SECC launches Excellence Program for SMEs

The Securities and Exchange Commission of Cambodia (SECC) launched its “Excellence Program” today with the aim to help companies develop the capacity to prepare adequate financial reports, establish proper accounting principles and learn about how the growth board can provide additional funding sources. Designed for owners and top management of local companies, it is a three-day seminar that will chose five companies for in-house consultation by the SECC and underwriting firms. Lamun Soleil, director of market operations at the CSX, said that SMEs face difficulties in listing due to a lack of qualified personnel, corporate governance standards and smooth internal financial policies. He added that SMEs generally face more upfront costs to list as they have to restructure a company to be compliant. (Source: Phnom Penh Post)