Cambodia and Kyrgyzstan explore opportunities to boost trade relations
| News Highlights |
Economy and Industry
Cambodia and Kyrgyzstan explore opportunities to boost trade relations The Royal Government of Cambodia and the Kyrgyz Republic have signed a memorandum of understanding (MoU) to enhance trade and investment ties between the two nations. The agreement was formalized by Sok Chenda Sophea, Deputy Prime Minister and Minister of Foreign Affairs, and Zheenbek Kulubaev, Kyrgyz Foreign Minister, during the 79th United Nations General Assembly in New York. The MoU establishes a framework for bilateral consultations and sets the stage for future joint meetings. Kulubaev expressed openness to welcoming Cambodian students for medical studies in Kyrgyzstan, which specializes in health education. Cambodia and Kyrgyzstan, which have maintained diplomatic relations since 1995, are looking to strengthen their bilateral and multilateral relations further. (Source: Khmer Times)
Deputy Prime Minister urges enhancement of customs training and expertise Deputy Prime Minister Aun Pornmoniroth has urged the Customs National School (CNS) to launch training programs aimed at developing human capital within Cambodia's customs administration during the inauguration of the WCO Asia/Pacific Regional Training Centre in Phnom Penh. He proposed four recommendations: organizing ongoing training for customs trainees, increasing WCO-accredited experts, aligning training with international trade regulations, and establishing a Customs Laboratory. Highlighting the center as a historic achievement, he noted its role in advancing human resource development in line with the Pentagonal Strategy. The event also featured the first WCO Asia-Pacific regional workshop on supply chain connectivity, attended by participants from 26 countries. (Source: Khmer Times)
Cambodia and US sign MOU to enhance rice exports and strengthen economic ties Cambodia and the United States have signed a five-year Memorandum of Understanding (MoU) to increase rice exports and bolster economic ties. This agreement aims to boost the availability of high-quality Cambodian rice, including jasmine varieties, in major US supermarkets like Costco and Walmart. Signed by Song Saran of the Cambodia Rice Federation and Patrick Murphy from Otis McAllister, the MoU expects exports to rise from 5,000 tonnes to 20,000 tonnes in the first year and reach 200,000 tonnes over five years. The agreement highlights the importance of meeting market standards for quality and packaging. In the first seven months of 2024, Cambodia exported 379,546 tonnes of milled rice, earning $280 million. (Source: Kiri Post)
Corporate News
Huawei strengthens commitment to Cambodia's digital advancement Huawei has reaffirmed its commitment to supporting Cambodia's digital transformation by collaborating with the government and key stakeholders to achieve the goals of the Pentagonal Strategy. During a visit to its headquarters in Beijing, Wang Ke, a senior representative, highlighted the company's contributions to Cambodia's ICT infrastructure over the past 25 years, including advancements in digital trade and government. Khuon Sudary, President of the National Assembly, emphasized the need for increased investment in education and healthcare sectors. Wang also discussed the importance of digital solutions for managing challenges like epidemics and reiterated Huawei's readiness to assist in developing digital energy, skills, and infrastructure for a more connected and inclusive society. (Source: Khmer Times)
Stock Market
CSX index edges up 0.56% amid mixed performance on September 25 On September 25, 2024, the CSX index inched up by 0.56%, closing at 411.4 points. On the main board, PEPC (+0.82%), CGSM (+0.41%), and PAS (+0.17%) recorded gains, while GTI (-1.47%), PWSA (-0.91%), and PPAP (-0.15%) experienced declines. PPSP, ABC, and MJQE remained unchanged. Meanwhile, on the growth board, both DBDE and JSL saw minor losses, slipping by 0.48% and 0.57%, respectively. Total trading volume reached 60,165 shares, with a total trading value of KHR 325 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 411.41 | 0.14 | 60,165 | 11,034 |
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 | 6,540 | -0.91 | -4.66 | -10.16 | 6,860 | 6,540 | 295,615 | 569 |
| GTI | 4,020 | -1.47 | 11.67 | 41.55 | 4,080 | 3,590 | 160,354 | 161 |
| PPAP | 13,560 | -0.15 | -0.29 | -3.14 | 13,900 | 13,360 | 4,355 | 280 |
| PPSP | 2,220 | 0.00 | -0.45 | 1.83 | 2,240 | 2,210 | 35,907 | 160 |
| PAS | 11,880 | 0.17 | -0.17 | -5.56 | 11,920 | 11,800 | 16,383 | 1,019 |
| ABC | 7,480 | 0.00 | 0.00 | -25.65 | 7,500 | 7,480 | 628,196 | 3,240 |
| PEPC | 2,450 | 0.82 | 0.00 | -10.58 | 2,500 | 2,410 | 16,821 | 184 |
| MJQE | 2,040 | 0.00 | 0.00 | -4.23 | 2,050 | 2,040 | 68,042 | 661 |
| CGSM | 2,430 | 0.41 | 0.41 | -7.60 | 2,430 | 2,410 | 54,855 | 4,761 |
| DBDE | 2,070 | -0.48 | 0.00 | -3.27 | 2,080 | 2,050 | 43,079 | 38 |
| JSL | 3,460 | -0.57 | 0.87 | -21.36 | 3,490 | 3,380 | 13,560 | 89 |
| 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 | 1Q24 | 1,298 | 16,580 | 5.04 | 0.39 | 1.48 | 9.75 |
| GTI | 2Q24 | 47 | 7,165 | 85.66 | 0.56 | 0.49 | 17.00 |
| PPAP | 2Q24 | 1,800 | 39,401 | 7.54 | 0.34 | 2.11 | 4.85 |
| PPSP | 2Q24 | 85 | 3,560 | 26.03 | 0.62 | 1.41 | 7.89 |
| PAS | 2Q24 | 1,132 | 11,977 | 10.49 | 0.99 | 2.63 | 6.67 |
| ABC | 2Q24 | 1,554 | 13,448 | 4.81 | 0.56 | 0.94 | NA |
| PEPC* | 4Q24 | -1,035 | 165 | NA | 14.80 | 4.32 | NA |
| MJQE | 2Q24 | 59 | 314 | 34.75 | 6.49 | 4.29 | 29.65 |
| CGSM | 2Q24 | 160 | 609 | 15.14 | 3.99 | 6.43 | 15.28 |
| JSL | 2Q24 | 1 | 669 | 4132.53 | 5.17 | 1.07 | NA |
| DBDE | 2Q24 | 80 | 1,932 | 25.85 | 1.07 | 0.55 | 8.80 |
| 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* | 3,338 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,542 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,167 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,729 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 196 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,937 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,184 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,011 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 699 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,556 |
| *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) | 52.0 | 312.0 | 85.3 | 10.0 | 0.0 |
| Issuance ('K units, Latest) | 10.0 | 20.0 | 20.0 | 10.0 | 0.0 |
| Coupon rate (Latest) | 3.50% | 4.00% | 4.50% | 5.00% | 5.25% |
| Successful yield (Latest) | 3.85% | 4.00% | 5.13% | 5.00% | - |
| Latest bidding | 24-Apr-24 | 29-May-24 | 18-Sep-24 | 45,497 | 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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