Cambodia's trade with RCEP countries reaches $34.52 billion in 2024
| News Highlights |
Economy and Industry
Cambodia's trade with RCEP countries reaches $34.52 billion in 2024 In 2024, Cambodia's trade volume with RCEP countries reached $34.52 billion, marking a significant milestone. The RCEP agreement, along with bilateral free trade agreements, has played a crucial role in driving this growth. The kingdom's total export to fellow RCEP members amounted to almost $9.06 billion, while its total import reached $21.28 billion. The top trading partners under RCEP included China, Vietnam, Thailand, Japan and Singapore. The increase in trade volume highlights the effectiveness of Cambodia's trade policies and its integration into the regional and global economy. (Source: Khmer Times)
Cambodia's car tire exports surge by nearly 130% in 2024 Cambodia witnessed a significant increase in car tire exports in 2024, with a rise of 129.7% compared to the previous year. The country exported car tires worth $874.6 million, up from $380.6 million in 2023. This growth is attributed to the Regional Comprehensive Economic Partnership (RCEP) agreement and bilateral free trade agreements with China, South Korea, and the UAE, which have provided greater market access for Cambodian products. Six car tire manufacturing projects are currently underway in various special economic zones in Cambodia. The expansion of these projects is expected to further boost the country's export capacity and contribute to economic growth. (Source: Khmer Times)
Government allocates $150 million to stabilize rice prices The Cambodian government has allocated $150 million to stabilize rice prices and support farmers. This allocation includes $30 million for rice mills as working capital to purchase agricultural products from farmers. The government has also increased the credit guarantee mechanism for rice sector from $30 million to $150 million. This measure aims to ensure that rice mills can access loans from private banks to purchase rice from farmers, preventing harvested crops from going unsold. According to a CRF's report, 650 thousand tonnes of milled rice were exported by Cambodia in 2024, making a total revenue of $491 million. The initiative is part of the government's broader strategy to support the agricultural sector and ensure food security. (Source: Khmer Times)
Corporate News
ACLEDA Bank to raise over $1.2 billion in 2025 to support growth ACLEDA Bank has announced plans to raise over $1.2 billion in 2025 to support its medium- and long-term business plans and stimulate economic growth in Cambodia. This capital injection, which represents a threefold increase compared to the previous year, will be allocated to support the bank's operations and key economic sectors, including agriculture, retail, and services. The bank's President and Group Managing Director, Dr. In Channy, emphasized that 2025 is expected to be a pivotal year for the institution, with strong growth anticipated. The funds raised will be used to enhance the bank's lending capacity, expand its branch network, and invest in digital banking services to better serve its customers. (Source: Cambodia Investment Review)
Stock Market
CSX index gains 0.11% amid mixed performance on main and growth boards The CSX Index edged up by 0.11%, closing at 410.7 points. On the main board, PEPC (+0.86%), PAS (+0.34%), PPAP (+0.29%) and ABC (+0.27%) led the gains, while GTI (-1.12%) posted declines. PPSP, MJQE, and CGSM remained unchanged. On the growth board, JSL and DBDE slipped by 0.49% and 4.05%, respectively. The session recorded a total trading volume of 39,423 shares, with a turnover of KHR 183 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 410.73 | 0.11 | 39,423 | 11,016 |
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 | 6,320 | 0.00 | -0.63 | -0.63 | 6,380 | 6,200 | 71,962 | 550 |
| GTI | 5,300 | -1.12 | 4.33 | 4.33 | 5,360 | 5,020 | 43,979 | 212 |
| PPAP | 13,960 | 0.29 | 0.87 | 0.87 | 13,960 | 13,400 | 6,598 | 289 |
| PPSP | 2,140 | 0.00 | -1.38 | -1.38 | 2,180 | 2,130 | 110,827 | 154 |
| PAS | 11,680 | 0.34 | 1.04 | 1.04 | 11,800 | 11,340 | 8,385 | 1,002 |
| ABC | 7,340 | 0.27 | -2.65 | -2.65 | 7,540 | 6,900 | 345,464 | 3,179 |
| PEPC | 2,350 | 0.86 | -1.67 | -1.67 | 2,470 | 2,320 | 13,342 | 176 |
| MJQE | 2,080 | 0.00 | 0.00 | 0.00 | 2,080 | 2,050 | 58,181 | 674 |
| CGSM | 2,440 | 0.00 | 0.41 | 0.41 | 2,440 | 2,420 | 85,526 | 4,781 |
| DBDE | 2,050 | -0.49 | -0.49 | -0.49 | 2,060 | 2,020 | 27,344 | 38 |
| JSL | 3,080 | -4.05 | -9.94 | -9.94 | 3,430 | 3,080 | 16,523 | 79 |
| 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 | 12,359 | 4.94 | 0.51 | 1.40 | 10.13 |
| GTI | 3Q24 | 91 | 7,114 | 58.56 | 0.75 | 0.62 | 16.17 |
| PPAP | 3Q24 | 2,406 | 21,877 | 5.80 | 0.64 | 1.78 | 3.67 |
| PPSP | 3Q24 | 267 | 3,759 | 8.00 | 0.57 | 2.36 | 4.58 |
| PAS | 3Q24 | 784 | 7,630 | 14.89 | 1.53 | 2.45 | 8.95 |
| ABC | 3Q24 | 1,041 | 13,404 | 7.05 | 0.55 | 0.91 | NA |
| PEPC* | 1Q25 | -1,009 | -17 | NA | -136.53 | 4.11 | NA |
| MJQE | 3Q24 | 41 | 290 | 50.30 | 7.16 | 4.17 | 14.48 |
| CGSM | 3Q24 | 137 | 603 | 17.80 | 4.04 | 6.69 | 14.48 |
| JSL | 3Q24 | 3 | 677 | 1131.24 | 4.55 | 3.40 | 26.04 |
| DBDE | 3Q24 | -340 | 1,510 | NA | 1.36 | 0.58 | NA |
| NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *FY ending in June, **excluding non-voting shares | |||||||
| 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* | 3,220 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,424 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 1,049 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,611 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed Bond | 5.50% Annually | 78 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,819 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating** | 1,066 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating*** | 2,893 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain Bond | 4.50% Annually | 581 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked Bond | Floating**** | 1,438 |
| *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) | 32.0 | 312.0 | 85.3 | 10.0 | 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. | |||||
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