Logo of Phnom Penh Post newspaper Phnom Penh Post - Water price set as authority revenues climb

Water price set as authority revenues climb

Water price set as authority revenues climb

110113_7b
The water authority believes prices will be stable, despite its listing, benefiting those who wash large objects – like Sambo.

STATE-OWNED Phnom Penh Water Supply Authority is unlikely to raise the price of water when it lists on the Cambodia Stock Exchange, according to officials.

The company has been ordered to list on the bourse along with two other state-owned companies when the CSX launches. The exchange  start is set for July after delays.

“If the government stays the majority shareholder, it will be the government’s decision to raise or lower the price,” said General Director Ek Sonn Chan.

He said affordable, clean water was always one issue that the government considered important.

“I believe the government won’t [let someone else change the price] as current prices serve the people’s welfare.”

Securities and Exchange Commission of Cambodia Director General Ming Bankosal also said water prices would stay the same. “It is a necessity, because water benefits the whole society,” he said.

Instead, he said shareholders buying into the Water Authority’s initial public offering could expect healthy returns based on the company’s overall growth and its strong performance.

Throughout its history, the authority has sold water at a starting price of 550 riel (US$0.13) per cubic meter. Currently it can produce up to 280,110 cubic metres of water per day, with three treatment stations in Phnom Penh.

Meanwhile, the authority’s revenue increased 10 percent in 2010, climbing to more than 100 billion riel, or $24.7 million, which was 3 percent more than its target, according to Ek Sonn Chan.

“Increased revenue is in line with our plan to increase our customers – we had 14,000 new customers in 2010,” he said. “I do believe that if one invests in the PPWSA, they receive two benefits – first, they will gain more profits than just depositing in the bank at 5 percent interest rate, and second, their money will be secure.”

MOST VIEWED

  • Cambodia on the verge of national tragedy, WHO warns

    The World Health Organisation (WHO) in Cambodia warned that the country had reached another critical point amid a sudden, huge surge in community transmission cases and deaths. “We stand on the brink of a national tragedy because of Covid-19. Despite our best efforts, we are

  • Phnom Penh curfew starts today

    A two-week curfew from 8pm to 5am starts today in Phnom Penh, a day after a sub-decree detailing administrative measures to contain Covid-19 was issued by Prime Minister Hun Sen. “Travelling in Phnom Penh is temporally banned between 8pm and 5am,” said Phnom Penh governor

  • Vaccination open to foreigners in Cambodia

    The Ministry of Health on April 8 issued an announcement on Covid-19 vaccination for foreigners residing and working in Cambodia, directing the Ministry of Labour and Vocational Training and local authorities to register them. Health minister Mam Bun Heng, who is also head of the inter-ministerial

  • Cambodia gears up for muted New Year festival

    The recent curfew and restrictions imposed in the capital and other Covid-19 hotspots were intended to break the chain of transmission, Ministry of Health spokeswoman Or Vandine said as municipal and provincial authorities issued new directives banning certain activities during the upcoming Khmer New Year

  • Covid-19 vaccination now obligatory

    Prime Minister Hun Sen on April 11 issued a sub-decree making Covid-19 vaccination compulsory for individuals unless they have a medical certificate proving they have pre-existing health conditions that prevent them from doing so. «This applies to all members of the armed forces and civil servants

  • Culture ministry: Take Tuol Sleng photos down, or else

    The Ministry of Culture and Fine Arts has told Irish photographer Matt Loughrey to take down the photos of Khmer Rouge victims at Tuol Sleng Genocidal Museum which he allegedly colourised and altered to show them smiling. The ministry said Loughrey's work is unacceptable, affecting