SIAC launched to boost securities sector
SIAC launched to boost securities sector
The Securities Investors Association of Cambodia (SIAC) has officially launched, aiming to draw investors and enhance human resource training in the Cambodian securities market, which has seen a year-on-year increase in the number of listed companies.
SIAC president Yoeung Virboth announced at the inauguration ceremony that the association, established on February 19, comprises members who are investors in the sector.
He said the association is committed to providing training in securities trading, initial public offerings (IPOs), bonds, derivatives, joint ventures, digital assets and other financial instruments, under the guidance of the Securities and Exchange Regulator of Cambodia (SERC).
"The SIAC plays a crucial role in market infrastructure. As we contemplate future processes, the significance of collaboration and innovation in overcoming challenges and seizing opportunities together enables us to bring realism to the securities sector," he said.
SERC director-general Sou Socheat described the launch of the association as an historic milestone for the country’s securities sector.
He said the association is tasked with legally representing its members in trading matters, including legal protection and market development, in collaboration with the regulator and relevant authorities.
“Over the past decade, the SERC has diligently supervised and developed the securities market, growing from its inception to now host 23 stock-listed and corporate bond-listed companies on the Cambodia Securities Exchange [CSX]. These businesses have collectively raised nearly $400 million. Among these are 11 stock-listed and 12 corporate bond-listed firms, including issuers of green and sustainable bonds,” Socheat highlighted.
“This achievement is a source of pride for Cambodia. Despite being a late starter with a relatively small size, our market's implementation and development align with regional and global trends,” he added.
According to Socheat, the regulator had issued a total of 48,477 investor identification numbers by February 2024.
As of March 3, it had granted licences, permits and accreditation to approximately 130 companies operating in the sector, including securities firms and distributors, financial and investment advisers, central counterparties, derivatives brokers, fund managers and trustees, among others.
“We are hopeful that the SICA will encourage more vibrant trading activities in our securities market and enhance sector awareness. The SERC believes that the association will significantly stimulate investment in Cambodia's securities sector,” he stated.
