Cambodia Launches Mobile Trading System
AKP Phnom Penh, May 06, 2019 —
“Mobile Trading System, MTS” was officially launched in a ceremony held at Aeon Mall II Sen Sok City, Phnom Penh on May 5.
Organised by Cambodia Securities Exchange (CSX), the official launching ceremony was presided over by H.E. Dr. Hean Sahib, Secretary of State for Economy and Finance (MEF), and Mr. Hahm Jeong-han, Acting Ambassador of the Republic of Korea to Cambodia.
Director General of Securities and Exchange Commission of Cambodia (SECC) H.E. Sou Socheat, Chief Executive Officer of CSX H.E. Hong Sokhour, and Country Director of the Korea International Cooperation Agency (KOICA) Cambodia Office Mr. Jeong Yun Gil were also on hand.
Many related entities and distinguished guests including strategic investors, institutional and individual investors, potential listed companies, securities firms who are members of CSX and professional and independent firms participated in this ceremony.
According to a KOICA’s press release, the Mobile Trading System (MTS) – will enable investors to place orders, check their personal stock information or cancel orders themselves from anywhere and at any time. The aim of launching the MTS web-based system is to increase convenience for investors and encourage them to trade more in the market. It is expected that this new trading platform will help raise market liquidity.
Cambodia and Korea agreed to work together on developing securities market in Cambodia two times – the 1st phase from 2007 to 2009 with the grant aid of US$1.8 million and the 2nd phase from 2014 to 2018 with the grant aid of US$2.5 million, it pointed out.
The Republic of Korea, through KOICA, has assisted the Government of the Kingdom of Cambodia in establishing the CSX, which opened in 2012 and currently has five listed companies: the Phnom Penh Water Supply Authority (PPWSA), Grand Twins International (Cambodia) Plc (GTI), Phnom Penh Autonomous Port (PPAP), Phnom Penh SEZ Plc. (PPSP) and Sihanoukville Autonomous Port (PAS), added the same source, underlining that since 2007, KOICA has been assisting CSX to better attract IPOs and to take a leading role in the financial sector in Cambodia.
“The 2nd phase agreement, signed on Feb. 21, 2014 between KOICA and the Ministry of Economy and Finance, is aimed to attract more IPOs and increase trading volumes at the Cambodian stock market. Through this 2nd phase, KOICA implemented as follows, 1-Current Status Analysis, 2- Capital Market Policy, 3- Legal System, 4-Human Resources and Market Awareness, and 5- IT Infrastructure, we have [Mobile Trading System (MTS), and Video wall (Multi vision), and the Test Sever],” said the press release.
The capital market development has been the central engine for the world’s economic growth. Securities market is particularly important in developing countries because effective fund raising through the market is essential for the sustained economic growth. Despite recent exponential growth in other subsectors such as banking and microfinance, there are issues to be addressed at the moment to realise full potential of the capital market in Cambodia, including invigoration of securities market. Attracting more initial public offerings (IPOs) from entities, both public and private sectors, is especially crucial for further development of securities market in Cambodia.
By C. Nika