Cambodia turns to green finance to fund $32.2 billion climate ambitions
| News Highlights |
Economy and Industry
Cambodia turns to green finance to fund $32.2 billion climate ambitions Cambodia aims to cut greenhouse gas emissions by 55% by 2035, requiring $32 billion in funding for climate goals. The National Bank of Cambodia (NBC) and financial institutions are enhancing frameworks to support this ambition through green finance. Notable products include green loans for solar and electric transport, alongside green bonds for larger projects. Challenges such as a lack of ESG commitment and low resources for policy implementation remain. Cambodia is advancing its green finance landscape with the development of a Sustainable Finance Taxonomy and Roadmap. The government is promoting clean energy, evidenced by over 10,000 electric vehicle registrations within nine months. EGE Cambodia is working with local banks to fund renewable energy projects, highlighting green loans as essential for small and medium-sized enterprises (SMEs) to innovate in the clean energy sector. Implementing green financing practices can bolster economic sustainability and inspire broader adoption of renewable solutions in the region. (Source: Kiripost)
Cambodia sees strong yearly growth in electric vehicle adoption, says ministry Mr. Phon Rim, the spokesman for the Ministry of Public Works and Transport, emphasized the rapid global trend in the development of electric vehicles (EVs) and noted a significant annual increase in their registration in Cambodia. He explained that an electric vehicle operates using an electric motor and batteries for energy storage, classifying them into three categories: (1) battery electric vehicles (BEVs), (2) hybrid electric vehicles (HEVs), and (3) plug-in hybrid vehicles (PHEVs). Since the commencement of EV registrations in Cambodia in 2018, which started with only one registered vehicle, the figures have escalated, mirroring the worldwide growth in this sector. As of September 2025, there were 10,568 registered electric vehicles in total, comprising 7,187 electric cars, 671 electric tricycles, and 2,710 electric motorcycles. (Source: Khmer Times)
CDC launches plan to drive expansion in electronics and agro-industry The initiative supports the Royal Government of Cambodia's vision for transitioning from a labor-intensive economy to a skill-based, high-value model, aiming for upper-middle-income status by 2030 and high-income status by 2050. The Council for the Development of Cambodia (CDC) is developing an investment roadmap targeting economic diversification by attracting Foreign Direct Investment (FDI) in high-value sectors, especially electronics and agro-industry. CDC Secretary General Chea Vuthy chaired a meeting to review the roadmap's draft, focusing on refining the framework and incorporating feedback from the Investment Committee of Cambodia. This draft is intended to guide investment attraction strategies, emphasizing the electronics and agro-industry sectors to diversify Cambodia's industrial base. The roadmap seeks to enhance institutional effectiveness and the government's capacity to attract private investment. In the first half of 2025, Cambodia approved 546 new investment projects totaling $7.8 billion, with approximately 68% - around $5.3 billion - invested in the manufacturing sector and $405 million in agro-industry, indicating the country's commitment to economic diversification and improved competitiveness in global markets. (Source: Khmer Times)
Corporate News
'BottleBoTX' Season 4 marks another milestone in fostering young technopreneurs Awards were presented at Khmer Enterprise's "Technopreneur Battlebotx" Season 4, held on October 25-26, 2025, at the American University of Phnom Penh. The event featured over 30 youth teams collaborating with various industry partners to promote entrepreneurial thinking and technological skills through hands-on training and a competitive environment focused on robotic prototypes. Participants received mentorship, materials, and used 3D printing for robot construction. H.E. Dr. Chhieng Vanmunin emphasized the royal government's commitment to advancing technology through research and innovation. The competition recognized three champion teams with awards and cash prizes, encouraging all participants to pursue knowledge and professional growth for the nation's future. (Source: Cambodia Investment Review)
Stock Market
CSX index slightly declines amid mixed main board performance On 30 October 2025, the CSX index declined 0.07% to close at 403.7 points. On the Main Board, PPSP (+0.99%), PEPC (+0.40%), ABC (+0.30%), and PAS (+0.17%) posted gains, while CGSM (-0.41%) recorded a loss. PWSA, GTI, PPAP, and MJQE remained unchanged. On the Growth Board, DBDE was unchanged, while JSL rose by 4.80%. Total trading volume reached 128,676 shares, with a turnover of KHR 811 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 403.68 | -0.07 | 128,676 | 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 | 6,140 | 0.00 | -0.32 | -3.46 | 6,180 | 6,140 | 356,040 | 534 |
| GTI | 7,080 | 0.00 | -0.28 | 39.37 | 7,140 | 6,900 | 167,980 | 283 |
| PPAP | 13,500 | 0.00 | -0.59 | -2.46 | 13,600 | 13,480 | 6,975 | 279 |
| PPSP | 2,050 | 0.99 | -0.49 | -5.53 | 2,060 | 2,030 | 468,781 | 147 |
| PAS | 12,120 | 0.17 | -0.33 | 4.84 | 12,200 | 12,080 | 12,486 | 1,040 |
| ABC | 6,780 | 0.30 | 0.00 | -10.08 | 6,880 | 6,740 | 460,254 | 2,937 |
| PEPC | 2,510 | 0.40 | -3.09 | 3.72 | 2,650 | 2,500 | 4,453 | 188 |
| MJQE | 1,970 | 0.00 | -0.51 | -5.29 | 1,990 | 1,960 | 182,191 | 638 |
| CGSM | 2,440 | -0.41 | 0.41 | 0.41 | 2,450 | 2,420 | 71,829 | 4,781 |
| DBDE | 2,010 | 0.00 | -1.47 | -2.43 | 2,040 | 2,000 | 18,930 | 37 |
| JSL | 2,840 | 4.80 | 2.90 | -16.96 | 2,840 | 2,650 | 57,819 | 73 |
| 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 | 242.97 | 1.01 | 0.86 | 39.85 |
| 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 | 10.00 | 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 | 3.01 | NA |
| MJQE | 2Q25 | 45 | 340 | 43.61 | 5.79 | 3.85 | 12.64 |
| CGSM | 2Q25 | 25 | 618 | 99.32 | 3.95 | 6.97 | 19.35 |
| JSL | 2Q25 | -82 | 492 | NA | 5.77 | 21.02 | 34.80 |
| 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% | 2,276 |
| ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,318 |
| ABC32C | 0 | 0.0 | - - | khAA | Subordinated Bond | 7.50% p.a. | 2,509 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 2,938 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,142 |
| CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,589 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 767 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,329 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,537 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 784 |
| 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) | 2,611 |
| SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,263 |
| SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,263 |
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 5 Y | 10 Y | |
| Total issuance ('K units) | 238.1 | 312.0 | 384.8 | 18.0 | 0.0 |
| Outstanding (KHR'bn) | 58.0 | 208.0 | 384.8 | 18.0 | 0.0 |
| Issuance ('K units, Latest) | 34.0 | 0.0 | 157.5 | 8.0 | 0.0 |
| Coupon rate (Latest) | 2.70% | 3.20% | 3.40% | 4.34% | 4.60% |
| Successful yield (Latest) | 3.25% | - | 3.90% | 5.00% | - |
| Latest bidding | 23-Apr-25 | 21-May-25 | 22-Oct-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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