Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia Securities Exchange market capitalisation up 40%

Cambodia Securities Exchange market capitalisation up 40%

Content image - Phnom Penh Post
A CSX employee walks in front of a screen displaying the CSX stock price index in 2017. Heng Chivoan

Cambodia Securities Exchange market capitalisation up 40%

The Cambodia Securities Exchange (CSX) market capitalisation rose more than 40 per cent last year from 2017, mostly boosted by the rise in the Sihanoukville Autonomous Port (PAS) share price, the CSX said.

Market capitalisation increased roughly 44 per cent from about $303.80 million at the end of 2017 to about $442.92 million at the end of last year, it said on Monday.

Prices of four out of the five stocks ended higher compared to the beginning of the year, while the other ended lower. Most notably, PAS’ stock jumped almost 100 per cent over the last year.

CSX Market Operations Department acting director Kim Sophanita said market confidence, stock price increases, trading activity and the additional Phnom Penh Special Economic Zone (PPSP) share offering were factors boosting CSX’s market capitalisation.

“The increase in market cap in 2018 shows the growth and robustness of the securities sector in Cambodia,” she said.

In October, the PPSP issued 14 million additional shares to two strategic institutional investors, JWD Infologistics Plc, a logistics company from Thailand, and Bok Seng Group, a Singaporean company, bringing its proceeds to nearly $10 million.

The announcement also shows that the CSX Index rose from 340.22 to 480.98 points, or a 41 per cent increase over the year, while the daily average trading value grew 101 per cent from about $13,149 to about $26,701 per day.

The average volume increased seven per cent from 15,161 shares to 16,228 shares per day. The number of trading accounts more than doubled from 8,973 to 20,525, with 84 per cent owned by domestic investors, the CSX said.

This year’s expectation

Sophanita said to further boost the CSX’s growth this year, it will work harder to attract more companies to list in the exchange.

It said extending trading hours from 3.5 to seven hours per day, building an institutional investor base and attracting more local and foreign investors are also the main tasks needed to be done.

“We expect that 2019 will be a successful year for the market,” she said.

RHB Indochina Securities Plc CEO Iv Ranarith said the CSX is now attracting greater attention from domestic and foreign investors, subsequently pushing up the volume of stock trading and prices, especially from the third quarter of last year.

“For 2019, I think that trading activity in the CSX will be visibly more positive. On stock prices, I dare not say how it will change because it depends on the strength of each listed company,” he said.

The current growth of the CSX’s market capitalisation shows investors’ confidence, he added.

MOST VIEWED

  • Diplomatic passports issued to foreigners to be annulled

    The Ministry of Foreign Affairs and International Cooperation will move to annul diplomatic passports issued to those not born in Cambodia. Analysts say the move may be in relation to reports that former Thai prime minister Yingluck Shinawatra used a Cambodian passport to register as

  • Hun Sen warns Irish MP of EBA ‘mistake’

    Prime Minister Hun Sen on Saturday told former Irish premier Enda Kenny, still a member of the EU nation’s parliament, that the 28-nation bloc should not make a “third mistake” regarding Cambodia by using the preferential Everything But Arms (EBA) agreement to “take 16 million

  • The hairy little heroes saving many lives in rural Cambodia

    IN RURAL Siem Reap province, rats dare to tread where no person will, as these hairy little heroes place their lives on the line each day for the good of the local community. The rodents are the most important members of a special team, leading

  • PM warns EU and opposition on 34th anniversary of his rule

    HUN Sen reached the milestone of 34 years as Cambodian prime minister on Monday and used the groundbreaking ceremony for a new ring road around Phnom Penh to tell the international community that putting sanctions on the Kingdom meant killing the opposition. “Please don’t forget