Cambodia introduces super app for tourism services
| News Highlights |
Economy and Industry
Cambodia introduces super app for tourism services Cambodia is set to launch a tourism super app designed to boost tourist arrivals and attract investors by enhancing digital services. This initiative is a collaboration between the Tourism Ministry, Samadhi Property and Hospitality Co Ltd, and Atmosphere Core Pte Ltd, which together aim to significantly advance the country's digital transformation in the tourism sector. The app is intended to provide an integrated digital experience, promoting destinations and enhancing visitor experiences, thereby improving Cambodia's competitive edge in the global tourism market. Tourism Minister Huot Hak engaged with Meas Sophearoth, Chairwoman of the Board of Directors of Samadhi and Atmosphere Core, to discuss major investment projects in the hotel and hospitality sector. During the meeting, Hak expressed gratitude for the companies' contributions to the development of tourism and hospitality in Cambodia and expressed support for initiatives aimed at expanding the country's tourism outreach. He also emphasized collaboration with the private sector for joint promotional efforts, including participation in international tourism events and familiarization trips. (Source: Khmer Times)
Cambodia to receive $50M from ADB to enhance finance sector and digital infrastructure Cambodia has secured a $50 million loan from the Asian Development Bank (ADB) to enhance its financial sector and digital infrastructure while addressing regulation, market access, and financial literacy gaps. This loan supports both banking and nonbanking institutions, and aims to bolster financial stability and inclusion through the Inclusive and Sustainable Finance Development Programme. Key initiatives include strengthening the regulatory environment, plans for fintech and cryptocurrency regulations, and promoting financial education. The programme also seeks to establish a green finance working group and improve sustainability disclosures. Despite progress, Cambodia's financial sector faces challenges such as limited market depth and low financial literacy, with national debt reported at $12.67 billion by mid-2025. (Source: Kiripost)
Three international airlines to begin flights to Siem Reap The increase in international flights to Siem Reap Angkor International Airport (SAI) reflects Cambodia's successful 'open-sky' policy and improved facilities. Three new airlines - Firefly Airlines, T'way Air, and Air Busan - are set to commence operations, boosting the total to 15 carriers. Firefly will start flights from Kuala Lumpur on November 27, while T'way Air and Air Busan are low-cost airlines from South Korea. The Secretary of State and Spokesman of the State Secretariat of Civil Aviation highlighted the connection to government initiatives. Additionally, SAI, which can accommodate long-haul flights and up to 12 million passengers annually, experienced a 14% increase in passengers in 2023, with 5.66 million reported from January to October. (Source: Khmer Times)
Corporate News
FTB introduces new digital platforms for business clients Foreign Trade Bank of Cambodia (FTB) has launched new digital channels for business customers, including the "FTB Business Mobile App" and "Corporate Internet Banking," enhancing access to online banking. Designed for SMEs and large corporations, the mobile app is available for free on major app stores. Users can also access Internet banking through the FTB website, with onboarding available at branches or via customer support. FTB's CEO, Mr. Dith Sochal, emphasized the focus on fast, secure, and convenient banking solutions available 24/7. Key features include a comprehensive dashboard, local and international fund transfers, bulk processing for payroll, multi-layer approval workflows, enhanced security, and various banking services. This initiative aims to streamline business banking operations and support sustainable growth, reinforcing FTB's role as a trusted local bank since 1979. (Source: Khmer Times)
Stock Market
CSX slips 0.28% as main board shows mixed movements On 24 November 2025, the CSX Index fell 0.28% to close at 413.4 points. On the Main Board, GTI (+1.45%), PEPC (+0.37%), and PAS (+0.16%) recorded gains, while ABC (-0.57%), PPSP (-0.48%), CGSM (-0.40%), and PPAP (-0.15%) posted losses. PWSA and MJQE remained unchanged. On the Growth Board, DBDE and JSL also remained unchanged. Total trading volume reached 61,226 shares, with a turnover of KHR 217 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 413.38 | -0.28 | 61,226 | 11,087 |
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 | 6,220 | 0.00 | 0.97 | -2.20 | 6,220 | 6,140 | 42,693 | 541 |
| GTI | 7,020 | 1.45 | -0.57 | 38.19 | 7,100 | 6,920 | 41,740 | 281 |
| PPAP | 13,740 | -0.15 | 1.63 | -0.72 | 13,800 | 6,220 | 7,669 | 284 |
| PPSP | 2,090 | -0.48 | 1.95 | -3.69 | 2,100 | 2,030 | 319,714 | 150 |
| PAS | 12,340 | 0.16 | 1.65 | 6.75 | 12,360 | 12,100 | 5,584 | 1,058 |
| ABC | 7,000 | -0.57 | 3.55 | -7.16 | 7,180 | 6,740 | 543,088 | 3,032 |
| PEPC | 2,680 | 0.37 | 6.77 | 10.74 | 2,680 | 2,500 | 2,074 | 201 |
| MJQE | 1,980 | 0.00 | 0.00 | -4.81 | 1,980 | 1,960 | 130,975 | 642 |
| CGSM | 2,500 | -0.40 | 1.63 | 2.88 | 6,220 | 2,430 | 53,317 | 4,898 |
| DBDE | 2,140 | 0.00 | 5.94 | 3.88 | 2,180 | 2,000 | 24,589 | 40 |
| JSL | 2,680 | 0.00 | -3.94 | -21.64 | 2,840 | 2,680 | 12,590 | 69 |
| 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 | 7.52 | 0.54 | 1.70 | 14.89 |
| GTI | 2Q25 | 29 | 7,023 | 240.91 | 1.00 | 0.86 | 39.61 |
| PPAP | 1Q25 | 2,951 | 22,115 | 4.66 | 0.62 | 1.59 | 4.01 |
| PPSP | 2Q25 | 735 | 4,376 | 2.84 | 0.48 | 0.96 | 2.12 |
| PAS | 1Q25 | 1,212 | 8,224 | 10.18 | 1.50 | 2.22 | 7.77 |
| ABC | 2Q25 | 1,460 | 14,410 | 4.79 | 0.49 | 0.84 | NA |
| PEPC* | 3Q25 | -1,445 | -1,303 | NA | NA | 3.21 | NA |
| MJQE | 2Q25 | 45 | 340 | 43.83 | 5.82 | 3.87 | 12.70 |
| CGSM | 2Q25 | 25 | 618 | 101.76 | 4.04 | 7.14 | 19.77 |
| JSL | 2Q25 | -82 | 492 | NA | 5.44 | 19.83 | 33.63 |
| DBDE | 2Q25 | 147 | 1,933 | 14.60 | 1.11 | 0.33 | 7.46 |
| 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% | 2,251 |
| ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,293 |
| ABC32C | 0 | 0.0 | - - | khAA | Subordinated Bond | 7.50% p.a. | 2,484 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 2,913 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,117 |
| CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,564 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 742 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,304 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,512 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 759 |
| 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) | 2,586 |
| SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,238 |
| SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,238 |
| 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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