Cambodia approves $5.79bn for 23 energy projects to boost clean power by 2030
| News Highlights |
Economy and Industry
Cambodia approves $5.79bn for 23 energy projects to boost clean power by 2030 Cambodia has approved 23 energy investment projects worth $5.79 billion to address power shortages and enhance energy security. The projects, planned for 2024-2029, include solar, wind, biomass, gas-fired, and hydropower plants, alongside energy storage facilities. With a combined capacity of 3,950 MW for power generation and 2,000 MW for storage, these projects will reduce reliance on energy imports and support Cambodia's goal of 70% clean energy by 2030. They are expected to create thousands of jobs, particularly in various provinces, and contribute to national tax revenues, while helping Cambodia meet its environmental and greenhouse gas reduction targets. (Source: Khmer Times)
AIIB and MPWT sign MoUs to improve transport infrastructure in Cambodia The Ministry of Public Works and Transport (MPWT) of Cambodia has signed two memorandums of understanding (MoUs) with the Asian Infrastructure Investment Bank (AIIB) to conduct feasibility studies for a subway network in Phnom Penh and to enhance infrastructure connectivity in the northeastern region of the country. The signing took place on September 26 in Beijing, China, during the Global Sustainable Transport Forum 2024, with Minister Peng Ponea representing MPWT and Suthasinee Nimitkul from AIIB. Minister Peng expressed appreciation for AIIB's ongoing support in urban and cross-border infrastructure projects. Additionally, he met with Chinese Transport Minister Li Xiaopeng to establish a working group aimed at reviewing and expanding cooperation based on a prior MoU signed in 2017. (Source: Khmer Times)
CGJTA to launch gem and jewelry research and training institute in Cambodia The Cambodian Gems and Jewelry Traders Association (CGJTA) announced plans to establish a Gem and Jewelry Research and Training Institute in Cambodia. This was revealed during a meeting between CGJTA President Nhet Srey Oun and Prime Minister Hun Manet at the Peace Palace in Phnom Penh. The initiative aims to enhance Cambodia's gem and jewelry industry by providing specialized research and training. Prime Minister Hun Manet expressed strong support for the project and encouraged CGJTA to collaborate with relevant ministries to develop detailed action plans. Additionally, the Prime Minister emphasized the importance of focusing on the production and export of locally sourced gems, ensuring consumer and trader protection. The association is also considering organizing a semiannual gems and jewelry fair to further promote the sector. (Source: Khmer Times)
Corporate News
Amru Rice partners with US firm to establish rice bran processing unit in Cambodia Amru Rice (Cambodia) Co. Ltd., the country's largest organic rice producer, has partnered with US-based wholesaler Stabil Nutrition LLC to establish Cambodia's first organic rice bran processing factory. Signed in San Francisco, this agreement represents a major step in expanding Cambodia's agro-processing sector and boosting the export potential of its rice products. The partnership will combine Amru Rice's production expertise with Stabil Nutrition's advanced machinery and technology to produce export-quality stabilized rice bran, used in food, feed, and nutritional supplements. This venture aligns with Amru Rice's goal of enhancing Cambodia's presence in global markets, where it already operates three processing facilities. (Source: Khmer Times)
Stock Market
CSX index inches up 0.01% amid mixed performance on main board On September 30, 2024, the CSX index inched up by 0.01%, closing at 411.0 points. The main board saw positive movement in PAS (+1.19%) and GTI (+0.50%), while PPAP (-2.65%), PWSA (-0.61%), and PPSP (-0.45%) posted declines. ABC, PEPC, MJQE, and CGSM remained flat. On the growth board, both DBDE and JSL held steady. The total trading volume reached 67,643 shares, with a trading value of KHR 291 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 411.03 | 0.01 | 67,643 | 11,024 |
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 | 6,500 | -0.61 | -5.25 | -10.71 | 6,840 | 6,500 | 316,361 | 565 |
| GTI | 4,060 | 0.50 | 12.78 | 42.96 | 4,080 | 3,590 | 180,353 | 162 |
| PPAP | 13,200 | -2.65 | -2.94 | -5.71 | 13,900 | 13,200 | 6,757 | 273 |
| PPSP | 2,210 | -0.45 | -0.90 | 1.38 | 2,240 | 2,210 | 43,911 | 159 |
| PAS | 11,880 | 1.19 | -0.17 | -5.56 | 11,920 | 11,740 | 17,096 | 1,019 |
| ABC | 7,480 | 0.00 | 0.00 | -25.65 | 7,500 | 7,480 | 670,421 | 3,240 |
| PEPC | 2,450 | 0.00 | 0.00 | -10.58 | 2,500 | 2,410 | 17,105 | 184 |
| MJQE | 2,040 | 0.00 | 0.00 | -4.23 | 2,050 | 2,040 | 94,978 | 661 |
| CGSM | 2,430 | 0.00 | 0.41 | -7.60 | 2,430 | 2,410 | 83,519 | 4,761 |
| DBDE | 2,070 | 0.00 | 0.00 | -3.27 | 2,080 | 2,050 | 49,603 | 38 |
| JSL | 3,450 | 0.00 | 0.58 | -21.59 | 3,490 | 3,430 | 14,583 | 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 | 5.01 | 0.39 | 1.48 | 9.73 |
| GTI | 2Q24 | 47 | 7,165 | 86.51 | 0.57 | 0.49 | 17.11 |
| PPAP | 2Q24 | 1,800 | 39,401 | 7.34 | 0.34 | 2.05 | 4.74 |
| PPSP | 2Q24 | 85 | 3,560 | 25.91 | 0.62 | 1.40 | 7.86 |
| PAS | 2Q24 | 1,132 | 11,977 | 10.49 | 0.99 | 2.63 | 6.67 |
| 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* | 3,333 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,537 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,162 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,724 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 191 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,932 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,179 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,006 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 694 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,551 |
| *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. | |||||
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