US firm plans up to $1 billion investment in Cambodia after tariff discussions, official says
| News Highlights |
Economy and Industry
US firm plans up to $1 billion investment in Cambodia after tariff discussions, official says Sun Chanthol, Deputy Prime Minister of Cambodia, announced an American company's potential investment of $500 million to $1 billion in Cambodia, contingent upon the completion of reciprocal tariff negotiations with the United States. Speaking at the Ministry of Commerce on January 9, Chanthol highlighted the company's current procurement of medical supplies from Cambodia and their intention to establish storage facilities in the country. He emphasized that this investment would support job creation and expand the supply chain. Ongoing negotiations aim for tariff reductions, particularly in the garment, footwear, and travel goods sectors, with a target of reducing tariffs from 19% to ideally 0%, given that the U.S. does not produce these goods domestically. (Source: Khmer Times)
Cambodia-China trade surpasses $19 billion in 2025 Cambodia's bilateral trade with China surpassed $19 billion in 2025, reflecting a 29% increase from 2024. However, a trade imbalance persists, as Cambodian exports fell by 3.6% to $1.68 billion, while imports surged by 34.3% to $18.04 billion, worsening the trade deficit. China remains Cambodia's primary trading partner, supplying crucial goods for domestic manufacturing. Amid ongoing U.S. trade policies affecting Cambodia, Vice President of the Cambodia Chinese Commerce Association, Lor Vichet, called for improved domestic production and targeted export strategies to mitigate the deficit. In 2025, Cambodia's total trade volume with global markets reached over $65 billion, indicating resilience despite global economic challenges, with garments and textiles leading exports. The Ministry of Commerce emphasized a focus on market access and value-added production as key to sustainable trade growth moving forward. (Source: Khmer Times)
Ministry of Commerce waives penalties for late annual filings, limits fines to one year The Ministry of Commerce of Cambodia has announced a new penalty-waiver policy for companies that have failed to submit annual reports. This initiative aligns with governmental policies and responds to company requests for penalty waivers. Companies must adhere to two main conditions: they must pay any penalties for the past year within 60 working days of the announcement, and participate in a shareholder background check to aid anti-money laundering efforts. Failure to comply with these conditions will result in the company being marked as inactive, impacting its business registration and associated rights. The Ministry aims to enhance the business environment and improve the efficiency of commercial laws and business procedures in Cambodia. Company directors and managers are urged to acknowledge this announcement and implement the necessary actions promptly to remain compliant. For further inquiries, they can contact the MOC Call Center at 1266. (Source: Khmer Times)
Corporate News
ABA Bank earns JP Morgan's 2025 Elite Quality Recognition Award, setting a global standard As Cambodia's largest commercial bank, ABA Bank has been awarded the Elite Quality Recognition Award 2025 from JP Morgan for the sixth consecutive year. This achievement is attributed to ABA's investment in advanced technology, achieving an industry-leading straight-through processing (STP) rate of 99.81% for USD clearing in 2024. The award was presented on 25 November 2025, emphasizing ABA's commitment to secure and efficient cross-border transactions. Deputy CEO Zhiger Atchabarov highlighted the bank's dedication to exceptional service, while JP Morgan's Executive Director, Giang Bui, praised ABA's operational efficiency in international payments. This recognition reinforces ABA's role in driving Cambodia's financial growth and establishes its reputation among global banking institutions. (Source: Cambodia Investment Review)
Stock Market
CSX index slips 0.21% as trading ends lower On 12 January 2026, the CSX Index declined by 0.21% to close at 426.4 points. On the Main Board, PWSA (+0.31%) recorded gains, while PPSP (-1.42%), ABC (-0.54%), MJQE (-0.48%), PEPC (-0.35%), PAS (-0.15%), and PPAP (-0.14%) declined. GTI and CGSM remained unchanged. On the Growth Board, DBDE remained unchanged, while JSL declined by 0.79%. Total trading volume reached 97,878 shares, with a turnover of KHR 512 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 426.36 | -0.21 | 97,878 | 11,777 |
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 | 6,380 | 0.31 | 0.63 | 0.63 | 6,420 | 6,300 | 42,603 | 555 |
| GTI | 8,180 | 0.00 | 2.00 | 2.00 | 8,180 | 7,020 | 34,220 | 327 |
| PPAP | 14,220 | -0.14 | -0.56 | -0.56 | 14,500 | 14,080 | 12,212 | 294 |
| PPSP | 2,090 | -1.42 | 0.97 | 0.97 | 2,140 | 2,030 | 104,292 | 150 |
| PAS | 12,980 | -0.15 | 0.15 | 0.15 | 13,060 | 12,760 | 5,953 | 1,113 |
| ABC | 7,420 | -0.54 | 1.37 | 1.37 | 7,460 | 7,120 | 234,929 | 3,214 |
| PEPC | 2,880 | -0.35 | 2.13 | 2.13 | 2,890 | 2,780 | 1,174 | 216 |
| MJQE | 2,060 | -0.48 | 1.48 | 1.48 | 2,070 | 1,990 | 52,667 | 668 |
| CGSM | 2,500 | 0.00 | 0.40 | 0.40 | 2,520 | 2,470 | 41,592 | 4,898 |
| DBDE | 2,190 | 0.00 | 0.92 | 0.92 | 2,190 | 2,140 | 9,697 | 40 |
| JSL | 2,500 | -0.79 | 1.63 | 1.63 | 2,560 | 2,400 | 71,791 | 64 |
| 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 | 2Q25 | 827 | 11,622 | 7.71 | 0.55 | 1.74 | 14.99 |
| GTI | 2Q25 | 29 | 7,023 | 280.71 | 1.16 | 1.00 | 44.27 |
| PPAP | 1Q25 | 2,951 | 22,115 | 4.82 | 0.64 | 1.65 | 4.13 |
| PPSP | 2Q25 | 735 | 4,376 | 2.84 | 0.48 | 0.96 | 2.12 |
| PAS | 1Q25 | 1,212 | 8,224 | 10.71 | 1.58 | 2.34 | 8.06 |
| ABC | 2Q25 | 1,460 | 14,410 | 5.08 | 0.51 | 0.89 | NA |
| PEPC* | 3Q25 | -1,445 | -1,303 | NA | NA | 3.45 | NA |
| MJQE | 2Q25 | 45 | 340 | 45.60 | 6.06 | 4.03 | 13.16 |
| CGSM | 2Q25 | 25 | 618 | 101.76 | 4.04 | 7.14 | 19.77 |
| JSL | 2Q25 | -82 | 492 | NA | 5.08 | 18.50 | 32.32 |
| DBDE | 2Q25 | 147 | 1,933 | 14.94 | 1.13 | 0.33 | 7.58 |
| 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 |
| ABC32A | 0 | 0.0 | - - | khAA | Subordinated Bond | 8.50% | 2,202 |
| ABC32B | 0 | 0.0 | - - | KhAA | Subordinated Bond | 8.50% | 2,244 |
| ABC32C | 0 | 0.0 | - - | khAA | Subordinated Bond | 7.50% p.a. | 2,435 |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability Bond | SOFR +3% or 5.5% per annum, whichever is higher | 2,864 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% Annually | 1,068 |
| CIAF30A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 5.60% | 1,515 |
| GT27A | 0 | 0.0 | - - | N/A | Plain Bond, Green Bond | 7% per annum | 693 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green Bond | Term SOFR + 1.5% | 1,255 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain Bond | 7% Annually | 2,463 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | SOFR+3,5% or 5% per annum (take which one is higher) | 710 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed Bond | 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) | 2,537 |
| SNTD40A | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day SOFR Average + 1.80% | 5,189 |
| SNTD40B | 0 | 0.0 | - - | N/A | Green Infrastructure Bond | 180-Day Average SOFR + 1.60% (4.00% - 6.00%) | 5,189 |
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 5 Y | 10 Y | |
| Total issuance ('K units) | 238.1 | 312.0 | 384.8 | 18.0 | 0.0 |
| Outstanding (KHR'bn) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Issuance ('K units, Latest) | 34.0 | 0.0 | 157.5 | 8.0 | 0.0 |
| Coupon rate (Latest) | 2.70% | 3.20% | 3.40% | 4.34% | 4.60% |
| Successful yield (Latest) | 3.25% | - | 3.90% | 5.00% | - |
| Latest bidding | 23-Apr-25 | 21-May-25 | 22-Oct-25 | 45,861 | 45,889 |
| *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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