Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodian students win out on ASEAN stock markets

Cambodian students win out on ASEAN stock markets

Cambodian students win out on ASEAN stock markets

Despite the Cambodian Stock Exchange (CSX) getting off to a sluggish start over the past three years, local university students are seemingly already on the way to becoming good stock-pickers.

The country winners of CIMB Bank’s ASEAN Stock Challenge 2014, a regional simulated stock trading competition, were announced yesterday in Phnom Penh.

The winners, two students from Zaman University who went by the team name of Dark Rangers, took home the $500 prize after almost doubling their virtual investments on ASEAN markets.

“We chose to invest in stocks listed on the Thai market,” said 21-year-old Ly Meng, one half of the Dark Rangers winning duo.

Thirty-two teams from Cambodian universities entered CIMB Bank’s annual competition. Each team is granted $80,000 of fake start-up capital to invest in ASEAN region markets over a period of three weeks. The team with the largest percentage increase at the end of the period is deemed to be the winner.

Dark Rangers finished out the three-week trading period with more than $151,000, up 89 per cent.

“I entered because I want to be a securities trader,” Meng said at yesterday’s winner’s announcement. “While Cambodia has a stock market, it is not very big yet, so I want to get involved in the development of the CSX.”

“At the moment, the CSX is difficult to trade on because there are not many companies, so there are really no options yet for a stock trader on a short-term basis,” he added.

This year marks the first time Cambodian universities have been included in CIMB Bank’s ASEAN Stock Challenge, which has run for the past five years and includes competitors from Malaysia, Indonesia, Singapore and Thailand.

Dark Rangers will now go on to compete in the regional final, which will be held on December 8 in Thailand, where judges will determine an overall winner based on each team’s investment strategies.

Seang Soleak, head of marketing at CIMB Bank said that the winning Cambodian team registered a greater percentage increase in capital than their counterparts in Singapore, Thailand and Malaysia.

“Of course we hope the students will become traders in the future. The point of this is to build local talent, each country’s local market,” Soleak said, adding the winners will be offered an internship with either CIMB or the CSX.

“Sure, some of it is about taking risks, but it must also be a calculated risk assessment. Admittedly, I did not expect such a positive result from the Cambodian teams, considering the stock market here is quite nascent and new.”

Svay Hay, president and CEO of Acleda Securities (ACS), said the number of talented stock market professionals in Cambodia will increase as the CSX increases its listings.

The CSX has attracted two listings since the market was officially launched in July 2011.

“The growth of the stock market in [the] medium-term would attract appropriately qualified personnel,” he said, adding that Cambodian ACS traders are predominantly trained overseas after being recruited into the firm.

“But universities need to put in place initiatives to promote this kind of financial markets major to students in order to evolve alongside the CSX’s growth.”

MOST VIEWED

  • Government denies claims former Thai PM Yingluck issued Cambodian passport

    Government officials on Thursday denied claims that a Cambodian passport was issued to former Thai Prime Minister Yingluck Shinawatra, who reportedly used it to register a company in Hong Kong. The Hong Kong-based English language South China Morning Post (SCMP) on Wednesday reported Hong Kong

  • 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