MoC and NBC urges Khmer Riel label on products
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 416.4 | 0.47 | 98,726 | 11,168 |
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 | 7,380 | 0.00 | 5.43 | 1.37 | 7,380 | 7,000 | 113,474 | 642 |
| GTI | 2,300 | 0.44 | 2.22 | -19.01 | 2,350 | 2,180 | 59,050 | 92 |
| PPAP | 13,340 | -0.60 | 2.93 | -4.71 | 13,460 | 12,680 | 11,115 | 276 |
| PPSP | 2,230 | 0.45 | 8.78 | 2.29 | 2,230 | 2,030 | 372,446 | 160 |
| PAS | 12,540 | 0.32 | 0.97 | -0.32 | 12,540 | 12,300 | 3,327 | 1,076 |
| ABC | 7,640 | 0.26 | 0.53 | -24.06 | 7,960 | 7,420 | 1,628,177 | 3,309 |
| PEPC | 2,290 | 2.69 | 7.51 | -16.42 | 2,400 | 2,130 | 6,375 | 172 |
| MJQE | 2,040 | -0.49 | -7.27 | -4.23 | 2,230 | 2,040 | 948,655 | 661 |
| CGSM | 2,440 | 0.83 | 2.52 | -7.22 | 2,470 | 2,370 | 238,073 | 4,781 |
| DBDE | 2,190 | 0.46 | 4.78 | 2.34 | 2,200 | 2,080 | 116,733 | 40 |
| JSL | 4,320 | 8.82 | 15.20 | -1.82 | 4,320 | 3,680 | 17,213 | 111 |
| 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* | 4Q23 | 1,456 | 16,034 | 5.07 | 0.46 | 1.65 | 8.48 |
| GTI | 4Q23 | 109 | 7,145 | 21.11 | 0.32 | 0.28 | 9.88 |
| PPAP* | 4Q23 | 1,534 | 38,520 | 8.70 | 0.35 | 1.94 | 4.81 |
| PPSP | 4Q23 | 451 | 3,530 | 4.94 | 0.63 | 0.63 | 3.77 |
| PAS* | 4Q23 | 1,422 | 11,333 | 8.82 | 1.11 | 2.95 | 7.66 |
| ABC | 4Q23 | 1,207 | 13,033 | 6.33 | 0.59 | 0.97 | NA |
| PEPC** | 4Q23 | -477 | 842 | NA | 2.72 | 4.02 | 64.06 |
| MJQE | 4Q23 | 59 | 297 | 34.65 | 6.88 | 4.42 | 13.68 |
| CGSM | 4Q23 | 166 | 563 | 14.69 | 4.33 | 6.40 | 15.41 |
| JSL | 4Q23 | 274 | 593 | 15.75 | 7.28 | 1.61 | NA |
| DBDE | 4Q23 | 221 | 1,883 | 9.92 | 1.16 | 0.47 | 6.56 |
| 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 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability | Floating* | 3,459 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,663 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,288 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 317 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 3,058 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,305 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,132 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 820 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,677 |
| *SOFR +3% or 5.5% , whichever is higher; **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);****Term SOFR + 2.5% | |||||||
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 10 Y | 15 Y | |
| Total issuance ('K units) | 180.1 | 292.0 | 22.0 | - | - |
| Outstanding (KHR'bn) | 80.0 | 292.0 | 22.0 | - | - |
| Issuance ('K units, Latest) | 10.0 | 140.0 | 6.0 | - | - |
| Coupon rate (Latest) | 3.50% | 4.50% | 4.50% | - | - |
| Successful yield (Latest) | 3.85% | 5.13% | 4.75% | - | - |
| Latest bidding | 24-Apr-24 | 20-Mar-24 | 20-Dec-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
CSX index climbs 0.47% with mix trading results On May 27, 2024, the CSX index closed at 416.4 points, up 0.47% from the previous day. The main board showed mixed results: PEPC (+2.69%), CGSM (+0.83%), PPSP (+0.45%), GTI (+0.44%), PAS (+0.32%), and ABC (+0.26%) posted gains, while PPAP (-0.60%) and MJQE (-0.49%) dropped. PWSA remained unchanged. On the growth board, both DBDE and JSL gained 0.46% and 8.82%, respectively. The total trading volume was 98,726 shares, with a cumulative trading value of KHR 460 million. (Source: YSC Research)
Economy and Industry
MoC and NBC urges Khmer Riel label on products The Ministry of Commerce (MoC) and the National Bank of Cambodia (NBC) recently held a high-level meeting to strategize on promoting the use of the Khmer Riel, focusing on implementing price tag labeling in Khmer Riel. Co-chaired by Yim Leat, Deputy Governor of NBC, and Serey Borapich, Secretary of State of the Ministry of Commerce, the meeting aimed to foster cooperation between the two institutions. Discussions included NBC's action plan and various measures and policies to encourage Riel usage. Deputy Governor Leat highlighted NBC's introduction of electronic payment methods to facilitate Riel transactions and praised the Ministry of Commerce for its efforts, particularly in requiring Riel price tags in shops. He emphasized that promoting Riel use requires coordinated efforts from all authorities. NBC reported a significant increase in Riel circulation, from 0.85 trillion Riel ($211 million) twenty years ago to 14.5 trillion Riel ($3.51 billion) by 2023, as part of a gradual de-dollarization strategy. (Source: Khmer Times)
Cambodia requests Vietnam to increase bilateral trade volume to $20 billion Cambodia has requested Vietnam to increase their bilateral trade volume to $20 billion. Deputy Prime Minister Sun Chanthol, accompanied by Ambassador Tuy Ry, made the request during a May 23 meeting with Vietnamese Deputy Prime Minister Lee Minh Khai at the Nikkei Forum 29th Future of Asia in Tokyo. Both parties expressed satisfaction with their close cooperation and committed to further strengthening ties. Deputy PM Chanthol highlighted the Funan Techo Canal project, which has undergone a 26-month feasibility study by senior experts. He emphasized the canal's potential benefits for Vietnam, including improved water flow control, habitat establishment, and flood prevention. The canal is expected to have a significant positive impact on both countries' economies and environments. (Source: Khmer Times)
AMRO forecasts robust growth for Cambodia in 2024 Cambodia's economy is expected to grow robustly in 2024, driven by a rise in exports and continued tourism recovery, according to the ASEAN+3 Macroeconomic Research Office (AMRO). The economy is projected to grow by 5.6% in 2024 and 5.9% in 2025, up from 5% in 2023. AMRO Principal Economist Jinho Choi noted that the recovery in the garment sector, expansion in other manufacturing exports, and tourism rebound will support this growth. However, the trajectory is contingent on external risks and domestic vulnerabilities, particularly in the real estate sector and credit quality. AMRO Chief Economist Hoe Ee Khor highlighted Cambodia's fast growth in the region, driven by strong demand for consumer goods and stable foreign direct investment. The construction sector's recovery may lag due to the prolonged real estate downturn, but increased infrastructure investment is expected to partially offset this weakness. CPI inflation is forecast at 2.5% in 2024 and 2.6% in 2025. (Source: Khmer Times)
Corporate News
Deputy PM Sun Chanthol urges Japan to expedite PAS expansion Cambodia has sought Japanese support for upgrading the Sihanoukville Autonomous Port (PAS) and developing a master plan to transform it into a regional logistics center by 2050. Sun Chanthol, first Vice-Chairman of the Council for the Development of Cambodia (CDC), made this request during a meeting with Saito Tetsuo, Japan's Minister of Land, Infrastructure, Transport, and Tourism, in Tokyo on May 23. The Japanese minister expressed his commitment to expedite the expansion and study projects for PAS. Deputy PM Chanthol thanked Japan for its contributions to Cambodia's infrastructure development, including National Road 5 and the Choeung Ek sewage treatment plant. Analyst Chey Tech emphasized the importance of Japanese support in improving Cambodia's logistics and attracting foreign investment. He noted the government's focus on enhancing transport infrastructure, highlighting the Sihanoukville port's role in boosting Cambodia's economic growth and regional connectivity. (Source: Phnom Penh Post)
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