Cambodia and Austria agree to strengthen trade relations
News Highlights |
Economy and Industry
Cambodia and Austria agree to strengthen trade relations Cambodia and Austria have reaffirmed their commitment to strengthen and expand bilateral trade cooperation, focusing on key sectors such as tourism, agriculture, industry, and logistics. The decision was made during a meeting between Tekreth Kamrang, Secretary of State at the Ministry of Commerce, and Michael Friedl, Commercial Counsellor of Austria and Head of Advantage Austria in Cambodia. Kamrang highlighted Cambodia's potential in tourism and agriculture, as well as garment, footwear, and bicycle industries. The government's focus on promoting domestic industrial connectivity through backward linkages aims to strengthen value chains and increase competitiveness. The Secretary of State proposed establishing a joint cooperation framework between the two commerce ministries, while Friedl expressed strong interest from Austrian businesses in expanding trade and investment with Cambodian partners. Both sides agreed that greater private sector engagement will drive resilient, sustainable, and environmentally responsible economic growth. (Source: Khmer Times)
Cambodia launches major water industry expo to promote clean water and sustainability Cambodia has held its largest-ever international water industry exhibition and conference, aiming to accelerate the country's progress towards achieving Sustainable Development Goal 6.1: universal access to clean and affordable water by 2030. The three-day event, held at the Koh Pich Exhibition and Convention Center, is organized by the Ministry of Industry, Science, Technology and Innovation (MISTI) in partnership with the Cambodian Water Supply Association (CWA) and Informa Markets. Minister Hem Vanndy emphasized the importance of access to safe, sustainable, and affordable water for Cambodia's economic and social development. The Cambodian clean water network has expanded to serve over 1.54 million households, with private operators contributing around 36% of total production. The event provides a unique platform for local and international firms to showcase cutting-edge technologies and foster partnerships, supporting Cambodia's water operators in modernizing their systems, improving efficiency, and ensuring long-term sustainability. (Source: Cambodia Investment Review)
RGPPSEZ exports reach $1.5B, aiming for $2B milestone Royal Group Phnom Penh Special Economic Zone (RGPPSEZ) has reported robust export performance for the first nine months of 2025, reaching a total export value of $1.5 billion as of September. The zone has maintained uninterrupted production and logistics operations, ensuring its international tenants can continue to serve global markets without major disruption. Exports to Thailand and the US have remained stable, with no significant declines observed since border tensions began in June and the tariff measures were reinstated by the US earlier this year. RGPPSEZ has also stepped up efforts to support domestic employment, recruiting more than 10,000 workers since June, many of whom had returned from Thailand due to the conflict. The zone's leadership expressed gratitude to Prime Minister Hun Manet for his strong leadership in promoting social and economic development, especially within the industrial sector. (Source: Khmer Times)
Corporate News
Etihad Airways lands in Phnom Penh, opening a new international gateway for Cambodia Etihad Airways has launched its first-ever flights to Phnom Penh, Cambodia, marking a significant milestone in the airline's global expansion. The sold-out inaugural flight landed at the newly opened Techo International Airport, linking Abu Dhabi to one of Southeast Asia's fastest-growing tourism and investment destinations. The new service adds Phnom Penh as Etihad's 83rd destination worldwide and its ninth new route in 2025, with 21 additional routes planned by year-end. The route will initially operate four times weekly using Etihad's new Airbus A321LR, increasing to six flights per week from November 1, 2025. The new route underscores Etihad's commitment to expanding in Southeast Asia and connecting Cambodia's dynamic economy with global markets. The new route is operated by Etihad's next-generation A321LR, configured with three cabin classes, including the airline's first-ever narrowbody First Suites. From Abu Dhabi, travelers gain access to Zayed International Airport, offering smooth transit options to destinations across the Middle East, Europe, and Africa. (Source: Cambodia Investment Review)
Stock Market
CSX index rises slightly on gains in PAS and CGSM On 17 October 2025, the CSX Index edged up 0.15% to close at 404.1 points. On the Main Board, PAS (+0.50%) and CGSM (+0.41%) posted gains, while PEPC (-4.15%) and GTI (-0.28%) recorded losses. PWSA, PPAP, PPSP, ABC, and MJQE remained unchanged. On the Growth Board, DBDE was unchanged, while JSL rose 3.02%. Total trading volume reached 402,520 shares, with a turnover of KHR 1.195 billion. (Source: YSC Research)
CSX Stocks |
CSX Index
Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
404.05 | 0.15 | 402,520 | 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 | 6,160 | 0.00 | 0.00 | -3.14 | 6,200 | 6,140 | 43,178 | 536 |
GTI | 7,100 | -0.28 | 0.00 | 39.76 | 7,140 | 6,900 | 66,721 | 284 |
PPAP | 13,500 | 0.00 | -0.59 | -2.46 | 13,600 | 13,500 | 5,075 | 279 |
PPSP | 2,050 | 0.00 | -0.49 | -5.53 | 2,070 | 2,050 | 392,700 | 147 |
PAS | 12,140 | 0.50 | -0.16 | 5.02 | 12,200 | 12,060 | 7,448 | 1,041 |
ABC | 6,780 | 0.00 | 0.00 | -10.08 | 6,880 | 6,760 | 300,713 | 2,937 |
PEPC | 2,540 | -4.15 | -1.93 | 4.96 | 2,680 | 2,540 | 2,006 | 190 |
MJQE | 1,980 | 0.00 | 0.00 | -4.81 | 1,990 | 1,970 | 86,801 | 642 |
CGSM | 2,440 | 0.41 | 0.41 | 0.41 | 2,440 | 2,420 | 38,973 | 4,781 |
DBDE | 2,030 | 0.00 | -0.49 | -1.46 | 2,040 | 2,010 | 11,279 | 37 |
JSL | 2,730 | 3.02 | -1.09 | -20.18 | 2,800 | 2,650 | 55,622 | 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 | 7.45 | 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 | 4.57 | 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 | 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 | 3.04 | 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 | 5.54 | 20.20 | 34.00 |
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% | 2,289 |
ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,331 |
ABC32C | 0 | 0.0 | - - | khAA | Subordinated Bond | 7.50% p.a. | 2,522 |
CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 2,951 |
CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,155 |
CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,602 |
GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 780 |
PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,342 |
RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,550 |
RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 797 |
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) | 2,624 |
SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,276 |
SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,276 |
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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