Logo of Phnom Penh Post newspaper Phnom Penh Post - Six listed firms post Q2 recovery

Six listed firms post Q2 recovery

Content image - Phnom Penh Post
A man watched the CSX’s market index in December, 2020. Hean Rangsey

Six listed firms post Q2 recovery

Six companies with securities listed on the Cambodia Securities Exchange (CSX) reported a recovery in business performance in the second quarter of this year over the early days of the health crisis, on the back of the rapid pace of the Covid-19 vaccination programme in the region and beyond.

In a filing to the CSX on August 19, corporate bond-listed Phnom Penh Commercial Bank Plc (PPCBank) reported total revenue of 77.264 billion riel ($19 million) in the second quarter, up 3.471 billion riel or 4.7 per cent year-on-year, and net profit of 15.129 billion riel, down 1.891 billion riel or 11.1 per cent year-on-year.

PPCBank chairman Yim Yong Taick said in the filing that the Cambodian government has taken the “right steps” to respond to the Covid-19 crisis.

He said the government has created the fiscal space to minimise the economic impact of the crisis, especially on the most vulnerable people.

“Despite this time of uncertainty, in [the April-June period], PPCBank got approval from authorities to perform the bank’s business activities and [launch] existing/new products and services,” he said, adding that as of June 30, the South Korean-owned bank’s outstanding loans, deposits and shareholders’ equity reached $727 million, $755 million and $163 million, respectively.

Another bond-listed microfinance institution, LOLC (Cambodia) Plc reported net profit of 50.524 billion riel in the April-June period, up 2.756 billion riel or 5.77 per cent year-on-year.

In the six-month period ended June 30, LOLC booked total interest income of 347.363 billion riel, up 41.406 billion riel or 13.533 per cent year-on-year, and net profit of 97.749 billion riel, up by 12.014 billion riel or 14.01 per cent year-on-year.

LOLC chairman Brindley de Zylva said his institution has adjusted itself promptly to business operations and financial activities during the pandemic, whilst fast forwarding the uptake of digital financial services.

“LOLC Cambodia has been upgrading its existing digital banking channels and partnering with third parties to integrate more distribution channels to provide superior customer experience,” he said.

And bond-listed automobile company RMA (Cambodia) Plc reported “revenue” of 315.0 billion riel in the second quarter of this year, up 42.0 per cent year-on-year, and “profit” of 27.6 billion riel, up 52.8 per cent year-on-year.

Meanwhile, publicly-listed Pestech (Cambodia) Plc (PEPC) logged “revenue” of 110.668 billion riel in the fourth quarter of 2021 of its non-calendar quarterly reporting system – corresponding to the April-June period – up 65.24 per cent year-on-year from 66.974 billion riel.

In the 12-month period ended June 30, PEPC recorded “revenue” of 273.628 billion riel, up 70.614 billion riel or 34.78 per cent year-on-year from 203.014 billion riel.

The operator of the Kingdom’s largest special economic zone (SEZ), Phnom Penh SEZ Plc (PPSP), reported “profitable” business operations in the second quarter, and land revenue and rental income of 1,859,976,000 riel, compared to 17,844,664,000 riel in the same period last year.

PPSP director Hiroshi Uematsu said that as of June 30 the SEZ accommodated 92 investors from 14 countries and territories – mainly from Japan, Malaysia, Taiwan, China, the US and South Korea – that span a wide range of industries such as automobile parts, garments, food and beverage, plastics, electronics and jewellery.

But in stark contrast, the publicly-listed garment manufacturer Grand Twins International (Cambodia) Plc (GTI) booked a sharp 27.94 per cent year-on-year decrease in “revenue” in the second quarter, while net and operating losses surged by 647.97 per cent and 386.07 per cent, respectively.

GTI said the decrease in “revenue” was “due to suspension of the company’s production in April and in June, which has [led to a decrease] in products to be exported”, and the rising net and operating losses were “due to decreasing in the company’s revenue and increase of 50 per cent of salary to be paid to employees during the company’s suspension of production”.

MOST VIEWED

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • Bosba: The first Khmer woman composer from UK’s Cambridge

    Bosba Panh is just 25 years old, but she’s already accomplished some impressive milestones for herself and the Kingdom. On July 24, she graduated with a Master’s degree from the University of Cambridge as the first Khmer woman composer and Khmer music graduate ever at

  • Pailin longan winery tries to break through to the big time

    Longan aren’t quite as glamorous as some fruits. They don’t have the star-power of mangos or generate the excitement of a pricey seasonal niche fruit like the pungent durian. Unlike bananas or oranges, which are known and loved everywhere, longan remains a decidedly

  • Debt restructuring over, time to tackle rising NPL ratio

    The Cambodian banking system has just completed a 26-month debt restructuring exercise where scores of loan accounts were revised, classified and provisioned as the rate of non-performing loans inched up, sparking a slight credit risk unease Implemented in April 2020, the Covid-19 debt restructuring measures came

  • ‘Golden’ Angkor Wat likely due to natural phenomenon: ANA

    Pictures and video clips of the Angkor Wat temple, its spires seemingly coated in gold, have been shared tens of thousands of times on social media, prompting a sense of wonder among those who have seen them. Hong Sam Ath, who took the pictures and

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’