IMF sees inflation having similar impacts on poverty in Cambodia and Vietnam

CSX Index

Stock Performance

Valuation Ratios

Stock Market

CSX market index retreats slightly, but posts monthly gain of 0.59%  On Oct 31, 2022, the CSX market index retreated 0.04 points, or 0.01% to 469.76 bouncing back after the sharp increase last week; however, it finished the month up 0.59%. Today's gains are PWSA, PPAP, PPSP and JSL shares, as they rose 0.27%, 0.14%, 0.87% and 2.26% respectively. JSL stock recovered from the heavy drop last friday. Meanwhile, PAS, PEPC, DBDE shares slid 0.31%, 0.32%, 0.42% each. GTI and ABC shares were unchaged. On the main board, only GTI and ABC shares posted a monthly gain of 1.30%, and 1.36%, respectively. The other stocks ended October in red with PPAP shares seeing the biggest monthly loss of 2.78%. On the growth board, JSL jumped 48.2% over the past month, while DBDE shares made a slight montly gain of 0.85%. (Source: Yuanta Securities)

Economy and Industry

Cambodia stays on growth path, set to expand 6.6% Cambodia continues on its high growth path in the post-Covid pandemic scenario and is set to report robust growth this year as well as the next few years, according to the International Monetary Fund (IMF). According to the IMF projections, Cambodia will grow at 5.1 percent in 2022, 6.2 percent in 2023, and 6.6 percent in 2024. The IMF in its "Regional Economic Outlook Report for Asia and Pacific: Sailing into Headwinds," released on Friday attributed the high growth rate of Cambodia to its prudent trade promotion policies. Cambodia has reported strong consumption, growth of services, and export in the first half of 2022, supported by a high vaccination rate, the IMF report said. The Kingdom is also expected to see a faster than expected recovery in the tourism industry. As countries emerge from the pandemic's disruptions, closures, and hardships, output gaps are shrinking and have already closed entirely in many of the region's advanced economies. Most countries have reopened their borders to foreign visitors, and tourist arrivals are on the rise. Domestic consumption also recovered and industrial production performed well amid strong demand for manufacturing exports.(Source: Khmer Times)

IMF sees inflation having similar impacts on poverty in Cambodia and Vietnam The International Monetary Fund (IMF) expects higher food and energy prices to have similar impacts on relative poverty in Cambodia and Vietnam. In its outlook for Asia and the Pacific released in Singapore last week, the IMF also said that the consequences for vulnerable Cambodian and Vietnamese households were likely to be about five times greater than those in China. The IMF estimates relative poverty at about 25 percent in Cambodia, 19 percent in Vietnam and 21 percent in China --based on the proportion of households living below half of median income per capita. Based on household surveys and a July update to its world economic outlook, the IMF said inflation projections suggested that relative poverty might rise by one percentage point in Cambodia and Vietnam but only two-tenths of a point in China. If governments decide to support vulnerable households for income eroded by inflation, the IMF estimates the costs at 0.15 percent of GDP in Cambodia, 0.06 percent in Vietnam, and 0.03 percent in China. The outlook meanwhile found that downside risks from worse-than-expected global economic conditions could shave about a percentage point off growth in the Asia-Pacific region next year, reducing GDP expansion to around 3.5 percent. The estimates are based on three downside risks a deeper-than-expected slowdown in China, a broader global slowdown with economic stagnation in the United States and the euro area, and tighter financial conditions. (Source: Khmer Times)

Follow NBC official exchange rate, taxpayers told The General Department of Tax (GDT) of the Ministry of Economy and Finance has asked tax payers to follow the official exchange rate issued by National Bank of Cambodia (NBC), in a move to strengthen tax collection efficiency. The GDT's move came after tax payers used the exchange rate issued by GDT when paying tax since May this year. GDT said that this was made after meeting with the NBC of the formula in setting exchange rate which reflects the actual market. The NBC started in August to set the official exchange rate for the dollar based on the foreign exchange buying and selling prices in the currency market. The official exchange rate on the National Bank of Cambodia Platform (NBCP) is based on the exchange rate in the currency market the previous day. NBC said the NBCP is highly active now with many banking and financial institutions raising the volume of transactions through it. (Source: Khmer Times)

Corporate News

First Aquarium park open at Siem Reap on November The Angkor Wildlife and Aquarium complex about 30km southeast of Siem Reap town with total investment of more than $70 million is set to open on November 1, which tourism players hope will bring in more visitors to the historically-rich northwestern Cambodian region, for longer stays. The park is in Siem Reap province about 7km northwest of Damdek village. Angkor Wildlife & Aquarium Co Ltd said in a statement that the attraction features aquariums with volumes of more than 10,000 cubic metres housing domestic and imported freshwater and saltwater fish species, as well as a variety of wildlife enclosures for South African tigers, bears, otters, royal turtles and crocodiles. The company's director Meng Hieng previously mentioned that the park would have fish from the Amazon River, Asian elephants, Sumatran tigers, sun bears, Asian small-clawed otters, Javan mongooses, Malayan porcupines, reticulated pythons and Oriental whip snakes. The statement said the establishment will also comprise a floating market, food and beverage venues, and shops selling souvenirs and other goods. The complex will be an exciting, unique day-trip option for national and international travellers to Angkor Archaeological Park "that we've all dreamed of seein"?? offering entertainment with a side of education, it added. Recent media reports indicate that admission to Angkor Wildlife and Aquarium for international visitors will be set at $18 per person or $10 per child ages 2-11, while Cambodians and foreign residents will be offered lower rates at $10 per person or $5 per child, with free entry for children under 2 years old. (Source: The Phnom Penh Post)

Main Board

Growth Board