Nearly one year after the Cambodia Securities Exchange (CSX) began operating, construction on its new headquarters commenced yesterday, a move that officials say will promote confidence among investors.
CSX President Keat Chhon, also deputy prime minister and minister of Economy and Finance, said the construction is scheduled to finish in early 2014 and represents an investment of about $4 million.
The new CSX headquarters will be located in Daun Penh district.
According to the deputy prime minister, its construction is a vital message for local and foreign investors.
“The construction of its own building is to confirm the commitment of the Cambodian government to develop the financial sector progressively like other countries in the region and strengthen its purpose to achieve national economic development,” said Chhon.
Fifty-five per cent of the capital for the new headquarters comes from the government, while 45 per cent comes from the CSX itself.
The stock exchange has been operating since April 18 last year.
State-owned company Phnom Penh Water Supply Authority (PPWSA) was the first domestically listed company.
CSX’s operations appeared to have reached a standstill for many months as the PPWSA’s price fell below its initial public offering.
PPWSA’s price yesterday stood at 6,200 riel per share.
After launching at 6,300 riel per share, it almost doubled to 9,300 riel per share before gradually decreasing below its IPO.
To contact the reporter on this story: Rann Reuy at [email protected]