Logo of Phnom Penh Post newspaper Phnom Penh Post - SAP eyes listing on bourse by year’s end

SAP eyes listing on bourse by year’s end

SAP eyes listing on bourse by year’s end

Sihanoukville Autonomous Port is making good progress in preparation for its initial public offering, aiming to list on Cambodia’s stock exchange before the end of the year, the port’s director general said yesterday.

“Our listing project is going very well now. I don’t think we have any problems at all because we just had recent talks to our underwriter, PricewaterhouseCoopers, and other concerned parties, who said everything is on the right track,” Lou Kimchhun, Director General at the Sihanoukville Autonomous Port (SAP) said yesterday.

The SAP is one of three state-owned enterprises that the government had planed to list. Phnom Penh Water Supply Authority was the first company to list on Cambodia’s bourse in April 2012, while Telecom Cambodia has failed in its attempts to launch of the bourse due to its poor financial position.

Kimchhun declined to put an exact date on the port’s listing, other to say: “We will do our best to make it happen within the year.”

Mok Rady, Head of Research and Securities Market Development Division

Securities and Exchange Commission of Cambodia confirmed that he has been working closely with SAP and expects them to submit a prospectus soon.

“This proves that [SAP] have more possibility to be listed,” he said.

SAP had received loan of $77 million in 2004 for two phases of the port’s development. In 2009, a further $36 loan was granted for the construction of a special economic zone and an $80 million loan for further terminal expansion. The upgrades to the port are all expected to be finished by 2017.

The latest data from the SAP shows that the number of containers shipped via the port increased slightly in the first quarter of the year to 557,600 containers compared to 513,940 in the same period last year, an increase of 8.5 per cent.

“We noticed that the export of milled rice dramatically increased by 37 per cent via my port – that is a significant increase this year,” Kimchhun said.

The Director General said he expects cargo passing though the port to increase by 12 per cent this year.

MOST VIEWED

  • Breaking: US House passes 'Cambodia Democracy Act'

    The US House of Representatives in Washington, DC, on Monday, passed the “HR 526 Cambodia Democracy Act”, also known as the Cambodia Democracy Act of 2019. If signed off by the president, the bill will allow two major sets of action to be taken against high-ranking Cambodian

  • Some jobs off limits to foreigners from August

    Beginning from the second week of August, foreigners will be banned from driving taxis and tuk-tuks, as well as being motorcycle delivery drivers, street food vendors, hairdressers and product distributors among other lower-income jobs. Some white-collar jobs such as the head of human resources will

  • Chinese-owned shops are on the rise in central Phnom Penh

    Informal businesses owned by Chinese nationals are on the rise in central Phnom Penh, especially in Tonle Bassac commune, surrounding Koh Pich. Such businesses have sprung up notably in Central Market, Orussey Market, Sovanna Shopping Mall, Rattana Plaza, as well as Kakab commune across from

  • Breaking: Rubbish found packed inside 83 containers at S'ville port

    Eighty-three containers packed with rubbish were broken open at Sihanoukville Autonomous Port by joint authorities on Tuesday. The origin of the containers has yet to be ascertained, Ministry of Environment spokesman Neth Pheaktra said. Pheaktra, who is also the ministry’s secretary of state, said