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B2B Asia News
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This is a B2B Cambodia Market Update for 26 April 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the 26 April 2024 market update in English above.
- The Cambodia Securities Exchange (CSX) Index fell sharply, down 12.41 points, or 3 per cent, to 410.49.
- Volume can be considered heavy with 590,896 shares traded with a value of USD $936,000.
- The Market Breadth indicates a bearish momentum given the downside move in the index. Every Stock on the
- main and growth board traded and every stock was down.
- The big losers of the day were PESTECH (Cambodia) Plc., down 6.67 per cent, or 160 riel to 2,240 riel per Share and ACLEDA Bank Plc. down 6.53 per cent or 520 riel per share to 7,440.
- ACLEDA Bank Plc. (ABC) represented 78 per cent of trading volume and 91 per cent of value traded.
- In corporate news, RMA (Cambodia) Plc. released 2023 earnings. The company's revenue slid 18 per cent compared to 2022 and profit plunged 53 per cent to 113.7 billion riel or USD $28 million.
- There wasn’t any trading in the company’s bond, 5 year bond matures in April 2025. To the comfort of bondholders the company reported an interest coverage ratio of 5.7 times.
An interest coverage is a debt to profitability ratio to determine how well a company can pay its interest, quite simply its EBIT over Interest expense. A minimum of 2 times is a reasonable so RMA’s 5.7 times is more that healthy.
- KHR Riel to USD is a tick weaker at 4062.
- Brent Crude unchanged at USD $88 a barrel.
- Gold continues it recovery, rising USD $20 an ounce to USD $2,362.70 an ounce.
- New York pointing to a small rise at the open on the DOW.