Ant International and NBC launch cross-border QR payment system
| News Highlights |
Economy and Industry
Ant International and NBC launch cross-border QR payment system Ant International and The National Bank of Cambodia (NBC) have launched a cross-border QR payment system, connecting Cambodia with nine countries and regions including China, Singapore, Malaysia, Korea, Thailand, Vietnam, Laos, Philippines and Unified Payment Interface (UPI) through Bakong and Alipay+ QR codes. The initiative, unveiled at Sofitel Phnom Penh Phokeethra, aims to modernize Cambodia's payment system and boost digitalization. Governor Chea Serey highlighted the importance of this milestone, which allows international visitors to use Alipay+ partner apps to pay across Cambodia. The system will also enable Cambodian residents to use local wallets for cross-border payments when traveling. Edward Yue of Ant International emphasized the system's potential for seamless payments across over 1 million merchants in Cambodia, supporting the country's inclusive economic growth. (Source: Khmer Times)
AFD and EU commit to supporting Cambodia's water sector reform The Agence Francaise de Developpement (AFD) and the European Union (EU) have pledged technical and financial support to help expand the Phnom Penh Water Supply Authority (PPWSA) as part of Cambodia's broader water sector reform. During a meeting with Hem Vanndy, Minister of Industry, Science, Technology & Innovation, AFD and the EU discussed the importance of modernizing the fragmented water supply system to meet the demands of Cambodia's rapid urbanization and industrialization. This reform aligns with Cambodia's vision of becoming a middle-income country by 2030 and achieving Sustainable Development Goal 6 (SDG-6) for sustainable water management. (Source: Khmer Times)
Strategies outlined as Cambodia prepares for transition from LDC status Cambodia is preparing to exit its Least Developed Country (LDC) status by 2029, despite challenges such as the potential loss of preferential tariffs and stricter rules of origin. At the 20th anniversary celebration of Cambodia's entry into the World Trade Organization (WTO), Commerce Minister Cham Nimul emphasized the country's strong economic growth since joining the WTO in 2004, including GDP rising from $5.3 billion to $29.61 billion in 2022. To manage the impact of LDC graduation, the Ministry of Commerce has outlined eight strategies, such as maximizing free trade agreements, diversifying markets, promoting e-commerce, and enhancing private sector governance, aimed at sustaining competitiveness and ensuring a smooth transition. (Source: Phnom Penh Post)
Corporate News
CGCC provides $232 million in credit guarantees to support MSMEs' growth The Credit Guarantee Corporation of Cambodia (CGCC) has issued $232 million in credit guarantees to 2,783 micro, small, and medium-sized enterprises (MSMEs) by September 2024, helping them secure working capital for business expansion. Of these, 1,225 are women-owned businesses. The CGCC, in partnership with 28 financial institutions, aims to boost financial inclusion and support the growth of SMEs across Cambodia. Established in 2020 with a $200 million state budget, CGCC has also extended its guaranteed services to corporate bonds, contributing to broader financial access for larger SMEs. (Source: Khmer Times)
Stock Market
CSX index gains 0.06% amid mixed performance on October 16, 2024 On October 16, 2024, the CSX index rose by 0.06%, closing at 408.1 points. On the main board, PEPC (+1.67%), GTI (+0.97%), and CGSM (+0.83%) posted gains, while PAS (-0.87%), ABC (-0.81%), PPSP (-0.45%), PWSA (-0.32%), and PPAP (-0.15%) experienced declines. MJQE remained unchanged. Over on the growth board, DBDE and JSL fell by 0.97% and 0.29%, respectively. The day's total trading volume reached 84,064 shares, with a trading value of KHR 475 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 408.14 | 0.06 | 84,064 | 10,947 |
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 | 6,280 | -0.32 | -3.38 | -13.74 | 6,720 | 6,280 | 75,292 | 546 |
| GTI | 4,160 | 0.97 | 2.46 | 46.48 | 4,160 | 3,800 | 52,375 | 166 |
| PPAP | 13,320 | -0.15 | 0.91 | -4.86 | 13,900 | 13,200 | 3,243 | 276 |
| PPSP | 2,200 | -0.45 | -0.45 | 0.92 | 2,240 | 2,200 | 32,915 | 158 |
| PAS | 11,380 | -0.87 | -4.21 | -9.54 | 11,920 | 11,380 | 33,936 | 976 |
| ABC | 7,380 | -0.81 | -1.34 | -26.64 | 7,500 | 7,380 | 193,038 | 3,197 |
| PEPC | 2,440 | 1.67 | -0.41 | -10.95 | 2,490 | 2,400 | 5,552 | 183 |
| MJQE | 2,050 | 0.00 | 0.49 | -3.76 | 2,050 | 2,040 | 57,478 | 664 |
| CGSM | 2,440 | 0.83 | 0.41 | -7.22 | 2,450 | 2,420 | 25,385 | 4,781 |
| DBDE | 2,050 | -0.97 | -0.97 | -4.21 | 2,080 | 2,050 | 12,536 | 38 |
| JSL | 3,450 | -0.29 | 0.00 | -21.59 | 3,490 | 3,430 | 2,461 | 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 | 4.84 | 0.38 | 1.43 | 9.63 |
| GTI | 2Q24 | 47 | 7,165 | 88.64 | 0.58 | 0.50 | 17.37 |
| PPAP | 2Q24 | 1,800 | 39,401 | 7.40 | 0.34 | 2.07 | 4.78 |
| PPSP | 2Q24 | 85 | 3,560 | 25.79 | 0.62 | 1.40 | 7.83 |
| PAS | 2Q24 | 1,132 | 11,977 | 10.05 | 0.95 | 2.52 | 6.46 |
| ABC | 2Q24 | 1,554 | 13,448 | 4.75 | 0.55 | 0.93 | NA |
| PEPC* | 4Q24 | -1,035 | 165 | NA | 14.74 | 4.30 | 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 | 25.60 | 1.06 | 0.55 | 8.74 |
| 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* | 3,317 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,521 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,146 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,708 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 175 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,916 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,163 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 2,990 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 678 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,535 |
| *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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