Logo of Phnom Penh Post newspaper Phnom Penh Post - PP SEZ sees 450% net gains in fourth quarter of 2018

PP SEZ sees 450% net gains in fourth quarter of 2018

Content image - Phnom Penh Post
Employees at the Cambodia Securities Exchange. Hong Menea

PP SEZ sees 450% net gains in fourth quarter of 2018

The net profit of Phnom Penh SEZ Plc, listed on the Cambodia Securities Exchange (CSX) in the fourth quarter of last year, rose nearly 450 per cent compared to the same period in 2017, while the profit of the Port Authority of Sihanoukville rose only nine per cent.

A Phnom Penh SEZ Plc report, submitted to the CSX late on Thursday, said the company received a profit of around $5,152,007 in the fourth quarter of last year – up 445.23 per cent compared to the fourth quarter of 2017.

The special economic zone operator earned a total of $10 million – a 201.56 per cent increase over the same period.

Referring to the report, the Phnom Penh SEZ Plc Board of Directors claimed that this is the first time that the company has seen a profit after three consecutive quarters of losses. The main factor contributing to growth is the success of land buying and renting transactions.

At the same time, the company announced it will make efforts to continue its success based on a number of strategies, including buying additional land and expanding various related services.

Meanwhile, a Sihanoukville Autonomous Port report said the company earned a profit of about $279,986 in the fourth quarter of last year – up 9.63 per cent on $18,860,329 in revenue, a 20.05 per cent increase.

The report said revenue growth was due to the volume of goods and containers crossing the port in the fourth quarter of last year, reaching 137,709 twenty-foot equivalent units (TEUs) from 18,819 TEUs in the fourth quarter of 2017.

On Thursday, shares of Phnom Penh SEZ Plc (PPSP) fell 1.02 per cent to 2,910 riel ($0.73), while shares of Sihanoukville Autonomous Port (PAS) decreased 0.63 per cent to 12,580 riel and Phnom Penh Autonomous Port (PPAP) fell 0.21 per cent to 9,480 riel.

Grand Twins International (GTI) shares increased 9.63 per cent to 4,780 riel and Phnom Penh Water Supply Authority (PWSA) shares rose 0.36 per cent to 5,600 riel.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Angkor Beer, 30 Years of Prestige and Still Counting

    Let’s celebrate 30 years of prestige with Angkor Beer. In this 2022, Angkor Beer is 30 years old and has been staying with Cambodian hearts in all circumstances. Head of core beer portfolio, EmYuthousaid, “We have been with Cambodians for three decades now. We, ANGKOR Beer, pride

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,