The Cambodian Stock Exchange (CSX) - why is it not working ?

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newkidontheblock
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

Post by newkidontheblock »

Pseudonomdeplume wrote:
newkidontheblock wrote: Fri Aug 20, 2021 9:12 am
...the average Cambodian does not invest in CSX, and for very good reason.
Not disagreeing, just wondering what the reason that is very good, is.
How much information is publicly available on all the companies on CSX? How easy is it to move money out of a company on CSX?

Poster child of this problem is GoldFX. The company implied all sorts of associations with powerful organizations. All a lie. Investors who attempted to get their money out required the director’s explicit written approval.

So how does a stock market work where all the companies lie about their information (or there is no information) and money is impossible to get out after investment?

All your beliefs are based on western markets where rules are clear and everyone gets access to information.

The average Khmer knows there is a difference between western markets and CSX and aren’t rushing to invest.

CSX will stay in the realm of the rich and powerful, and a form of gambling for everyone else.

This is just my opinion, of course.
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

Post by J. Visiting »

Your Texas thread is great.

The stock exchange is not allowed to promote a given stock. But they do have
info you need.

And I think that you need to say something nice about Cambodia. Just say that
you are looking at an interesting Cambodian stock. It is a landholding. You don't
get your name on the land, but it is interesting because it is 400 hectares of
commercial property. I am guessing that 4 shares equals 1 meter of land. That is
two dollars of shares per square meter of land.

If you still have a bank account in Cambodia then you can add the share account to that.
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

Post by Pseudonomdeplume »

newkidontheblock wrote: Tue Aug 24, 2021 6:16 am
Pseudonomdeplume wrote:
newkidontheblock wrote: Fri Aug 20, 2021 9:12 am
...the average Cambodian does not invest in CSX, and for very good reason.
Not disagreeing, just wondering what the reason that is very good, is.
How much information is publicly available on all the companies on CSX? How easy is it to move money out of a company on CSX?

Poster child of this problem is GoldFX. The company implied all sorts of associations with powerful organizations. All a lie. Investors who attempted to get their money out required the director’s explicit written approval.

So how does a stock market work where all the companies lie about their information (or there is no information) and money is impossible to get out after investment?

All your beliefs are based on western markets where rules are clear and everyone gets access to information.

The average Khmer knows there is a difference between western markets and CSX and aren’t rushing to invest.

CSX will stay in the realm of the rich and powerful, and a form of gambling for everyone else.

This is just my opinion, of course.
I forget to include IMO sometimes. On a topic like this, it covers you. However, I am sorry to have to inform you, that based on your comments above, I am going to have to say, "sounds good to me." There would be education required on the most part.

The basics are easy to grasp though. The information here could be fabricated, same back west.

What's the latest on GoldFX? I heard they were being raked across the coals, but that could be lip-service, buying time like there's no tomorrow. Powerful people up the hierarchy will make their job difficult to perform correctly, so there might be a bit of "We will play this out forever".

I have not met one local who has even heard of cryptos. They have know, but still don't get it, and won't remember it the next time it comes up.

But, as with advertising, I keep pumping it in there *ahem*, and however annoying, I am doing them a favour of education (Stop your bla bla, give me $1 for eat). By the time I get to their "need to know because it is not only the future, it is the present," I am talking to myself. Again.
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

Post by newkidontheblock »

Companies can lie on western stock exchanges. However If they are caught in a lie, they get punished. The market reacts negatively, the regulating authorities intervene, the company or even individuals get punished. What’s the penalty for the powerful in Cambodia to lie on the CSX? Nothing.

GoldFX is the sacrificial lamb to make problems go away so no one looks too closely at anything else.

Thanks for the response on the Texas thread.

Cambodia is a wonderful country. The CSX stock exchange is not a wonderful western stock exchange. It is a form of gambling for the average person. A money making machine for the powerful. That’s my opinion.

Personally, I don’t understand and trust cryptocurrencies enough to bet my future (and that of missus, and all the future kids) on it.
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

Post by CEOCambodiaNews »

All in the family...
HE Chimes in on CPP Family-Linked GoldFX Controversy
3 min read
Tran Techseng

Prime Minister HE on Tuesday waded into the ongoing dispute between investors and investment firm GoldFX — which is linked to senior CPP officials’ family members — asking investors to continue their negotiations or file a lawsuit.

Investors have demanded that the firm return their investments after GoldFX claimed it was cheated out of $20 million by ex-board members. Investors have rejected offers to get only 30 percent of their investment back and have protested outside HE’s home in Kandal province’s Takhmao city.

The prime minister has so far stayed silent on GoldFX, whose chairperson, Ke Suonsophy, is the daughter of Deputy Prime Minister Ke Kim Yan, and its managing director, Sar Channet, a niece of Interior Minister Sar Kheng. Duong Dara, an aide to the prime minister, became involved in trying to resolve the issue in June.
https://vodenglish.news/hun-sen-chimes- ... ntroversy/
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

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More on GoldFX; 13 December deadline announced for further customer complaints:

Image
Cambodia News (Phnom Penh): On 7 December 2021, the Securities and Exchange Commission of Cambodia (SECC) announced that there are GoldFX Investment clients who continue to file complaints frequently to the SECC, and that in light of this, they have announced they will stop accepting complaints concerning GoldFX Investment by December 13, 2021.

According to a press release issued by the SECC on 7 December 2021, the SECC started accepting GoldFX Investment clients' complaints since the day of its press release on 30 March 2021 until now. However, it notes that there are still GoldFX Investment customers who continue to file complaints to the SECC frequently.
As a result, in order to expedite the resolution of complaints of those who have already filed complaints according to legal procedures recommended by the judicial police officers of the SECC and under the guidance of the Prosecutor of the Phnom Penh Municipal Court, the SECC will continue to receive GoldFXInvestment customer complaints only until 13 December 2021. Customers who file complaints after this deadline will need to file a complaint directly to the competent court in accordance with legal procedures in force.
ImageImageImage
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

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May 17, 2022
Cambodia’s bourse marks 10th anniversary

Cambodia on Monday marked the 10th anniversary of the Cambodia Securities Exchange (CSX), which is expected to see better performance in the next decade, officials said.

Speaking at an event held in a hybrid format, Cambodian Deputy Prime Minister Aun Pornmoniroth, also the minister of economy and finance, said the securities sector would play a greater role in boosting the kingdom’s economic development in the post-COVID-19 pandemic era.

“The event today marks another historic milestone for the CSX, which has promoted the development of national economy over the past decade, and I foresee that this market will contribute bigger to the growth in the future,” he said.

CSX CEO Hong Sok Hour said the CSX has so far received a total of 16 listed companies, including nine equity firms and seven corporate bond firms, with a total capital of more than 280 million U.S. dollars.
https://www.khmertimeskh.com/501076910/ ... niversary/
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

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CSX’s Daily Trading Value Skyrockets in H1
AKP Phnom Penh, August 02, 2022 --
The trading value in the Cambodia Securities Exchange (CSX) has skyrocketed in the first semester of this year, reflecting confidence of investors in the local bourse.

The average daily trading value increased to US$$870,000, increasing from US$201,143 recorded in the January-June last year, according to the CSX.

CSX CEO H.E. Hong Sok Hour said that new investors have pushed the increase. “It is a significant growth because investors that have trading accounts have started more transactions,” he said.

CSX has currently 16 listed securities – nine equity firms and seven cooperate bonds – and the listed companies had cumulatively raised more than US$280 million from the stock market.

Some 31,000 investors have opened trading accounts at the CSX as of June of this year.

The CSX is a joint venture between the Cambodian government holding 55 percent of the stakes and the Korean Exchange owning the remaining 45 percent.
- AKP
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

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Acleda Bank ‘green bond’ CSX offering gets NBC nod
05 December 2022 | 21:57 ICT
The Kingdom’s stock exchange boss on December 5 provided a statement welcoming ACLEDA Bank Plc’s plans to issue a “green bond” to finance its green, eco-friendly business pursuits.

The National Bank of Cambodia (NBC) on November 21 okayed ACLEDA Bank’s green bond, which would be its second offering on the Cambodia Securities Exchange (CSX) after going public in May 2020, raising 70.387 billion riel – reported as $17.5 million then – from its initial public offering (IPO).

After ACLEDA works with green bond’s underwriter on the specifics, the debt security will then have to receive the nod from the CSX and Non-Bank Financial Services Authority (NBFSA) before moving on to the final set of formal issuance procedures.
Sok Hour affirmed that, to date, he had not received an issuance application from ACLEDA for the green bond.

ACLEDA senior executive vice-president Mar Amara told The Post on December 5 that her bank is working with an underwriter, which she declined to name, to determine the issuance size and par value of the bond, the latter of which she suggested may be 100,000 riel – the same as every corporate bond currently on the CSX.
https://www.phnompenhpost.com/business/ ... ts-nbc-nod
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Re: The Cambodian Stock Exchange (CSX) - why is it not working ?

Post by CEOCambodiaNews »

Tycoon Kith Meng’s Royal Railway Plc. Lists Second Corporate Bonds on the Cambodia Securities Exchange,
Raises $24M to Support Railway Systems

Created: 22 December 2022

Phnom Penh (FN), Dec. 22 – The Royal Railway Plc launched its second USD 24 million corporate bonds on the Cambodia Securities Exchange (CSX) to support the development of railway systems.

The announcement ceremony today (Dec 22) is presided over by Sou Socheat, government delegate in charge as director general of the Securities and Exchange Regulator of Cambodia (SERC).

"This USD 24 million bond and its investment in Royal Railway PLC will play a major strategic development in railway infrastructures by supporting Cambodian demand for [railway] transportation through enhance capacity, safe transportation, and low cost," tycoon Kith Meng said.

"This bond is my commitment to develop the railway, which is a new and better service for the citizens," Meng added.

GuarantCo, part of the Private Infrastructure Development Group, has provided USD 24 million in guarantees to support high credit ratings for investors. SBI Royal Securities, a leading securities company in Cambodia, has acted as the exclusive partner of the bonds.

Bond investors include Prudential (Cambodia), Life Assurance Plc, and Manulife (Cambodia) Plc. The bonds are rated by Kh-AAA Rate Agency of (Cambodia) Plc.

"This is the second bond listed by Royal Railway on the CSX, which the profit will be used to further develop and expand an important infrastructure in Cambodia. This bond is the first infrastructure bond listed in Cambodia with many features that have the potential change to guide future infrastructure financing through the local capital market in the country," Sou Socheat underscored.

He added that the bonds also set a target for the Kh-AAA rating given by the newly established rating agency of Rating Agency (Cambodia) Plc.
=FRESH NEWS
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