Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia, US brokers sign off on agreement

Cambodia, US brokers sign off on agreement

Cambodia, US brokers sign off on agreement

Local company Tong Yang Securities has joined forces with Decker & Co, a US-based broker company specialising in Southeast Asian markets, to promote Cambodia’s Stock Exchange (CSX) to investors in the United States.

Han Kyung Tae, CEO of Tong Yang Securities (Cambodia), said yesterday in an email that his firm signed off on the “chaperone agreement”, which enables US institutional investors to open accounts with the CSX from abroad starting from December 23, 2013.

The agreement permits Tong Yang to reach investors registered in the US, according to Han, and so far more than a dozen American investors have shown interest in potential Cambodian investment opportunities under the terms of the agreement.

“Decker has been very actively promoting the Cambodian stock market to US institutional investors,” Han told the Post.

“US institutional investors have opened their trading accounts with us, which now represent 13 per cent of our total institutional investor.”

Decker & Co now operates brokerage operations in Thailand, Vietnam, Sri Lanka, Malaysia, Indonesia, Singapore, Laos, the Philippines and most recently Cambodia.

“We're looking forward to working with our new partners in the Philippines and Cambodia,” Mark Decker, CEO of Decker & Co was quoted as saying on public relations firm Marketwired’s website on
April 22.

Soleil Lamun, deputy director of market operations at the CSX, said the partnership was positive as it opened up new investor opportunities to Cambodia’s securities market through Tong Yang.

“[The partnership will help bring] a bigger investor base and more capital flowing into our economy,” he said.

MOST VIEWED

  • Reuters: US Embassy fired 32 staff members for sharing pornography

    The United States Embassy in Phnom Penh has fired 32 non-diplomatic staff members who were allegedly caught exchanging pornographic images and video, including of minors, according to the news agency Reuters. Four sources, who spoke on condition of anonymity, told Reuters the content was shared in

  • Our 2018 guide to spending Khmer New Year in Phnom Penh

    Khmer New Year festivities are upon us. For the next few days, travellers will be making their way to their home provinces to eat, celebrate, play traditional games and visit a pagoda with offerings. If you will be staying put in Phnom Penh for the

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the