Logo of Phnom Penh Post newspaper Phnom Penh Post - Par for the bourse

Par for the bourse

Par for the bourse

The Securities and Exchange Commission of Cambodia has issued licences to at least five firms to act as brokers, dealers and underwriters on the Kingdom’s upcoming bourse.

At least three Cambodian banks and two investment banks have confirmed they have been permitted to act on the exchange, which is scheduled launch in July 2011 “at all costs” after being twice delayed, according to the Ministry of Economy and Finance.

Tong Yang Investment Bank chief representative Han Kyung Tae said the firm was preparing to act as an underwriter on the bourse. Underwriters would be authorised to trade, as well as provide advice on issuing securities and facilitate public offerings on the exchange.

“We’re happy with the licence and now we’re working closely with a few potential companies which are preparing for initial public offering,” he said.

ACLEDA Bank has been licensed as a brokerage business, according to Vice President and head of capital market division Svay Hay.

“We have been preparing ourselves for this. Ten staff who are consultants, and senior staff and bank experts will be in charge of this service.”

The firm has been building up experience by conducting its own internal stock market since 2006 to sell shares to its own staff, he said.

OSK Indochina Securities Limited announced it had been granted a licence by the Cambodian stock exchange to act as an underwriter, broker and trader, in a statement filed on the Bursa Malaysia exchange on Friday.

Japanese-owned SBI Phnom Penh Securities Company – the 40 percent owner of Phnom Penh Commercial Bank Limited – announced it had been granted a licence to operate as an underwriter as well as a broker and trader in a release Friday. Canadia Bank has also been granted a permit to act as an underwriter, broker and trader, according to deputy general manager Charles Vann.

MOST VIEWED

  • Hun Sen’s China visit ‘a good opportunity’

    Prime Minister Hun Sen’s visit to Beijing on Sunday to discuss economic and trade issues presents a good opportunity for the Kingdom to strengthen Chinese ties and counter punitive measures by the West, an analyst says. The prime minister’s four-day official visit to

  • Former chief bodyguard receives royal pardon

    The former chief bodyguard of late Senate president Chea Sim has received a royal pardon nearly eight years after he was sentenced to 15 years behind bars on several charges, according to a royal decree dated November 12, last year, and obtained by The Post on Wednesday.

  • Close to the edge: Hair raising pictures from Kulen Mountain

    A new hair raising attraction on Kulen Mountain has finally opened to the public, with people flocking to the protruding cliff edge overlooking green mountainous forests to take photographs. The giant overhanging rock is situated in an area known as Mahendraparvata – an ancient city of

  • US warned not to interfere despite successful meeting

    A senior Ministry of National Defence official said the Tuesday meeting between the US Deputy Assistant Secretary of Defence for South and Southeast Asia Joseph H Felter and General Neang Phat had helped strengthen relations between the two countries’ militaries. However, a senior Cambodian People’