Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - ACLEDA, Tong Yang sign MoU

ACLEDA, Tong Yang sign MoU

ACLEDA, Tong Yang sign MoU

Tong Yang Securities (Cambodia) and ACLEDA Securities yesterday signed a memorandum of understanding to partner the services they offer to the Kingdom’s budding financial markets.

To expand their footprint in the market,  the companies aimed to provide a combination of advisory and underwriting services for companies planning to list on the CSX, officials said yesterday.

ACLEDA Bank president and chief executive In Channy pointed to Tong Yang’s experience with its home South Korean markets as a main reason for the partnership, while Tong Yang president and chief executive You Joon Ryeol noted ACLEDA’s reach within the Kingdom.

“The partnership we are marking today will create the real synergy for each party’s growth by putting each other’s expertise and strength together,” You Joon Ryeol said.

Tong Yang Securities is a licensed underwriter that is readying Phnom Penh Water Supply and Telecom Cambodia for trading on the Cambodia Securities Exchange, which launched in July without any public listings.

ACLEDA Securities, a subsidiary of ACLEDA Bank, is licensed as a broker, in addition to other services including cash settlement agent.

Fifteen securities firms – seven underwriters, four brokers, three dealers and two investment advisers – had been licensed by the Securities and Exchange Commission of Cambodia, but a merger between SBI Phnom Penh Securities and Cambodia Capital last month shrank that number to 14.

SBI director Jeremy Ha said the large number of securities firms was not a problem in a new market such as Cambodia.

“In my view, it’s okay because the market is open,” Ha said, adding that other firms might seek partnerships to bolster their positions in the Kingdom’s financial markets.


  • Kak Channthy, Cambodian Space Project frontwoman, killed in crash at 38 [Updated]

    Updated 5:05pm, Tuesday, March 20, 2018 Kak Channthy, frontwoman of popular The Cambodian Space Project, was killed Tuesday morning in a traffic accident in Phnom Penh. She was 38. Channthy, the internationally recognised singer-songwriter also known as “Srey Thy”, was reportedly travelling in a tuk-tuk on the city's

  • Australians protest Asean summit visit by PM Hun Sen

    Hundreds of protesters gathered in Sydney’s Hyde Park on Friday to protest against Cambodian strongman Hun Sen, who claimed to have been gifted millions of dollars by the Australian government ahead of a special Asean summit this weekend. An estimated 300 protesters, the majority of

  • One Australian, one Cambodian killed in explosion at military base

    Updated: 5:20pm, Friday 16 March 2018 An Australian tourist and a Cambodian soldier were killed in an explosion on Thursday afternoon at an army base in Cambodia’s Kampong Speu province. The Australian, whom the government initially identified as a technical demining expert in his 40s, and

  • Peeling back layers of prehistory in Battambang

    When the man passed away, he had not yet reached 50. He belonged to a tribe that had settled near the Sangker River in Battambang province, likely cultivating the fields and raising animals. On the side, they hunted for boars, and even turtles, one of which