Logo of Phnom Penh Post newspaper Phnom Penh Post - CamGSM expected to secure bond approval

CamGSM expected to secure bond approval

Cellcard head office in Phnom Penh.
Cellcard head office in Phnom Penh. Heng Chivoan

CamGSM expected to secure bond approval

Listed local telecom provider CamGSM Plc (ticker: CGSM) has received preliminary approval from the Cambodia Securities Exchange (CSX) for a sustainable bond listing eligibility review. This follows its equity securities listing in June, making it the second firm to seek a corporate bond listing on the bourse this year.

The CSX confirmed on September 28 that CamGSM had secured this approval in principle. Before its securities can be officially traded on the bourse, the firm must gain offering approval from the Securities and Exchange Regulator of Cambodia (SERC) and fulfil additional CSX listing criteria.

Hong Sok Hour, CEO of CSX, told The Post on October 2 that CamGSM is planning to issue a corporate green bond targeting institutional investors.

“We encourage listed companies to issue corporate bonds, as the listing procedure is streamlined for them. Many institutional investors, including insurance firms, favour corporate bonds due to their stable, high interest rates,” he said, adding that he expects the bond issue could be completed this month or the next, given the company’s recent securities issuance.

Despite a downturn in economic activities, CamGSM showed strong financial results for Q2 ending June 30. The company posted a 9.9 per cent increase in net profit, amounting to 45.8 billion riel ($11.2 million), compared to 41.7 billion riel ($10.2 million) the previous year. As stated in their September 19 filing, revenue reached nearly 186 billion riel ($45.4 million) in Q2. After going public on June 27 with 9.3 million shares listed on CSX at 2,270 riel per share, they generated gross proceeds of $5.3 million.

The company’s total assets stood at 2.6 trillion riel ($637.42 million) as of June 30. Their total equity was approximately 877.8 billion riel ($241 million), marking a 14.2 per cent increase from 768.3 billion riel ($187.4 million) in Q2-2022.

Kith Meng, chairman of CamGSM, acknowledged a 3.2 per cent annual decline in the company’s total revenue, from 192.2 billion riel in Q2-2022. However, he highlighted the rise in net profit compared to the same period last year and maintained that the firm’s financial status was robust, with growing assets and equity.

“This year has been challenging,” he said. “[We] partnered with the 32nd SEA Games and 12th Para Games, while also preparing for the initial public offering (IPO). Throughout, we stayed committed to market relevance, ensuring our subscribers received exceptional daily service. We also expanded and improved our network, gaining recognition from OpenSignal for the ‘Best Download Speed Experience Award’ in August and from OOKLA for the ‘Fastest Mobile Network’ in Q1-Q2.”


  • Tensions high ahead of historic Kun Khmer match up

    The long-awaited November 5 matchup between Kun Khmer legend Prum Samnang and Myanmar-Canadian boxer Dave Leduc has become the most anticipated fight of the year. The Wurkz Sena Kun Khmer promotion, which will be held at the Town Arena at Chip Mong 271 Megamall, will see six

  • Manet: Cambodia safe for travel

    Prime Minister Hun Manet acknowledged that Cambodia and China have cooperated to tackle internet scamming, fraud and other cross border crimes, but insisted that the “Kingdom of Wonders” is completely peaceful and safe. He welcomed tourists to come and explore its rich heritage. During a

  • UNESCO formally list Battambang gastronomy

    Battambang, renowned for its cultural heritage, has achieved a significant milestone as the first Cambodian municipality to join the UNESCO Creative Cities Network (UCCN). The UCCN unites nearly 300 cities prioritising creativity and cultural industries in local development plans and international cooperation. On World Cities Day,

  • Cambodia pivots to solar, wind energy

    Cambodia is planning a move towards solar and wind energy to meet its rising power demands, according to Minister of Mines and Energy Keo Rottanak. On the sidelines of the Singapore International Energy Week event held recently, Rottanak emphasised the urgency of diversifying Cambodia’s

  • Angkor causeway symbol of Cambodia-Japan ties

    In a historic moment marking another milestone in the 70-year-long diplomatic relations between Cambodia and Japan, King Norodom Sihamoni celebrated the formal inauguration of a causeway located to the west of the world-renowned Angkor Wat. While presiding over the November 4 ceremony, the King emphasised the

  • Manet calls for Cambodia’s railways to get back on track

    Prime Minister Hun Manet has instructed the relevant authorities to expedite studies into upgrades to the Phnom Penh to Preah Sihanouk railway line. He suggested that the maximum speed on the line should be increased to 80km/h, in order to expedite the transportation of