CSX trading breaks all-time record with $29.6M volume
Phnom Penh port sees nearly $6M generated in this year’s first quarter
STOCK trading at the Cambodia Securities Exchange (CSX) on Tuesday broke an all-time record since its opening in 2012, as volume reached 9.45 million shares, or 120.12 billion riel ($29.6 million).
The previous record was achieved on December 26 when 2,150,535 shares were exchanged with a total value of more than $4.43 million. Sihanoukville Autonomous Port’s (PAS) stock accounted for 99 per cent of traded shares on that day.
A CSX press release said PAS’ stock contributed the most to Tuesday’s trading at 120.02 billion riel. Of the amount, only 0.02 billion riel was traded through the Auction Trading Method (ATM) and the remaining 120 billion riel through the Negotiated Trading Method (NTM).
CSX Market Operations Department acting director Kim Sophanita said on Tuesday that the Kingdom’s securities market has been progressing and that the CSX can accommodate more and bigger trades.
She said the stock exchange cannot disclose the identity of Tuesday’s traders, but concurred that the trade was between Japanese institutional investors.
“Trade at such an amount is considered a large transaction in our market. Such big trades are usually done between institutional investors.
“This did not happen by mere coincidence. We have prepared in advance by
having regulations and a system in place – doing market promotion activities inside and outside the country as well as building other necessary market infrastructure to attract institutional investors,” she said.
PAS’ trade through the NTM on Tuesday was the second time this year, but the fourth since its emergence early last year. PAS’ NTM trade came through a deal by SBI Royal Securities Plc as the stockbroker beat all previous records of NTM trades.
Chhay Ly Hour, Head of Securities at SBI Royal Securities, said new investors will bring along new business concepts and ideas so that it will benefit PAS’ operation in the long run.
“Now, there is more foreign investor interest in our market. They take risks and put large investment funds in the market.
“This proves the good performance of [the Kingdom’s securities market] and builds confidence for new investors locally and internationally to explore opportunities in Cambodia,” she said. CAMBODIA Securities Exchange- (CSX-) listed Phnom Penh Autonomous Port (PPAP), a state-owned enterprise, generated nearly $6 million in the first quarter of this year, a more than 25 per cent increase compared to the same period last year, a quarterly report filed with CSX said.
The first quarter report, released on CSX, shows that during the period this year, the port earned $5.87 million in total revenue from its business and services. This was a 25.84 per cent increase from the $4.65 million recorded in the same period last year.
The report shows that net profit after tax was $3.63 million, up 218.37 per cent compared to the first quarter of last year, which was slightly over $1.14 million.
The above achievement is attributed to consumer confidence as the port provides a fast and transparent service, according to the port’s board of director’s statement.
The statement said the port will continue to expand its existing services and businesses globally while creating new services in the port and logistics sectors.
PPAP’s total assets as of March 31 amounted to more than $189 million, a 2.11 per cent increase, while its total capital amounted to more than $142 million, up 1.99 per cent, according to the report.
PPAP’s share price closed at 9,200 riel ($2.27) each on Tuesday, with a trading volume of 3,704 shares.