Friday, 4 March 2011

New firms consider listing on exchange

via CAAI

Friday, 04 March 2011 15:01 May Kunmakara

MORE than 10 private firms and two more state-owned companies have expressed intentions to list on the Cambodia Securities Exchange after it launches, according to Ministry of Economy and Finance secretary of state Hang Chuon Naron.

Speaking on the sidelines of a currency conference yesterday, he declined to reveal the names of the companies involved.

“There are two state-owned companies and more than ten private companies – they will decide [whether to list] when we launch the exchange,” he said.

Officials have already tapped three state-owned enterprises – Phnom Penh Water Supply, Telecom Cambodia, and Sihanoukville Port – to list on the bourse on or after it launches.

The CSX is set to begin in July this year after being twice-delayed. Private sector officials have also said a number of companies are interested in listing.

Meanwhile, Hang Chuon Naron said government ministers had submitted a recommendation to Prime Minister Hun Sen on which currency ought to be used for listings on the bourse.

He declined to reveal the currency involved, but cautioned it had to reflect the reality of the Cambodian economy, which is highly dollarised.

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