SERC enlists FASMEC in securities training
SERC enlists FASMEC in securities training
The Securities and Exchange Regulator of Cambodia (SERC) is set to work with the Federation of Associations for Small and Medium Enterprises of Cambodia (FASMEC) to raise awareness of the securities market and its mechanics.
The regulator hopes the partnership will encourage more small- and medium-sized enterprises (SME) to turn to the Cambodia Securities Exchange (CSX) to raise capital by trading stocks and bonds.
Training offered under the alliance aims to provide participants with extensive knowledge into the inner workings of the Cambodian securities market system and investor protections, and prepare them to be able to trade securities with an understanding of the different methods.
CSX CEO Hong Sok Hour told The Post on March 23 that it’s the SERC’s job to educate the public on the potential of the securities business, to capitalise on “this influential market”.
Acknowledging that a fair share of Cambodians are still rather unfamiliar with the concepts of stocks or the securities market, Sok Hour said the SERC took the initiative to educate business owners, especially of SMEs, and use other channels to spread the word about the nascent sector.
He billed securities as a modern mode of investment for businesses where – should their market picks perform well – additional capital can be raised to make expansion processes quicker.
Sok Hour argued that if the Kingdom’s “tens of thousands” of SMEs were to gain a solid grasp of the market and choose to invest, not only would their businesses grow, but the additional capital flows would generate a boom in the economy and “everything in our country would be more prosperous than before”.
FASMEC president Te Taingpor told The Post on March 23 that the first step after the training would be for SMEs to open a trading account with one of the securities firms that are members of the CSX.
The initial registration costs 20,000 riel ($4.94) for individuals and 50,000 riel for companies, he said, adding that the SME trade body was looking to get 100 members to open trading accounts as a first step.
Barely able to contain his enthusiasm, Taingpor proclaimed that soon thousands of FASMEC members from all domains would be comfortably trading securities on the CSX due to the account. “We have many members across the country who are doing business in services, industry, agriculture and trade,” he said.
