Chinese investors invited to explore Cambodia's attractive tax incentives
| News Highlights |
Economy and Industry
Chinese investors invited to explore Cambodia's attractive tax incentives Cambodia's General Department of Taxation (GDT) has invited Chinese investors to explore the country's attractive tax incentives for eligible projects. At the China-Cambodia (Shenzhen) Trade and Business Forum, GDT Director-General Kong Vibol emphasized Cambodia's favorable investment environment, highlighting benefits such as tax holidays of up to nine years for Qualified Investment Projects (QIPs). The event promoted trade cooperation and economic development, while also showcasing Cambodia's potential through multilateral and bilateral trade agreements. Chinese investors, including companies like BYD and Huawei, expressed interest in exploring opportunities in Cambodia. (Source: Khmer Times)
MAFF and Guangxi Zhuang Region Sign MoU for Modern Rice Industry Cooperation The Ministry of Agriculture, Forestry and Fisheries (MAFF) of Cambodia and China's Guangxi Zhuang Autonomous Region have signed an MoU to promote agricultural and poverty reduction projects. The agreement includes two major initiatives: a Cambodia-China Guangxi modern rice industry cooperation project and a Guangxi assistance project for modern farming technology and poverty reduction. The projects aim to boost food security and agro-trade cooperation between ASEAN and China. Additionally, challenges such as infrastructure and sanitary standards in the agricultural sector were noted as ongoing issues for Cambodia. (Source: Khmer Times)
LA Mayor to explore Cambodia's economic landscape and strengthen US ties Karen Bass, Mayor of Los Angeles, expressed her interest in visiting Cambodia to examine the country's economic environment and social realities, aiming to strengthen ties between Cambodia and the US. During a meeting with Cambodia's Deputy Prime Minister Sun Chanthol in California, the mayor praised Cambodia's efforts to keep up with global developments and its stable political environment. Chanthol highlighted Cambodia's young, skilled workforce and its favorable investment climate recognized by the World Bank. Policy analyst Dr. Seun Sam sees the mayor's visit as an opportunity to promote diplomatic diversity and attract foreign direct investment, noting that addressing challenges faced by international investors, such as informal expenditures, is crucial for Cambodia to fully capitalize on these opportunities. (Source: Khmer Times)
Corporate News
New MoU to revolutionize the Angkor experience through immersive technology The Apsara National Authority (ANA) has partnered with Immersive Angkor to bring a new level of cultural and historical engagement to the Angkor Archaeological Park. The signed MoU will establish an interactive museum utilizing advanced technology to enhance the visitor experience, preserve Angkor's legacy, and promote it internationally. The project will include digital scans of temples and knowledge transfer to ANA teams. This initiative, supported by Cambodia's Royal Government, is set to open by late 2025 and aims to bolster tourism while ensuring the preservation of Cambodia's cultural heritage. (Source: Khmer Times)
Stock Market
CSX index dips slightly with declines in key stocks on September 27, 2024 On September 27, 2024, the CSX index edged down by 0.09%, closing at 411.0 points. The main board saw no gains, with PAS (-0.84%) and PEPC (-0.41%) recording losses. PWSA, GTI, PPAP, PPSP, ABC, MJQE, and CGSM remained unchanged. On the growth board, DBDE held steady, while JSL rose by 0.58%. Total trading volume reached 34,490 shares, with a trading value of KHR 169 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 410.99 | -0.09 | 34,490 | 11,023 |
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 | 6,540 | 0.00 | -4.66 | -10.16 | 6,860 | 6,540 | 310,337 | 569 |
| GTI | 4,040 | 0.00 | 12.22 | 42.25 | 4,080 | 3,590 | 172,369 | 162 |
| PPAP | 13,560 | 0.00 | -0.29 | -3.14 | 13,900 | 13,360 | 5,512 | 280 |
| PPSP | 2,220 | 0.00 | -0.45 | 1.83 | 2,240 | 2,210 | 39,549 | 160 |
| PAS | 11,740 | -0.84 | -1.34 | -6.68 | 11,920 | 11,740 | 17,047 | 1,007 |
| ABC | 7,480 | 0.00 | 0.00 | -25.65 | 7,500 | 7,480 | 653,533 | 3,240 |
| PEPC | 2,450 | -0.41 | 0.00 | -10.58 | 2,500 | 2,410 | 16,950 | 184 |
| MJQE | 2,040 | 0.00 | 0.00 | -4.23 | 2,050 | 2,040 | 75,074 | 661 |
| CGSM | 2,430 | 0.00 | 0.41 | -7.60 | 2,430 | 2,410 | 72,357 | 4,761 |
| DBDE | 2,070 | 0.00 | 0.00 | -3.27 | 2,080 | 2,050 | 45,047 | 38 |
| JSL | 3,450 | 0.58 | 0.58 | -21.59 | 3,490 | 3,430 | 14,469 | 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 | 5.04 | 0.39 | 1.48 | 9.75 |
| GTI | 2Q24 | 47 | 7,165 | 86.08 | 0.56 | 0.49 | 17.05 |
| PPAP | 2Q24 | 1,800 | 39,401 | 7.54 | 0.34 | 2.11 | 4.85 |
| PPSP | 2Q24 | 85 | 3,560 | 26.03 | 0.62 | 1.41 | 7.89 |
| PAS | 2Q24 | 1,132 | 11,977 | 10.37 | 0.98 | 2.60 | 6.61 |
| ABC | 2Q24 | 1,554 | 13,448 | 4.81 | 0.56 | 0.94 | NA |
| PEPC* | 4Q24 | -1,035 | 165 | NA | 14.80 | 4.32 | NA |
| MJQE | 2Q24 | 59 | 314 | 34.75 | 6.49 | 4.29 | 29.65 |
| CGSM | 2Q24 | 160 | 609 | 15.14 | 3.99 | 6.43 | 15.28 |
| JSL | 2Q24 | 1 | 669 | 4120.59 | 5.16 | 1.06 | NA |
| DBDE | 2Q24 | 80 | 1,932 | 25.85 | 1.07 | 0.55 | 8.80 |
| 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* | 3,336 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,540 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,165 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,727 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 194 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,935 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,182 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,009 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 697 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,554 |
| *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 | 85.3 | 10.0 | 0.0 |
| Outstanding (KHR'bn) | 52.0 | 312.0 | 85.3 | 10.0 | 0.0 |
| Issuance ('K units, Latest) | 10.0 | 20.0 | 20.0 | 10.0 | 0.0 |
| Coupon rate (Latest) | 3.50% | 4.00% | 4.50% | 5.00% | 5.25% |
| Successful yield (Latest) | 3.85% | 4.00% | 5.13% | 5.00% | - |
| Latest bidding | 24-Apr-24 | 29-May-24 | 18-Sep-24 | 45,497 | 45,525 |
| *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. | |||||
| Stock Charts |
Main Board
Growth Board
