Preah Sihanouk's growth generates over 100,000 jobs
| News Highlights |
Economy and Industry
Preah Sihanouk's growth generates over 100,000 jobs Preah Sihanouk province is emerging as a key industrial and tourism hub in Cambodia, attracting significant investments and creating thousands of jobs. In 2024, the province hosted 270 factories, generating $2.8 billion in investment and over 100,000 jobs. Infrastructure development, including improved roads, waste management, and tourism services, is a priority to support economic growth and enhance the coastal area's appeal. The province also benefits from a special investment program, with over $6 billion in projects approved. Sihanoukville's strategic location, industrial zones, and expanding port infrastructure position it for future growth as a Southeast Asian economic powerhouse. (Source: Khmer Times)
Cambodia's property sector in 2025: Key economic drivers and challenges ahead Cambodia's economy is expected to grow by around 6.1% in 2025, driven by tourism, exports, and infrastructure projects. The property market remains challenging, with price corrections, though construction activity has seen a boost, with over $1 billion in investments in 2024. Key infrastructure projects are expected to drive growth in the construction sector, while new stamp duty exemptions for first-time homebuyers in 2025 aim to stimulate the real estate market. Condo prices in Phnom Penh are holding steady, with a significant increase in supply expected. However, global economic risks, geopolitical tensions, and credit issues remain challenges for Cambodia in 2025. (Source: Khmer Times)
Cambodia's travel sector grows more competitive against Thailand Cambodia's tourism sector is rapidly growing and attracting international travelers, with some experts suggesting it could soon rival neighboring Thailand. The country is becoming competitive for both luxury and budget travelers, offering high-end amenities like private island resorts and helicopter tours. Since the pandemic, Cambodia has seen an increase in wealthier tourists, particularly couples and families. Its growing appeal is reflected in the rise of expatriates moving there, drawn by simpler and cheaper visa options. Cambodia's tourism revenue reached $3.04 billion in 2023, while international arrivals in 2024 are projected to hit 6.7 million, still far behind Thailand's 35 million tourists. (Source: Khmer Times)
Corporate News
Prince Foundation collaborates with NTU PEAK ASEAN Program to tackle development issues in Cambodia Prince Foundation welcomed 10 Nanyang Technological University (NTU) students from Singapore for a three-week program in Cambodia aimed at improving education access and supporting young entrepreneurs. The students, part of the NTU PEAK ASEAN Program, worked on field research to address challenges in underserved communities. This program helps students develop leadership and problem-solving skills by collaborating with local organizations to create socio-economic solutions. Prince Foundation provided mentorship, guiding students to craft solutions aligned with Cambodia's development goals. (Source: B2B Cambodia)
Stock Market
CSX index drops 0.13% amid mixed stock performance The CSX Index declined by 0.13% compared to the previous closing, ending at 410.1 points. On the main board, gains were led by MJQE (+0.48%) and PPSP (+0.46%), while PEPC (-0.83%), GTI (-0.79%), PWSA (-0.63%), PPAP (-0.43%), ABC (-0.27%), and PAS (-0.17%) recorded declines. CGSM ended the session unchanged. On the growth board, DBDE remained steady, whereas JSL fell by 1.75%. The trading session concluded with a total volume of 46,647 shares and a turnover of KHR 257 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 410.14 | -0.13 | 46,647 | 11,000 |
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 | 6,300 | -0.63 | -0.94 | -0.94 | 6,380 | 6,160 | 22,689 | 548 |
| GTI | 5,040 | -0.79 | -0.79 | -0.79 | 5,220 | 5,020 | 10,086 | 202 |
| PPAP | 13,800 | -0.43 | -0.29 | -0.29 | 13,860 | 13,300 | 1,567 | 285 |
| PPSP | 2,170 | 0.46 | 0.00 | 0.00 | 2,210 | 2,150 | 4,781 | 156 |
| PAS | 11,760 | -0.17 | 1.73 | 1.73 | 11,780 | 11,200 | 2,767 | 1,009 |
| ABC | 7,400 | -0.27 | -1.86 | -1.86 | 7,540 | 6,900 | 77,398 | 3,205 |
| PEPC | 2,400 | -0.83 | 0.42 | 0.42 | 2,470 | 2,340 | 2,540 | 180 |
| MJQE | 2,080 | 0.48 | 0.00 | 0.00 | 2,080 | 2,040 | 14,707 | 674 |
| CGSM | 2,420 | 0.00 | -0.41 | -0.41 | 2,440 | 2,410 | 17,091 | 4,741 |
| DBDE | 2,030 | 0.00 | -1.46 | -1.46 | 2,060 | 2,010 | 6,814 | 37 |
| JSL | 3,360 | -1.75 | -1.75 | -1.75 | 3,440 | 3,360 | 711 | 86 |
| 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 | 3Q24 | 1,279 | 16,856 | 4.92 | 0.37 | 1.48 | 10.21 |
| GTI | 3Q24 | 91 | 7,114 | 55.69 | 0.71 | 0.59 | 15.64 |
| PPAP | 3Q24 | 2,406 | 40,010 | 5.74 | 0.34 | 1.76 | 3.63 |
| PPSP | 3Q24 | 267 | 3,759 | 8.11 | 0.58 | 2.39 | 4.64 |
| PAS | 3Q24 | 901 | 11,880 | 13.06 | 0.99 | 2.46 | 8.15 |
| ABC | 3Q24 | 1,041 | 13,521 | 7.11 | 0.55 | 0.92 | NA |
| PEPC* | 1Q25 | -1,009 | -17 | NA | -139.43 | 4.19 | NA |
| MJQE | 3Q24 | 41 | 290 | 50.30 | 7.16 | 4.17 | 14.48 |
| CGSM | 3Q24 | 137 | 603 | 17.65 | 4.01 | 6.63 | 14.38 |
| JSL | 3Q24 | 3 | 677 | 1234.08 | 4.96 | 3.71 | 27.69 |
| DBDE | 3Q24 | -334 | 1,483 | NA | 1.37 | 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 Bond | Floating* | 3,233 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,437 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 1,062 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,624 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed Bond | 5.50% Annually | 91 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,832 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating** | 1,079 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating*** | 2,906 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain Bond | 4.50% Annually | 594 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked Bond | Floating**** | 1,451 |
| *SOFR +3% or 5.5% per annum, whichever is higher; **SOFR+3,5% or 5% per annum (take which one is higher);***SOFR+3,5% or 5% per annum (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% per annum (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-?-24 | 29-?-24 | 13-??-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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