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SECC signs MoU to boost development

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SECC director-general Sou Socheat (centre right) signed the Consultation and Development of Securities Market in Cambodia MoU with High-Tek chairman Wei Hsiao-Chin (centre left). SECC

SECC signs MoU to boost development

The Securities and Exchange Commission of Cambodia (SECC) has signed a memorandum of understanding (MoU) with High-Tek Financial (Cambodia) Co Ltd to boost the securities market.

SECC deputy director-general Sok Dara said on Tuesday that SECC director-general Sou Socheat signed the Consultation and Development of Securities Market in Cambodia MoU with High-Tek chairman Wei Hsiao-Chin.

The MoU serves to share knowledge and develop Cambodia’s securities market while also promoting it to raise public awareness about it.

“The MoU will help develop the securities market, human resources, and provide a new experience for it,” Dara said.

He said the SECC has also signed an MoU with the Securities and Exchange Commissions of Thailand, China, and Vietnam.

“This will help build the capacity of SECC officers to develop Cambodia’s securities market, such as new products, technology, and laws,” he said.

To ensure smooth collaboration, the SECC accepted the request of the company to designate two individuals who have a wide range of experience in the financial industry and securities sector as senior advisers.

They are Wei and Chang Chung Kai, a financial consultant with High-Tek.

The SECC said market capitalisation increased 157 per cent last year to $800.39 million. Currently, there are five companies issuing shares and three companies issuing bonds.

The number of investors increased to 22,338. The average trading volume is 1,750,502 shares per month, equal to $4,221,490 per month, it said.

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