May 4th, 2012, The Phnom Penh Post, Banking & Finance, News Source, Stock Exchange
Sellers have dominated the Cambodia Securities Exchange for the last seven days of trading, and the downward trend for the single stock, Phnom Penh Water Supply Authority, was expected to continue into next week, experts said.
PPWSA closed down 4.6 per cent yesterday at 7,250 riel (US$1.79), according to the CSX.
There were 26,171 shares worth $46,942 traded, a volume increase of 53 per cent over Wednesday’s trades.
An SBI Royal Securities market report yesterday called the market increasingly “gloomy”, and said the price could fall into next week…
Don Weinland
http://www.phnompenhpost.com/index.php/2012050455963/Business/ppwsa-slide-continues-as-price-sees-correction.html
April 30th, 2012, Bangkok Post, Economics, Infrastructure, Stock Exchange
… Industries such as tourism and garment production are booming. Mining is taking off and the Cambodian Stock Exchange (CSX) is finally up and running after a 10-month delay with Phnom Penh Water Supply (PPWS) its first listing.
“PPWS is considered one of the best managed state enterprises in Cambodia. Phnom Penh is one of the only cities in Asia where it is safe to drink water out of the tap,” said Doug Clayton, CEO of the frontier investment fund .
That reputation was hard earned in a country renowned for corruption (164th on Transparency International’s perceptions of corruption index last year).
What changed PPWS was the appointment of Ek Sonn Chan as director back in 1993. Given the mission to provide the city with clean, affordable drinking water, he began by building a performance-based corporate culture. Practices that allowed jobs for life, along with jobs for friends and relatives, were ditched. Staffing levels were cut by 80%. Those who remained were paid high salaries but told they would be dismissed if they failed to measure up.
Two factors contributed to the company’s success. First Sonn Chan obtained the implicit backing of Prime Minister Hun Sen who supported his plan to run PPWS as an autonomous body. Second, he tugged on the emotional heartstrings of donors who had begun entering the country as part of a UN bid to rebuild it. …
Luke Hunt
http://www.bangkokpost.com/business/economics/291098/cambodia-new-corporate-darling
April 27th, 2012, The Phnom Penh Post, Banking & Finance, News Source, Stock Exchange
The Cambodia Securities Exchange has seen a sharp decrease in action this week, with trading volume yesterday falling to 3,453 shares, down nearly 100 per cent from Monday.
Despite the drop, which was accompanied by a strong shift from institutional to retail investors, experts have stressed the time and patience required for a fledgling market – one with a single stock traded – to find its feet.
The relatively high opening price for public utility Phnom Penh Water Supply Authority contributed to the declining volume of trades, insiders said.
PPWSA closed at 8,800 riel (US$2.18) yesterday, down 4.86 per cent, near to the exchange’s mandated 5-per-cent trading range for the stock.
More than 590,900 shares went unsold yesterday, with close to 1 million unexecuted the day before.
“At the original price, there were some big profits for some early investors,” Dao Duy Anh, deputy chief executive at Cambodia-Vietnam Securities, said yesterday.
“This is one of the first [investment opportunities] available to the Cambodian people, and there was a lot of excitement during the first days.”…
Don Weinland
http://www.phnompenhpost.com/index.php/2012042755811/Business/trading-volume-drops-on-new-csx.html
April 26th, 2012, The Cambodia Daily, Banking & Finance, Economics, Stock Exchange
While the Phnom Penh Water Supply Authority’s (PPWSA) share price continued to fall yesterday, a second state firm came a step closer to joining it on Cambodia’s nascent stock exchange by announcing plans to register by the end of July.
At a ceremony marking the first day of trading in the PPWSA on the Cambodian Securities Exchange last week, Finance Minister Keat Chhon urged two other public firms – Telecom Cambodia and the Sihanoukville Autonomous Port – to get on with their own long-delayed plans to list…
Hul Reaksmey and Zsombor Peter
http://www.camnet.com.kh/cambodia.daily/
April 25th, 2012, The Phnom Penh Post, Banking & Finance, News Source, Stock Exchange
Despite interest in participating in the stock market, confusion as to how and where to invest in the Cambodia Securities Exchange still persists among many Cambodians without close ties to or backgrounds in trading.
After the much-anticipated and long-delayed launch of CSX trading last week, Soun Sokret, an account and media supervisor at a local company, said he wanted to buy shares in Phnom Penh Water Supply Authority.
The problem was that he didn’t know where to get information about the CSX and said he considered going to the exchange floor on the 25-storey of Canadia Tower to inquire.
“My friends and I want to invest but we don’t know how. The CSX has lots of support from the government right now, so they will not let it fail. We think this is a chance to get a big return,” Soun Sokret said…
Don Weinland
http://www.phnompenhpost.com/index.php/2012042555749/Business/stocks-still-an-unknown-for-many-cambodians.html
