Chinese company express interest to construct airport metro

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CSX index closes lower on October 23, 2023 On October 23, 2023, the CSX index closed at 449.1 points, down 0.74% from the previous day. PAS was the only stock on the main board to gain, with a 0.16% increase. The biggest losers on the main board were ABC (-1.82%), PPAP (-1.14%), MJQE (-0.94%), PWSA (-0.55%), and PPSP (-0.46%). GTI, PEPC, and CGSM closed at the same price as they did the day before. On the growth board, DBDE fell by 0.46% and DBDE surged by 3.15%. A total of 157,895 shares were traded for a total value of KHR 1.193 billion. (Source: YSC Research)

Economy and Industry

Chinese company express interest to construct airport metro Cambodia's Council for the Development of Cambodia (CDC) has revealed plans by Chinese firm Guangzhou Metro Group to connect Phnom Penh with the new international airport. Chairman of Guangzhou Metro Group, Jianlong Ding, expressed optimism about the initiative and highlighted the company's credentials on the metro system. The MRT would connect Phnom Penh to the Takhmao Techo International Airport, set to launch in 2025. The government has proposed a feasibility study for the company to invest in the construction of metro systems in strategic cities, and Prime Minister Hun Manet has mentioned skytrain and subway train projects for the capital city. The Ministry of Public Works and Transport will also invite private investors to explore the possibility of setting up stations at their locations. (Source: Khmer Times)

Indonesian businesses are interested in Cambodia's F&B market Indonesian firms are exploring Cambodia's food and beverage (F&B) sector due to its significant market potential. Khong Guan Group, an Indonesian company, entered the Cambodian market in 2023 with chocolate wafers and plans to introduce new products, including Monde Genji Pie biscuits. The company plans to introduce four flavors of Monde Genji Pie biscuits in Cambodia and plans to introduce new wafer flavors in 2024. Tempeh Azaki, a vegan food company, is also looking to enter the Cambodian market, recognizing it as an essential market within the Asean region. The company is actively seeking distributors in Cambodia, as it believes introducing its sustainable product will contribute to the local economy and promote eco-friendly food practices. Indonesian fast food major Sreeya Sewu is also looking for distributors in Cambodia due to its rapidly growing F&B sector. The surge in popularity of vegan and vegetarian diets reflects a conscious effort to minimize emissions and promote sustainable practices. (Source: Khmer Times)

Cambodia looks into potential new cashew markets Cambodia's cashew industry is aiming to explore new markets globally as part of its trade diversification strategies, according to the Cashew nut Association of Cambodia (CAC). Eight Cambodian food companies, including four registered CAC members, showcased their products at a South Korean food expo. The expo, organized by Gwangju Tourism Organisation, aimed to promote Cambodia's processed products and introduce the potential of the Cambodian cashew crop. Over 300 companies from 10 countries, including Thailand, Vietnam, Hong Kong, China, Singapore, Indonesia, Taiwan, Mongolia, and Russia, represented 450 booths. The CAC is an independent institution established by farmers and cashew processing enterprises, not affiliated with any institutions. Farmers have replanted over seven million seeds, covering nearly 40,000 hectares, after learning about the potential of the new cashew seed called 'M23'. (Source: Khmer Times)

Corporate News

CamGSM dividend payment approved by EGM CamGSM Plc. (Cellcard) has approved a quarterly dividend payment to its shareholders, which was approved through an online Extraordinary General Meeting (EGM) on October 19. The meeting also addressed the amendment of the Memorandum of Articles of Association following the successful Initial Public Offering (IPO) and the distribution of the Guaranteed Minimum Dividend until the next General Meeting. The resolution was a significant business decision to reward shareholders with an attractive seven percent annual Minimum Guaranteed Dividend. Class A (Voting) Shareholders will receive an annual Minimum Guaranteed Dividend of seven percent paid quarterly in four equal portions, subject to being a Cellcard subscriber. The record date for the quarterly part of the dividend will be communicated officially by ACLEDA Bank Plc., the RTP agent of CamGSM Plc. (Source: Khmer Times)

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