Cambodian rubber latex exports net $472 million from January to October

Economy and Industry

Cambodian rubber latex exports net $472 million from January to October  Cambodia recorded a noteworthy increase in revenue from natural rubber latex exports, reaching $472 million in the first ten months of 2024, marking a 22.5% surge compared to the previous year. The country exported 291,269 tons of natural rubber latex during this period, reflecting a 2.6% growth over the same period in the previous year, as reported by the General Directorate of Rubber. With an average cost of $1,621 per ton during the specified period, which is $264 higher than the previous year, Cambodia's natural rubber latex market has seen positive growth. The primary export destinations for Cambodia's natural rubber latex include Malaysia, Vietnam, Singapore, and China. (Source: Khmer Times)

AmCham survey details optimistic outlook for doing business in Cambodia  The American Chamber of Commerce in Cambodia (AmCham Cambodia) published its annual 'Business Climate Survey 2024' report based on insights from over 500 registered companies in Cambodia. The survey results indicate optimistic growth prospects with increased profitability and planned investment expansions in 2024, alongside improving strategic investment conditions in the market. Challenges highlighted in the report include transparency issues in the legal system and concerns about electricity and logistics costs. The survey underscores the need for clearer guidelines, reduced regulatory risks, and infrastructure improvements to sustain and further bolster Cambodia's business environment. (Source: Khmer Times)

Cambodia, China agrees to accelerate Funan Techo Canal Project Peng Ponea, Minister of Public Works and Transport (MPWT) recently met with Wang Wenbin, the Chinese Ambassador to Cambodia, and Zhang Huanteng, the Deputy Director-General of the Department of Foreign Capital and Overseas Investment of the National Development and Reform Commission (NDRC) of China, in Phnom Penh to discuss initiatives focusing on the acceleration of the Funan Techo Canal (FTC) project and the modernization of the railway network. The FTC project, a significant endeavor aimed at enhancing regional connectivity and bolstering economic growth, was a key topic of conversation during the meeting, with a focus on assessing progress and potential enhancements to the railway network within the Kingdom. (Source: Khmer Times)

Corporate News

PAS container traffic experiences 40% YoY increase, revenue up just 27% YoY in Q3 In the third quarter of 2024, the Sihanoukville Autonomous Port (PAS) in Cambodia witnessed a significant surge in container traffic, with nearly 300,000 twenty-foot equivalent units (TEUs) passing through the port, marking a substantial 40% increase compared to the same period in 2023. The PAS Q3 2024 report, released on November 19, indicated notable progress for the port company, showcasing a revenue growth that slightly trailed the TEU throughput spike while managing to reduce net losses compared to previous figures. Revenues for the quarter reached 120 billion riel (approximately $30 million), marking a 27% increase from the corresponding period in 2023, while net losses after tax plummeted by 29 billion riel (around $7 million), representing an impressive 135.63% decrease from the same timeframe in 2023, causing PAS shares to dip by 91.38 riel per share in Q3. (Source: Phnom Penh Post)

Stock Market

CSX index drops 0.26%, weighed down by PEPC's 2.07% decline On November 21, 2024, the CSX Index declined by 0.26%, closing at 402.5 points. Leading the gains on the main board was PWSA, up by 0.64%, followed by PAS (+0.35%). Conversely, PEPC (-2.07%), MJQE (-0.49%), CGSM (-0.41%), and ABC (-0.29%) saw losses, while GTI, PPAP, and PPSP remained unchanged. On the growth board, DBDE fell by 0.98%, while JSL remained flat. The day saw a trading volume of 60,170 shares, with a turnover of KHR 306 million. (Source: YSC Research)

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