Cambodia strengthens power infrastructure to meet growing energy demands
| News Highlights |
Economy and Industry
Cambodia strengthens power infrastructure to meet growing energy demands Cambodia is accelerating the development of its power infrastructure to meet increasing energy demands and ensure a stable electricity supply, with a focus on clean energy sources. The government aims for 70% of electricity to come from renewable energy by 2030, supporting economic growth and environmental goals. Significant progress has been made in expanding power generation and upgrading the national grid, with $5.79 billion allocated for 23 power projects between 2024-2029, including solar, wind, and energy storage. Currently, over 99% of villages in Cambodia have access to electricity. (Source: Khmer Times)
Kampong Thom province plans to establish cashew nut hub to target global markets Kampong Thom province plans to create a dedicated cashew nut hub aimed at supplying major international markets, including Turkey, the Middle East, and the European Union. The initiative, led by the Cashew Nut Association of Cambodia (CAC), is in collaboration with local processing companies and international investors to boost Cambodia's cashew sector. Discussions with business partners from Turkey and the U.S. are underway to secure funding, and the hub is expected to be operational by next year's harvest season. Cambodia, currently the second-largest global producer of raw cashews, aims to further strengthen its export capacity. (Source: Khmer Times)
Nationwide expansion of smoke-free tourism city status underway Following Kampong Cham's recognition as a Smoke-Free Tourism City, the Ministry of Tourism (MoT) aims to extend this initiative nationwide, beginning with Battambang. The smoke-free status is part of a policy encouraging tourism businesses to implement smoke-free environments, alongside awareness campaigns on the dangers of tobacco. Kampong Cham achieved the designation by meeting criteria set by authorities, promoting tobacco control, and fostering healthier public spaces. The recognition is supported by organizations like the WHO and Southeast Asia Tobacco Control Alliance, with the goal of enhancing tourism and public health across Cambodia. (Source: Kiripost)
Corporate News
Prime Minister approves Gulfstream Aerospace Corporation's investment in Cambodia's aviation sector Prime Minister Hun Manet has approved Gulfstream Aerospace Corporation's proposal to invest in Cambodia's aviation industry. During a meeting with Julien Nargeot, Regional Vice-President of Sales at Gulfstream, the American company expressed interest in contributing to the expansion of flight connectivity and the tourism sector. Hun Manet emphasized Cambodia's economic growth and the potential benefits of this timely investment. Gulfstream, known for manufacturing luxury private jets, aims to provide premium charter services, enhancing transportation for diplomats and businessmen between Cambodia and international destinations like Singapore, Europe, and the US. (Source: Khmer Times)
Stock Market
CSX index closes flat amid mixed performance on October 18, 2024 On October 18, 2024, the CSX index was down 0.22%, closing at 407.2 points. On the main board, GTI (+0.96%) posted gains, while PAS (-1.05%), PWSA (-0.63%), MJQE (-0.49%), and ABC (-0.27%) experienced declines. PPAP, PPSP, PEPC, and CGSM ended the day unchanged. Over on the growth board, DBDE recorded a 0.97% decrease, with JSL remaining flat. The total trading volume for the day amounted to 59,745 shares, with a trading value of KHR 368 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 407.24 | -0.22 | 59,745 | 10,923 |
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 | 6,260 | -0.63 | -3.69 | -14.01 | 6,720 | 6,260 | 94,487 | 544 |
| GTI | 4,200 | 0.96 | 3.45 | 47.89 | 4,200 | 3,800 | 67,142 | 168 |
| PPAP | 13,300 | 0.00 | 0.76 | -5.00 | 13,740 | 13,200 | 4,118 | 275 |
| PPSP | 2,220 | 0.00 | 0.45 | 1.83 | 2,240 | 2,200 | 34,229 | 160 |
| PAS | 11,300 | -1.05 | -4.88 | -10.17 | 11,920 | 11,300 | 34,984 | 969 |
| ABC | 7,300 | -0.27 | -2.41 | -27.44 | 7,500 | 7,300 | 263,044 | 3,162 |
| PEPC | 2,440 | 0.00 | -0.41 | -10.95 | 2,470 | 2,400 | 5,557 | 183 |
| MJQE | 2,040 | -0.49 | 0.00 | -4.23 | 2,050 | 2,040 | 125,783 | 661 |
| CGSM | 2,450 | 0.00 | 0.82 | -6.84 | 2,450 | 2,420 | 31,075 | 4,800 |
| DBDE | 2,050 | -0.97 | -0.97 | -4.21 | 2,080 | 2,050 | 14,143 | 38 |
| JSL | 3,450 | 0.00 | 0.00 | -21.59 | 3,490 | 3,430 | 4,072 | 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 | 4.82 | 0.38 | 1.42 | 9.62 |
| GTI | 2Q24 | 47 | 7,165 | 89.49 | 0.59 | 0.51 | 17.48 |
| PPAP | 2Q24 | 1,800 | 39,401 | 7.39 | 0.34 | 2.07 | 4.77 |
| PPSP | 2Q24 | 85 | 3,560 | 26.03 | 0.62 | 1.41 | 7.89 |
| PAS | 2Q24 | 1,132 | 11,977 | 9.98 | 0.94 | 2.50 | 6.43 |
| ABC | 2Q24 | 1,554 | 13,448 | 4.70 | 0.54 | 0.92 | NA |
| PEPC* | 4Q24 | -1,035 | 165 | NA | 14.74 | 4.30 | NA |
| MJQE | 2Q24 | 59 | 314 | 34.75 | 6.49 | 4.29 | 29.65 |
| CGSM | 2Q24 | 160 | 609 | 15.27 | 4.02 | 6.49 | 15.39 |
| 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* | 3,315 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,519 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,144 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,706 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 173 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,914 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,161 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 2,988 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 676 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,533 |
| *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 | 0.0 | 0.0 |
| Coupon rate (Latest) | 3.50% | 4.00% | 4.50% | 4.75% | 5.25% |
| Successful yield (Latest) | 3.85% | 4.00% | 5.13% | - | - |
| Latest bidding | 24-Apr-24 | 29-May-24 | 18-Sep-24 | 45,581 | 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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