Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Stocks Roundu: Vimpelcom hits latest year high

Stocks Roundu: Vimpelcom hits latest year high

Stocks Roundu: Vimpelcom hits latest year high

VIMPELCOM, the parent of Cambodian mobile operator Beeline, continued its strong run on the New York Stock Exchange last week as it reached another year high Friday.

The stock climbed 1.66 percent to close at US$20.87 in Friday trade, a 6.92 percent jump over a week earlier, after Vimplecom’s General Director Alexander Torbakhov said Thursday that a recent purchase of Golden Telecom, which operates Kyivstar, had boosted business. The Moscow-based operator announced an interim dividend the previous week.

Vimplecom, which last month entered the Laos mobile sector, remains locked in a legal dispute with Cambodia’s leading mobile operator Mobitel over accusations of price dumping and Beeline’s alleged illegal use of the latter’s prefixes as special investigators continue to look into the case.

China Asean Resources Ltd climbed 1.45 percent Friday to HK$0.14 (US$0.019) in Hong Kong to end unchanged for the week despite posting dismal results Tuesday on its Cambodia and China investments.

In the first ninth months, the company reported losses of $2.858 million, following a $3.645 million profit for the same period last year, after its 10,000-hectare concession in Kratie province lay idle. The company blamed the Cambodian government’s overzealous enforcement of illegal logging regulations for the shutdown.

Southern Gold shares surge
Australian miner Southern Gold, which holds mineral concessions in Kratie, Mondulkiri and Ratanakkiri provinces, saw its stock climb 23.71 percent last week on the Australia Stock Exchange to A$0.12 (US$0.112) after an announcement Wednesday of a significant gold find in Blair North, Western Australia.

The stock made significant gains over the past five days trading despite closing down 4 percent on Friday.

OZ Minerals, which said last month it was moving towards a gold resource in Cambodia, climbed 5.96 percent last week to A$1.25 (US$1.16) after falling 1.58 percent in Friday trading.

Over-the-counter stock Elray Resources, which operates mineral concessions in the north of the Kingdom, was down 5.26 percent for the week to $0.18, and Chevron, which continues to discuss a production contract with the government for offshore Block A, climbed 0.67 percent Friday to close up 0.53 percent at $77.94 over the past five days trading in New York.

JSM Indochina Ltd, which will hold a meeting on November 26 in a bid to solve an internal dispute related to its Cambodia and Vietnam investments, fell 2.26 percent in London Friday to £0.65 ($1.08) to end down 5.8 percent for the week.


  • Kak Channthy, Cambodian Space Project frontwoman, killed in crash at 38 [Updated]

    Updated 5:05pm, Tuesday, March 20, 2018 Kak Channthy, frontwoman of popular The Cambodian Space Project, was killed Tuesday morning in a traffic accident in Phnom Penh. She was 38. Channthy, the internationally recognised singer-songwriter also known as “Srey Thy”, was reportedly travelling in a tuk-tuk on the city's

  • Australian police investigating death threat against Kem Ley's widow

    Updated: 10:17am, Friday March 23, 2018 Australian authorities on Thursday confirmed they have launched an investigation into a crudely written death threat sent tothe family of slain political analyst Kem Ley and Victoria state MP Hong Lim. The typed letter, reported to Victoria police last week, is

  • Apparel groups including H&M and Gap urge Cambodia garment industry reform, seek meeting with Hun Sen

    A group representing some of the largest apparel brands in the US and Europe – including Gap, H&M and ASOS – expressed “growing concern” on Tuesday over several controversial labour laws and ongoing court cases against unionists described as restrictive and unjust. In an open letter

  • Cambodia, states clash at UN session

    Cambodia traded shots with the international community in a heated exchange at the UN Human Rights Council in Geneva on Thursday evening, with states condemning the Kingdom’s ongoing crackdown on the political opposition and civil society, and an increasingly agitated Cambodia accusing member states