AMRO forecasts a 5.3% GDP growth for Cambodia in 2023
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 462.38 | 0.00 | 77,596 | 12,401 |
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 | 7,440 | 0.54 | 0.00 | -1.59 | 7,480 | 7,300 | 33,951 | 647 |
| GTI | 3,020 | 0.33 | -0.98 | -20.53 | 3,090 | 3,010 | 53,501 | 121 |
| PPAP | 14,140 | 0.86 | 0.14 | 1.00 | 14,180 | 13,960 | 2,611 | 292 |
| PPSP | 2,210 | 1.38 | 0.00 | -7.53 | 2,250 | 2,180 | 26,333 | 159 |
| PAS | 12,240 | 0.00 | -1.29 | -8.11 | 12,540 | 12,200 | 14,905 | 1,050 |
| ABC | 10,020 | 0.00 | 0.00 | -7.39 | 10,040 | 10,020 | 513,103 | 4,340 |
| PEPC | 2,500 | 0.40 | -2.72 | -20.63 | 2,680 | 2,300 | 6,412 | 187 |
| MJQE | 2,120 | -0.47 | -1.85 | NA | 2,170 | 2,100 | 115,614 | 687 |
| CGSM | 2,510 | 0.40 | -4.92 | NA | 2,770 | 2,400 | 352,268 | 4,918 |
| DBDE | 2,150 | 0.00 | -0.92 | -10.04 | 2,190 | 2,150 | 15,375 | 40 |
| JSL | 2,800 | -0.71 | -12.23 | -43.55 | 3,390 | 2,800 | 14,383 | 72 |
| 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 | 6.36 | 0.49 | 1.77 | 8.91 |
| GTI | 2Q23 | 95 | 7,181 | 31.64 | 0.42 | 0.33 | 12.15 |
| PPAP* | 2Q23 | 2,412 | 38,041 | 5.86 | 0.37 | 2.09 | 5.03 |
| PPSP | 2Q23 | 489 | 3,576 | 4.52 | 0.62 | 0.69 | 3.92 |
| PAS* | 2Q23 | 1,191 | 11,029 | 10.28 | 1.11 | 3.16 | 8.06 |
| ABC | 2Q23 | 1,608 | 12,485 | 6.23 | 0.80 | 1.34 | NA |
| PEPC** | 2Q23 | -312 | 1,220 | NA | 2.05 | 2.36 | 32.46 |
| MJQE | 2Q23 | 29 | 289 | 73.58 | 7.32 | 5.59 | 17.60 |
| CGSM | 2Q23 | 98 | 392 | 25.72 | 6.40 | 6.31 | 15.10 |
| JSL | 2Q23 | -239 | 185 | NA | 15.10 | NA | NA |
| DBDE | 2Q23 | 76 | 1,919 | 28.41 | 1.12 | 0.53 | 11.70 |
| 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 , Green | 7.00% | 1,539 |
| PPCB23B | 0 | 0.0 | - - | N/A | Plain | 6.50% | 3 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 568 |
| RRC32A | 0 | 0.0 | - - | N/A | Guaranteed | 7.00% | 3,309 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating* | 1,556 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 3,383 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 1,071 |
| *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) | 86.3 | 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 | 45,126 | 45,154 | 45,091 | - | - |
| *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
Majority of stocks on CSX main board gain on September 19, MJQE declines On September 19, 2023, the CSX index increased by 0.21% to 462.4 points. There was an increase in PWSA, GTI, PPAP, PPSP, PEPC, and CGSM of 0.54%, 0.33%, 0.86%, 1.38%, 0.40%, and 0.40%, respectively. There are no movements regarding PAS and ABC. MJQE, down 0.47%, is the only stock on the main board to experience declines. On the growth board, JSL is down 0.71% while DBDE is unchanged. At 77,596 shares, or KHR 669 million, the trading volume was down 5.2% from the day before's closing volume. (Source: YSC Research)
Economy and Industry
AMRO forecasts a 5.3% GDP growth for Cambodia in 2023 The ASEAN+3 Macroeconomic Research Office (AMRO) has revised Cambodia's GDP growth to 5.3% for 2023, citing recovery in tourism, non-garment manufacturing, and domestic economic activities. The revised figure was revealed during a meeting between the Deputy Prime Minister and Minister of Economy and Finance (MEF) Aun Pornmoniroth and AMRO's annual mission delegation. The revised GDP growth is a high rate in the region, despite slower garment production and stagnant construction and real estate. AMRO's economic growth updates report (AREO) shows Cambodia's GDP growth has been revised to 5.3% from 5.7% in July and 5.9% in April. The new government aims to strengthen public finance resilience, strengthen the financial sector, and increase Cambodia's competitiveness. (Source: Khmer Times)
In the first eight months, $2.28 billion worth of oil and gas products were imported into Cambodia Cambodia's oil and gas imports decreased by 9.5% from last year to $2.28 billion during January-August, according to a report from the General Department of Customs and Excise. The Ministry of Mines and Energy predicts a rise in demand to 4.8 million tons in 2030, up from 2.8 million tons in 2020. Cambodia currently imports 100% of its petroleum products, mainly from Thailand, Viet Nam, and Singapore. OPEC, the US Energy Information Administration, and the International Energy Agency predict larger market deficits in the next quarter due to tight global supply and rising oil demand. Fresh stimulus measures from Beijing and increased output from Chinese refiners also support the demand outlook. Investors remain cautious ahead of the US Federal Reserve's policy decision, which is expected to hold interest rates steady but remain hawkish. (Source: Khmer Times)
No consensus reaches between employer and employee on minimum wage discussion The National Council on Minimum Wage (NCMW) has failed to reach a consensus on the new minimum wage for garment, travel goods, and bag industries. However, key parties have revised their amounts at a meeting at the Ministry of Labour and Vocational Training (MLVT) headquarters in Phnom Penh. Employers' representatives increased their amount to $201.5, while employees' representatives decreased their amount to $213 and $204 due to not reaching an internal consensus. The next meeting is scheduled for September 28, and the government has set the monthly minimum wage for 2024 at $202. Employers' negotiating team has requested the government to lower logistics costs by 30% to offset the increase, while trade unionists have requested more benefits from the National Social Security Fund to offset living costs. (Source: Khmer Times)
Corporate News
Prince Bank wins Best Commercial Bank and Innovation in Retail Banking Awards four years in a row Prince Bank, a leading Cambodian bank, has been awarded the Best Commercial Bank Cambodia and Best Innovation in Retail Banking awards for four consecutive years by the International Banker. The awards are a testament to the bank's commitment to providing exceptional banking services to its customers. Prince Bank offers a range of commercial banking products and services, including loans, savings, bancassurance, and investment products. The bank has also invested in technology to enhance its mobile banking capabilities, allowing customers to manage transactions and personal finances securely. The bank's commitment to innovation and customer satisfaction has made it a reliable partner for individuals and businesses in Cambodia. (Source: Khmer Times)
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