How Has Cambodia's Securities Market Performed In Q1 Of 2024?
From January-March (Q1 2024), the CSX Index had decreased by 3.34 per cent to 456.90 compared to Q4 2023, with a market capitalisation of USD $3 billion, according to the Securities and Exchange Regulator of Cambodia (SERC) Q1 2024 bulletin.
The Cambodia Securities Exchange (CSX) is the sole market exchange in Cambodia, a state-owned enterprise with 51 per cent shares owned by the Cambodian Ministry of Economy and Finance (MEF) and 49 per cent owned by the Korean Stock Exchange.
The CEO of CSX, H.E. Hong Sok Hour, said in May 2024 that the number of trading accounts had increased to 51,044 in Q1 of 2024, which represented a significant increase of 31.7 per cent year-over-year (YoY). However, the trading volume had declined nearly 38 per cent compared to the first quarter of 2023, and the trade value had dropped by approximately 58 per cent.
CSX was founded in 2009, and the first company listed on the market was the Phnom Penh Water Supply Authority (PWSA) in 2012. The CSX Index recorded an all-time high in 2021, rising up to 654.80 before slowly falling down year-over-year (YoY). In July 2024, the index stayed below 420 on average, nearing closer to 400, more than ever before.
However, progress has been made. In January 2024, CSX introduced a new trading mechanism for trade securities with a USD settlement, and in May 2024, CSX became a member of the Asia-Oceania Stock Exchange Federation (AOSEF) as part of the commitment to promote the market, regional collaboration, and leverage international resources to drive the Cambodian securities market's sustainability.
Cambodia's Stock & Bond Market In 2024
According to the SERC quarterly bulletin, there currently are two types of securities traded on the Cambodia Securities Exchange (CSX): stocks and bonds.
- For the Equity market, there are 11 listed companies, with 9 companies listed on the Main Board and 2 companies listed on the Growth Board.
- For the Bond market, there were 9 companies that issued corporate bonds, but currently, there are 6 listed corporate bonds, while the other 7 corporate bonds have reached maturity.
What Is The Total Market Cap of Cambodia's Securities Market - CSX in Q1 2024?
Cambodia's securities market's total market capitalisation (market cap) at the end of Q1 2024 was approximately KHR 12.37 trillion (approximately USD $3.06 billion), and the total trading volume was 3,396,026 shares, in which the proportion of the Main Board accounted for 95.91 per cent, and the Growth Board accounted for 4.09 per cent.
Overview of Cambodia's Equity Market For Q1 2024
For the first quarter of 2024, Cambodia’s equity market had only 3.40 million shares traded, representing a decrease of 54.60 per cent, while the trading value was 21 billion riel (approximately USD $5.21 million), a decrease of 45.80 per cent compared to Q4 2023.
Out of 51,044 trading accounts, a total of 6,082 investors participated in the equity market, a decrease of 4.02 per cent compared to Q4 2023. Among those, Cambodian investors represented the majority of participants (approximately 97.48 per cent) and 2.52 per cent were foreigners including Japanese, Chinese and others.
Individual traders represented 99.62 per cent and institutions accounted for only 0.38 per cent.
The Main Board - CSX
The total market capitalisation on the Main Board was approximately 12.25 trillion riel (approximately USD $3.03 billion), and the CSX index was 456.90, a decrease of 3.34 per cent compared to Q4 2023.
The total trading volume on the Main Board was 3.26 million shares, a decrease of 52.47 per cent, valued at 20.6 billion riel (approximately USD $5.12 million), a decrease of 43.58 per cent compared to Q4 2023.
For Q1 2024, Acleda Bank was the most traded company with 1.59 million shares traded (7.20 million shares sold and 7.48 million purchased), followed by the telecom company 'Cellcard' with 0.65 million shares traded, and Mengly J. Quach Education third with 0.52 million shares traded.
Growth Board - CSX
For the Growth Board on the CSX, the total market capitalisation was approximately KHR 115,317 billion (approximately USD $28.54 million), a decrease of 9.16 per cent compared to Q4 2023.
The Growth Board’s total trading volume during the Q1 2024 was approximately 0.14 million shares, an increase of 78.86 per cent, while the trading value was approximately 351.65 million riel (approximately USD $0.09 million), a decrease of 83.66 per cent compared to Q4 2023.
Cambodia Public Companies List on CSX by Market Cap & Shares
| Company | Market Cap (USD) | Shares Outstanding |
| CamGSM (CGSM) | $1,236.36 million | 1.959 billion |
| Acleda Bank (ABC) | $1,035 million | 433.1 million |
| Sihanoukville Autonomous Port (PAS) | $262.77 million | 85.7 million |
| Mengly J. Quach Education Plc (MJQE) | $166 million | 324 million |
| Phnom Penh Water Supply Authority (PWSA) | $156 million | 86.9 million |
| Phnom Penh Autonomous Port (PPAP) | $68 million | 20.6 million |
| Pestech Cambodia Plc (PEPC) | $44.33 million | 74.9 million |
| Royal Group Phnom Penh SEZ (PPSP) | $36.82 million | 71.8 million |
| Grand Twins International (GTI) | $26.92 million | 40 million |
| JS Land (JSL) | $25.19 million | 25.7 million |
| DBD Engineering (DBDE) | $3.34 million | 6.4 million |
Cambodia's Bond Market in 2024
The bulletin reported that as of the end of Q1 2024, there were no buy-sell orders or trading on any Corporate Bonds during this quarter. However, the Ministry of Economy and Finance has issued Government bonds 21 times through the price auction method, with a total volume of 492,100 units, offering yield rates of between 2.0 to 5.2 per cent, and with maturities of 1 year, 2 years, and 3 years.