Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Final CamEx deal agreed

Final CamEx deal agreed

Final CamEx deal agreed

THE Korea Exchange (KRX) and the Cambodian government will sign an official joint venture agreement on Cambodia's proposed stock exchange next week, KRX officials said Thursday, adding that three state-owned enterprises were likely to be the first companies to list on the bourse after its expected launch in December.

The agreement,  to be signed Thursday, will replace an existing memorandum of understanding between the KRX and the Ministry of Finance, KRX project manager Inpyo Lee told the Post.

Formalising the arrangement would make it legally binding on both parties and move the exchange a step closer to reality, Lee said.

"It's [currently] just a gentlemen's agreement," he added.

Lee said the capital contribution of each side was confidential at this stage, but he said the Cambodian side would own 55 percent of the exchange and the KRX would control the remaining 45 percent.

He said the exchange was on track for a December launch, provided the companies slated to be listed complete preparations on time.

"It's critical [they are ready]," he said, adding that listing rules would be issued in March.

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all