Logo of Phnom Penh Post newspaper Phnom Penh Post - CCC, securities regulator call for firms to list on bourse

CCC, securities regulator call for firms to list on bourse

Content image - Phnom Penh Post
CCC vice-president Lim Heng (centre) and SECC director-general Sou Socheat (to his left) at the seminar on Tuesday. Thou Vireak

CCC, securities regulator call for firms to list on bourse

The Cambodia Chamber of Commerce (CCC) and the Securities and Exchange Commission of Cambodia (SECC) on Tuesday called on local companies to list on the Cambodia Securities Exchange (CSX).

The call was made at a seminar on securities market potential for business sustainability held at the CCC.

CCC vice-president Lim Heng said listing on the Kingdom’s stock exchange would enable businesses to mobilise capital from the market to help ensure their sustainability and would translate into national economic growth.

He said the Kingdom’s bourse is vital for the private sector to raise funds in preparation for the anticipated string of post-Covid-19 business expansions.

“Members of the chamber will in all likelihood have a clearer picture of the securities market following the seminar. I hope that they will take part in issuing securities to give investors eager to make a profit access to their shares,” Heng said.

Speaking at the seminar, SECC director-general Sou Socheat said private-sector participation is crucial to boost the number of companies listed on the CSX.

“We welcome all companies in the region to join us. We hope that all of our businessmen will be listed on the CSX, which will help companies raise cash and expand their investments,” he said.

At the same event, Acleda Bank Plc president and group managing director In Channy expressed his optimism that listing on the CSX would “provide access to capital, increase growth, diversify financing options, attract more public attention, increase transparency and integrity.

“[It will also] increase the liquidity of stocks and raise their prices as well as strengthen business operations and [ensure that they] grow sustainably.”

He noted that on May 25 his institution became the first commercial bank to list on the bourse, raising around $17.6 million.

He previously said that as of September 30, Acleda Bank had outstanding loans to the tune of $3.9 billion for 413,613 customers.

There are currently 13 listed firms in the Kingdom – seven stock-listed and six corporate bond-listed. The 13 companies have raised a combined $253 million, CSX data show.

CSX’s market capitalisation rose to $2.57 billion as of June 30, 4.5 times higher than the same date last year.

MOST VIEWED

  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Struggling Battambang artist dreams of staging full-scale gallery exhibition

    Leav Kimchhoth, a 55-year-old artist from Battambang province, is a familiar face to locals and tourists alike on the streets of the riverside in Phnom Penh. The one-armed painter and illustrator often hawks his work near the night market on weekends and public holidays. He

  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • New Law on Taxation comes into effect

    Cambodia has enacted the eagerly-awaited new Law on Taxation, which aims to improve the national tax regime’s compliance with present and future international standards and economic conditions; encourage accountability, effectiveness and transparency in the collection process; and promote investment in the Kingdom. King Norodom

  • PM warns of int’l election interference

    With the national election scheduled to take place in less than two months, Prime Minister Hun Sen has warned foreign nations and their diplomats not to interfere into Cambodia’s domestic affairs. He also hinted that their statements on court verdicts handed down to any