Cambodia's exports to the U.S. exceed $9 billion mark
| News Highlights |
Economy and Industry
Cambodia's exports to the U.S. exceed $9 billion mark Cambodia exported over $9 billion worth of goods to the US in the first nine months of 2025, reaffirming Washington's position as the Kingdom's largest export market. Bilateral trade between the two countries totalled $9.56 billion during the January-September period, a 22.6% increase compared to the same period last year. Exports to the US reached $9.28 billion, up 22% YoY, while imports from the US totalled $283.63 million, a sharp 46.9% increase over 2024. The US remains Cambodia's top export destination, followed by Vietnam, China, Japan, and Canada. The sustained trade growth highlights the deepening economic ties between the two nations, despite global markets facing headwinds. Government officials have stepped up efforts to diversify exports, improve logistics, and ensure compliance with international standards to maintain the Kingdom's competitive edge in the US market. (Source: Khmer Times)
MEF and JICA sign partnership to support utility development in Phnom Penh The Ministry of Economy and Finance (MEF) and the Japan International Cooperation Agency (JICA) signed two loan agreements totaling 44.4 billion yen ($300 million) to expand water supply facilities and enhance electricity stability in Phnom Penh. The loans will fund the Nirodh Water Supply Expansion Project and the Phnom Penh City Transmission and Distribution System (Phase 3), supporting Cambodia's sustainable growth and renewable energy integration. The signing also marked 70 years of Cambodia-Japan diplomatic relations and underscored Japan's continued commitment to Cambodia's infrastructure development. (Source: Khmer Times)
Singaporean and Hong Kong firms consider investing in Cambodia Cambodian Deputy Prime Minister Sun Chanthol and Minister of Education Hangchuon Naron met with senior government officials to discuss investment opportunities in the health and education sectors. The meeting, joined by Na Wu Beng, Chairman of Yeo Hiap Seng Limited (YHS), and Health Minister Chheang Ra, focused on YHS's Corporate Social Responsibility (CSR) initiatives, including mobile clinics and nutritional support for schoolchildren in several provinces. Chanthol praised the government's swift action to assess the feasibility of mobile clinics delivering modern healthcare to remote areas and welcomed YHS's nutrition program for its role in combating malnutrition and improving learning outcomes. The Royal Government affirmed its commitment to coordinate and support the feasibility study and project implementation to ensure sustainability and tangible social impact. (Source: Khmer Times)
Corporate News
ARC Accelerator drives innovation among Cambodia's young talents Four innovative startups have been chosen from over 80 applicants to join the ARC Startup Accelerator Programme, with a wildcard slot awarded to the top venture at the ARC Conference 2025. The three-month program provides mentorship, resources, and support to accelerate growth and guide the startups through the next phase of their journey. The selected startups include Sofea Moly Agro-Retails & Trading Co., Ltd, which connects Cambodian agro-producers and MSMEs to national, regional, and global markets through e-commerce, m-commerce, and modern retail outlets. Agro Nature develops organic fertiliser and bio-pesticide for eco-friendly agriculture in Cambodia, Finluy is an AI-powered financial marketplace, and Quicknews is a creator-first platform that delivers fast, verified short-video news to engage Cambodian Gen Z and fight fake news. (Source: Kiripost)
Stock Market
CSX index slips 0.15% as trading volume reaches 61,000 shares On 16 October 2025, the CSX Index edged down 0.15% to close at 403.5 points. On the Main Board, PEPC (+3.92%) and PWSA (+0.33%) posted gains, while PAS (-0.49%), CGSM (-0.41%), and PPAP (-0.15%) recorded losses. GTI, PPSP, ABC, and MJQE remained unchanged. On the Growth Board, DBDE rose 1.00%, while JSL declined 2.21%. Total trading volume reached 61,377 shares, with a turnover of KHR 324 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 403.46 | -0.15 | 61,377 | 10,821 |
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 | 0.00 | -3.14 | 6,200 | 6,140 | 39,670 | 536 |
| GTI | 7,120 | 0.00 | 0.28 | 40.16 | 7,140 | 6,900 | 13,480 | 285 |
| PPAP | 13,500 | -0.15 | -0.59 | -2.46 | 13,600 | 13,500 | 4,045 | 279 |
| PPSP | 2,050 | 0.00 | -0.49 | -5.53 | 2,070 | 2,050 | 81,295 | 147 |
| PAS | 12,080 | -0.49 | -0.66 | 4.50 | 12,200 | 12,060 | 5,993 | 1,036 |
| ABC | 6,780 | 0.00 | 0.00 | -10.08 | 6,880 | 6,760 | 273,356 | 2,937 |
| PEPC | 2,650 | 3.92 | 2.32 | 9.50 | 2,680 | 2,540 | 1,886 | 199 |
| MJQE | 1,980 | 0.00 | 0.00 | -4.81 | 1,990 | 1,970 | 83,409 | 642 |
| CGSM | 2,430 | -0.41 | 0.00 | 0.00 | 2,440 | 2,420 | 37,961 | 4,761 |
| DBDE | 2,030 | 1.00 | -0.49 | -1.46 | 2,050 | 2,010 | 9,470 | 37 |
| JSL | 2,650 | -2.21 | -3.99 | -22.51 | 2,800 | 2,650 | 55,207 | 68 |
| 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 | 244.34 | 1.01 | 0.87 | 40.01 |
| PPAP | 1Q25 | 2,951 | 22,115 | 4.57 | 0.61 | 1.57 | 3.94 |
| PPSP | 2Q25 | 735 | 4,376 | 2.79 | 0.47 | 0.94 | 2.07 |
| PAS | 1Q25 | 1,212 | 8,224 | 9.97 | 1.47 | 2.17 | 7.66 |
| ABC | 2Q25 | 1,460 | 14,410 | 4.64 | 0.47 | 0.81 | NA |
| PEPC* | 3Q25 | -1,445 | -1,303 | NA | NA | 3.17 | 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 | 5.38 | 19.61 | 33.41 |
| 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% | 2,290 |
| ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,332 |
| ABC32C | 0 | 0.0 | - - | khAA | Subordinated Bond | 7.50% p.a. | 2,523 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 2,952 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,156 |
| CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,603 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 781 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,343 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,551 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 798 |
| 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) | 2,625 |
| SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,277 |
| SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,277 |
| 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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