Seoul To Invest In Cambodia's Bourse

August 9, 2006 7:11 a.m. EST


Komfie Manalo - All Headline News Foreign Correspondent
Phnom Penh, Cambodia (AHN) - Cambodia's stock market will commence trading in 2009 as the Korea Exchange of South Korea is reportedly seeking a joint venture with the Cambodian government to develop and manage its market.

The KRX, which runs South Korea's stock market and was instrumental in the development of Vietnam's financial markets, has already sent the Cambodian government a draft memorandum of understanding to establish a joint venture to develop Cambodia's bourse

The Cambodian Press Review said KRX I seeking a 51 percent, majority stake in the country's future bourse and wants to sign a deal immediately.

Kim Bong-tae, a KRX official, said the KRX and the Cambodian government could sign the deal soon. After a deal has been completed, KRX will then train Cambodian personnel over the next three years on the procedures and the ins and outs of stock trading.

Chea Peng Chheang, secretary of state at the Cambodian Ministry of Finance, the government is rushing a draft law on stock exchange and wants to finish it in 2007. Trading is scheduled to start in 2009.

Among the preconditions in trading with Cambodia's stock market, listed companies must improve their accounting systems and confidence of the citizens by making their transactions transparent.

He said, "We must also import South Korean technology to be used for Cambodia's stock market." Cambodia wants a healthy trading in its stock market so as to attract big-time investors and the public sector.

South Korea is a great contributor to the ASEAN economic development.

I hope ASEAN will have one ASEAN Stock Market that consists of Brunei, Cambodia, Indonesea, Laos, Malaysia, Myanmar, Phillipines, Singapore, Thailand, Vietnam.

you left out another SEA nation :P

u mean east timor, they aint in asean yet!

are they really far behind ?

yerp, finally this is long overdued!
Japan as well bro.

Ah yes, Japan is very generous towards the region

I wonder if Khmer-Americans would invest in Cambodian stock. Will that even help the economy??

Yes, if Cambodia allows Khmer-Americans to invest. This is a great idea.

Yeah, but would you really be helping Cambodia's economy. Isnt most companies owned by foreigners or corrupt leaders??

No stock market in Cambodia in a foreseeable future
January 31, 2007

Contrary to several official announcements in a recent past, Cambodia will not be able to set up any stock market in a foreseeable future. Even the South Korean companies the Cambodian authorities had strongly hoped that they would help establish a Bourse in Phnom Penh, have given up the idea because there is no reliable accounting system in Cambodia. Any listed companies would have to present credible financial statements and records over several consecutive years, which is virtually impossible to obtain in a country plagued with corruption and lawlessness.

Vietnam has already developed a relatively small but booming stock market whose value grew 20-fold in 2006 and by over 30 per cent this year, which probably represents the best performance in Asia.

damn........ cambodia needs a strong leader (a benevolent good smart wise fast effective honest leader though).