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New securities dealer launches in Kingdom

New securities dealer launches in Kingdom

Golden Fortune Securities, a Cambodian-Chinese joint venture and the Kingdom’s second securities dealer, officially opened its doors yesterday.

The company was the most recent of Cambodia’s 13 licensed dealers, brokers and underwriters to launch operations.

A date for company listings, or actual Cambodia Securities Exchange operations, was stilled undeclared for the exchange, which officially opened in July.

“Our business is based on the Cambodian Securities Exchange. If the exchange starts actual business, then we can start actual business,” Golden Fortune vice general Manager Luo Qiang said yesterday on the sidelines of the company’s opening ceremony.

The dealer had confidence the CSX would open at some point during the first two months of next year, he added.

Listing was originally scheduled for November, but pushed back to as late as February due to technical issues.

The Securities and Exchange Commission of Cambodia yesterday could not give an official start date for trading.

“I cannot tell you the exact date or month, but now we are working very hard with all the stakeholders,” Ming Bankosal, the SECC director general told the Post. During a speech at the opening ceremony, he said 13 underwriters, dealers and brokers was enough to serve the CSX for the time being.