Cambodia Weekly Financial News
Cambodia Weekly Financial News
2024-08-30View Times｜ 1032
Cambodia Weekly Financial News
August 23 ~ 29 , 2024
23 August 2024
The first capital market forum of Cambodia Securities was held in Phnom Penh
The Civil Service Minister Hun Many said the forum was an important platform for investors, experts, and stakeholders to share their views and experiences on the investment in and development of the securities market in Cambodia.” The forum is crucial for participants to explore investment potential in the Cambodia Securities Exchange” he said at the event.” This forum will contribute to boosting CSX’s development.”. Meanwhile, Many highlighted the Kingdom’s peace and stability as the prerequisite for investment and socio-economic development. CSX’s Chief Executive Officer Hong Sok Hour said so far, 23 companies are listed in CSX, including 11 equity firms and 12 corporate bond firms, with a collective capital of almost $400 million
Source : Khmer Times
24 August 2024
NBC Implements Financial Safeguards to Strengthen Economy
The National Bank of Cambodia has ordered banking and financial institutions to maintain a capital conservation ratio of 1.25 percent and a reserve requirement rate in the currency at seven percent until December 31, 2025, to bolster the economy. According to a statement from NBC on August 23, the move aims to give institutions more chances to extend credit while supporting the nation’s economic growth. It added that loans for customers experiencing temporary financial difficulties should be reorganized per the guidelines in a separate circular. “Institutions must issue loans with high attention in order to guarantee sustained growth and contribute to the stability of the overall banking system,” the statement said. “The NBC will pay close attention to the stability of the financial sector and the effectiveness of the implementation of the above favorable measures.”
Source : Kiripost
24 August 2024
Cambodia- ASEAN trade volume to reach more than 9 billion USD in 7 months 2024
According to the report, in the first seven months of 2024, Cambodia exported goods to ASEAN markets amounting to 2,999.82 million US dollars, an increase of 9.35% compared to the same period in 2023 and re-imported. In the amount of 6,196.60 million US dollars, an increase of 15.17% compared to the same period in 2023. Cambodia exported the most to the Vietnamese market at US $ 2,201.98 million, up 37.66 percent, followed by Thailand at US $ 499.14 million, down 13.23 percent, and Singapore at 118.43 percent. Million US dollars, down 73.57 percent, Malaysia $ 77.02 million, up 42.71 percent, Indonesia $ 62.17 million, up 155.73 percent, the Philippines $ 27.53 million, down 23 percent. $ 59 million, 271.99 percent, Brunei $ 2.49 million, down 2.93 percent, and Myanmar $ 0.47 million, down 54.05 percent.
Source : Cambodia China Times
26 August 2024
NBC’s Governor earns A- in Global Finance Central Banker Report Card 2024
The Governor of the National Bank of Cambodia (NBC) Chea Serey, has been graded an A- in the Central Banker Report Cards 2024 by the Global Finance Magazine. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 100 key countries, territories, and districts, as well as the EU, the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States. Grades are based on an “A+” to “F” scale for success in areas such as inflation control, economic growth goals, currency stability, and interest rate management. (“A” represents an excellent performance, down through “F” for outright failure.)“Global Finance’s annual Central Banker Report Cards honour those bank leaders whose strategies outperformed their peers through originality, creativity, and tenacity,” said Global Finance founder.
Source : B2B Cambodia
27 August 2024
CSX equity market cap declines 10% despite rise in investors
The Cambodia Securities Exchange (CSX) reported a total market capitalization of KHR 11.22 trillion, approximately $2.73 billion, for its equity market at the end of Quarter 2 (Q2), 2024, a decline of 10.09 percent compared to the same period last year. According to a report released yesterday, the CSX index at the end of Q2 this year was 414.14, a decrease of 9.36 percent compared to Q1, 2024, and 10.14 percent compared to Q2, 2023. The decline in market capitalization compared to Q1, 2024, was estimated at 9.34 percent. Currently, there are two types of securities, stocks and bonds, traded on CSX. For the equity market, there are 11 listed companies of which nine are listed on the Main Board and two on the Growth Board. The total trading volume was approximately 10.59 million shares, in which the Main Board accounted for 92.39 percent and the Growth Board accounted for 7.61 percent during Q2, 2024. In all, 7,384 investors participated in the equity market, an increase of 21.41 percent, compared to Q1, 2024. Among these, Cambodian investors constituted approximately 97.17 percent.
Source: Khmer Times
28 August 2024
Young Workforce to fuel rapid Cambodia Growth for 20 years
Cambodia’s demographic advantage of having a young population is the biggest in the region which can ensure another 20 years or more of rapid economic growth in the country, according to a study of the Mekong Strategic Partners. Out of Cambodia’s total population of over 16 million, more than 60 percent are under the age of 35. With a labor force participation rate of about 80 percent, Cambodia has a young and active workforce that can serve all sectors of a business or investment, the study revealed, according to a release by the Ministry of Information. The literacy rate in Cambodia is growing rapidly, reaching almost 90 percent in 2019. Since 2008, the employment rate has increased with the support of the industry, the study showed.
Source: Khmer Times
29 August 2024
WorldBridge signs JV with Bitkub Capital
Cambodia’s banking system continues to be resilient in both capital and liquidity, although credit quality and profitability have declined, said the National Bank of Cambodia (NBC). Loans have increased 2.6 percent to 238.1 trillion riel ($59 billion), while deposits have increased 13.4 percent to 209.9 trillion riels ($51.9 billion) for H1 2024. The banking industry seems to be headed for further slowdown in 2024, unless the demand for loans picks up in the latter half of the year. The NBC attributed the slow credit growth to weak recovery in some sectors of the economy. “Credit quality and profitability have declined as fund costs have risen and credit growth has slowed due to the weak recovery of some sectors of the economy combined with prudent lending of banking and financial institutions.”
Source: Khmer Times
29 August 2024
Cambodia set to sign DTAs with Laos, Philippines
Cambodia will soon sign double taxation agreements (DTAs) with Laos and the Philippines, as it has completed technical procedures for the deals, the General Department of Taxation (GDT) said. The Kingdom is working with seven countries on DTA to enhance its appeal for foreign direct investments and sharpen international competitiveness. The seven countries are the Philippines, Laos, Myanmar, France, Japan, Morocco, and the United Arab Emirates, said Bun Nary, GDT Deputy Director-General.“ Two DTAs have been completed at a technical level and are being prepared for signing soon — between Cambodia and Laos and Cambodia and the Philippines,” Nary said during a workshop on the Exchange of Information on DTA agreements on August 27.DTA not only avoids double taxation but also plays an important role in attracting foreign direct investment and increasing international competitiveness, she said.
Source: Khmer Times
Lady Aegies Comment : To be continue...............
