Cambodia PM wants ASEAN support for building sea cable
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 454.17 | -0.01 | 144,243 | 12,182 |
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 | 7,400 | 1.37 | -0.54 | -2.12 | 7,480 | 7,300 | 24,864 | 644 |
| GTI | 3,050 | 0.00 | 0.00 | -19.74 | 3,090 | 3,040 | 50,853 | 122 |
| PPAP | 14,120 | -0.28 | 0.00 | 0.86 | 14,380 | 13,960 | 1,484 | 292 |
| PPSP | 2,180 | -0.46 | -1.36 | -8.79 | 2,270 | 2,180 | 10,979 | 157 |
| PAS | 12,300 | 0.65 | -0.81 | -7.66 | 12,660 | 12,220 | 7,407 | 1,055 |
| ABC | 10,020 | 0.00 | 0.00 | -7.39 | 10,040 | 10,000 | 206,731 | 4,340 |
| PEPC | 2,480 | 0.00 | -3.50 | -21.27 | 2,870 | 2,300 | 5,288 | 186 |
| MJQE | 2,110 | 0.00 | -2.31 | NA | 2,200 | 2,100 | 79,335 | 684 |
| CGSM | 2,400 | -1.64 | -9.09 | NA | 2,870 | 2,400 | 241,022 | 4,702 |
| DBDE | 2,170 | 0.00 | 0.00 | -9.21 | 2,210 | 2,150 | 6,627 | 40 |
| JSL | 2,940 | -5.16 | -7.84 | -40.73 | 3,500 | 2,860 | 11,633 | 76 |
| 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* | 2Q23 | 1,170 | 15,172 | 6.33 | 0.49 | 1.76 | 8.90 |
| GTI | 2Q23 | 95 | 7,181 | 31.95 | 0.42 | 0.33 | 12.23 |
| PPAP* | 2Q23 | 2,412 | 38,041 | 5.85 | 0.37 | 2.09 | 5.02 |
| PPSP | 2Q23 | 489 | 3,576 | 4.46 | 0.61 | 0.68 | 3.88 |
| PAS* | 2Q23 | 1,191 | 11,029 | 10.33 | 1.12 | 3.18 | 8.09 |
| ABC | 2Q23 | 1,608 | 12,485 | 6.23 | 0.80 | 1.34 | NA |
| PEPC** | 2Q23 | -312 | 1,220 | NA | 2.03 | 2.34 | 32.37 |
| MJQE | 2Q23 | 29 | 289 | 73.24 | 7.29 | 5.57 | 17.52 |
| CGSM | 4Q22 | 85 | 392 | 28.36 | 6.12 | 6.02 | 15.56 |
| JSL | 2Q23 | -239 | 185 | NA | 15.85 | NA | NA |
| DBDE | 2Q23 | 76 | 1,919 | 28.68 | 1.13 | 0.53 | 11.79 |
| NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *Excluding equity of non-common shares for PPWSA, PPAP and PAS; **FY ending in June | |||||||
| Corporate Bonds |
Trading Summary
| Bond Symbol | Trading Vol (Units) | Trading Val (KHR'mn) | Latest Yield | Credit Rating | Bond Feature | Coupon Rate (%) | Days to Maturity |
| GT27A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 1,550 |
| PPCB23B | 0 | 0.0 | - - | N/A | Plain | 6.50% | 14 |
| RMAC25A | 0 | 0.0 | - - | N/A | Plain | 5.50% | 579 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 3,320 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating* | 1,567 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 3,394 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 1,082 |
| *SOFR+3,5% or 5% (take which one is higher); **SOFR+3,5% or 5% (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% (take which one is higher) | |||||||
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 10 Y | 15 Y | |
| Total issuance ('K units) | 128.1 | 104.0 | 8.0 | - | - |
| Outstanding (KHR'bn) | 128.1 | 104.0 | 8.0 | - | - |
| Issuance ('K units, Latest) | 28.0 | 28.0 | 4.0 | - | - |
| Coupon rate (Latest) | 3.48% | 4.00% | 4.50% | - | - |
| Successful yield (Latest) | 3.70% | 4.28% | 5.00% | - | - |
| Latest bidding | 19-Jul-23 | 16-Aug-23 | 14-Jun-23 | - | - |
| *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. | |||||
| News Highlights |
Stock Market
PPAP, PPSP, and CGSM lead CSX index decline On September 8, 2023, the CSX index decreased by 0.53% to 454.2 points. A decrease of 0.28%, 0.46%, and 1.64%, respectively, was seen in PPAP, PPSP, and CGSM. GTI, ABC, PEPC, and MJQE were unchanged, while PWSA and PAS increased by 1.37% and 0.65%, respectively. JSL fell by 5.16% while DBDE's growth board shows no change. 144,243 shares, or KHR 576 million, were traded, which was a 27.9% increase over the previous day's closing volume. (Source: YSC Research)
Economy and Industry
Cambodia PM wants ASEAN support for building sea cable Prime Minister Hun Manet has sought cooperation from ASEAN neighboring countries to construct a submarine electricity transmission from Laos to Singapore. The project requires network infrastructure across Cambodia, Thailand, and Malaysia. The leaders agreed to work together to address remaining issues requiring collaboration from each nation, including socio-economic aspects, security, people-to-people relations, and promoting culture and traditions. Hun Manet also met with Malaysian Prime Minister Dato’ Seri Anwar bin Ibrahim to discuss strengthening bilateral relations, sustainability, and mutual economic development. The submarine infrastructure aims to share green power among ASEAN member countries, as Laos has abundant natural power resources. The project is key to allowing "door to door" renewable energy export from Cambodia directly to Singapore, advancing the implementation of the recently signed 1GW export agreement between the two countries. (Source: Khmer Times)
For effective policy implementation, NBC seeks advice from NGOs The National Bank of Cambodia (NBC) is seeking input from civil society and NGOs to improve the preparation and implementation of its monetary policies. During a meeting with representatives of the Fair Finance Cambodia (FFC) Coalition, NBC Governor Chea Serey emphasized the importance of engaging civil society to ensure the effectiveness of the central bank's policies. The FFC is also urged to disseminate standard loan contracts and contractual terms to grassroots communities. The NBC has been working on enhancing the sustainability of the financial sector, preparing legal frameworks, promoting financial literacy, and incorporating financial lessons in educational curriculums. (Source: Khmer Times)
Agreement reached between Cambodia and the Philippines on a private sector development strategy Cambodia and the Philippines have signed a memorandum of understanding (MoU) to promote collaboration in agriculture and the development of micro, small, and medium enterprises (MSMEs). The agreement was formally sealed during an ASEAN Business and Investment Summit in Jakarta, attended by around 2,000 companies. The MoU aims to stimulate investment and business expansion in both countries, with a particular focus on agriculture and MSMEs as integral members of the ASEAN Economic Community. Prime Minister Hun Manet emphasized the importance of close cooperation, adhering to ASEAN unity and centrality, and deepening economic integration in the region. (Source: The Phnom Penh Post)
Corporate News
Issuer of green bonds Golden Tree reports struggling Q2 results Cambodia's first green bond issuer Golden Tree (GT) reported slow business performance in Q2 2023 due to economic slowdowns, impacting real-estate and construction sectors. Revenue fell 18.9% to 2.6 billion riel, and net profit declined 49.2% YoY to 552.6 million riels. The company's total assets amounted to 139.8 billion riels, down from 144.7 billion riel as at end-December 2021. GT chairman Hong Uy said the company achieved "solid financial performance" in Q2, with a 77% occupancy rate for properties. The company plans to make progress in leasing, increasing the tower's occupancy, and upkeep of its value through additional investment in facilities and amenities. (Source: The Phnom Penh Post)
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