Phnom Penh (FN), Nov 1 – The Royal Railway Plc. has become the eighth firm to list its corporate bonds on the Cambodia Securities Exchange (CSX) on Monday.
Tycoon Kith Meng, chairman of the Royal Railway, said his firm had issued 10 million bonds, raising 41 billion riels (about 10 million U.S. dollars) in the first phase.
"With this funding, we will buy 130 more wagons and another four locomotives, plus new equipment that will further modernize the railway services," Meng said at the official listing ceremony held at the Royal Railway headquarters in Phnom Penh.
According to CEO of CSX Hong Sok Hour, the number of companies listing corporate bonds has steadily increased due to long-term sources of capital and tax incentives from the Royal Government.
Hour said in the fourth quarter of 2022, CSX expects at least three more companies to list corporate bonds on CSX.
In 2022, CSX commemorated its 10th anniversary of establishment by launching “CSX Trade” on mobile phone and Cambodia Securities Market Exhibition “My First Stock” 2022.
According to Hong Sok Hour, the results in the third quarter of 2022 achieved an average daily trading volume of 266,289 shares per day, up 138% to 154,532 shares in the third quarter of 2021, while the average daily trading volume was USD 656,051, up 197% to USD 435,100. To date, some 31,000 investors have opened trading accounts at the CSX.
Hong Sok Hour praised the active participation of tycoon Kith Meng who has participated in the development of the securities market in Cambodia and hoped that the leadership of Kith Meng will further inspire other subsidiaries to raise capital through the securities market by issuing and listing as equity securities or bonds.
Hong Sok Hour also encouraged business owners to consider issuing shares that not only increase the company’s capital but also create corporate value and attract investment among investors.
Launched trading in 2012, 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.
=FRESH NEWS
