Govt budget of $9.3 billion approved by NA
| News Highlights |
Economy and Industry
Govt budget of $9.3 billion approved by NA The National Assembly (NA) approved a $9.3 billion budget for the Cambodian government in 2025 during its Third Session of the Seventh Legislature, emphasizing the commitment to meet public aspirations and drive socio-economic growth towards becoming a high-middle-income country. The budget law, supported by Deputy Prime Minister Aun Pornmoniroth, aligns with the country's growth trajectory and is structured based on the 2025 Macroeconomic Policy Framework. The budget allocation, amounting to 18.14% of the GDP, focuses on current and capital expenditures, including infrastructure projects, public sector salaries, sectoral reforms, and human resource development initiatives. (Source: Khmer Times)
2,513 electric cars registered as of October 2024 Cambodia has registered 2,513 electric vehicles (EVs) as of October 2024, with popular brands including BYD, Toyota, and Tesla. The Minister of Public Works and Transport highlighted the cost-saving and environmental benefits of EVs at a showcase event in Phnom Penh, aiming to increase the number of EVs to 30,000 by 2030. Currently, the country has 21 EV charging stations and aims to reduce carbon emissions significantly by 2050. Sales supervisors noted a surge in consumer interest in EVs due to government encouragement, emphasizing their cost efficiency and eco-friendliness as key advantages. (Source: Khmer Times)
Cambodia plans 800,000 electric vehicles and comprehensive charging network by 2030 At the 5th Annual Electric Vehicle Showcase in Cambodia, the Ministry of Public Works and Transport (MPWT) and EnergyLab outlined an ambitious plan to electrify the country's transport sector with 800,000 electric vehicles and a robust charging network by 2030. Minister Peng Ponea stressed the importance of EV adoption in achieving carbon neutrality by 2050, emphasizing the need for collaboration among various stakeholders. The EV Development Policy (2024-2030) aims to transition Cambodia's economy towards higher-value industries such as EV assembly and advanced manufacturing. Policy initiatives include infrastructure development, 5G-integrated EV-supporting infrastructure, supply chain establishment for EV production, and investment policies to attract international and local stakeholders. (Source: Khmer Times)
Corporate News
First cashew agro-industrial park in Kampong Thom approved Cambodia is set to establish its first cashew nut agro-industrial park in Kampong Thom province, aimed at enhancing the cashew industry's development and competitiveness internationally. Prime Minister Hun Manet endorsed the park's creation as a state-led initiative to boost local economies and attract investments, highlighting the benefits for cashew producers. The park, akin to a special economic zone, is designed to lower production costs, increase competitiveness, and streamline processing through shared resources and incentives. Despite challenges such as decreased processed cashew output in 2024, due to market factors and financial constraints, the industry remains optimistic for 2025, aiming for enhanced export levels with the establishment of international-standard processing facilities. (Source: Phnom Penh Post)
Stock Market
CSX index declines 0.29% amid mixed performance on November 29 On November 29, 2024, the CSX Index edged down by 0.29%, closing at 401.4 points. Leading the gains on the main board were PPSP (+1.75%), PEPC (+0.42%), and PPAP (+0.15%). In contrast, GTI (-2.29%), PWSA (-1.59%), CGSM (-0.41%), and PAS (-0.18%) recorded declines, while ABC and MJQE remained flat. On the growth board, DBDE slipped by 0.49%, whereas JSL posted a gain of 1.45%. The day concluded with a trading volume of 74,442 shares and a turnover of KHR 374 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 401.43 | -0.29 | 74,442 | 10,767 |
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 | 6,200 | -1.59 | 0.32 | -14.84 | 6,480 | 6,180 | 121,160 | 539 |
| GTI | 5,120 | -2.29 | 19.63 | 80.28 | 5,320 | 4,200 | 233,016 | 205 |
| PPAP | 13,540 | 0.15 | 1.35 | -3.29 | 13,600 | 13,200 | 3,366 | 280 |
| PPSP | 2,320 | 1.75 | 4.50 | 6.42 | 2,320 | 2,210 | 81,415 | 167 |
| PAS | 11,340 | -0.18 | 0.53 | -9.86 | 11,420 | 11,240 | 14,806 | 973 |
| ABC | 6,920 | 0.00 | -3.62 | -31.21 | 7,180 | 6,920 | 737,886 | 2,997 |
| PEPC | 2,410 | 0.42 | 1.69 | -12.04 | 2,420 | 2,370 | 2,466 | 181 |
| MJQE | 2,050 | 0.00 | 0.99 | -3.76 | 2,050 | 2,030 | 76,667 | 664 |
| CGSM | 2,430 | -0.41 | -0.82 | -7.60 | 2,460 | 2,420 | 154,716 | 4,761 |
| DBDE | 2,020 | -0.49 | -0.98 | -5.61 | 2,060 | 2,020 | 94,317 | 37 |
| JSL | 3,500 | 1.45 | 0.86 | -20.45 | 3,510 | 3,400 | 14,078 | 90 |
| 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 | 2Q24 | 1,489 | 16,608 | 4.16 | 0.37 | 1.38 | 7.88 |
| GTI | 2Q24 | 47 | 7,165 | 108.94 | 0.71 | 0.62 | 22.53 |
| PPAP | 3Q24 | 2,406 | 40,010 | 5.63 | 0.34 | 1.73 | 3.57 |
| PPSP | 3Q24 | 267 | 3,759 | 8.68 | 0.62 | 2.56 | 4.93 |
| PAS | 3Q24 | 901 | 11,880 | 12.59 | 0.95 | 2.38 | 7.94 |
| ABC | 3Q24 | 1,041 | 13,521 | 6.65 | 0.51 | 0.86 | NA |
| PEPC* | 1Q25 | -1,009 | -17 | NA | NA | 4.21 | NA |
| MJQE | 3Q24 | 41 | 290 | 49.58 | 7.06 | 4.11 | 14.28 |
| CGSM | 3Q24 | 137 | 603 | 17.73 | 4.03 | 6.66 | 14.43 |
| JSL | 3Q24 | 3 | 677 | 1285.50 | 5.17 | 3.87 | 28.52 |
| DBDE | 3Q24 | -334 | 1,483 | NA | 1.36 | 0.58 | NA |
| 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* | 3,273 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,477 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,102 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,664 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 131 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,872 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,119 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 2,946 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 634 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,491 |
| *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) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Issuance ('K units, Latest) | 10.0 | 20.0 | 0.0 | 0.0 | 0.0 |
| Coupon rate (Latest) | 3.50% | 4.00% | 4.00% | 4.75% | 5.25% |
| Successful yield (Latest) | 3.85% | 4.00% | - | - | - |
| Latest bidding | 24-Apr-24 | 29-May-24 | 13-Nov-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. | |||||
| Stock Charts |
Main Board
Growth Board
