Logo of Phnom Penh Post newspaper Phnom Penh Post - Predictions for CSX start date

Predictions for CSX start date

Predictions for CSX start date

CSX

The Cambodia Securities Exchange may launch as soon as March or April, according to an official at the Korea Exchange, the Kingdom’s partner in launching its stock market.

Heng Chivoan/ Phnom Penh Post
A man viewed through the window of the trading room at the Cambodia Securities Exchange earlier this month.

Final preparations for the CSX’s  initial public offerings should be complete at that time, Pat Gil-soo, senior vice-president for global business development, said yesterday.

“I hope to visit [Phnom Penh] again in late March or early April for the opening ceremony,” he said.

But Pat Gil-soo said the decision was ultimately up to the Cambodian government, so he could not offer an exact launch date.

Korea Exchange and the Ministry of Economy and Finance formed a joint venture for the establishment of the CSX in 2006, with Cambodia holding 55 per cent and KRX holding 45 per cent.

The exchange was twice delayed prior to its opening last July, and trading has yet to begin.

Economy and Finance Minister Keat Chhon said last week the CSX was technically ready for trading, as all securities firms and cash settlement agents had been connected to the exchange’s computer systems.

Keat Chhon told an investor forum last November he expected trading to begin early this year.

Insiders last month assumed trading was imminent after Phnom Penh Water Supply Authority, one of three state-owned enterprises slated to begin trading on the exchange, was granted permission to list by CSX officials.

Tong Yang Securities managing director Han Kyung-tae, whose firm is an underwriter for Phnom Penh Water Supply, predicted a first-quarter start. “We are close to the end of preparations,” he said yesterday.

CSX chief executive Hong Sok Hour could not be reached for comment yesterday.

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group