ADB approves $93.6M financing to support 'WASH' services in 400 Cambodian villages
| News Highlights |
Economy and Industry
ADB approves $93.6M financing to support 'WASH' services in 400 Cambodian villages The Asian Development Bank (ADB) has approved $93.6 million in loans and grants to enhance climate-resilient and inclusive rural water supply, sanitation, and hygiene (WASH) facilities for 88,000 households in 400 villages across nine Cambodian provinces. The program aims to provide universal access to safe water, sanitation, and hygiene facilities in rural areas, enhance private sector involvement, and ensure climate resilience through integrated planning. It includes a $3 million grant from the Japan Fund for Prosperous and Resilient Asia and a $600,000 technical assistance fund to support sector reforms. ADB has supported Cambodia’s WASH sector since 2005, benefiting over 1 million people. (Source: Phnom Penh Post)
Digital trade saw remarkable growth in Cambodia Cambodia's e-commerce and digital trade sectors are growing rapidly due to government initiatives like the Cambodia Digital Economy and Society Framework 2021-2035, which support digital businesses and startups. Improved internet connectivity, increased smartphone use, and a young, innovative population are driving this growth. Minister of Commerce Cham Nimul and Prime Minister Hun Manet have emphasized the need for digital transformation across government institutions to enhance economic efficiency. The recent workshop by ERIA highlighted the importance of leveraging digital technologies and fostering policy innovation to boost Cambodia's digital economy. (Source: Khmer Times)
Farmers urged to cultivate varieties of fragrant rice The Ministry of Agriculture, Forestry and Fisheries in Cambodia is urging farmers to cultivate fragrant rice varieties like Romduol and Sen Kro Ob, which have high market demand due to their distinct flavors and aromas. This initiative aims to boost farmers' incomes and enhance agricultural exports. The ministry will coordinate with local mills to ensure timely rice collection and support farmers in improving production with well-sourced seeds. Fragrant rice accounted for 70.5% of Cambodia's 379,546 tonnes of milled rice exports in the first seven months of this year. With a focus on high-quality varieties, Cambodia is set to strengthen its position in the global rice market and achieve its goal of exporting at least one million tonnes of milled rice by 2025. (Source: Khmer Times)
Corporate News
Smart Axiata releases 9th Sustainability Report Smart Axiata launched its 9th Sustainability Report, highlighting its commitment to ESG initiatives in Cambodia. As the first telecom company in the country to publish a sustainability report since 2014, Smart Axiata integrates ESG principles across its operations, contributing $462 million to Cambodia's economy and supporting over 48,493 jobs. The company aims to achieve net-zero emissions by 2050, has installed solar panels at over 1,534 sites, and focuses on talent development, diversity, and community investment. The event, attended by key government and diplomatic representatives, underscored Smart Axiata's leadership in promoting sustainable business practices in the Kingdom. (Source: Khmer Times)
Stock Market
CSX index gains 0.35% amid mixed performance On September 3, 2024, the CSX index edged up by 0.35%, closing at 411.5 points. Gains were observed on the main board, led by GTI (+5.85%), followed by PEPC (+2.46%), MJQE (+0.49%), CGSM (+0.41%), and ABC (+0.27%). Conversely, PPAP (-0.74%), PWSA (-0.29%), and PAS (-0.27%) experienced declines, while PPSP remained unchanged. On the growth board, DBDE fell by 0.48%, whereas JSL rose by 0.87%. The total trading volume for the day reached 162,859 shares, with a cumulative trading value of KHR 891 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 411.47 | 0.35 | 162,859 | 11,036 |
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 | 6,820 | -0.29 | -0.58 | -6.32 | 7,000 | 6,800 | 3,218 | 593 |
| GTI | 3,800 | 5.85 | 5.56 | 33.80 | 3,800 | 3,550 | 57,656 | 152 |
| PPAP | 13,360 | -0.74 | -1.76 | -4.57 | 14,980 | 13,360 | 731 | 276 |
| PPSP | 2,210 | 0.00 | -0.90 | 1.38 | 2,360 | 2,210 | 5,229 | 159 |
| PAS | 11,820 | -0.17 | -0.67 | -6.04 | 12,080 | 11,800 | 3,148 | 1,014 |
| ABC | 7,500 | 0.27 | 0.27 | -25.45 | 7,500 | 7,440 | 113,843 | 3,249 |
| PEPC | 2,500 | 2.46 | 2.04 | -8.76 | 2,500 | 2,400 | 1,633 | 187 |
| MJQE | 2,050 | 0.49 | 0.49 | -3.76 | 2,050 | 2,030 | 24,466 | 664 |
| CGSM | 2,420 | 0.41 | 0.00 | -7.98 | 2,440 | 2,400 | 7,464 | 4,741 |
| DBDE | 2,070 | -0.48 | 0.00 | -3.27 | 2,090 | 2,070 | 15,721 | 38 |
| JSL | 3,470 | 0.87 | 1.17 | -21.14 | 3,500 | 3,380 | 2,598 | 89 |
| 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 | 1Q24 | 1,298 | 16,580 | 5.25 | 0.41 | 1.55 | 9.87 |
| GTI | 1Q24 | 106 | 7,068 | 35.73 | 0.54 | 0.46 | 14.03 |
| PPAP | 1Q24 | 1,952 | 38,178 | 6.84 | 0.35 | 1.97 | 4.81 |
| PPSP | 1Q24 | 445 | 3,501 | 4.97 | 0.63 | 1.15 | 5.44 |
| PAS | 1Q24 | 1,803 | 11,721 | 6.56 | 1.01 | 2.94 | 5.61 |
| ABC | 1Q24 | 1,518 | 13,222 | 4.94 | 0.57 | 0.96 | NA |
| PEPC* | 4Q23 | -477 | 842 | NA | 2.97 | 4.39 | 66.12 |
| MJQE | 4Q23 | 59 | 297 | 34.82 | 6.91 | 4.44 | 13.75 |
| CGSM | 4Q23 | 166 | 563 | 14.57 | 4.30 | 6.34 | 15.30 |
| JSL | 4Q23 | 274 | 593 | 12.65 | 5.85 | 1.29 | NA |
| DBDE | 1Q24 | 250 | 1,930 | 8.29 | 1.07 | 0.49 | 5.60 |
| NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *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* | 3,360 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,564 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,189 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,751 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 218 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,959 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,206 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,033 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 721 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,578 |
| *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 | 5 Y | 10 Y | |
| Total issuance ('K units) | 180.1 | 312.0 | 65.3 | 10.0 | - |
| Outstanding (KHR'bn) | 52.0 | 312.0 | 65.3 | 10.0 | - |
| Issuance ('K units, Latest) | 10.0 | 20.0 | 43.3 | 10.0 | - |
| Coupon rate (Latest) | 3.50% | 4.00% | 4.50% | 5.00% | - |
| Successful yield (Latest) | 3.85% | 4.00% | 4.63% | 5.00% | - |
| Latest bidding | 24-Apr-24 | 29-May-24 | 26-Jun-24 | 45,497 | - |
| *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. | |||||
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