Logo of Phnom Penh Post newspaper Phnom Penh Post - SECC holds seminar on debt securities

SECC holds seminar on debt securities

SECC holds seminar on debt securities

THE Securities and Exchange Commission of Cambodia (SECC) held its first seminar on corporate debt securities with the private sector Wednesday in a session involving 70 companies designed to build understanding of the new instruments, which will become available following the launch of the exchange.

“The stock market is a new venture for Cambodia, so it’s essential to make companies understand it,” said Ming Bankosal, SECC director general. “This is also a step towards [launching] Cambodia’s stock market.”

This is ... a step towards [launching] Cambodia’s stock market.

The seminar included the cooperation of Japan’s Nomura Research Institute, whose consultant Yutaro Oku gave a presentation on the two types of securities that would be available on the forthcoming bourse – bond or debt securities with fixed interest rates with no holders’ rights, and stocks or equities with fluctuating fortunes but a greater decision-making role for shareholders. The event was sponsored by the ASEAN secretariat and is one of a number of initiatives designed to increase understanding of the role and instruments of the forthcoming exchange.
The Ministry of Economy of Finance and new exchange commission have held a number of seminars on its future role, which adds to the
increasing body of published literature on bonds and securities now available in the Kingdom.

However, it remains unclear when the securities exchange will open following a series of delays.

The government had set a deadline of the end of 2009 for opening the exchange, a joint venture with the Korea Exchange (KRX), but Minister of Economy and Finance Keat Chhon said last week there was now no specific schedule for its launch.

He added that corporate governance would have to reach the required standard before the launch of the exchange.

Kim Eun-hye, South Korean President Lee Myung-bak’s spokesman, said last week during an official state visit to Phnom Penh that the new bourse would not be ready until the end of next year, according to South Korean news reports.

MOST VIEWED

  • ‘Kingdom lacks up to 400MW in available electricity’

    Prime Minister Hun Sen has called on the general public, hoteliers and businesspeople with generators to use them as back-up as the Electricity Authority of Cambodia cannot generate enough electricity to meet needs due to low water levels in power station reservoirs. On Saturday evening

  • Sor Chandeth defends his criticism of Hun Sen

    Former senator Sor Chandeth has defended his choice of words when criticising Hun Sen, saying he was merely speaking metaphorically to attack the Prime Minister’s political life, not his actual person, as the latter seeks damages. [img] Chandeth spoke to The Post on Thursday,

  • South Korea’s Moon arrives in Kingdom for state visit

    South Korean president Moon Jae-in and his wife arrived in Phnom Penh on Thursday at the start of a three-day state visit to Cambodia to strengthen ties and further the friendship between the two countries. After arriving at the Phnom Penh International Airport in the

  • Youths band together to clean ‘filthy’ Boeung Trabek canal

    Inspired by their affection for the environment, a desire to have a clean and beautiful city, and wanting to send a message to people to stop littering, a group of some two dozen volunteer youths have taken to picking up trash day and night from