The Securities and Exchange Commission of Cambodia (SEC-Cambodia) and the Securities and Exchange Commission of Thailand (SEC-Thailand) have signed a memorandum of understanding (MoU) bolstering cooperation between the neighbouring markets.
The MoU, which marks another step towards developing an integrated ASEAN capital market, commits both regulators to sharing information on daily trends, trades and general market information, according to the requirements outlined in the agreement.
Ming Bankosal, director-general of SEC-Cambodia, signed the MoU with SEC-Thailand secretary-general Vorapol Socatiyanurak in Phnom Penh on Wednesday.
Bankosal said SEC-Thailand had already been assisting in training SEC-Cambodia officials in the past.
“The MoU will provide a window for the two regulatory authorities to promote each other’s markets in greater cooperation,” he said.
Stephen Hsu, CEO of Phnom Penh Securities, attended Wednesday’s signing along with fund managers, investment companies and securities firms from the two countries. He welcomed the move, saying that it opens the doors for investors in both countries to explore regional investments.
“Currently, Thai investors are looking for more investment outside Thailand, but they need confidence in investment too.”
“[The MoU] will make Thai investors, especial institutional investors, understand more about trading rules and opportunities in the Cambodian stock market,” Hsu said.
The Cambodia Securities Exchange (CSX), which is part-owned by Korea Exchange, officially commenced trading in April 2012 when the state-owned Phnom Penh Water Supply listed on the bourse.
Taiwanese-owned garment manufacturer Grand Twins International (GTI) last month confirmed it would start trading in May. Upon listing, GTI will become the first privately owned company to go public on the CSX.