Release of a comprehensive guide to business and investment opportunities in Siem Reap
| News Highlights |
Economy and Industry
Release of a comprehensive guide to business and investment opportunities in Siem Reap Siem Reap, renowned for its ancient temples, is now being promoted as an emerging economic hub through the newly released Guide to Doing Business and Investing in Siem Reap. Launched by Senior Minister Sok Siphana, the guide highlights the province's untapped potential in sectors such as agriculture, agro-industry, and air transport, positioning Siem Reap as a key economic asset to Cambodia. The guidebook, published in both Khmer and English, emphasizes the strategic advantages of Siem Reap's Tonle Sap Lake as an agricultural transport route, the growing role of Siem Reap Angkor International Airport as an export hub, and the upcoming expressway that will enhance regional connectivity with Phnom Penh, Ho Chi Minh City, and Bangkok. The guide aims to attract global investors and increase tourism, showcasing Siem Reap as a "Rising Star of the North" and a province on the brink of further economic growth. (Source: Khmer Times)
PM Hun Manet to discuss sub-regional cooperation and economic integration at ASEAN Summit Prime Minister Hun Manet will engage with the leaders of Laos and Vietnam at the 44th & 45th ASEAN Summits in Vientiane, focusing on enhancing sub-regional cooperation and promoting economic integration. During a networking breakfast on October 10 with Laos Prime Minister Sonexay Siphandone and Vietnam Prime Minister Pham Minh Chinh, discussions will center on strengthening connectivity through improved infrastructure, boosting economic resilience, and encouraging private sector investment in ASEAN's regional development. PM Hun Manet will also deliver a keynote at the ASEAN Business and Investment Summit (ABIS), addressing ASEAN-China partnerships under the Belt and Road Initiative. (Source: Khmer Times)
US Treasury Department to extend technical support to NBC The United States Department of the Treasury (USDT) has pledged technical assistance to the National Bank of Cambodia (NBC) to enhance its banking system and improve the implementation of monetary policy. The commitment was made by US Deputy Assistant Secretary for Asia and the Pacific, Robert Kaproth, during a meeting with NBC Governor Chea Serey in Phnom Penh. Discussions centered around further cooperation to strengthen Cambodia's financial sector, including initiatives to promote the use of the riel and reduce dollarisation. Serey expressed gratitude for USDT's past support, particularly in banking development and international reserve management. The meeting also explored the role of the US Treasury in aiding financial stability, countering money laundering, and fostering economic growth. (Source: Khmer Times)
Corporate News
IndiGo to increase direct flights from India to boost Cambodia's tourism sector Tourism experts anticipate significant growth in Cambodia's tourism industry following the announcement of new direct flights between major Indian cities and Cambodia. IndiGo, India's largest airline, plans to begin direct flights from New Delhi to Phnom Penh and Kolkata to Siem Reap in early 2025. These new routes, along with existing direct flights by Cambodia Angkor Air, are expected to boost tourism and trade between the two nations. With India being a major source of international tourists, Cambodia is encouraged to intensify its promotional efforts to attract more Indian visitors, who show interest in leisure activities, shopping, and Cambodia's historical sites. (Source: Phnom Penh Post)
Stock Market
CSX index slightly up; GTI and PAS lead gains amid mixed performance On October 9, 2024, the CSX index rose slightly by 0.01%, closing at 410.5 points. Among the main board stocks, GTI (+1.49%) and PAS (+0.35%) both gained value. However, PEPC (-1.22%) and PPAP (-0.75%) declined. PWSA, PPSP, ABC, MJQE, and CGSM remained unchanged. On the growth board, DBDE and JSL also remained unchanged. The total trading volume reached 58,837 shares, with a trading value of KHR 345 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 410.51 | 0.01 | 58,837 | 11,010 |
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 | 6,440 | 0.00 | -0.92 | -11.54 | 6,780 | 6,400 | 37,307 | 560 |
| GTI | 4,080 | 1.49 | 0.49 | 43.66 | 4,080 | 3,790 | 30,080 | 163 |
| PPAP | 13,300 | -0.75 | 0.76 | -5.00 | 13,900 | 13,200 | 2,795 | 275 |
| PPSP | 2,230 | 0.00 | 0.90 | 2.29 | 2,240 | 2,210 | 23,856 | 160 |
| PAS | 11,480 | 0.35 | -3.37 | -8.74 | 11,920 | 11,380 | 31,090 | 985 |
| ABC | 7,480 | 0.00 | 0.00 | -25.65 | 7,500 | 7,480 | 91,655 | 3,240 |
| PEPC | 2,430 | -1.22 | -0.82 | -11.31 | 2,500 | 2,410 | 2,629 | 182 |
| MJQE | 2,050 | 0.00 | 0.49 | -3.76 | 2,050 | 2,040 | 38,754 | 664 |
| CGSM | 2,440 | 0.00 | 0.41 | -7.22 | 2,450 | 2,420 | 18,352 | 4,781 |
| DBDE | 2,070 | 0.00 | 0.00 | -3.27 | 2,080 | 2,050 | 11,572 | 38 |
| JSL | 3,450 | 0.00 | 0.00 | -21.59 | 3,490 | 3,430 | 942 | 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 | 4.96 | 0.39 | 1.46 | 9.70 |
| GTI | 2Q24 | 47 | 7,165 | 86.93 | 0.57 | 0.49 | 17.16 |
| PPAP | 2Q24 | 1,800 | 39,401 | 7.39 | 0.34 | 2.07 | 4.77 |
| PPSP | 2Q24 | 85 | 3,560 | 26.15 | 0.63 | 1.42 | 7.92 |
| PAS | 2Q24 | 1,132 | 11,977 | 10.14 | 0.96 | 2.54 | 6.50 |
| ABC | 2Q24 | 1,554 | 13,448 | 4.81 | 0.56 | 0.94 | NA |
| PEPC* | 4Q24 | -1,035 | 165 | NA | 14.68 | 4.29 | NA |
| MJQE | 2Q24 | 59 | 314 | 34.92 | 6.52 | 4.32 | 29.78 |
| CGSM | 2Q24 | 160 | 609 | 15.20 | 4.01 | 6.46 | 15.34 |
| 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* | 3,324 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,528 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,153 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,715 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 182 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,923 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,170 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 2,997 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 685 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,542 |
| *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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