Logo of Phnom Penh Post newspaper Phnom Penh Post - Toll, Transol stocks spike in Sydney trade

Toll, Transol stocks spike in Sydney trade

Toll, Transol stocks spike in Sydney trade

TOLL Holdings saw its share price increase on the Australia Stock Exchange on Friday, as it announced that the Phnom Penh-to-Kampot stretch of Cambodia’s revamped railway system had reopened for business.

Toll is the 55 percent owner of Cambodia’s railroad concessionaire Toll Royal Railways, with the remainder owned by Cambodian conglomerate The Royal Group.

The Australian logistics firm closed out the week at A$6.62 (US$6.65), up 1.22 percent from its Thursday close of A$6.54.

Another firm listed in Sydney, Transol Corporation, saw its share price spike Wednesday after it announced its subsidiary Liberty Mining had purchased two new gold projects in the Kingdom, along with plans to float Liberty on the ASX next year.

Transol briefly touched A$0.006 (US$0.058) a share late on Wednesday, up from A$0.004 recorded during most of the week.

The peak was recorded after the firm released details of its acquisitions in Mondulkkiri and Ratanikkiri provinces in northern Cambodia, which are conditional on the listing of Liberty next year in Sydney.

It closed out the week at A$0.004 – which represented a 63.64 percent drop from its share price one year ago.

Meanwhile, Raffles Education Corporation, which opened Raffles International College in Phnom Penh in January, saw an announcement increasing directors’ salaries on Friday barely dent its share price.

Raffles closed Friday at S$0.285 (US$0.22) on the Singapore exchange – steady with its opening price on the same day, though slightly down on its Monday opening of S$0.29.

The company filed an announcement to the Singapore exchange late on Thursday that shareholders had approved a S$30,000 raise for the company’s directors for the financial year which had just ended, to S$280,000.

On the energy front, Chevron Corporation’s share price hit a 52-week high of US$85 on the New York Stock Exchange on Thursday.

The US$170 billion global corporation, which is the operator and 30 percent shareholder of Cambodia’s Block A oil concession in the Gulf of Thailand, largely tipped to become the first area for oil production in Cambodia, announced on Thursday a US$7.5 billion plan to develop oil and natural gas fields in the deep-water Gulf of Mexico.

The plan marks the largest investment since the United States ended its six-month moratorium on deepwater drilling on October 13.

Chevron closed the week slightly lower at $84.55 per share – a figure that represented a 10.26 percent increase from its share price a year ago.

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