Soft launch of electronic Know Your Business (e-KYB) system
| News Highlights |
Economy and Industry
Soft launch of electronic Know Your Business (e-KYB) system The Techo Startup Centre, in collaboration with three government ministries, has launched the Electronic Know Your Business (e-KYB) system, designed to verify the identity, status, and legal compliance of enterprises. The e-KYB system streamlines business registration, tax compliance, and enterprise data verification, enhancing government IT systems and benefiting both the public and private sectors. Supported by former Prime Minister Hun Sen and Prime Minister Hun Manet, the e-KYB aims to foster a unified digital business ecosystem through the Cambodia Data Exchange (CamDX) platform, promoting secure and efficient data sharing among government and private entities. (Source: Khmer Times)
Cambodia and China agree to boost private investment cooperation Deputy Prime Minister Sun Chanthol led a Cambodian delegation to the Xiamen Free Trade Zone (FTZ) in China to explore investment opportunities and boost socio-economic diversification in Cambodia. Welcomed by Weng Xiaolan, Vice-Chairwoman of the Xiamen Municipal Administration Committee, the visit included discussions on China's use of new technologies in FTZ operations. The Cambodian delegation also met with Xiamen Xiangyu Group (XMXYG), a major port and logistics company, urging them to consider expanding investments into Cambodia's ports and logistics sectors. Dr. Ben Li, Founder of the Cambodia Chinese Commerce Association, highlighted the potential growth of Cambodia's logistics sector in the coming years, noting challenges such as high logistics costs and the need for infrastructure improvements. (Source: Khmer Times)
Cambodia seeks to harness R&D investment for technology-driven solutions to local challenges The Ministry of Industry, Science, Technology & Innovation (MISTI) hosted a workshop on "Cambodia's National R&D Management System" to enhance the research ecosystem and drive socio-economic benefits through innovation. Over 130 participants from government, research institutions, and academia discussed R&D funding and strategies to strengthen Cambodia's scientific capabilities. Hul Seingheng, Under Secretary of State of MISTI, highlighted the importance of R&D investment for economic growth and global competitiveness. The event reviewed a demand survey for an R&D management system and introduced a platform to improve technical efficiency in the national innovation ecosystem. Key initiatives like the National Research Agenda 2025 aim to establish a comprehensive framework to promote R&D across eight priority areas. The workshop's insights will guide future policies to support Cambodia's transition to a knowledge-based economy. (Source: Khmer Times)
Corporate News
Chinese-invested car tyre plant inaugurated in Kratie SEZ Newbustar (Cambodia) Tire Co Ltd, a Chinese-invested car tire plant, officially launched in northeastern Cambodia after a 16-month construction period. The $140 million plant, built on a 40-hectare site in the UBE Special Economic Zone (SEZ) in Snuol district, is a subsidiary of China's Qingdao Doublestar Group. The facility aims to diversify Cambodia's economy, boost socio-economic development, and create local jobs. CDC Secretary General Chea Vuthy noted that this is one of five tire manufacturing projects in Cambodia's SEZs, which host 775 investment projects valued at about $10 billion and employ 180,000 people. (Source: Khmer Times)
Stock Market
CSX index drops 0.25% amid declines in key stocks On September 9, 2024, the CSX index dropped by 0.25%, closing at 411.3 points. On the main board, GTI (-0.52%), PAS (-0.51%), CGSM (-0.41%), and PWSA (-0.29%) saw declines, while PPAP, PPSP, ABC, PEPC, and MJQE remained unchanged. On the growth board, DBDE held steady, while JSL declined by 0.29%. The total trading volume for the day reached 46,431 shares, with a cumulative trading value of KHR 287 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 411.31 | -0.25 | 46,431 | 11,032 |
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 | 6,760 | -0.29 | -1.46 | -7.14 | 7,000 | 6,760 | 109,630 | 588 |
| GTI | 3,810 | -0.52 | 5.83 | 34.15 | 3,830 | 3,590 | 111,312 | 152 |
| PPAP | 13,600 | 0.00 | 0.00 | -2.86 | 14,600 | 13,360 | 1,194 | 281 |
| PPSP | 2,220 | 0.00 | -0.45 | 1.83 | 2,310 | 2,210 | 10,319 | 160 |
| PAS | 11,800 | -0.51 | -0.84 | -6.20 | 12,020 | 11,800 | 8,971 | 1,012 |
| ABC | 7,500 | 0.00 | 0.27 | -25.45 | 7,500 | 7,440 | 261,132 | 3,249 |
| PEPC | 2,500 | 0.00 | 2.04 | -8.76 | 2,500 | 2,400 | 13,928 | 187 |
| MJQE | 2,040 | 0.00 | 0.00 | -4.23 | 2,050 | 2,030 | 40,063 | 661 |
| CGSM | 2,420 | -0.41 | 0.00 | -7.98 | 2,430 | 2,400 | 19,558 | 4,741 |
| DBDE | 2,070 | 0.00 | 0.00 | -3.27 | 2,090 | 2,070 | 17,313 | 38 |
| JSL | 3,460 | -0.29 | 0.87 | -21.36 | 3,500 | 3,380 | 10,794 | 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 | 5.21 | 0.41 | 1.53 | 9.85 |
| GTI | 1Q24 | 106 | 7,068 | 35.82 | 0.54 | 0.46 | 14.06 |
| PPAP | 1Q24 | 1,952 | 38,178 | 6.97 | 0.36 | 2.01 | 4.89 |
| PPSP | 1Q24 | 445 | 3,501 | 4.99 | 0.63 | 1.16 | 5.46 |
| PAS | 1Q24 | 1,803 | 11,721 | 6.54 | 1.01 | 2.93 | 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 | 34.65 | 6.88 | 4.42 | 13.68 |
| CGSM | 4Q23 | 166 | 563 | 14.57 | 4.30 | 6.34 | 15.30 |
| JSL | 4Q23 | 274 | 593 | 12.62 | 5.83 | 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* | 3,354 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,558 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,183 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,745 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 212 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,953 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,200 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,027 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 715 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,572 |
| *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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