Logo of Phnom Penh Post newspaper Phnom Penh Post - CCC, securities regulator call for firms to list on bourse

CCC, securities regulator call for firms to list on bourse

Content image - Phnom Penh Post
CCC vice-president Lim Heng (centre) and SECC director-general Sou Socheat (to his left) at the seminar on Tuesday. Thou Vireak

CCC, securities regulator call for firms to list on bourse

The Cambodia Chamber of Commerce (CCC) and the Securities and Exchange Commission of Cambodia (SECC) on Tuesday called on local companies to list on the Cambodia Securities Exchange (CSX).

The call was made at a seminar on securities market potential for business sustainability held at the CCC.

CCC vice-president Lim Heng said listing on the Kingdom’s stock exchange would enable businesses to mobilise capital from the market to help ensure their sustainability and would translate into national economic growth.

He said the Kingdom’s bourse is vital for the private sector to raise funds in preparation for the anticipated string of post-Covid-19 business expansions.

“Members of the chamber will in all likelihood have a clearer picture of the securities market following the seminar. I hope that they will take part in issuing securities to give investors eager to make a profit access to their shares,” Heng said.

Speaking at the seminar, SECC director-general Sou Socheat said private-sector participation is crucial to boost the number of companies listed on the CSX.

“We welcome all companies in the region to join us. We hope that all of our businessmen will be listed on the CSX, which will help companies raise cash and expand their investments,” he said.

At the same event, Acleda Bank Plc president and group managing director In Channy expressed his optimism that listing on the CSX would “provide access to capital, increase growth, diversify financing options, attract more public attention, increase transparency and integrity.

“[It will also] increase the liquidity of stocks and raise their prices as well as strengthen business operations and [ensure that they] grow sustainably.”

He noted that on May 25 his institution became the first commercial bank to list on the bourse, raising around $17.6 million.

He previously said that as of September 30, Acleda Bank had outstanding loans to the tune of $3.9 billion for 413,613 customers.

There are currently 13 listed firms in the Kingdom – seven stock-listed and six corporate bond-listed. The 13 companies have raised a combined $253 million, CSX data show.

CSX’s market capitalisation rose to $2.57 billion as of June 30, 4.5 times higher than the same date last year.

MOST VIEWED

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Cambodia ready to exit LDC status

    Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week to explore potential

  • Tottenham Hotspur to wear ISF Cambodia logo on jerseys in match against Sheffield United

    Last year, the Indochina Starfish Foundation (ISF) – an NGO providing education to underprivileged children in Cambodia – made global headlines with its “socially distanced” football initiative. This year, a world-class football club – Tottenham Hotspur FC – will wear special edition jerseys to show their support for ISF

  • Nine US franchises eye Cambodia debut

    Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia. The US embassy in Phnom Penh, in partnership with the US Foreign Commercial Service and with support from the American