Cambodia's foodgrain production reaches 39.4 million tonnes
| News Highlights |
Economy and Industry
Cambodia's foodgrain production reaches 39.4 million tonnes In 2024, Cambodia's foodgrain production reached an impressive 39.4 million tonnes, with 12 million tonnes exported to 95 countries, generating approximately $5.3 billion in revenue. The Ministry of Agriculture, Forestry and Fisheries (MAFF) highlighted that crops contributed to 61% of the total agricultural products. Despite challenges such as insects and climate changes, the sector saw an increase of 2.6 million tonnes compared to 2023. Paddy production alone reached 13.9 million tonnes, ensuring the Kingdom's food security and enabling the export of 8.2 million tonnes of paddy and rice. Notably, Phkar Romdoul rice won the World's Best Rice Award for the sixth time, and Fragrant rice received a gold award from China. (Source: Khmer Times)
Government extends special incentives for Sihanoukville investments In January 2024, the Cambodian government announced an extension to the special incentives in Sihanoukville through the "Special Program to Promote Investment in Preah Sihanouk Province 2024". The program introduces measures such as new visas, construction and non-construction opportunities for investors, and a streamlined approval process. The special incentives are expected to last till the end of 2025. The government has established the Preah Sihanouk Province Investment Promoting Working Group (SHVIP) to lead, coordinate, and implement the program, ensuring a comprehensive approach to revitalizing Sihanoukville's investment landscape. (Source: Khmer Times)
Kampot International Tourism Port to open in April The Kampot International Tourism Port (KITP) is set to be officially opened on April 3, 2025. The port, operated by AZ Builders Co., Ltd, began construction in 2018 and was completed in 2022 as part of a $10 million Tourism Infrastructure Development Project funded by the Asian Development Bank. Although construction was completed in 2022, the port had not been commissioned due to the need for an operating company with sufficient investment capital and experience. The Ministry of Public Works and Transport highlighted the benefits of the port, including linking Cambodia's archipelagos with regional and global destinations, boosting confidence among visitors and investors, creating jobs, and supporting the tourism sector. (Source: Khmer Times)
Corporate News
Phillip General Insurance and Hattha Bank launch strategic bancassurance partnership Phillip General Insurance and Hattha Bank have entered into a strategic bancassurance partnership to enhance financial protection and insurance services for customers. The collaboration aims to increase accessibility to insurance services, providing customers with comprehensive financial solutions. Hattha Bank, known for its diversified financial services, will leverage this partnership to offer tailored insurance products to its customers. The partnership is expected to strengthen financial inclusion and provide customers with peace of mind through enhanced insurance coverage. Both organizations are committed to delivering high-quality financial and insurance services, contributing to the overall economic growth and stability of Cambodia. (Source: Khmer Times)
Stock Market
CSX index slightly declines by 0.07% amid mixed performance The CSX Index was down by 0.07%, closing at 410.4 points. On the main board, PEPC (+0.42%) and PWSA (+0.32%) led the gains, with PPAP (-0.57%) and ABC (-0.27%) posting losses. GTI, PPSP, PAS, MJQE, and CGSM remained unchanged. On the growth board, DBDE remained unchanged and JSL were down by 0.32%. The session recorded a total trading volume of 22,898 shares, with a turnover of KHR 125 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 410.39 | -0.07 | 22,898 | 11,007 |
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 | 0.32 | -0.63 | -0.63 | 6,380 | 6,240 | 78,603 | 550 |
| GTI | 5,320 | 0.00 | 4.72 | 4.72 | 5,360 | 5,020 | 51,787 | 213 |
| PPAP | 13,920 | -0.57 | 0.58 | 0.58 | 14,000 | 13,500 | 7,160 | 288 |
| PPSP | 2,140 | 0.00 | -1.38 | -1.38 | 2,180 | 2,130 | 116,783 | 154 |
| PAS | 11,740 | 0.00 | 1.56 | 1.56 | 11,800 | 11,360 | 10,061 | 1,007 |
| ABC | 7,300 | -0.27 | -3.18 | -3.18 | 7,540 | 7,080 | 385,482 | 3,162 |
| PEPC | 2,390 | 0.42 | 0.00 | 0.00 | 2,440 | 2,320 | 13,639 | 179 |
| MJQE | 2,080 | 0.00 | 0.00 | 0.00 | 2,080 | 2,050 | 70,840 | 674 |
| CGSM | 2,440 | 0.00 | 0.41 | 0.41 | 2,440 | 2,420 | 102,591 | 4,781 |
| DBDE | 2,060 | 0.00 | 0.00 | 0.00 | 2,060 | 2,030 | 32,018 | 38 |
| JSL | 3,090 | -0.32 | -9.65 | -9.65 | 3,420 | 3,060 | 19,101 | 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 | 58.78 | 0.75 | 0.62 | 16.22 |
| PPAP | 3Q24 | 2,406 | 21,877 | 5.79 | 0.64 | 1.78 | 3.66 |
| PPSP | 3Q24 | 267 | 3,759 | 8.00 | 0.57 | 2.36 | 4.58 |
| PAS | 3Q24 | 784 | 7,630 | 14.97 | 1.54 | 2.46 | 8.98 |
| ABC | 3Q24 | 1,041 | 13,404 | 7.01 | 0.54 | 0.90 | NA |
| PEPC* | 1Q25 | -1,009 | -17 | NA | -138.85 | 4.18 | 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 | 1134.92 | 4.56 | 3.42 | 26.10 |
| 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* | 3,217 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,421 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 1,046 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,608 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed Bond | 5.50% Annually | 75 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,816 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating** | 1,063 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | Floating*** | 2,890 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain Bond | 4.50% Annually | 578 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked Bond | Floating**** | 1,435 |
| *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) | 204.1 | 312.0 | 85.3 | 10.0 | 0.0 |
| Outstanding (KHR'bn) | 56.0 | 312.0 | 85.3 | 10.0 | 0.0 |
| Issuance ('K units, Latest) | 24.0 | 20.0 | 0.0 | 0.0 | 0.0 |
| Coupon rate (Latest) | 2.80% | 4.00% | 3.80% | 4.75% | 5.25% |
| Successful yield (Latest) | 3.13% | 4.00% | - | - | - |
| Latest bidding | 23-Jan-25 | 29-May-24 | 11-Dec-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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