SIAC Sets Stage for Enhanced Securities Market in Cambodia
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The Securities Investors Association of Cambodia (SIAC) has been officially inaugurated with the aim of attracting more investors and advancing human resource capabilities within the Cambodian securities sector, which is witnessing a steady growth in the number of entities opting to list.
During the launch event, SIAC President Yoeung Virboth shared that the newly formed group, which came into existence on February 19, is composed of investors active in this sector. Virboth emphasized the association’s dedication to offering educational programs on various financial topics such as securities trading, initial public offerings (IPOs), bonds, and digital assets, all under the supervision of the Securities and Exchange Regulator of Cambodia (SERC).
Virboth remarked on the pivotal role SIAC will play in shaping the market’s infrastructure, stressing the importance of working collectively to address challenges and leverage opportunities to enhance the realism and efficiency of the securities market.
Sou Socheat, the SERC’s director-general, referred to the establishment of SIAC as a landmark event for Cambodia’s financial sector. He outlined the association’s responsibilities, which include representing its members in trading-related matters, ensuring legal protection, and contributing to market growth in cooperation with the regulatory body and other pertinent entities.
Socheat proudly reflected on the securities market’s evolution over the past decade under SERC’s stewardship, noting the listing of 23 companies on the Cambodia Securities Exchange (CSX), which have raised a combined total of nearly $400 million. This includes both stock-listed and corporate bond-listed companies, with a notable mention of issuers of green and sustainable bonds.
Despite entering the market later than some and being relatively small in size, Socheat highlighted Cambodia’s alignment with regional and global market trends as a commendable achievement.
By February 2024, SERC had issued 48,477 investor identification numbers and authorized approximately 130 companies to operate within the sector. This includes a wide range of financial institutions such as securities firms, financial advisors, and fund managers.
Socheat expressed optimism that SIAC’s introduction would invigorate trading activities, raise awareness about the securities market, and significantly encourage investments, thereby contributing to the overall vitality and growth of Cambodia’s securities sector.
Source: Phnompenh Post
