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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.

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