The Post inks MoU with CSX
The Cambodia Securities Exchange Co Ltd (CSX) and The Phnom Penh Post will work together to provide investors and the public with reliable information on the developments in the Kingdom’s blossoming capital market.
A memorandum of understanding (MoU) to this end was signed on Thursday at the bourse’s headquarters between CSX CEO Hong Sok Hour and Ly Tayseng, the publisher and CEO of Post Media Co Ltd, which produces The Phnom Penh Post, Post Khmer and their digital channels.
Tayseng pointed out the capital market’s vital role in driving national economic growth.
He lauded the government – with a special nod to the Ministry of Economy and Finance – for its invaluable efforts in setting up the CSX and the Securities and Exchange Commission of Cambodia (SECC), the securities regulator.
He said the market has maintained smooth operations despite a number of headwinds, a feat which he called “a very encouraging sign”.
“For us in the media, we are committed to do whatever we can to contribute to the market’s development and the Cambodian economy as whole – that’s why we see cooperation between the CSX and The Phnom Penh Post as critical for the industry,” he said.
Sok Hour tipped his hat to The Post, lauding it as a comprehensive media outlet and the Kingdom’s leading capital market news provider since the CSX’s inception in 2011.
He said: “We are honoured to work with you now as we formalise cooperation on the MoU. CSX is a limited enterprise which is majority-owned by the Royal Government of Cambodia.
“We are only running the infrastructure for the trading platform but we are giving it our all to make it easier to raise funds in the private sector and uplift economic growth. At the same time, we provide a variety of tools for people in Cambodia to invest.
“I hope that both parties will benefit from the cooperation and can work together to further aid Cambodia in its pursuit of prosperity.”
In May, Post Media signed an MoU with the SECC that grants The Post exclusive rights to publish a series of educational articles written with input from the securities regulator.
The main objective of the weekly articles (published on Monday) is to provide readers a better understanding of how the securities market works in Cambodia.
The CSX welcomed its first domestically listed company, the state-owned utility Phnom Penh Water Supply Authority (PWSA), on April 18, 2012.
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 and the stock index increased more than 57 per cent last year over 2018, CSX data show.
In the first nine months of this year, two companies listed stocks and three listed bonds. The five firms have raised a combined $92 million, the data show.