Logo of Phnom Penh Post newspaper Phnom Penh Post - New underwriter launches

New underwriter launches

New underwriter launches

Chairman of Phnom Penh Securities, Kay Vat
Chairman of Phnom Penh Securities, Kay Vat, celebrates its launch yesterday. Photo by: Wesley Monts

PHNOM Penh Securities opened its doors yesterday, becoming the third of seven approved underwriters to open ahead of the planned launch of the Cambodian stock exchange later this year.

Chairman of the firm, Kay Vat, said a key focus of the business would be guiding foreign firms planning to invest in the Kingdom’s listed companies.

“Especially, my company is focusing on marketing to other countries,” he said at the launch of Phnom Penh Securities on Monivong Boulevard in Daun Penh district yesterday.

A press release claimed US$10 million in net capital, financed through local and international shareholders, and added that its operations team came from Taiwan, Hong Kong and China as well as the Kingdom.

The names of shareholders in Phnom Penh Securities were not revealed yesterday.

The firm added hopes it could “assist Cambodia to become the financial centre of South East Asia” in a statement.

Underwriters are approved to trade on the exchange, as well as providing advice for companies looking to issue securities on the exchange.

The stock exchange – which is planned to launch in July of this year – is a long-term source of investment for the Kingdom, Securities and Exchange Commission of Cambodia director general Ming Bangkosal said at the launch yesterday.

The government was working hard to ensure investors in the planned bourse were ensured transparency, accountability, and security, he said.

“The Phnom Penh Securities Company is prepared and in the market for Cambodia,” he said. Speaking on the event sidelines, Ming Bankosal said educating Cambodians about the role of an exchange could be challenging, but added that exchanges were difficult ideas to understand even in developed countries.

The other six companies approved as underwriters were Tong Yang Securities (Cambodia), OSK Indochina Securities, CANA Securities, Campubank Securities, Cambodia-Vietnam Securities, and SBI Phnom Penh Securities.

MOST VIEWED

  • Temi tourism project approved by the CDC

    The $500.4 million Tourism, Ecological, Marine and International (Temi) tourism project has been approved by the Council for the Development of Cambodia (CDC), according to a notice on its Facebook page on Monday. The project is part of Chinese-owned Union City Development Group Co Ltd’s (

  • Rainsy will return at ‘favourable time’

    Opposition figure Sam Rainsy on Saturday suggested he would not return to Cambodia as he had previously promised, saying that like liberators King Father Norodom Sihanouk and Charles de Gaulle, he would only do so at a “favourable time”. “I will go back to Cambodia

  • US Embassy urged to stop ‘disrespecting sovereignty’

    The Ministry of Foreign Affairs and International Cooperation called on the US Embassy in Phnom Penh on Saturday to respect the Vienna Convention on Diplomatic Relations after it called former opposition leader Kem Sokha “an innocent man” – a move deemed to be “disrespecting Cambodia’s

  • NagaWorld casino sees net profit of more than $390M last year

    Phnom Penh’s NagaWorld casino posted a 53 per cent net profit increase last year at $390.6 million, a sum which is almost equal to the combined net profit of all Cambodian commercial banks in 2017. NagaWorld’s parent company, NagaCorp Ltd, is listed on the Hong Kong