance financial literacy, broaden investment channels, and provide long-term capital for small and medium-sized enterprises. (Source: Khmer Times)
Corporate News
ASIP introduces innovation scheme to empower 20 SMEs in Kampong Thom The Angkor Social Innovation Park (ASIP) has launched Innolab Kampong Thom to support local SMEs in tourism, handicraft, and agriculture by addressing challenges in finance, technology, and skills. Deputy Prime Minister Vongsey Vissoth highlighted the importance of Innolab Kampong Thom in addressing key challenges in funding, technology, and skills while enhancing Cambodia's overall business ecosystem. As the number of SMEs in Cambodia increases, Vissoth emphasized the role of the government in assisting entrepreneurs in receiving the funds needed to expand their operations. Nine out of 10 businesses in Cambodia are classified as SMEs, and as of 2018, there were 155,745 registered SMEs. The eight-month program aims to enhance the quality and productivity of the selected 20 SMEs by providing skill training and resources to boost their SMEs innovation. The program will provide support to 20 SMEs for eight months, with the goal of improving their business innovation in production, marketing, and management. ASIP, a social enterprise since its inception in 2021, has been supporting Cambodia's economic development by providing sustainable and innovative solutions to small and medium enterprises. (Source: Kiripost)
Stock Market
CSX index inches up 0.06% on modest gains in ABC and PPAP On 14 October 2025, the CSX Index edged up 0.06% to close at 404.1 points. On the Main Board, ABC (+0.30%) and PPAP (+0.15%) posted gains, while PWSA (-0.32%) and GTI (-0.28%) recorded losses. PPSP, PAS, PEPC, MJQE, and CGSM remained unchanged. On the Growth Board, DBDE and JSL declined by 1.47% and 1.81%, respectively. Total trading volume reached 39,036 shares, with a turnover of KHR 181 million. (Source: YSC Research)
CSX Stocks |
CSX Index
Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
404.06 | 0.06 | 39,036 | 10,837 |
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 | 6,140 | -0.32 | -0.32 | -3.46 | 6,200 | 6,140 | 33,020 | 534 |
GTI | 7,120 | -0.28 | 0.28 | 40.16 | 7,140 | 6,900 | 12,264 | 285 |
PPAP | 13,520 | 0.15 | -0.44 | -2.31 | 13,600 | 13,500 | 3,091 | 280 |
PPSP | 2,050 | 0.00 | -0.49 | -5.53 | 2,070 | 2,050 | 73,223 | 147 |
PAS | 12,140 | 0.00 | -0.16 | 5.02 | 12,200 | 12,060 | 4,111 | 1,041 |
ABC | 6,780 | 0.30 | 0.00 | -10.08 | 6,880 | 6,760 | 245,467 | 2,937 |
PEPC | 2,550 | 0.00 | -1.54 | 5.37 | 2,680 | 2,540 | 1,661 | 191 |
MJQE | 1,980 | 0.00 | 0.00 | -4.81 | 1,990 | 1,970 | 77,114 | 642 |
CGSM | 2,440 | 0.00 | 0.41 | 0.41 | 2,440 | 2,420 | 29,767 | 4,781 |
DBDE | 2,010 | -1.47 | -1.47 | -2.43 | 2,050 | 2,010 | 9,461 | 37 |
JSL | 2,710 | -1.81 | -1.81 | -20.76 | 2,800 | 2,710 | 52,214 | 70 |
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 | 7.42 | 0.53 | 1.68 | 14.84 |
GTI | 2Q25 | 29 | 7,023 | 244.34 | 1.01 | 0.87 | 40.01 |
PPAP | 1Q25 | 2,951 | 22,115 | 4.58 | 0.61 | 1.57 | 3.95 |
PPSP | 2Q25 | 735 | 4,376 | 2.79 | 0.47 | 0.94 | 2.07 |
PAS | 1Q25 | 1,212 | 8,224 | 10.02 | 1.48 | 2.18 | 7.69 |
ABC | 2Q25 | 1,460 | 14,410 | 4.64 | 0.47 | 0.81 | NA |
PEPC* | 3Q25 | -1,445 | -1,303 | NA | NA | 3.05 | NA |
MJQE | 2Q25 | 45 | 340 | 43.83 | 5.82 | 3.87 | 12.70 |
CGSM | 2Q25 | 25 | 618 | 99.32 | 3.95 | 6.97 | 19.35 |
JSL | 2Q25 | -82 | 492 | NA | 5.50 | 20.05 | 33.85 |
DBDE | 2Q25 | 147 | 1,933 | 13.71 | 1.04 | 0.31 | 7.15 |
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% | 2,292 |
ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,334 |
ABC32C | 0 | 0.0 | - - | khAA | Subordinated Bond | 7.50% p.a. | 2,525 |
CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 2,954 |
CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,158 |
CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,605 |
GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 783 |
PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,345 |
RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,553 |
RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 800 |
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) | 2,627 |
SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,279 |
SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,279 |
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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