Logo of Phnom Penh Post newspaper Phnom Penh Post - SECC inks MoU for IT system overhaul

SECC inks MoU for IT system overhaul

SECC inks MoU for IT system overhaul

The Securities and Exchange Commission of Cambodia (SECC) signed a memorandum of understanding (MoU) on “Consultation on Information Technology System” with three companies, said director-general Sou Socheat in a press release on Friday.

The companies were Mobile C&C (Cambodia) Co Ltd, Pathmazing Inc and We Alliance Co Ltd, said the release.

Socheat said the companies will provide the SECC with advice and supply it with “modern technology for financial services, fintech and [a] technology-based social infrastructure system.

“The three companies will jointly provide . . . technical assistance to the SECC for determining IT system requirements in the legal framework.

“[They will inspect the] IT system used by licensed/authorised companies and [develop a] digital reporting system for listed companies and licensed/authorised companies, as well as transforming the SECC into a digitalised institution,” it said.

Late in February, the SECC issued fund management licences to Aegies Fund Management Plc and PLMP Venture Capital Co Ltd and approved three more trustee companies, Grand Cathay Investment Trust (Cambodia) Plc, Zillion Trust Plc and Vivid Asset Management Co Ltd.

SECC deputy director-general Sok Dara told The Post late in February that there has been a huge increase in market participants, such as the five central counterparties in the derivatives market, the 27 derivative brokers and the seven fund management companies licensed this year.

SECC data shows that market capitalisation increased 157 per cent last year to $800.39 million.

By the end of last year, it had attracted 22,446 investors, raising nearly $151 million for all five companies listed on its main board and the three companies that have issued bonds.

The average trading volume was 1,750,502 shares per month, equal to $4,221,490 per month, the data shows.

MOST VIEWED

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180

  • CCC team off on US business trip

    The Kingdom’s leading economists and private sector representatives have called on the US to renew its tax preferential status for Cambodian exports, as a Cambodia Chamber of Commerce (CCC) delegation departed for a weeklong business visit to the US, where they will meet with

  • PM takes time to meet, greet Cambodians living in the US

    After landing in the US ahead of the ASEAN-US Special Summit, Prime Minister Hun Sen was received by over 1,000 Cambodian-Americans including political analysts who welcomed him with greetings, fist bumps and selfies. Hun Sen also met with analyst Mak Hoeun, who had allegedly spoken ill

  • Khmer cinema classics back on big screen for free at WB Arena’s outdoor movies series

    On a recent Saturday evening at WB Arena, Bunsong was enjoying a tasty BBQ meal with his family after work on the long tables that had been arranged out in front of the restaurant as they watched a Khmer action movie on a big outdoor

  • PM heads to Washington for ASEAN-US special summit

    Regional and international issues and how to bring the ASEAN-US partnership to another level will be discussed at length as Prime Minister Hun Sen and his ministers arrive in Washington, DC, for a special summit on May 12-13. During the trip, Hun Sen and ASEAN

  • National Assembly refutes EU resolution

    The National Assembly (NA) has hit back at a European Parliament resolution condemning the political and human rights situation in Cambodia, calling it another display of the Parliament’s “double standards”. Key points of the resolution include a warning that the Parliament could exclude the