To complete unfinished projects in Sihanoukville, $1B is required
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 456.98 | -0.76 | 60,633 | 12,257 |
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 | 7,300 | -0.54 | -1.88 | -3.44 | 7,460 | 7,300 | 61,127 | 635 |
| GTI | 2,950 | -0.67 | -3.28 | -22.37 | 3,090 | 2,950 | 56,941 | 118 |
| PPAP | 13,920 | 0.00 | -1.42 | -0.57 | 14,180 | 13,920 | 3,920 | 288 |
| PPSP | 2,190 | 0.00 | -0.90 | -8.37 | 2,220 | 2,180 | 36,779 | 157 |
| PAS | 12,240 | 0.16 | -1.29 | -8.11 | 12,420 | 12,200 | 18,145 | 1,050 |
| ABC | 10,000 | 0.00 | -0.20 | -7.58 | 10,020 | 10,000 | 750,128 | 4,332 |
| PEPC | 2,400 | -3.61 | -6.61 | -23.81 | 2,610 | 2,300 | 8,947 | 180 |
| MJQE | 2,090 | -0.95 | -3.24 | NA | 2,170 | 2,090 | 141,776 | 677 |
| CGSM | 2,460 | -1.60 | -6.82 | NA | 2,640 | 2,400 | 387,412 | 4,820 |
| DBDE | 2,160 | 0.93 | -0.46 | -9.62 | 2,190 | 2,140 | 28,870 | 40 |
| JSL | 2,760 | -1.08 | -13.48 | -44.35 | 3,280 | 2,750 | 18,267 | 71 |
| 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 | 6.24 | 0.48 | 1.73 | 8.85 |
| GTI | 2Q23 | 95 | 7,181 | 30.91 | 0.41 | 0.32 | 11.95 |
| PPAP* | 2Q23 | 2,412 | 38,041 | 5.77 | 0.37 | 2.06 | 4.97 |
| PPSP | 2Q23 | 489 | 3,576 | 4.48 | 0.61 | 0.69 | 3.89 |
| PAS* | 2Q23 | 1,191 | 11,029 | 10.28 | 1.11 | 3.16 | 8.06 |
| ABC | 2Q23 | 1,608 | 12,485 | 6.22 | 0.80 | 1.33 | NA |
| PEPC** | 2Q23 | -312 | 1,220 | NA | 1.97 | 2.26 | 32.00 |
| MJQE | 2Q23 | 29 | 289 | 72.54 | 7.22 | 5.51 | 17.36 |
| CGSM | 2Q23 | 98 | 392 | 25.21 | 6.27 | 6.18 | 14.83 |
| JSL | 2Q23 | -239 | 185 | NA | 14.88 | NA | NA |
| DBDE | 2Q23 | 76 | 1,919 | 28.54 | 1.13 | 0.53 | 11.75 |
| 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% | 1,532 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 561 |
| RRC32A | 0 | 0.0 | - - | N/A | Guaranteed | 7.00% | 3,302 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating* | 1,549 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 3,376 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 1,064 |
| *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 | 16.0 | - | - |
| Outstanding (KHR'bn) | 86.3 | 104.0 | 16.0 | - | - |
| Issuance ('K units, Latest) | 28.0 | 28.0 | 8.0 | - | - |
| Coupon rate (Latest) | 3.48% | 4.00% | 4.50% | - | - |
| Successful yield (Latest) | 3.70% | 4.28% | 5.20% | - | - |
| Latest bidding | 45,126 | 45,154 | 45,189 | - | - |
| *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
CSX index down 0.76% as PWSA, GTI, PPEC, MJQE, and CGSM fall The CSX index decreased 0.76% to 457.0 points on September 26, 2023. There were declines in PWSA, GTI, PPEC, MJQE, and CGSM of 0.54%, 0.67%, 3.61%, 0.95%, and 1.60%, respectively. There were no changes from the previous closing price for PPAP, PPSP, and ABC. The only main board stock to increase is PAS, up 0.16%. JSL decreased by 1.08% while DBDE increased by 0.93% on the growth board. The trading volume decreased by 36.0% from the day's closing volume to 60,633 shares, or KHR 334 million. (Source: YSC Research)
Economy and Industry
To complete unfinished projects in Sihanoukville, $1B is required The Cambodian government is planning to invest at least $1 billion in completing unfinished buildings in the coastal city of Sihanoukville, following a standstill in real estate and related businesses due to the Covid-19 pandemic in 2019. The government plans to develop over 360 projects in the province into a model multi-purpose special economic zone, as set out in the Cambodian Industrial Development Policy 2015-2025. The working group is working on classifying unfinished projects into different categories before implementing project zoning to guide re-investors. The government also has incentive policies for existing investors who can continue construction until completion. The government plans to expand national roads, such as the $2 billion Phnom Penh-Sihanoukville Expressway, to support the implementation of the master plan. (Source: Khmer Times)
Over 8.28 tonnes of gold have been produced in Cambodia to date Since commercial mining began in June 2021, Cambodia has produced more than 8.28 tonnes of dore bars with 90 percent pure gold solution, a senior official reported on Monday. According to Ung Dipola, Director-General of the General Department of Mineral Resources under the Ministry of Mines and Energy, there are currently six gold mining companies operating in the nation. As of Sept. 22, 2023, the six companies had produced 919 gold bars, weighing 8,288 kilograms and the government received more than 13 million dollars in royalties from those mining companies. In June 2021, the Southeast Asia country started mining for gold in Mondulkiri province's Keo Seima district. (Source: Khmer Times)
Cambodia-India trade rises 7% despite the global economic downturn Cambodia and India have seen a 6.6% year-on-year increase in trade volume, reaching $306.9 million in the first eight months of 2023. Exports to India rose 38.7% to $161.4 million, while imports fell 15.1% to $145.6 million. The Kingdom experienced a trade surplus of $15.8 million. In August, bilateral trade between the two countries totalled $38.4 million, with Cambodia exporting $20.4 million worth of goods and imports rising 14.1% to $15.8 million. The increase in Cambodia's exports is largely due to agricultural products, with both countries' production capacity increasing. Direct flights between Cambodia and India are expected to start early 2024, boosting tourism, trade, and investment. In 2022, trade turnover between the two countries reached $440 million, up 41.4% from $311.24 million in 2021. (Source: The Phnom Penh Post)
Corporate News
CGCC receives an Honorable Mention in the 2023 Global Finance SME Award Credit Guarantee Corporation of Cambodia (CGCC), a state-owned enterprise, has launched several credit guarantee products to support loans extended to MSMEs through its participating Financial Institutions (PFIs). With a credit additionality of approximately USD145mil guaranteed loans, CGCC has supported financing to about 1,700 MSMEs, providing jobs to over 27,000 workers. The impact of CGCC has been steadily growing, with many PFIs seeing the benefits of providing guaranteed loans as a risk-sharing mechanism and for capital management purposes. CGCC has been recognized with an Honorable Mention in the "Product Innovation of the Year" category of the Global SME Finance Awards 2023. (Source: Khmer Times)
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